Company: JACS-RI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001213900-25-041127
Chunk: 10

Company: Jackson Acquisition Co II
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 expects to continue to incur significant costs in pursuit
of its financing and acquisition plans. 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,”
as of March 31, 2025, the Company has sufficient funds for the working capital needs of the Company until a minimum of one year from the
date of issuance of these unaudited condensed financial statements.

NOTE 2 — SIGNIFICANT ACCOUNTING
POLICIES

Basis of Presentation

The accompanying unaudited condensed financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”)
for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Certain
information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or
omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information
and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management,
the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are
necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.

The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s Annual Report on Form
10-K for the period ended December 31, 2024, as filed with the SEC on March 18, 2025. The interim results for the three months ended March
31, 2025, are not necessarily indicative of the results to be expected for the period ending December 31, 2025 or for any future periods.

Segment Reporting

 The Company complies with Accounting Standards
Update 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which improves reportable
segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses among other disclosure requirements.

9

Emerging Growth Company

The Company is an “emerging growth company,”
as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the
“JOBS Act”), and it may take advantage