Company: NBRG
Filing Date: 2025-09-11
Form Type: S-1/A
Source: 0001213900-25-086861
Chunk: 350

Company: Newbridge Acquisition Ltd
Filing Date: 2025-09-11
Form: S-1/A
Chunk 350
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 will not be responsible to the extent of any liability for such third party claims. F-21 NEWBRIDGE ACQUISITION LIMITED
NOTES TO FINANCIAL STATEMENTS AS OF DECEMBER 31, 2024
AND JUNE 30, 2025 (UNAUDITED) Note 1 — Organization and Business Operations (cont.) We have not independently verified whether the sponsor has sufficient funds to satisfy its indemnity obligations and believe that the sponsor’s only assets are securities of our company. We have not asked the sponsor to reserve for such obligations and therefore believe the sponsor will be unlikely to satisfy its indemnification obligations if it is required to do so. However, we believe the likelihood of the sponsor having to indemnify the trust account is limited because we will endeavor to have all vendors and prospective target businesses as well as other entities execute agreements with us waiving any right, title, interest or claim of any kind in or to monies held in the trust account. Going Concern Consideration As of June 30, 2025, the Company had a negative working capital of $624,323, an accumulated deficit of $487,713 and a shareholders’ deficit of $462,713. For the six months ended June 30, 2025, the Company had a net loss of $88,605 and negative operating cash flows of $88,605. The Company expects to continue to incur significant costs in pursuit of its acquisition plans. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans to address the needs of capital through the Proposed Public Offering are discussed in Note 3. There is no assurance that the Company’s plans to raise capital or to consummate a Business Combination will be successful within the Combination Period. On May 1, 2021, the Sponsor agreed to loan the Company up to an aggregate amount of $500,000 as discussed in Note 5 to be used, in part, for transaction costs incurred in connection with the Proposed Public Offering. On May 1, 2025, a new agreement was signed, under which the total borrowings shall not exceed $1,000,000. The financial statements do not include any adjustments that might result from the Company’s inability to consummate the Proposed Public Offering or a Business Combination to continue as a going concern. Note 2 — Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States of