Company: IBACR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023510
Chunk: 70

Company: IB Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 70
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 Risk

Not
required for smaller reporting companies.

Item
4. Controls and Procedures

Evaluation
of Disclosure Controls and Procedures

Disclosure
controls are procedures that are designed with the objective of ensuring that information required to be disclosed in our reports filed
under the Exchange Act is recorded, processed, summarized, and reported within the time period specified in the SEC’s rules and
forms. Disclosure controls are also designed with the objective of ensuring that such information is accumulated and communicated to
our management, including the chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding
required disclosure.

Under
the supervision and with the participation of our management, including our principal executive officer and principal financial and accounting
officer, we conducted an evaluation of the effectiveness of our disclosure controls and procedures as of the end of the fiscal quarter
ended June 30, 2025, as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on this evaluation, our principal
executive officer and principal financial and accounting officer have concluded that during the period covered by this report, our disclosure
controls and procedures were not effective at a reasonable assurance level, due to segregation of duties, lack of supervision and review
and limited documentation around controls, and, accordingly, provided reasonable assurance that the information required to be disclosed
by us in reports filed under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the
SEC’s rules and forms.

Changes
in Internal Control over Financial Reporting

There
was no change in our internal control over financial reporting that occurred during the period ended June 30, 2025, covered by this Quarterly
Report on Form 10-Q that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

16

PART
II - OTHER INFORMATION

Item
1. Legal Proceedings

None

Item
1A. Risk Factors

As
a smaller reporting company under Rule 12b-2 of the Exchange Act, we are not required to include risk factors in this Report. For additional
risks relating to our operations, other than as set forth below, see the section titled “Risk Factors” contained in our Annual
Report on Form 10-K filed with the SEC on December 26, 2024. Any of these factors could result in a significant or material adverse effect
on our results of operations or financial condition. Additional risks could arise that may also