Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 506

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 5
Chunk 506
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 assured that that the Sponsor would be able to satisfy those obligations. None of the officers or directors will
indemnify the Company for claims by third parties including, without limitation, claims by vendors and prospective target businesses.

Going Concern Consideration

As of December 31, 2024, the Company had $533,006
cash and a working capital of $500,880. The Company expects to incur significant professional costs to remain as a publicly traded company
and to incur significant transaction costs in pursuit of the consummation of an initial business combination. In connection with the Company’s
assessment of going concern considerations in accordance with the Financial Accounting Standards Board (“FASB”) Accounting
Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going
Concern,” management has determined that these conditions raise substantial doubt about the Company’s ability to continue
as a going concern. Management’s plan in addressing this uncertainty is through the borrowing of Working Capital Loans, as defined
below (see Note 5). In addition, if the Company is unable to complete an initial business combination within the Combination Period by
March 6, 2026, unless further extended, the Company’s board of directors would proceed to commence a voluntary liquidation and thereby
a formal dissolution of the Company. There is no assurance that the Company’s plans to consummate an initial business combination
will be successful within the Combination Period. As a result, management has determined that such additional condition also raise substantial
doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are
issued. The financial statement does not include any adjustments that might result from the outcome of this uncertainty.

Risks and Uncertainties

As a result of the military action commenced in
February 2022 by the Russian Federation and Belarus in the country of Ukraine and related economic sanctions, the Company’s
ability to consummate an initial business combination, or the operations of a target business with which the Company ultimately consummates
an initial business combination, may be materially and adversely affected. In addition, the Company’s ability to consummate a transaction
may be dependent on the ability to raise equity and debt financing which may be impacted by these events, including as a result of increased
market volatility, or decreased market liquidity in third-party financing being unavailable on terms acceptable to the Company or at all.
The impact of this action and related sanctions