# EDGAR Filing Document

**Accession Number:** 0002066067
**File Stem:** 0001213900-25-057931
**Filing Date:** 2025-6
**Character Count:** 112634
**Document Hash:** f97e4a431941270a7eb5b3937f96ca12
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-057931.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001213900-25-057931

**CONFORMED SUBMISSION TYPE**: 10-12G/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250625

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Orielle Acquisition Corp.
- **CENTRAL INDEX KEY:** 0002066067
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 332626399
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-12G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56749
- **FILM NUMBER:** 251074669

**BUSINESS ADDRESS:**
- **STREET 1:** 55 NE 5TH AVE., SUITE 401
- **CITY:** BOCA RATON
- **STATE:** FL
- **ZIP:** 33432
- **BUSINESS PHONE:** 561-464-2841

**MAIL ADDRESS:**
- **STREET 1:** 55 NE 5TH AVE., SUITE 401
- **CITY:** BOCA RATON
- **STATE:** FL
- **ZIP:** 33432

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

 **FORM 10/A**

 **Amendment No. 1 to**

**GENERAL FORM FOR REGISTRATION OF SECURITIES**

**Pursuant to Section 12(b) or (g) of the Securities Exchange Act of 1934**

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| |
|:---|
| **Orielle Acquisition Corp.** |
| (Exact name of registrant as specified in its charter) |

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| | |
|:---|:---|
| **Delaware** | **33-2626399** |
| (State or other jurisdiction of<br> incorporation or organization) | (I.R.S. Employer<br> Identification No.) |

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| | |
|:---|:---|
| **55 NE 5th Ave., Suite 401, Boca Raton, Florida** | **33432** |
| (Address of principal executive office) | (Zip Code) |

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Registrant's telephone number, including area code: **(561) 989-2208**

Copies to:

Barrett S. DiPaolo

Sichenzia Ross Ference Carmel LLP

1185 Avenue of the Americas, 31<sup>st</sup> Floor

New York, NY 10036

Telephone Number: (212) 930-9700

Facsimile Number: (212) 930-9725

Securities to be registered pursuant to Section 12(b) of the Act: None

Securities to be registered pursuant to Section 12(g) of the Act:

**Common Stock, $0.0001 par value**

(Title of class)

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**TABLE OF CONTENTS**

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| | | |
|:---|:---|:---|
| | | Page |
| [Explanatory Note](#a_001) | [Explanatory Note](#a_001) | ii |
| [Forward-Looking Statements](#a_002) | [Forward-Looking Statements](#a_002) | ii |
| Item 1. | [Business.](#a_003) | 1 |
| Item 1A. | [Risk Factors.](#a_004) | 6 |
| Item 2. | [Financial Information.](#a_005) | 6 |
| Item 3. | [Properties.](#a_006) | 8 |
| Item 4. | [Security Ownership of Certain Beneficial Owners and Management.](#a_007) | 9 |
| Item 5. | [Directors and Executive Officers.](#a_008) | 9 |
| Item 6. | [Executive Compensation.](#a_009) | 10 |
| Item 7. | [Certain Relationships and Related Transactions, and Director Independence.](#a_010) | 11 |
| Item 8. | [Legal Proceedings.](#a_011) | 15 |
| Item 9. | [Market Price of and Dividends on the Registrant's Common Equity and Related Stockholder Matters.](#a_012) | 15 |
| Item 10. | [Recent Sales of Unregistered Securities.](#a_013) | 16 |
| Item 11. | [Description of Registrant's Securities to be Registered.](#a_014) | 16 |
| Item 12. | [Indemnification of Directors and Officers.](#a_015) | 17 |
| Item 13. | [Financial Statements and Supplementary Data.](#a_016) | 18 |
| Item 14. | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.](#a_017) | 18 |
| Item 15. | [Financial Statements and Exhibits.](#a_018) | 18 |

---

i

**EXPLANATORY NOTE**

This Amendment No. 1 to General Form for Registration of Securities on Form 10 amends the General Form for Registration of Securities on Form 10 that we voluntarily filed on May 14, 2025, to register our common stock, par value $0.0001 per share (the "Common Stock"), pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). This registration statement will become effective automatically by lapse of time 60 days from the date of the initial filing of this registration statement pursuant to Section 12(g)(1) of the Exchange Act.

Once this registration statement is deemed effective, we will be subject to the requirements of Regulation 13(a) under the Exchange Act and will be required to file annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K, and we will be required to comply with all other obligations of the Exchange Act applicable to issuers filing registration statements pursuant to Section 12(g) of the Exchange Act.

Unless otherwise noted, references in this registration statement to the "Registrant," the "Company," "we," "our" or "us" means Orielle Acquisition Corp. Our principal place of business is located at 55 NE 5<sup>th</sup> Ave., Suite 401, Boca Raton, FL 33432. Our telephone number is: (561) 989-2208.

**FORWARD LOOKING STATEMENTS**

There are statements in this registration statement that are not historical facts. These "forward-looking statements" can be identified by use of terminology such as "believe," "hope," "may," "anticipate," "should," "intend," "plan," "will," "expect," "estimate," "project," "positioned," "strategy" and similar expressions. You should be aware that these forward-looking statements are subject to risks and uncertainties that are beyond our control. For a discussion of these risks, you should read this entire registration statement carefully, especially the risks discussed under the section entitled "Risk Factors." Although management believes that the assumptions underlying the forward-looking statements included in this registration statement are reasonable, they do not guarantee our future performance, and actual results could differ from those contemplated by these forward-looking statements. The assumptions used for purposes of the forward-looking statements specified in the following information represent estimates of future events and are subject to uncertainty as to possible changes in economic, legislative, industry, and other circumstances. As a result, the identification and interpretation of data and other information and their use in developing and selecting assumptions from and among reasonable alternatives require the exercise of judgment. To the extent that the assumed events do not occur, the outcome may vary substantially from anticipated or projected results, and, accordingly, no opinion is expressed on the achievability of those forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the results and events contemplated by the forward-looking statements contained in this registration statement will in fact transpire. You are cautioned to not place undue reliance on these forward-looking statements, which speak only as of their dates. We do not undertake any obligation to update or revise any forward-looking statements unless required by applicable laws or regulations.

ii

**Item 1. Business.**

Orielle Acquisition Corp. was incorporated in the State of Delaware on January 2, 2025. Since inception, the Company has been engaged in organizational efforts and obtaining initial financing. The Company was formed as a vehicle to pursue a business combination and has to date made no efforts to identify a possible business combination. As a result, the Company has not conducted negotiations or entered into a letter of intent concerning any target business. The business purpose of the Company is to seek the acquisition of or merger with, an existing company. The Company selected December 31<sup>st</sup> as its fiscal year end.

The Company, based on proposed business activities, is a "blank check" company. The U.S. Securities and Exchange Commission (the "SEC") defines those companies as "any development stage company that is issuing a penny stock, within the meaning of Section 3 (a)(51) of the Exchange Act, and that has no specific business plan or purpose, or has indicated that its business plan is to merge with an unidentified company or companies." Under SEC Rule 12b-2 under the Exchange Act, the Company also qualifies as a "shell company," because it has no or nominal assets (other than cash) and no or nominal operations. As of March 31, 2025, and January 31, 2025, the Company had $15,172 and $14,707 in cash, respectively, and its auditors have issued an opinion raising substantial doubt about its ability to continue as a going concern. Many states have enacted statutes, rules and regulations limiting the sale of securities of "blank check" companies in their respective jurisdictions. Management does not intend to undertake any efforts to cause a market to develop in our securities, either debt or equity, until we have successfully concluded a business combination. The Company intends to comply with the periodic reporting requirements of the Exchange Act for so long as it is subject to those requirements.

The Company was organized as a vehicle to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly held corporation. The Company's principal business objective for the next 12 months and beyond such time will be to achieve long-term growth potential through a combination with a business rather than immediate, short-term earnings. The Company will not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business. The Company has not conducted any active operations since inception, except for its efforts to locate suitable acquisition candidates. The Company's plan of operation for the remainder of the fiscal year and beyond such time shall be to continue its efforts to locate suitable acquisition candidates. As of the date of this filing, the Company has not identified any specific milestones to be achieved by any specific date.

During the remainder of the fiscal year and beyond such time, we anticipate incurring costs related to the filing of Exchange Act reports, and investigating, analyzing and consummating an acquisition. We believe we will be able to meet these costs through the use of funds to be loaned by or invested in us by our stockholders, management or other investors. Our management and stockholders have indicated their intent to advance funds on behalf of the Company as needed in order to accomplish its business plan and comply with its Exchange Act reporting requirements; however, there are no agreements in effect between the Company and our management and stockholders specifically requiring that they provide any funds to the Company. As a result, there are no assurances that such funds will be advanced or that the Company will be able to secure any additional funding as needed.

The analysis of new business opportunities will be undertaken by or under the supervision of the Company's management. As of the date of this filing, the Company has not entered into any definitive agreement with any party, nor have there been any specific discussions with any potential business combination candidate regarding business opportunities for the Company. While the Company has limited assets and no revenues, the Company has unrestricted flexibility in seeking, analyzing and participating in potential business opportunities in that it may seek out a target company in any type of business, industry or geographical location. In its efforts to analyze potential acquisition targets, the Company will consider the following kinds of factors:

(a) potential for growth, indicated by new technology, anticipated market expansion or new products;

(b) competitive position as compared to other firms of similar size and experience within the industry segment as well as within the industry as a whole;

(c) strength and diversity of management, either in place or scheduled for recruitment;

(d) capital requirements and anticipated availability of required funds, to be provided by the Company or from operations, through the sale of additional securities, through joint ventures or similar arrangements or from other sources;

(e) the cost of participation by the Company as compared to the perceived tangible and intangible values and potentials;

(f) the extent to which the business opportunity can be advanced; and

(g) the accessibility of required management expertise, personnel, raw materials, services, professional assistance and other required items.

In applying the foregoing criteria, no one of which will be definitive, management will attempt to analyze all factors and circumstances and make a determination based upon reasonable investigative measures and available data. Potentially available business opportunities may occur in many different industries, and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex. Due to the Registrant's limited capital available for investigation, the Registrant may not discover or adequately evaluate adverse facts about the opportunity to be acquired. In addition, we will be competing against other entities that possess greater financial, technical and managerial capabilities for identifying and completing business combinations.

In evaluating a prospective business combination, we will conduct as extensive a due diligence review of potential targets as possible given the lack of information which may be available regarding private companies and our limited personnel and financial resources. We expect that our due diligence will encompass, among other things, meetings with the target business's incumbent management and inspection of its facilities, as necessary, as well as a review of financial and other information which is made available to us. This due diligence review will be conducted either by our management or by unaffiliated third parties we may engage, including but not limited to attorneys, accountants, consultants or other such professionals. As of the date of this filing, the Company has not specifically identified any third parties that it may engage. The costs associated with hiring third parties as required to complete a business combination may be significant and are difficult to determine as such costs may vary depending on a variety of factors, including the amount of time it takes to complete a business combination, the location of the target company, and the size and complexity of the business of the target company. While the Company does not intend to retain any entity to act as a "finder", the Company's management, through its various contacts and affiliations with other entities, including Montrose Capital Partners Limited ("Montrose Capital"), a privately held company which focuses on identifying public markets venture capital investment opportunities in high growth early stage companies, may assist in making introductions to candidates for a potential business combination. Montrose Capital is a sector agnostic privately held firm which has identified and invested, through its principal owners, in a wide spectrum of global industries, including in biotechnology, specialty pharmaceuticals, medical devices, robotics, and technology, and may assist the Company with due diligence in the form of identifying a business combination target. A stockholder and director and the sole officer of the Company, Ian Jacobs, is an associate of Montrose Capital. A stockholder and director of the Company, Mark Tompkins, is an officer and principal owner of Montrose Capital. Except as described herein, there are currently no other agreements or preliminary understandings between us and Montrose Capital. As of the date of this filing, Montrose Capital has not introduced any specific candidate for a potential business combination to the Company.

Our limited funds and the lack of full-time management will likely make it impracticable to conduct a complete and exhaustive investigation and analysis of a target business before we consummate a business combination. Management decisions, therefore, will likely be made without detailed feasibility studies, independent analysis, market surveys and the like which, if we had more funds available to us, would be desirable. We will be particularly dependent in making decisions upon information provided by the promoters, owners, sponsors or others associated with the target business seeking our participation.

The time and costs required to select and evaluate a target business and to structure and complete a business combination cannot presently be ascertained with any degree of certainty. The amount of time it takes to complete a business combination, the location of the target company, and the size and complexity of the business of the target company, whether current stockholders of the Company will retain equity in the Company, the scope of the due diligence investigation required, the involvement of the Company's auditors in the transaction, possible changes in the Company's capital structure in connection with the transaction, and whether funds may be raised contemporaneously with the transaction are all factors that determine the costs associated with completing a business combination transaction. The time and costs required to complete a business combination can be estimated once a business combination target has been identified. Any costs incurred with respect to the evaluation of a prospective business combination that is not ultimately completed will result in a loss to us.

Through information obtained from industry professionals including attorneys, investment bankers, and other consultants with experience in the reverse merger industry, the Company is aware that there are hundreds of shell companies seeking a business combination target. As a result, the Company believes it is in a highly competitive market for a small number of business opportunities which could reduce the likelihood of consummating a successful business combination. We are, and will continue to be, an insignificant participant in the business of seeking mergers with, joint ventures with and acquisitions of small private and public entities. A large number of established and well-financed entities, including small public companies and venture capital firms, are active in mergers and acquisitions of companies that may be desirable target candidates for us. Nearly all these entities have significantly greater financial resources, technical expertise and managerial capabilities than we do; consequently, we will be at a competitive disadvantage in identifying possible business opportunities and successfully completing a business combination. These competitive factors may reduce the likelihood of our identifying and consummating a successful business combination.

In addition, management is currently involved with two other blank check companies (see Item 7 below) and may become associated with additional blank companies at any time in the future. As a result, conflicts may arise during the pursuit of business combinations with such other blank check companies with which our management is involved or may become involved with in the future if we and the other blank check companies that our officers and directors are affiliated with desire to take advantage of the same business opportunity.

At this time, the Company has not identified any specific factors or criteria that will be used to determine which entity will proceed with a proposed transaction in the event of a conflict of interest and management reserves the right to use any such criteria as it determines to be relevant at the time a proposed transaction is presented. However, in the event a conflict of interest arises in connection with the identification of a proposed business transaction, the Company's management and board of directors will use its reasonable judgment and intends to take all such actions as may be required in order to satisfy its fiduciary duties. At this time, there are no specific conflicts of interests identified by our management.

We presently have no employees apart from our management. Our officer and directors are engaged in outside business activities and are employed on a full-time basis by other companies. Our officer and directors will be dividing their time amongst these entities and anticipate that they will devote very limited time to our business until the acquisition of a successful business opportunity has been identified. We anticipate that our sole officer will devote on average approximately 5 to 10 hours per week to the Company's operations, including corporate governance, regulatory compliance and identifying potential business opportunities. Management anticipates that this time commitment may increase as the Company moves closer to identifying and executing a business combination. The specific amount of time that management will devote to the Company may vary from week to week or even day to day, and therefore the specific amount of time that management will devote to the Company on a weekly basis cannot be ascertained with any level of certainty. In all cases, management intends to spend as much time as is necessary to exercise their fiduciary duties as an officer and/or director of the Company and believes that they will be able to devote the time required to consummate a business combination transaction as necessary.

We expect no significant changes in the number of our employees other than such changes, if any, incident to a business combination.

**Form of Acquisition**

The manner in which the Registrant participates in an opportunity will depend upon the nature of the opportunity, the respective needs and desires of the Registrant and the promoters of the opportunity, and the relative negotiating strength of the Registrant and such promoters.

It is likely that the Registrant will acquire its participation in a business opportunity through the issuance of its Common Stock or other securities of the Registrant, which could result in substantial dilution to the equity of stockholders of the Registrant immediately prior to the consummation of a transaction. Although the terms of any such transaction have not been identified and cannot be predicted, it is expected that any business combination transaction the Company may enter into would be structured as a "tax free" reorganization. It should be noted that the criteria for determining whether or not an acquisition is a so-called "tax free" reorganization under Section 368(a)(1) of the Internal Revenue Code of 1986, as amended (the "Code") depends upon the transaction meeting certain statutory and non-statutory requirements. There are different types of statutory requirements for each type of tax-free reorganization and thus each transaction must be reviewed carefully to determine its eligibility for a tax-free reorganization. One of the statutory requirements in a tax-free reorganization is that at least a certain percentage of the total consideration in the transaction must be voting stock of the acquirer corporation. This could result in substantial dilution to the equity of those who were stockholders of the Registrant prior to such reorganization. In addition, post-transaction dispositions of Registrant's stock received as consideration could have implications for the tax-free nature of the transaction in question. The Company does not intend to supply disclosure to stockholders concerning a target company prior to the consummation of a business combination transaction, unless required by applicable law or regulation. In the event a proposed business combination involves a change in majority of directors of the Company, the Company will file and provide to stockholders a Schedule 14F-1, which shall include, information concerning the target company, as required. The Company will file a current report on Form 8-K, as required, within four business days of a business combination which results in the Company ceasing to be a shell company. This Form 8-K will include complete disclosure of the target company, including audited financial statements.

The present stockholders of the Registrant will likely not have control of a majority of the voting securities of the Registrant following a reorganization transaction. As part of such a transaction, all or a majority of the Registrant's directors may resign and one or more new directors may be appointed without any vote by stockholders.

In the case of an acquisition, the transaction may be accomplished upon the sole determination of management without any vote or approval by stockholders. In the case of a statutory merger or consolidation directly involving the Company, it will likely be necessary to call a stockholders' meeting and obtain the approval of the holders of a majority of the outstanding securities. The necessity to obtain such stockholder approval may result in delay and additional expense in the consummation of any proposed transaction and will also give rise to certain appraisal rights to dissenting stockholders. Most likely, management will seek to structure any such transaction so as not to require stockholder approval.

The Company intends to search for a target for a business combination by contacting various sources including, but not limited to, our affiliates, lenders, investment banking firms, private equity funds, consultants and attorneys. The approximate number of persons or entities that will be contacted is unknown and dependent on whether any opportunities are presented by the sources that we contact. Due to our management's affiliation with Montrose Capital, we expect that Montrose Capital may be able to assist the Company in identifying a business combination target for us. We currently do not have any agreements or preliminary agreements between us and any other entities including but not limited to Montrose Capital.

It is anticipated that the investigation of specific business opportunities and the negotiation, drafting and execution of relevant agreements, disclosure documents and other instruments will require substantial management time and attention and substantial cost for accountants, attorneys and others. The costs that will be incurred are difficult to determine with any degree of specificity at this time as such costs are expected to be dependent on factors such as the amount of time it takes to identify and complete a business combination transaction, the location, size and complexity of the business of the target company, whether current stockholders of the Company will retain equity in the Company, the scope of the due diligence investigation required, the involvement of the Company's auditors in the transaction, possible changes in the Company's capital structure in connection with the transaction, and whether funds may be raised contemporaneously with the transaction. If a decision is made not to participate in a specific business opportunity, the costs theretofore incurred in the related investigation might not be recoverable. Furthermore, even if an agreement is reached for the participation in a specific business opportunity, the failure to consummate that transaction may result in the loss to the Registrant of the related costs incurred. The Company has not established a timeline with respect to the identification of a business combination target.

**Emerging Growth Company**

The Company is an "emerging growth company", as defined in the Jumpstart Our Business Startups Act of 2012 ("JOBS Act"), and may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not "emerging growth companies" including, but not limited to, not being required to comply with the auditor attestation requirements of section 404(b) of the Sarbanes-Oxley Act, and exemptions from the requirements of Sections 14A(a) and (b) of the Securities Exchange Act of 1934 to hold a nonbinding advisory vote of stockholders on executive compensation and any golden parachute payments not previously approved.

The Company has elected to use the extended transition period for complying with new or revised accounting standards under Section 102(b)(1) of the JOBS Act. This election allows us to delay the adoption of new or revised accounting standards that have different effective dates for public and private companies until those standards apply to private companies. As a result of this election, our financial statements may not be comparable to companies that comply with public company effective dates.

We will remain an "emerging growth company" for up to five years, although we will lose that status sooner if our revenues exceed $1.07 billion, if we issue more than $1 billion in non-convertible debt in a three year period, or if the market value of our common stock that is held by non-affiliates exceeds $700 million as of the end of the second quarter of any fiscal year following the anniversary of the initial reporting.

To the extent that we continue to qualify as a "smaller reporting company", as such term is defined in Rule 12b-2 under the Securities Exchange Act of 1934, after we cease to qualify as an emerging growth company, certain of the exemptions available to us as an emerging growth company may continue to be available to us as a smaller reporting company, including: (1) not being required to comply with the auditor attestation requirements of Section 404(b) of the Sarbanes Oxley Act; (2) scaled executive compensation disclosures; and (3) the requirement to provide only two years of audited financial statements, instead of three years.

 **Shell Company Status**

We are a "shell company" as defined in Rule 405 of the Securities Act of 1933, as amended (the "Securities Act") and Rule 12b-2 under the Exchange Act. The term shell company means a registrant, other than an asset-backed issuer as defined in Item 1101(b) of Regulation AB, that has no or nominal operations and either no or nominal assets, assets consisting solely of cash and cash equivalents, or assets consisting of any amount of cash and cash equivalents and nominal other assets.

Some of the consequences of being a shell company are as follows:

● Rule 145a under the Securities Act provides that any direct or indirect business combination of a reporting shell company (that is not a business combination related shell company as defined in Rule 405) involving another entity that is not a shell company is deemed to involve an offer, offer to sell, offer for sale, or sale within the meaning of section 2(a)(3) of the Securities Act of securities to the reporting shell company's existing shareholders. Where Rule 145a applies, that deemed offer and sale would need to be registered under the Securities Act, unless there is an applicable exemption. However, as the Company currently has only two shareholders, both of whom are and are anticipated to continue to be "accredited investors" within the meaning of Rule 501 under the Securities Act, we anticipate that any such deemed offer and sale to them will be exempt from registration under the Securities Act under Rule 506(b) thereunder.

● The applicable rules of the SEC prohibit the use of Form S-8 under the Securities Act (for registration of securities of the registrant to be offered under employee benefit plans to its directors, officers, employees and consultants) by shell companies until 60 days after the registrant ceases to be a shell company.

● Form 8-K under the Exchange Act requires a shell company (other than a business combination related shell company) that is reporting an acquisition of a business or change of control that causes it to cease being a shell company to disclose the same information, giving effect to the transaction, that it would be required to provide in registering a class of securities under the Exchange Act, including financial statements and pro forma financial information of an acquired business (a so-called "Super 8-K") within four business days after completing the transaction. We anticipate filing such a Super 8-K upon completing a prospective business combination.

● Rule 15-01 of Regulation S-X provides for specific financial statement requirements applicable to acquisitions involving shell companies (other than business combination related shell companies).

● Pursuant to Rule 144(i) "restricted" securities (generally, securities acquired directly or indirectly from the issuer, or from an affiliate of the issuer, in a transaction or chain of transactions not involving any public offering) and "control" securities (generally, securities held by an affiliate of the issuer) issued by a current or former shell company that otherwise meet the holding period and other requirements for resale under Rule 144 nevertheless cannot be sold in reliance on Rule 144 until one year after the issuer (a) is no longer a shell company and (b) has filed current "Form 10 information" (as defined in Rule 144(i)) with the SEC reflecting that it is no longer a shell company, and provided that at the time of a proposed sale pursuant to Rule 144, the issuer is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act and has filed all reports and other materials required to be filed by Section 13 or 15(d) of the Exchange Act, as applicable, during the preceding twelve months, other than Form 8-K reports. As a result, restrictive legends on certificates or book-entry positions for our shares that are "restricted" or "control" securities cannot be removed except in connection with (i) an actual sale meeting the foregoing requirements or (ii) pursuant to an effective registration statement. We anticipate that the Super 8-K that we would file upon completing a prospective business combination would contain the required current "Form 10 information."

 **Blank Check Company**

We are a "blank check company" as defined under Rule 419 of the Securities Act, as amended. Rule 419 imposes certain restrictive requirements on offerings of securities by blank check companies. However, we have no present intention of engaging in an offering of our securities that would be subject to Rule 419 while we remain a blank check company. We anticipate raising funds through an offering of our securities only upon completion of a business combination as a result of which we would no longer be a blank check company. Therefore, we do not anticipate that the provisions of Rule 419 will deter a potential target company from entering into a business combination transaction with us.

**Item 1A. Risk Factors.**

As a "smaller reporting company" as defined in Item 10 of Regulation S-K (17 C.F.R. §229.10(f)(1)), the Company is not required to provide this information.

**Item 2. Financial Information.**

**Management's Discussion and Analysis of Financial Condition and Results of Operation.**

The Company was organized as a vehicle to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly held corporation. The Company has not conducted any active operations since inception, except for its efforts to locate suitable acquisition candidates. No revenue has been generated by the Company since inception. It is unlikely the Company will have any revenues unless it is able to effect an acquisition or merger with an operating company, of which there can be no assurance. The Company's plan of operation for the remainder of the fiscal year shall be to continue its efforts to locate suitable acquisition candidates. Our principal business objective for the next 12 months and beyond such time will be to achieve long-term growth potential through a combination with a business rather than immediate, short-term earnings. The Company will not restrict our potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.

The Company does not currently engage in any business activities that provide cash flow. The costs of investigating and analyzing business combinations for the next 12 months and beyond such time will be paid with funds to be loaned to or invested in us by our stockholders, management or other investors.

During the next 12 months we anticipate incurring costs related to:

(i) filing of Exchange Act reports,
and

(ii) investigating, analyzing and consummating
an acquisition.

We believe we will be able to meet these costs through use of funds to be loaned by or invested in us by our stockholders, management or other investors. There are no assurances that such funds will be advanced or that the Company will be able to secure any additional funding as needed. As of March 31, 2025, and January 31, 2025, the Company had $15,172 and $14,707 in cash, respectively. On January 2, 2025, in connection with advances made in connection with costs incurred by the Company, the Company issued a promissory note to Mark Tompkins, a stockholder and director of the Company, pursuant to which the Company agreed to repay Mr. Tompkins the sum of any and all amounts that Mr. Tompkins may advance to the Company on or before the date that the Company consummates a business combination with a private company or reverse takeover transaction or other transaction after which the Company would cease to be a shell company (as defined in Rule 12b-2 under the Exchange Act). The Company has used the proceeds from the note to cover its expenses. Although Mr. Tompkins has no obligation to advance funds to the Company under the terms of the note, it is anticipated that he may advance funds to the Company as fees and expenses are incurred in the future. As a result, the Company issued the note in anticipation of such advances. Interest shall not accrue on the outstanding principal amount of the note except if an Event of Default (as defined in the note) has occurred. In the event of an Event of Default, the entire note shall automatically become due and payable (the "Default Date") and starting from five (5) days after the Default Date, the interest rate on the note shall accrue at the rate of eighteen percent (18%) per annum. As of March 31, 2025, and January 31, 2025, the total amount due under the note was $10,000. The note is filed herewith as Exhibit 10.1. Except as disclosed herein, we currently have no other agreements or specific arrangements in place with our stockholders, management or other investors.

Our ability to continue as a going concern is dependent upon our ability to generate future profitable operations and/or to obtain the necessary financing to meet our obligations and repay our liabilities arising from normal business operations when they come due. Our ability to continue as a going concern is also dependent on our ability to find a suitable target company and enter into a possible reverse merger with such company. Management's plan includes obtaining additional funds by equity financing through a reverse merger transaction and/or related party advances, however there is no assurance of additional funding being available.

The Company, as of March 31, 2025 and as of January 31, 2025, had $15,172 and $14,707 in cash, respectively, and has not earned any revenues from operations to date. In the next 12 months, we expect to incur expenses equal to approximately $40,000 related to legal, accounting, audit, and other professional service fees incurred in relation to the Company's Exchange Act filing requirements. The costs related to the acquisition of a business combination target company vary widely and are dependent on a variety of factors including, but not limited to, the amount of time it takes to complete a business combination, the location of the target company, the size and complexity of the business of the target company, whether stockholders of the Company prior to the transaction will retain equity in the Company, the scope of the due diligence investigation required, the involvement of the Company's auditors in the transaction, possible changes in the Company's capital structure in connection with the transaction, and whether funds may be raised contemporaneously with the transaction. Therefore, we believe such costs are unascertainable until the Company identifies a business combination target. These conditions raise substantial doubt about our ability to continue as a going concern. The Company is currently devoting its efforts to locating merger candidates. The Company's ability to continue as a going concern is dependent upon our ability to develop additional sources of capital, locate and complete a merger with another company, and ultimately, achieve profitable operations.

The Company may consider a business, which has recently commenced operations, as a developing company in need of additional funds for expansion into new products or markets, is seeking to develop a new product or service, or is an established business which may be experiencing financial or operating difficulties and is in need of additional capital. Our management believes that the public company status that results from a combination with the Company will provide such company greater access to the capital markets, increase its visibility in the investment community, and offer the opportunity to utilize its stock to make acquisitions. There is no assurance that we will in fact have access to additional capital or financing as a public company. In the alternative, a business combination may involve the acquisition of, or merger with, a company which does not need substantial additional capital, but which desires to establish a public trading market for its shares, while avoiding, among other things, the time delays, significant expense, and loss of voting control which may occur in a public offering.

Our officer and directors have not had any preliminary contact or discussions with any representative of any other entity regarding a business combination with us. Any target business that is selected may be a financially unstable company or an entity in its early stages of development or growth, including entities without established records of sales or earnings. In that event, we will be subject to numerous risks inherent in the business and operations of financially unstable and early stage or potential emerging growth companies. In addition, we may effect a business combination with an entity in an industry characterized by a high level of risk, and, although our management will endeavor to evaluate the risks inherent in a particular target business, there can be no assurance that we will properly ascertain or assess all significant risks.

Our management anticipates that it will likely be able to effect only one business combination, due primarily to our limited financing and the dilution of interest for present and prospective stockholders, which is likely to occur as a result of our management's plan to offer a controlling interest to a target business in order to achieve a tax-free reorganization. This lack of diversification should be considered a substantial risk in investing in us, because it will not permit us to offset potential losses from one venture against gains from another.

The Company anticipates that the selection of a business combination will be complex and extremely risky. While the Company is in a competitive market with a small number of business opportunities, through information obtained from industry professionals including attorneys, investment bankers, and other consultants with experience in the reverse merger industry, our management believes that there are opportunities for a business combination with firms seeking the perceived benefits of becoming a publicly traded corporation. Such perceived benefits of becoming a publicly traded corporation include, among other things, facilitating or improving the terms on which additional equity financing may be obtained, providing liquidity for the principals of and investors in a business, creating a means for providing incentive stock options or similar benefits to key employees, and offering greater flexibility in structuring acquisitions, joint ventures and the like through the issuance of stock. Potentially available business combinations may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex.

We do not currently intend to retain any entity to act as a "finder" to identify and analyze the merits of potential target businesses. However, we contemplate that Montrose Capital may introduce business combination opportunities to us. There are currently no agreements or preliminary agreements between us and Montrose Capital.

We have not established a specific timeline nor have we created a specific plan to identify an acquisition target and consummate a business combination. We expect that our management and the Company, through its various contacts and affiliations with other entities, including Montrose Capital, will locate a business combination target. We expect that funds in the amount of approximately $40,000 will be required in order for the Company to satisfy its Exchange Act reporting requirements during the next 12 months, in addition to any other funds that will be required in order to complete a business combination. Such funds can only be estimated upon identifying a business combination target. Our management and stockholders have indicated an intent to advance funds on behalf of the Company as needed in order to accomplish its business plan and comply with its Exchange Act reporting requirements, however, there are no agreements in effect between the Company and our management or stockholders specifically requiring they provide any funds to the Company. Therefore, there are no assurances that the Company will be able to obtain the required financing as needed in order to consummate a business combination transaction.

**Off-Balance Sheet Arrangements**

We have not entered into any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources and would be considered material to investors.

**Item 3. Properties.**

The Company neither rents nor owns any properties. The Company utilizes the office space and equipment of its management at no cost. Given the limited need of the Company, management believes that the office space is more than suitable and adequate. The Company currently has no policy with respect to investments or interests in real estate, real estate mortgages or securities of, or interests in, persons primarily engaged in real estate activities.

**Item 4. Security Ownership of Certain Beneficial Owners and Management.**

The following table sets forth, as of the date of this filing, the number of shares of Common Stock owned of record and beneficially by the Company's directors and officers:

---

| | | |
|:---|:---|:---|
| Name and Address | Amount and Nature of<br> Beneficial Ownership | Percentage of<br> Class |
| Mark Tompkins<sup>(1)</sup> Apt. 1, Via Guidino 23,<br> 6900 Lugano<br> Paradiso, Switzerland | 4750000 | 95% |
| Ian Jacobs<sup>(2)</sup> 55 NE 5<sup>th</sup> Ave, Suite 401,<br> Boca Raton, FL 33432 | 250000 | 5% |
| All Directors and Officers as a Group<br> (2 individuals) | 5000000 | 100% |

---

(1) Mark Tompkins serves as a director
of the Company.

(2) Ian Jacobs serves as President, Secretary, Chief Executive Officer,
Chief Financial Officer and a director of the Company.

**Item 5. Directors and Executive Officers.**

(a) Identification of Directors and
Executive Officers.

Our officer and directors, and additional information concerning each of them, are as follows:

---

| | | |
|:---|:---|:---|
| Name | Age | Position |
| Ian Jacobs | 48 | President, Secretary, Chief Executive Officer, Chief Financial Officer and Director |
| Mark Tompkins | 62 | Director |

---

**Ian Jacobs** has served as the Company's President, Secretary, Chief Executive Officer, Chief Financial Officer and Director since inception. Mr. Jacobs has also served as President, Secretary, Chief Executive Officer, Chief Financial Officer and as a Director of, of Aspen-1 Acquisition Inc. since December 10, 2021, and Surfside Acquisition Inc. since December 10, 2021. Mr. Jacobs previously served as the President, Secretary, Chief Executive Officer, Chief Financial Officer and Director of Max-1 Acquisition Corporation, now known as Exicure, Inc. [Nasdaq: XCUR], from February 2017 to September 2017, of Lola One Acquisition Corporation, now known as Amesite Inc. [Nasdaq: AMST], from April 2017 to April 2018, of Peninsula Acquisition Corporation, now known as Transphorm, Inc. [Nasdaq: TGAN], from June 2017 to February 2020, of Olivia Ventures, Inc., now known as Compass Therapeutics, Inc. [Nasdaq: CMPX], from March 2018 to June 2020, of Malo Holdings Corporation, now known as Augmedix, Inc. [Nasdaq: AUGX], from December 2018 to October 2020, of Odyssey Semiconductor Technologies, Inc. [OTCQB: ODII], from April 2019 to June 2019, of Parasol Investments Corporation, now known as SmartKem, Inc. [OTCQB:SMTK], from May 2020 to February 2021, of Parc Investments, Inc., now known as Aeluma, Inc., from August 2020 to June 2021, of Laffin Acquisition Corp., now known as Guerrilla RF, Inc., from November 2020 to October 2021, of Perfect Moment Ltd. [NYSE: PMNT] from January 2021 to March 2021, of Patricia Acquisition Corp., now known as Serve Robotics Inc. [Nasdaq: SERV], from November 9, 2020 to July 31, 2023, and of Venetian-1 Acquisition Corp., now known as Lomond Therapeutics Holdings, Inc., from September 24, 2021 to November 1, 2024. Mr. Jacobs has also been an associate of Montrose Capital Partners Limited, or Montrose Capital, since 2008. Montrose Capital is a privately held company, which focuses on identifying public markets venture capital investment opportunities in high growth early stage companies. Montrose Capital is a sector agnostic privately held firm which has identified and invested, through its principal owners, in a wide spectrum of global industries, including in biotechnology, specialty pharmaceuticals, medical devices, robotics, and technology. Mr. Jacobs received a B.S. in Finance from the University of South Florida. Mr. Jacobs' past experience identifying investment opportunities and investing in early stage companies will be beneficial to the Company as its seeks to identify a business combination target which led to the conclusion that he should serve as a director of the Company.

**Mark Tompkins** has served as a Director of the Company since inception. Mr. Tompkins has also served as a Director of Aspen-1 Acquisition Inc. since December 10, 2021, and Surfside Acquisition Inc. since December 10, 2021. Mr. Tompkins previously served as a Director of Max-1 Acquisition Corporation, now known as Exicure, Inc. [Nasdaq: XCUR], from February 2017 to September 2017, of Lola One Acquisition Corporation, now known as Amesite Inc. [Nasdaq: AMST], from April 2017 to April 2018, of Peninsula Acquisition Corporation, now known as Transphorm, Inc. [Nasdaq: TGAN], from June 2017 to February 2020, of Olivia Ventures, Inc., now known as Compass Therapeutics, Inc. [Nasdaq: CMPX], from March 2018 to June 2020, of Malo Holdings Corporation, now known as Augmedix, Inc. [Nasdaq: AUGX], from December 2018 to October 2020, of Odyssey Semiconductor Technologies, Inc. [OTCQB: ODII], from April 2019 to June 2019, of Parasol Investments Corporation, now known as SmartKem, Inc. [OTCQB:SMTK], from May 2020 to February 2021, of Parc Investments, Inc., now known as Aeluma, Inc., from August 2020 to June 2021, of Laffin Acquisition Corp., now known as Guerrilla RF, Inc., from November 2020 to October 2021, of Perfect Moment Ltd. [NYSE: PMNT] from January 2021 to March 2021, of Patricia Acquisition Corp., now known as Serve Robotics Inc. [Nasdaq: SERV], from November 9, 2020 to July 31, 2023, and of Venetian-1 Acquisition Corp., now known as Lomond Therapeutics Holdings, Inc., from September 24, 2021 to November 1, 2024. Mr. Tompkins is a founder of Montrose Capital and has served as its President since its inception in 2001. Montrose Capital is a privately held company, which focuses on identifying public markets venture capital investment opportunities in high growth early stage companies. Montrose Capital is a sector agnostic privately held firm which has identified and invested, through its principal owners, in a wide spectrum of global industries, including in biotechnology, specialty pharmaceuticals, medical devices, robotics, and technology. Mr. Tompkins' past experience identifying investment opportunities and investing in early stage companies will be beneficial to the Company as its seeks to identify a business combination target which led to the conclusion that he should serve as a director of the Company.

(b) Significant Employees.

None.

(c) Family Relationships.

None.

(d) Involvement in Certain Legal Proceedings.

There have been no events under any bankruptcy act, no criminal proceedings and no judgments, injunctions, orders or decrees material to the evaluation of the ability and integrity of any director, executive officer, promoter or control person of the Registrant during the past ten years.

**Item 6. Executive Compensation.**

The following table sets forth the cash and other compensation paid by the Company to its officer and directors during the period from inception (January 2, 2025) through March 31, 2025.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  Name and Position | Period | Salary | Bonus | Option Awards | All other Compensation | Total |
|  Ian Jacobs (1) <br> President, Secretary,<br> Chief Financial Officer and <br> Director | January 2, 2025<br> (inception) through<br> March 31, 2025 |  |  |  |  |  |
|  Mark Tompkins (2) <br> Director | January 2, 2025<br> (inception) through<br> March 31, 2025 |  |  |  |  |  |

---

(1) Ian Jacobs was appointed to serve as a member of the Company's
board of directors and as its President, Secretary, Chief Executive Officer and Chief Financial Officer on January 2, 2025.

(2) Mark Tompkins was appointed to
serve as a member of the Company's board of directors on January 2, 2025.

The following compensation discussion addresses all compensation awarded to, earned by, or paid to the Company's named executive officers. The Company's officer and directors have not received any cash or other compensation since inception through the date of this filing. No compensation of any nature has been paid for on account of services rendered by a director in such capacity.

It is possible that, after the Company successfully consummates a business combination with an unaffiliated entity, that entity may desire to employ or retain members of our management for the purposes of providing services to the surviving entity.

No retirement, pension, profit sharing, stock option or insurance programs or other similar programs have been adopted by the Company for the benefit of its employees.

Except as otherwise disclosed herein, there are currently no understandings or agreements regarding compensation our management will receive after a business combination.

**<u>Compensation Committee and Insider Participation</u>**

The Company does not have a standing compensation committee or a committee performing similar functions.

**Item 7. Certain Relationships and Related Transactions, and Director Independence.**

**<u>Certain Relationships and Related Transactions</u>**

On January 2, 2025, the Company issued (i) an aggregate of 4,750,000 shares of Common Stock to Mark Tompkins, a director of the Company, for an aggregate purchase price equal to $475 and (ii) an aggregate of 250,000 shares of Common Stock to Ian Jacobs, an officer and director of the Company, for an aggregate cash purchase price equal to $25, pursuant to the terms and conditions set forth in the Common Stock Purchase Agreement with each person. The Company issued these shares of Common Stock under the exemption from registration provided by Section 4(a)(2) of the Securities Act. The Common Stock Purchase Agreements are filed herewith as Exhibit 10.2 and Exhibit 10.3, respectively.

On January 2, 2025, in connection with advances made in connection with costs incurred by the Company, the Company issued a promissory note to Mark Tompkins, a stockholder and director of the Company, pursuant to which the Company agreed to repay Mr. Tompkins the sum of any and all amounts that Mr. Tompkins may advance to the Company on or before the date that the Company consummates a business combination with a private company or reverse takeover transaction or other transaction after which the Company would cease to be a shell company (as defined in Rule 12b-2 under the Exchange Act). The Company has used the proceeds from the note to cover its expenses. Although Mr. Tompkins has no obligation to advance funds to the Company under the terms of the note, it is anticipated that he may advance funds to the Company as fees and expenses are incurred in the future. As a result, the Company issued the note in anticipation of such advances. Interest shall not accrue on the outstanding principal amount of the note except if an Event of Default (as defined in the note) has occurred. In the event of an Event of Default, the entire note shall automatically become due and payable (the "Default Date") and starting from five (5) days after the Default Date, the interest rate on the note shall accrue at the rate of eighteen percent (18%) per annum. As of March 31, 2025, and January 31, 2025, the total amount due under the note was $10,000. The note is filed herewith as Exhibit 10.1.

On January 8<sup>th</sup> Mr. Jacobs paid $100 as an advance from stockholder to open new bank account, and on January 21<sup>st</sup> Mr. Tompkins advanced $5,000 to the company for future expenses. As of March 31, 2025 and January 31, 2025, the total amount of advances from stockholders was $5,100.

The Company currently uses the office space and equipment of its management at no cost.

**<u>Promoters and Certain Control Persons</u>**

The Company's management, through its various contacts and affiliations with other entities, including Montrose Capital, may assist the Company with due diligence in identifying a business combination target. There are currently no agreements or preliminary agreements between us and any other entities including but not limited to Montrose Capital. As of this date, Montrose Capital has not introduced any specific candidate for a potential business combination to the Company. If Montrose Capital identifies or introduces any potential business combination opportunities to the Company, the principal owners of Montrose Capital, including members of our management may purchase securities in the Company.

The directors and officer of the Company may also be deemed to be or to have been promoters of the following current or former blank check companies.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Name | Registration<br> Statement<br> Filing Date | SEC File<br> Number | Status | Pending/Completed<br> Business Combinations | Additional<br> Information |
| Surfside Acquisition Inc. | 3/15/2022 | 000-56407 | Effective<br> 4/20/2022 |  | Mark Tompkins and Ian Jacobs have served as directors of the company since 12/10/2021. Ian Jacobs has also served as the President, Secretary, Chief Executive Officer and Chief Financial Officer of the company since 12/10/2021. |
| Aspen-1 Acquisition Inc. | 3/15/2022 | 000-56406 | Effective <br> 4/20/2022 |  | Mark Tompkins and Ian Jacobs have served as directors of the company since 12/10/2021. Ian Jacobs has also served as the President, Secretary, Chief Executive Officer and Chief Financial Officer of the company since 12/10/2021. |
| Lomond Therapeutics Holdings, Inc. (formerly Venetian-1 Acquisition Corp.) | 12/21/2021 | 000-56377 | Effective<br> 02/10/2022 | On November 1, 2024, a wholly-owned subsidiary of Venetian-1 Acquisition Corp. merged with and into Lomond Therapeutics, Inc., a Delaware corporation, with Lomond Therapeutics, Inc. surviving as the wholly-owned subsidiary of Venetian-1 Acquisition Corp. Venetian-1 Acquisition Corp. changed its name to "Lomond Therapeutics Holdings, Inc." | Mark Tompkins served as a director of the company and Ian Jacobs served as President, Secretary, Chief Executive Officer, Chief Financial Officer, and a director of the Company from inception until the closing of the merger with Lomond Therapeutics, Inc., at which time they resigned. |
| Serve Robotics Inc. (formerly Patricia Acquisition Corp.) | 1/04/2021 | 000-56237 | Effective<br> 3/5/2021 | On July 31, 2023, a wholly-owned subsidiary of Patricia Acquisition Corp. merged with and into Serve Robotics Inc., a Delaware corporation, with Serve Robotics Inc. surviving as the wholly-owned subsidiary of Patricia Acquisition Corp. Patricia Acquisition Corp. changed its name to "Serve Robotics Inc." | Mark Tompkins served as a director of the company and Ian Jacobs served as President, Secretary, Chief Executive Officer, Chief Financial Officer and a director of the company from inception until the closing of the merger with Serve Robotics Inc., at which time they resigned. |
| Guerrilla RF, Inc. (formerly Laffin Acquisition Corp.) | 1/04/2021 | 000-56238 | Effective<br> 3/5/2021 | On October 22, 2021, a wholly-owned subsidiary of Laffin Acquisition Corp. merged with and into Guerrilla RF, Inc., a Delaware corporation, with Guerrilla RF, Inc. surviving as the wholly-owned subsidiary of Laffin Acquisition Corp. Laffin Acquisition Corp. changed its name to "Guerrilla RF, Inc." | Mark Tompkins served as a director, and Ian Jacobs served as President, Secretary, Chief Executive Officer, Chief Financial Officer and a director of the company from inception until the closing of the merger with Guerrilla RF, Inc., at which time they resigned. |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Aeluma, Inc. (formerly Parc Investments, Inc.) | 10/21/2020 | 000-56218 | Effective<br> 12/01/2020 | On June 22, 2021, Biond Photonics, Inc., a California corporation, merged with and into a wholly-owned subsidiary of Parc Investments, Inc, with Biond Photonics, Inc., surviving as the wholly-owned subsidiary of Parc Investments, Inc. Parc Investments, Inc. changed its name to "Aeluma, Inc." | Mark Tompkins served as a director, and Ian Jacobs served as President, Secretary, Chief Executive Officer, Chief Financial Officer and a director of the company from inception until the closing of the merger with Biond Photonics, Inc., at which time they resigned. |
| SmartKem, Inc. (formerly Parasol Investments Corporation) | 7/13/2020 | 000-56181 | Effective<br> 8/17/2020 | On February 23, 2021, Parasol Investments Corporation consummated a share exchange with SmartKem Limited, a private company incorporated under the Laws of England and Wales, and the shareholders of SmartKem Limited, pursuant to which all of the equity interests in SmartKem Limited, were either exchanged for shares of common stock of Parasol Investments Corporation or were purchased by Parasol Investments Corporation, and SmartKem Limited became the wholly owned subsidiary of Parasol Investments Corporation. Parasol Investments Corporation changed its name to "SmartKem, Inc." | Mark Tompkins served as a director, and Ian Jacobs served as President, Secretary, Chief Executive Officer, Chief Financial Officer and a director of the company from inception until the closing of the share exchange with SmartKem Limited, at which time they resigned. |
| Augmedix, Inc. (formerly Malo Holdings Corporation) | 3/14/2019 | 000-56036 | Effective<br> 05/13/2019 | On October 5, 2020, a wholly-owned subsidiary of Malo Holdings Corporation merged with and into Augmedix, Inc., a Delaware corporation, with Augmedix, Inc. surviving as the wholly-owned subsidiary of Malo Holdings Corporation. Malo Holdings Corporation changed its name to "Augmedix, Inc." | Mark Tompkins served as a director, and Ian Jacobs served as President, Secretary, Chief Executive Officer, Chief Financial Officer and a director of the company from inception until the closing of the merger with Augmedix, Inc., at which time they resigned. |

---

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Compass Therapeutics, Inc. (formerly Olivia Ventures, Inc.) | 5/30/2018 | 000-55939 | Effective<br> 7/29/2018 | On June 17, 2020, a wholly-owned subsidiary of Olivia Ventures, Inc., merged with and into Compass Therapeutics LLC, with Compass Therapeutics LLC surviving as the wholly-owned subsidiary of Olivia Ventures, Inc. Olivia Ventures Inc. changed its name to "Compass Therapeutics, Inc." | Mark Tompkins served as a director, and Ian Jacobs served as President, Secretary, Chief Executive Officer, Chief Financial Officer and a director of the company from inception until the closing of the merger with Compass Therapeutics LLC, at which time they resigned. |
| Transphorm, Inc. (formerly Peninsula Acquisition Corporation) | 8/29/2017 | 000-55832 | Effective<br> 10/28/2017 | On February 12, 2020, a wholly-owned subsidiary of Peninsula Acquisition Corporation, merged with and into Transphorm, Inc., whereby Transphorm Inc. was the surviving corporation and became a wholly-owned subsidiary of Peninsula Acquisition Corporation. Following the consummation of the Merger, Transphorm, Inc. changed its name to "Transphorm Technology, Inc." and Peninsula Acquisition Corporation changed its name to "Transphorm Inc." | Mark Tompkins served as a director, and Ian Jacobs served as President, Secretary, Chief Executive Officer, Chief Financial Officer and a director of the company from inception until the closing of the merger with Transphorm, Inc., at which time they resigned. |
| Amesite Inc. (formerly Lola One Acquisition Corporation) | 6/27/2017 | 000-55804 | Effective<br> 8/26/2017 | On April 27, 2018, a wholly owned subsidiary of Lola One Acquisition Corporation, merged with and into Amesite Operating Company, with Amesite Operating Company surviving as the wholly owned subsidiary of Lola One Acquisition Corporation. Lola One Acquisition Corporation changed its name to "Amesite Inc." | Mark Tompkins served as a director, and Ian Jacobs served as President, Secretary, Chief Executive Officer, Chief Financial Officer and a director of the company from inception until the closing of the merger with Amesite Operating Company, at which time they resigned. |
| Exicure, Inc. (formerly Max-1 Acquisition Corporation) | 3/21/2017 | 000-55764 | Effective<br> 5/20/2017 | On September 26, 2017, a wholly owned subsidiary of Max-1 Acquisition Corporation, merged with and into Exicure Operating Company, with Exicure Operating Company surviving as the wholly owned subsidiary of Max-1 Acquisition Corporation. of Max-1 Acquisition Corporation changed its name to "Exicure, Inc." | Mark Tompkins served as a director, and Ian Jacobs served as President, Secretary, Chief Executive Officer, Chief Financial Officer and a director of the company from inception until the closing of the merger with Exicure Operating Company, at which time they resigned. |

---

**<u>Director Independence</u>**

Our Common Stock is not quoted or listed on any national exchange or interdealer quotation system with a requirement that a majority of our board of directors be independent and therefore, the Company is not subject to any director independence requirements. Under NASDAQ Rule 5605(a)(2)(A), a director is not considered to be independent if he or she also is an executive officer or employee of the corporation. Under such definition, one of our directors, Ian Jacobs, would not be considered independent as he serves as an officer of the Company.

Except as otherwise indicated herein, there have been no other related party transactions, or any other transactions or relationships required to be disclosed pursuant to Item 404 and Item 407(a) of Regulation S-K.

**Item 8. Legal Proceedings.**

There are presently no pending legal proceedings to which the Company or any of its property is subject, or any material proceedings to which any director, officer or affiliate of the Registrant, any owner of record or beneficially of more than five percent of any class of voting securities is a party or has a material interest adverse to the Company, and no such proceedings are known to the Registrant to be threatened or contemplated against it.

**Item 9. Market Price of and Dividends on the Registrant's Common Equity and Related Stockholder Matters.**

(a) Market Information.

The Common Stock is not trading on any stock exchange. The Company is not aware of any market activity in its Common Stock since its inception through the date of this filing.

 **Securities authorized for sale under Rule 144 of the Securities Act or that the Company has agreed to register under the Securities Act in the future; or Securities that are being, or is proposed to be, publicly offered by the company, the offering of which could have a material effect on the market price of its common equity.**

None.

(b) Holders.

As of the date of this filing, there were two record holders of an aggregate of 5,000,000 shares of the Common Stock issued and outstanding.

(c) Dividends.

The Registrant has not paid any cash dividends to date and does not anticipate or contemplate paying dividends in the foreseeable future. It is the present intention of management to utilize all available funds for the development of the Registrant's business.

(d) Securities Authorized for Issuance under Equity Compensation Plans.

None.

**Item 10. Recent Sales of Unregistered Securities.**

On January 2, 2025, the Company issued an aggregate of 4,750,000 shares of Common Stock to Mark Tompkins for an aggregate purchase price equal to $475 and an aggregate of 250,000 shares of Common Stock to Ian Jacobs for an aggregate cash purchase price equal to $25, pursuant to the terms and conditions set forth in the Common Stock Purchase Agreement with each person. The Common Stock Purchase Agreements are filed herewith as Exhibit 10.2 and Exhibit 10.3, respectively.

The proceeds from the sale of the securities described above will be used for working capital and general and administrative expenses. No securities have been issued for services. Neither the Registrant nor any person acting on its behalf offered or sold the securities by means of any form of general solicitation or general advertising. No services were performed by any purchaser as consideration for the shares issued. The sale of the securities identified above were made pursuant to a privately negotiated transaction that did not involve a public offering of securities and, accordingly, was exempt from the registration requirements of the Securities Act pursuant to Section 4(a)(2) thereof and the rules promulgated thereunder.

**Item 11. Description of Registrant's Securities to be Registered.**

(a) Capital Stock.

The Company is authorized by its Certificate of Incorporation to issue an aggregate of 60,000,000 shares of capital stock, of which 50,000,000 are shares of Common Stock and 10,000,000 are shares of Preferred Stock. As of the date of filing this Registration Statement, 5,000,000 shares of Common Stock and zero shares of Preferred Stock were issued and outstanding.

*Common Stock*

All outstanding shares of Common Stock are of the same class and have equal rights and attributes. The holders of Common Stock are entitled to one vote per share on all matters submitted to a vote of stockholders of the Company. All stockholders are entitled to share equally in dividends, if any, as may be declared from time to time by the Company's board of directors out of funds legally available. In the event of liquidation, the holders of Common Stock are entitled to share ratably in all assets remaining after payment of all liabilities. The stockholders do not have cumulative or preemptive rights.

*Preferred Stock*

Our Certificate of Incorporation authorizes the issuance of up to 10,000,000 shares of Preferred Stock with designations, rights and preferences determined from time to time by our board of directors. Accordingly, our board of directors is empowered, without stockholder approval, to issue Preferred Stock with dividend, liquidation, conversion, voting, or other rights which could adversely affect the voting power or other rights of the holders of the Common Stock. In the event of issuance, the Preferred Stock could be utilized, under certain circumstances, as a method of discouraging, delaying or preventing a change in control of the Company. Although we have no present intention to issue any shares of our authorized Preferred Stock, there can be no assurance that the Company will not do so in the future.

The description of certain matters relating to the securities of the Company is a summary and is qualified in its entirety by the provisions of the Company's Certificate of Incorporation and By-Laws, copies of which are filed herewith as exhibits.

(b) Debt Securities.

None.

(c) Warrants and Rights.

None.

(d) Other Securities to Be Registered.

None.

**Item 12. Indemnification of Directors and Officers.**

Section 145 of the Delaware General Corporation Law provides that a corporation may indemnify directors and officers as well as other employees and individuals against expenses including attorneys' fees, judgments, fines and amounts paid in settlement in connection with various actions, suits or proceedings, whether civil, criminal, administrative or investigative other than an action by or in the right of the corporation, a derivative action, if they acted in good faith and in a manner they reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, if they had no reasonable cause to believe their conduct was unlawful. A similar standard is applicable in the case of derivative actions, except that indemnification only extends to expenses including attorneys' fees incurred in connection with the defense or settlement of such actions, and the statute requires court approval before there can be any indemnification where the person seeking indemnification has been found liable to the corporation. The statute provides that it is not exclusive of other indemnification that may be granted by a corporation's certificate of incorporation, bylaws, agreement, a vote of stockholders or disinterested directors or otherwise.

The Company's Certificate of Incorporation provides that it will indemnify and hold harmless, to the fullest extent permitted by Section 145 of the Delaware General Corporation Law, as amended from time to time, each person that such section grants us the power to indemnify.

The Delaware General Corporation Law permits a corporation to provide in its certificate of incorporation that a director of the corporation shall not be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability for:

● any breach of the director's duty of loyalty to the corporation or its stockholders;

● acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law;

● payments of unlawful dividends or unlawful stock repurchases or redemptions; or

● any transaction from which the director derived an improper personal benefit.

The Company's Certificate of Incorporation provides that, to the fullest extent permitted by applicable law, none of our directors will be personally liable to us or our stockholders for monetary damages for breach of fiduciary duty as a director. Any repeal or modification of this provision will be prospective only and will not adversely affect any limitation, right or protection of a director of our company existing at the time of such repeal or modification.

**Item 13. Financial Statements and Supplementary Data.**

The Company's financial statements included in this Registration Statement on Form 10, including an index thereto, are set forth on page F-1 after the Signature page and are incorporated herein by reference.

**Item 14. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.**

There are not and have not been any disagreements between the Registrant and its accountants on any matter of accounting principles, practices or financial statement disclosure.

**Item 15. Financial Statements and Exhibits.**

(a) Financial Statements.

The financial statements included in this Registration Statement on Form 10 are listed in Item 13 and commence following the signature page.

(b) Exhibits.

---

| | |
|:---|:---|
| Exhibit<br> Number | Description |
| 3.1\* | [Certificate of Incorporation](http://www.sec.gov/Archives/edgar/data/2066067/000121390025043299/ea023599701ex3-1_orielleacq.htm) |
| 3.2\* | [By-Laws](http://www.sec.gov/Archives/edgar/data/2066067/000121390025043299/ea023599701ex3-2_orielleacq.htm) |
| 10.1\* | [Promissory Note issued by the Company to Mark Tompkins, dated January 2, 2025](http://www.sec.gov/Archives/edgar/data/2066067/000121390025043299/ea023599701ex10-1_orielleacq.htm) |
| 10.2\* | [Common Stock Purchase Agreement by and between the Company and Mark Tompkins, dated January 2, 2025](http://www.sec.gov/Archives/edgar/data/2066067/000121390025043299/ea023599701ex10-2_orielleacq.htm) |
| 10.3\* | [Common Stock Purchase Agreement by and between the Company and Ian Jacobs, dated January 2, 2025](http://www.sec.gov/Archives/edgar/data/2066067/000121390025043299/ea023599701ex10-3_orielleacq.htm) |

---

\* Previously filed

**SIGNATURES**

Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **ORIELLE ACQUISITION CORP.** | **ORIELLE ACQUISITION CORP.** |
| Date: June 25, 2025 | By: | */s/ Ian Jacobs* |
|  |  | Ian Jacobs |
|  |  | President, Secretary, |
|  |  | Chief Financial Officer and Director |
|  |  | Principal Executive Officer |
|  |  | Principal Financial Officer |
|  |  | Principal Accounting Officer |

---

**ORIELLE ACQUISITION CORP.**

INDEX TO FINANCIAL STATEMENTS

---

| | |
|:---|:---|
| Statement | Page |
|  [Index to Financial Statements](#fin_001a) | F-1 |
|  [Report of Independent Registered Public Accounting Firm](#fin_001) | F-2 |
|  [Balance Sheet as of January 31, 2025](#fin_002) | F-3 |
|  [Statement of Operations for the Period from January 2, 2025 (Inception) to January 31, 2025](#fin_003) | F-4 |
|  [Statement of Changes in Stockholders' Equity for the Period from January 2, 2025 (Inception) to January 31, 2025](#fin_004) | F-5 |
|  [Statement of Cash Flows for the Period from January 2, 2025 (Inception) to January 31, 2025](#fin_005) | F-6 |
|  [Notes to Financial Statements](#fin_006) | F-7 |
| [Condensed Balance Sheet as of March 31, 2025 (Unaudited)](#j_001) | F-10 |
| [Condensed Statement of Operations for the Period from January 2, 2025 (Inception to March 31, 2025 (Unaudited)](#j_002) | F-11 |
| [Condensed Statement of Changes in Stockholder's Equity for the Period from January 2, 2025 (Inception) to March 31, 2025 (Unaudited)](#j_003) | F-12 |
| [Condensed Statement of Cash Flows for the Period from January 2, 2025 (Inception) to March 31, 2025 (Unaudited)](#j_004) | F-13 |
| [Notes to Condensed Financial Statements](#j_005) | F-14 |

---

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors<br> Orielle Acquisition Corp.

Boca Raton, Florida

**Opinion on the Financial Statements**

We have audited the accompanying balance sheet of Orielle Acquisition Corp. (the "Company") as of January 31, 2025, and the related statements of operations, changes in stockholders' deficit, and cash flows for the period from January 2, 2025 ("inception") through January 31, 2025, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of January 31, 2025, and the results of its operations and its cash flows for the period from January 2, 2025 ("inception") through January 31, 2025, in conformity with accounting principles generally accepted in the United States of America.

**Substantial Doubt About the Company's Ability to Continue as a Going Concern**

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 6 to the financial statements, the Company has incurred losses from inception, which raises substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 6. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

**Basis for Opinion**

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

![](image_001.jpg)

/s/ GRASSI & CO., CPAs, P.C.

PCAOB ID # 606

We have served as the Company's auditors since 2025.

Jericho, New York

May 13, 2025

**ORIELLE ACQUISITION CORP.**

BALANCE SHEET

JANUARY 31, 2025

---

| | |
|:---|:---|
| **ASSETS** | |
| **Current assets** | |
| Cash | $14707 |
| Total current assets | 14707 |
| **Total assets** | $**14707** |
| **LIABILITIES AND STOCKHOLDERS' DEFICIT** |  |
| **Current liabilities** |  |
| Note payable - stockholder | 10000 |
| Advances from stockholders | 5100 |
| Total current liabilities | 15100 |
| Total liabilities | **15100** |
| Commitments and contingencies |  |
| **Stockholders' deficit** |  |
| Preferred stock, $0.0001 par value; 10,000,000 shares authorized; none issued and outstanding |  |
| Common stock, $0.0001 par value, 50,000,000 shares authorized, 5,000,000 shares issued and outstanding | 500 |
| Stock subscription receivable | (475) |
| Accumulated deficit | (418) |
| Total stockholders' deficit | (393) |
| **Total liabilities and stockholders' deficit** | $**14707** |

---

*See accompanying notes to financial statements.*

**ORIELLE ACQUISITION CORP.**

STATEMENT OF OPERATIONS

For the period January 2, 2025

(Inception) to January 31, 2025

---

| | |
|:---|:---|
| Revenue | $- |
| General and administrative expenses | 418 |
| Loss from operations | (418) |
| **Net loss** | $**(418)** |
| Weighted average common stock outstanding, basic and diluted | 5000000 |
| **Net loss per share of common stock, basic and diluted** | $(0.00) |

---

*See accompanying notes to financial statements.*

**ORIELLE ACQUSITION CORP.**

STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT

For the period January 2, 2025

(Inception) to January 31, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | | |
|  | **Shares** | **Amount** | **Stock subscription**<br> **receivable** | **Accumulated**<br> **Deficit** | **Total<br> Stockholders'**<br> **Deficit** |
| **Balances – January 2, 2025 (inception)** |  | $**-** | $**-** | $**-** | $**-** |
| Issuance of common stock | 5000000 | 500 | (475) |  | 25 |
| Net loss | - | - |  | (418) | (418) |
| **Balances – January 31, 2025** | **5000000** | $**500** | $**(475)** | $**(418)** | $**(393)** |

---

*See accompanying notes to financial statements.*

**ORIELLE ACQUISITION CORP.**

STATEMENT OF CASH FLOWS

---

| | |
|:---|:---|
|  | For the period January 2,<br> 2025 (Inception)<br>to January 31, <br> 2025 |
| **Cash flows from operating activities:** |  |
| Net loss | $(418) |
| &nbsp;&nbsp;&nbsp; **Net cash used in operating activities** | (418) |
| **Cash flows from financing activities:** |  |
| Proceeds from stockholder advances | 5100 |
| Proceeds from issuance of common stock | 25 |
| Proceeds from note payable - stockholder | 10000 |
| &nbsp;&nbsp;&nbsp; **Net cash provided by financing activities** | 15125 |
| **Net change in cash** | 14707 |
| Cash - beginning of period | - |
| **Cash - end of period** | $**14707** |
| **Non-cash investing and financing activities:** |  |
| Stock subscription receivable for issuance of 4,750,000 shares of common stock | $475 |

---

*See accompanying notes to financial statements.*

**ORIELLE ACQUISITION CORP.**

NOTES TO FINANCIAL STATEMENTS

January 31, 2025

**Note 1. <u>Nature of Operations</u>**

Orielle Acquisition Corp.(the "Company") was incorporated in the State of Delaware on January 2, 2025. The Company's management has chosen December 31st for its fiscal year end.

The Company was organized as a vehicle to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly traded corporation. The Company's principal business objective is to achieve long-term growth potential through a combination with a business, rather than immediate short-term earnings. The Company will not restrict its potential target companies to any specific business, industry, or geographical location. The analysis of business opportunities will be undertaken by, or under the supervision of, the officer and directors of the Company.

**Note 2. <u>Basis of Presentation and Summar</u>y <u>of Significant Accounting Policies</u>**

<u>Basis of Presentation</u>

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (*"GAAP* ").

<u>Use of Estimates</u>

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

<u>Income Taxes</u>

The Company adopted ASC 740, *"Income Taxes",* at its inception. Under ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets, including tax loss and credit carry-forwards, and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred income tax expense represents the change during the period in the deferred tax assets and deferred tax liabilities. The components of the deferred tax assets and liabilities are individually classified as current and non-current based on their characteristics. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized.

The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits, and no amounts accrued for interest and penalties as of January 31, 2025. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

<u>Net Loss per Common Share</u>

Net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. Diluted earnings per share takes into effect any dilutive instruments, except when doing so would be anti-dilutive. As of January 31, 2025, there were no dilutive instruments.

<u>Emer</u>g<u>ing Growth Compan</u>y

The Company is an "emerging growth company," as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. As such, the Company is eligible to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not "emerging growth companies" including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in the Company's periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. If some investors find the securities less attractive as a result, there may be a less active trading market for securities and the prices of securities may be more volatile.

In addition, Section 107 of the JOBS Act also provides that an "emerging growth company" can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards (that is, an "emerging growth company" can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies). The Company intends to take advantage of the benefits of this extended transition period.

Additionally, the Company is a "smaller reporting company" as defined in Item 10(f)(1) of Regulation S-K. Smaller reporting companies may take advantage of certain reduced disclosure obligations, including, among other things, providing only two years of audited financial statements. The Company will remain a smaller reporting company until the last day of the fiscal year in which (1) the market value of the ordinary shares held by non-affiliates equals or exceeds $250 million as of the prior September 30, and (2) the annual revenues equaled or exceeded $100 million during such completed fiscal year or the market value of the ordinary shares held by non-affiliates equals or exceeds $700 million as of the prior September 30.

<u>Recent</u>ly <u>Issued Accountin</u>g <u>Pronouncements</u>

Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements.

**Note 3. <u>Capital Stock</u>**

<u>Preferred Stock</u>

As of January 31, 2025, the Company has 10,000,000 shares of preferred stock, par value of $0.0001, authorized and none issued or outstanding.

<u>Common Stock</u>

As of January 31, 2025, the Company has 50,000,000 shares of common stock, par value of $0.0001, authorized and has issued 5,000,000 shares of its $0.0001 par value common stock for $500 to the founders of the Company.

**Note 4. <u>Income Taxes</u>**

As of January 31, 2025, the Company has approximately $90 in gross deferred tax assets resulting from net operating loss carry forwards of $418 available to offset future taxable income through 2041 subject to the change in ownership provisions under IRC 382. A valuation allowance has been recorded to fully offset these deferred tax assets because the Company's management believes future realization of the related tax benefits is uncertain.

The difference between the tax provision at the statutory federal income tax rate on January 31, 2025, and the tax provisions attributable to loss before income taxes is as follows:

---

| | |
|:---|:---|
| Statutory federal income taxes | 21.0% |
| Valuation allowance | (21.0)% |
| Effective income tax rate, net | - |

---

**Note 5. <u>Commitments and Related Par</u>ty <u>Transactions</u>**

<u>Office Space</u>

The Company utilizes the office space and equipment of its management at no cost.

<u>Note Payable - Stockholder</u>

On January 2, 2025, the Company issued a promissory note (the "Note") to a stockholder of the Company pursuant to which the Company agreed to repay the sum of any and all amounts advanced to the Company, on or before the date that the Company consummates a business combination with a private company or reverse takeover transaction or other transaction after which the Company would cease to be a shell company. Interest shall not accrue on the outstanding principal amount of the note except if an Event of Default (as defined in the note) has occurred. In the event of an Event of Default, the entire note shall automatically become due and payable (the "Default Date") and starting from five (5) days after the Default Date, the interest rate on the note shall accrue at the rate of eighteen percent (18%) per annum. As of January 31, 2025, the amount due under the note payable was $10,000.

<u>Advances from stockholders</u>

On January 8<sup>th</sup> Mr. Jacobs paid $100 as an advance from stockholder to open new bank account, and on January 21<sup>st</sup> Mr. Tompkins advanced $5,000 to the company for future expenses. As of January 31, 2025, the total amount of advances from stockholders was $5,100.

<u>Issuance of common stock</u>

The Company issued 5,000,000 shares of its $0.0001 par value common stock to the founders of the Company.

**Note 6. <u>Going Concern</u>**

The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business.

The Company has incurred losses from inception of $418 and has a stockholders' deficit of $393 as of January 31, 2025. Management believes these conditions raise substantial doubt about the Company's ability to continue as a going concern for the twelve months following the date these financial statements are issued. Management intends to finance operations over the next twelve months through additional borrowings from the existing Note.

The accompanying financial statements do not include any adjustments that might be required should the Company be unable to continue as a going concern.

**Note 7. <u>Subsequent Events</u>**

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were issued.

On March 27, 2025 the Company received $475 as payment of the outstanding stock subscription receivable.

 **ORIELLE ACQUISITION CORP.**

CONDENSED BALANCE SHEET

MARCH 31, 2025

(UNAUDITED)

---

| | |
|:---|:---|
| **ASSETS** | |
| **Current assets** | |
| Cash | $15172 |
| Total current assets | 15172 |
| **Total assets** | $**15172** |
| **LIABILITIES AND STOCKHOLDERS' DEFICIT** |  |
| **Current liabilities** |  |
| Accounts payable and accrued expenses | $14288 |
| Note payable - stockholder | 10000 |
| Advances from stockholders | 5100 |
| Total current liabilities | 29388 |
| Total liabilities | **29388** |
| Commitments and contingencies |  |
| **Stockholders' deficit** |  |
| Preferred stock, $0.0001 par value; 10,000,000 shares authorized; none issued and outstanding |  |
| Common stock, $0.0001 par value, 50,000,000 shares authorized, 5,000,000 shares issued and outstanding | 500 |
| Accumulated deficit | (14716) |
| Total stockholders' deficit | (14216) |
| **Total liabilities and stockholders' deficit** | $**15172** |

---

 *See accompanying notes to financial statements.*

 **ORIELLE ACQUISITION CORP.**

CONDENSED STATEMENT OF OPERATIONS

For the period January 2, 2025

(Inception) to March 31, 2025

(UNAUDITED)

---

| | |
|:---|:---|
| Revenue | $- |
| General and administrative expenses | 14716 |
| Loss from operations | (14716) |
| **Net loss** | $**(14716)** |
| Weighted average common stock outstanding, basic and diluted | 5000000 |
| **Net loss per share of common stock, basic and diluted** | $(0.00) |

---

 *See accompanying notes to financial statements.*

**ORIELLE ACQUISITION CORP.**

CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT

For the period January 2, 2025

(Inception) to March 31, 2025

(UNAUDITED)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | |
|  | **Shares** | **Amount** |<br> **Accumulated**<br> **Deficit** | **Total**<br> **Stockholders'**<br> **Deficit** |
| **Balances – January 2, 2025 (inception)** |  | $**-** | $**-** | $**-** |
| Issuance of common stock | 5000000 | 500 |  | 500 |
| Net loss | - | - | (14716) | (14716) |
| **Balances – March 31, 2025** | **5000000** | $**500** | $**(14716)** | $**(14216)** |

---

 *See accompanying notes to financial statements.*

**ORIELLE ACQUISITION CORP.**

CONDENSED STATEMENT OF CASH FLOWS

For the period January 2, 2025

(Inception) to March 31, 2025

(UNAUDITED)

---

| | |
|:---|:---|
| **Cash flows from operating activities:** | |
| Net loss | $(14716) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |
| &nbsp;&nbsp;&nbsp; Accounts payable and accrued expenses | 14288 |
| &nbsp;&nbsp;&nbsp; **Net cash used in operating activities** | (428) |
| **Cash flows from financing activities:** |  |
| Proceeds from stockholder advances | 5100 |
| Proceeds from issuance of common stock | 500 |
| Proceeds from note payable - stockholder | 10000 |
| &nbsp;&nbsp;&nbsp; **Net cash provided by financing activities** | 15600 |
| **Net change in cash** | 15172 |
| Cash - beginning of period | - |
| **Cash - end of period** | $**15172** |

---

 *See accompanying notes to financial statements.*

 **ORIELLE ACQUISITION CORP.**

NOTES TO CONDENSED FINANCIAL STATEMENTS

March 31, 2025

(UNAUDITED)

 **Note 1. <u>Nature of Operations</u>**

Orielle Acquisition Corp.(the "Company") was incorporated in the State of Delaware on January 2, 2025. The Company's management has chosen December 31st for its fiscal year end.

The Company was organized as a vehicle to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly traded corporation. The Company's principal business objective is to achieve long-term growth potential through a combination with a business, rather than immediate short-term earnings. The Company will not restrict its potential target companies to any specific business, industry, or geographical location. The analysis of business opportunities will be undertaken by, or under the supervision of, the officer and directors of the Company.

 **Note 2. <u>Basis of Presentation and Summar</u>y <u>of Significant Accounting Policies</u>**

 <u>Basis of Presentation</u>

The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and in accordance with Article 8 of Regulation S-X of the Securities and Exchange Commission (the "SEC.") Certain information or footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a compete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.

 <u>Use of Estimates</u>

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

 <u>Income Taxes</u>

The Company adopted ASC 740, *"Income Taxes",* at its inception. Under ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets, including tax loss and credit carry-forwards, and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred income tax expense represents the change during the period in the deferred tax assets and deferred tax liabilities. The components of the deferred tax assets and liabilities are individually classified as current and non-current based on their characteristics. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized.

The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits, and no amounts accrued for interest and penalties as of March 31, 2025. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

 <u>Net Loss per Common Share</u>

Net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. Diluted earnings per share takes into effect any dilutive instruments, except when doing so would be anti-dilutive. As of March 31, 2025, there were no dilutive instruments.

 <u>Emer</u>g<u>ing Growth Compan</u>y

The Company is an "emerging growth company," as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. As such, the Company is eligible to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not "emerging growth companies" including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in the Company's periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. If some investors find the securities less attractive as a result, there may be a less active trading market for securities and the prices of securities may be more volatile.

In addition, Section 107 of the JOBS Act also provides that an "emerging growth company" can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards (that is, an "emerging growth company" can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies). The Company intends to take advantage of the benefits of this extended transition period.

Additionally, the Company is a "smaller reporting company" as defined in Item 10(f)(1) of Regulation S-K. Smaller reporting companies may take advantage of certain reduced disclosure obligations, including, among other things, providing only two years of audited financial statements. The Company will remain a smaller reporting company until the last day of the fiscal year in which (1) the market value of the ordinary shares held by non-affiliates equals or exceeds $250 million as of the prior September 30, and (2) the annual revenues equaled or exceeded $100 million during such completed fiscal year or the market value of the ordinary shares held by non-affiliates equals or exceeds $700 million as of the prior September 30.

 <u>Recent</u>ly <u>Issued Accountin</u>g <u>Pronouncements</u>

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"), which will require the Company to disclose specified additional information in its income tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. ASU 2023-09 will also require the Company to disaggregate its income taxes paid disclosure by federal, state and foreign taxes, with further disaggregation required for significant individual jurisdictions. ASU 2023-09 will become effective for Annual periods beginning after December 15, 2024. The Company is still reviewing the impact of ASU 2023-09.

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"), which will require the Company to disclose significant segment expenses and other segment items on both an annual and interim basis, as reviewed by the Chief Operating Decision Maker (CODM). The Company adopted ASU 2023-07 at its inception.

Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements.

 **Note 3. <u>Capital Stock</u>**

 <u>Preferred Stock</u>

As of March 31, 2025, the Company has 10,000,000 shares of preferred stock, par value of $0.0001, authorized and none issued or outstanding.

 <u>Common Stock</u>

As of March 31, 2025, the Company has 50,000,000 shares of common stock, par value of $0.0001, authorized and 5,000,000 shares issued and outstanding.

 **Note 4. <u>Income Taxes</u>**

As of March 31, 2025, the Company has approximately $3,100 in gross deferred tax assets resulting from net operating loss carry- forwards of $14,700 available to offset future taxable income through 2041 subject to the change in ownership provisions under IRC 382. A valuation allowance has been recorded to fully offset these deferred tax assets because the Company's management believes future realization of the related tax benefits is uncertain.

The difference between the tax provision at the statutory federal income tax rate on March 31, 2025, and the tax provisions attributable to loss before income taxes is as follows:

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| | |
|:---|:---|
|  | **March 31, <br> 2025** |
| Statutory federal income taxes | 21.0% |
| Valuation allowance | (21.0)% |
| Effective income tax rate, net | - % |

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 **Note 5. <u>Commitments and Related Par</u>ty <u>Transactions</u>**

 <u>Office Space</u>

The Company utilizes the office space and equipment of its management at no cost.

 <u>Note Payable - Stockholder</u>

On January 2, 2025, the Company issued a promissory note (the "Note") to a stockholder of the Company pursuant to which the Company agreed to repay the sum of any and all amounts advanced to the Company, on or before the date that the Company consummates a business combination with a private company or reverse takeover transaction or other transaction after which the Company would cease to be a shell company. Interest shall not accrue on the outstanding principal amount of the note except if an Event of Default (as defined in the note) has occurred. In the event of an Event of Default, the entire note shall automatically become due and payable (the "Default Date") and starting from five (5) days after the Default Date, the interest rate on the note shall accrue at the rate of eighteen percent (18%) per annum. As of March 31, 2025, the amount due under the note payable was $10,000.

 <u>Advances from stockholders</u>

On January 8<sup>th</sup> Mr. Jacobs paid $100 as an advance from stockholder to open new bank account, and on January 21<sup>st</sup> Mr. Tompkins advanced $5,000 to the company for future expenses. As of March 31, 2025, the total amount of advances from stockholders was $5,100.

 <u>Issuance of common stock</u>

The Company issued 5,000,000 shares of its $0.0001 par value common stock to the founders of the Company.

 **Note 6. <u>Going Concern</u>**

The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business.

The Company has incurred losses from inception of $14,716 and has a stockholders' deficit of $14,216 as of March 31, 2025. Management believes these conditions raise substantial doubt about the Company's ability to continue as a going concern for the twelve months following the date these financial statements are issued. Management intends to finance operations over the next twelve months through additional borrowings from the existing Note.

The accompanying financial statements do not include any adjustments that might be required should the Company be unable to continue as a going concern.

 **Note 7. <u>Subsequent Events</u>**

The Company evaluated subsequent events through June 24, 2025, the date the financial statements were issued, and concluded that there were no events or transactions occurring during this period that require disclosure.