Company: CHPG
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001213900-25-077011
Chunk: 81

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-08-15
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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Offer Letter”) up to July 31, 2025, and the Offer Letter shall be deemed to have been terminated as of July 31, 2025.

Results of Operations

We have neither engaged in any operations nor generated any revenues
to date. Our only activities since inception have been organizational activities and those necessary to prepare for the IPO and after
the IPO, identifying a target company for a Business Combination. Following the IPO, we will not generate any operating revenues until
after completion of our initial business combination. We expect to generate non-operating income in the form of interest and dividend
income on investment held in trust account after the IPO. After the IPO, we expect to incur increased expenses as a result of being a
public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses in connection
with completing a Business Combination.

For the three months ended June 30, 2025, we had a net loss of $70,056,
which consisted of formation and operating costs of $162,486 and stock compensation expense of $155,094. These were partially offset by
interest and dividend income on investments held in trust account of $248,334.

For the three months ended June 30, 2024, we had
a net loss of $64,622, which consisted of formation and operating costs of $32,717 and stock compensation expense of $31,905.

For the six months ended June 30, 2025, we had a net loss of $187,383,
which consisted of formation and operating costs of $279,813 and stock compensation expense of $155,094. These were partially offset by
interest and dividend income on investments held in trust account of $248,334.

For the period from March 27, 2024 (inception)
to June 30, 2024, we had a net loss of $64,677, which consisted of formation and operating costs of $32,772 and stock compensation expense
of $31,905.

Liquidity and Capital Resources

Our liquidity needs have been satisfied prior
to completion of the IPO through contribution from our sponsor of $22,901 to purchase the founder shares (the initial purchase price of
$25,001 for the issuance of the 2,170,161 insider shares less the consideration price of $2,551 to be received from directors and officers
in exchange for the transfer of certain insider shares) and up to $500