Company: DTSQ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001417
Chunk: 98

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 98
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 their shares at a
per share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest (net of taxes
payable), divided by the number of then issued and outstanding public shares, subject to applicable laws. If we are unable to complete
our initial business combination within the 15-month period or such period that may be extended, we will (1) cease all operations except
for the purpose of winding up; (2) as promptly as reasonably possible but no more than ten business days thereafter, redeem 100% of the
outstanding public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account,
including interest earned (net of taxes payable), which redemption will completely extinguish public shareholders’ rights as shareholders
(including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably
possible following such redemption, subject to the approval of the remaining shareholders and our board of directors, proceed to commence
a voluntary liquidation and thereby a formal dissolution of our company, subject in each case to its obligations to provide for claims
of creditors and the requirements of applicable law.

Going
Concern Consideration 

As
of December 31, 2024, we had approximately $411,429 in cash and cash in escrow and working
capital of approximately $339,724. We had net income of $1,193,616 for the year ended December
31, 2024, which is mainly from the interest and dividends earned in trust account. 

Our
liquidity needs prior to the consummation of the initial public offering were satisfied through the receipt of $25,000 from the sale
of the initial shares, as well as a promissory note from our sponsor up to an aggregate amount of $300,000 to be used, in part, for transaction
costs incurred in connection with the initial public offering. As of December 31, 2024 and 2023, the principal amount due and owing under
the promissory note was $nil and $nil,  respectively.
Subsequent to the consummation of the initial public offering, our liquidity has been satisfied through the net proceeds from the consummation
of the initial public offering and the private placement held outside of the trust account. In addition, in order to finance transaction
costs in connection with a business combination,