Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 599

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 599
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 September 30, 2025 Note 2. Summary of Significant Accounting Policies (cont.) Income Taxes The Company is subject to income taxes in the U.S. The Company uses the asset -and -liabilitymethod for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between the financial statement carrying amounts and tax bases of assets and liabilities and operating loss and tax credit carryforwards and are measured using the enacted tax rates that are expected to be in effect when the differences reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established on a jurisdiction -by -jurisdictionbasis when necessary to reduce deferred tax assets to an amount that, in the opinion of management, is more likely than not to be realized. Net Loss Per Share Basic and diluted net loss per share attributable to common stockholders is presented in conformity with the two -classmethod required for participating securities. The two -classmethod determines net income (loss) per share for each class of common and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The two -classmethod requires income (loss) available to common stockholders for the period to be allocated between common and participating securities based upon their respective rights to shares in undistributed earnings as if all income (loss) for the period had been distributed. As of September 30, 2025, the Company has no other participating securities other than the two classes of common stock. Basic net loss per share is calculated by dividing the net loss attributable to common stockholders by the weighted -averagenumber of common stock outstanding during the period, without consideration of potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted -averagenumber of common stock and potentially dilutive securities outstanding for the period. As of September 30, 2025, the Company has no securities that provided a potentially dilutive impact to the computation for the period presented. Recently Issued Accounting Pronouncements In September 2025, the FASB issued ASU 2025 -06, Targeted Improvements to the Accounting for Internal -Use Software. This ASU amends the existing standard to remove all references to prescriptive and sequential software development project stages. Under this guidance, eligible software development costs will begin capitalization when management has authorized and committed to funding the software project, and it is probable that the project will