Company: FSHPU
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001829126-25-001450
Chunk: 1058

Company: Flag Ship Acquisition Corp
Filing Date: 2025-03-04
Form: 10-K
Item: Item 9A
Chunk 1058
---
     3,657,377  
     - 
  
    Basic and diluted net income per ordinary shares subject to possible redemption 
    $0.17  
    $- 

    Basic and diluted weighted average shares outstanding, ordinary shares attributable to Flag Ship Acquisition Corporation 
     1,851,153  
     1,500,000 
  
    Basic and diluted net income (loss), ordinary shares attributable to Flag Ship Acquisition Corporation 
    $0.17  
    $(0.03)

See accompanying notes to financial statements.

F-4

FLAG SHIP ACQUISITION CORPORATION

STATEMENTS OF CHANGES IN
SHAREHOLDER’S DEFICIT

(Currency expressed in United States Dollars (“US$”), except for number of shares)

    Year ended December 31, 2024 

    Ordinary shares  
    Additional
                                                                                paid-in  
    Accumulated   
    Total shareholders’ 

    No. of shares  
    Amount  
     capital  
    deficit  
     deficit 
  
    Balance as of January 1, 2024 
     1,725,000  
    $1,725  
    $23,275  
    $(308,006) 
     (283,006)
  
    Sale of units in initial public offering, net of offering costs 
     6,900,000  
     6,900  
     65,520,667  
     -  
     65,527,567 
  
    Sale of units to the founder in private placement 
     238,000  
     238  
     2,379,762  
     -  
     2,380,000 
  
    Initial classification of ordinary shares subject to possible redemption 
     (6,900,000) 
     (6,900) 
     (64,660,391) 
     -  
     (64,667,291)
  
    Allocation of offering costs to ordinary shares subject to redemption 
     -  
     -  
     3,231,709  
     -  
     3,231,709 
  
    Accretion of carrying value to redemption value 
     -  
     -  
     (6,495,022) 
     (1,069,396) 
     (7,564