Company: CSTAF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110128
Chunk: 156

Company: Constellation Acquisition Corp I
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 156
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adoption permitted. ASU 2023-07 became effective as of December 31, 2024 and our management adopted ASU 2023-07 in our financial statements
and related disclosures (see Note 9).

The Company’s management does not believe
that any other recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the accompanying
unaudited condensed financial statements.

Off-Balance Sheet Arrangements

As of September 30, 2025, we did not have any
off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K.

Inflation

We do not believe that inflation had a material
impact on our business, revenues or operating results during the period presented.

JOBS Act

The JOBS Act contains provisions that, among
other things, relax certain reporting requirements for qualifying public companies. We qualify as an “emerging growth company”
and under the JOBS Act are allowed to comply with new or revised accounting pronouncements based on the effective date for private (not
publicly traded) companies. We are electing to delay the adoption of new or revised accounting standards, and as a result, we may not
comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non-emerging
growth companies. As a result, the financial statements may not be comparable to companies that comply with new or revised accounting
pronouncements as of public company effective dates.

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Additionally, we are in the process of evaluating
the benefits of relying on the other reduced reporting requirements provided by the JOBS Act. Subject to certain conditions set forth
in the JOBS Act, if, as an “emerging growth company,” we choose to rely on such exemptions we may not be required to, among
other things, (i) provide an auditor’s attestation report on our system of internal controls over financial reporting pursuant
to Section 404, (ii) provide all of the compensation disclosure that may be required of non-emerging growth public companies under the
Dodd-Frank Wall Street Reform and Consumer Protection Act, (iii) comply with any requirement that may be adopted by the Public Company
Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor’s report providing additional
information about the audit and the financial statements (auditor discussion and analysis) and (iv) disclose certain executive compensation
related items such as the correlation between