Company: CSTAF
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074972
Chunk: 88

Company: Constellation Acquisition Corp I
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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financial condition, results of operations and cash flows is also not determinable as of the date of these unaudited condensed financial
statements.

Liquidity and Going Concern Consideration

As of June 30, 2025, the Company had $4,905 in
its operating bank account and a working capital deficit of $6,283,278, net of the convertible promissory note – related party.
Convertible promissory note - related party amounting to $3,181,000 is not expected to be settled out of the current assets.

The Company is within 12 months of its mandatory
liquidation as of the time of filing this Quarterly Report on Form 10-Q (the “Quarterly Report”). In connection with the Company’s
assessment of going concern considerations in accordance with Accounting Standards Update 2014-15, “Disclosures of Uncertainties
about an Entity’s Ability to Continue as a Going Concern,” the liquidity condition and mandatory liquidation raise substantial
doubt about the Company’s ability to continue as a going concern until the earlier of the consummation of the Business Combination
or the Termination Date.

These unaudited condensed financial statements
do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be
necessary should the Company be unable to continue as a going concern.

As such, management plans to consummate a Business
Combination prior to the mandatory liquidation date. If the Company’s estimates of the costs of identifying a target business, undertaking
in-depth due diligence and negotiating a Business Combination are less than the actual amount necessary to do so, the Company may have
insufficient funds available to operate its business prior to an initial Business Combination. Moreover, the Company may need to obtain
additional financing either to complete an initial Business Combination or because it becomes obligated to redeem a significant number
of its Public Shares upon completion of an initial Business Combination, in which case the Company may issue additional securities or
incur debt in connection with such initial Business Combination.

10

Note 2 — Significant Accounting Policies

Basis of Presentation

The accompanying unaudited condensed financial
statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”)
for financial information and pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the information
and footnotes required by GAAP. In the opinion of management, the unaudited