Company: IBACR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010982
Chunk: 69

Company: IB Acquisition Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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, 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 March 31, 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 March 31, 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.

15

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 affect our business or ability to consummate
an initial Business Combination. We may disclose changes to such risk factors or disclose additional risk factors from time to time in
our future filings with the SEC.

Changes
in international trade policies, tariffs and treaties affecting imports and exports may have a material adverse effect on our search
for an initial Business Combination target or the performance or business prospects of a post-Business Combination company.

There
have recently been significant changes to international trade policies and tariffs