Aquaron Acquisition Corp. Files Q2 2024 10-Q
Ticker: AQUNU · Form: 10-Q · Filed: Sep 12, 2024 · CIK: 1861063
Sentiment: neutral
Topics: 10-Q, SPAC, quarterly-report, real-estate
TL;DR
Aquaron Acquisition Corp. filed its Q2 10-Q. Blank check company focused on real estate/construction.
AI Summary
Aquaron Acquisition Corp. filed its quarterly report on Form 10-Q for the period ended June 30, 2024. The company, incorporated in Delaware, is a blank check company focused on real estate and construction. Its principal executive offices are located at 515 Madison Avenue, New York, NY.
Why It Matters
This filing provides investors with an update on Aquaron Acquisition Corp.'s financial performance and operational status for the second quarter of 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly filing for a SPAC, providing standard financial and operational updates.
Key Numbers
- 001-41470 — SEC File Number (Identifies the company's filing with the SEC.)
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
Key Players & Entities
- Aquaron Acquisition Corp. (company) — Registrant
- June 30, 2024 (date) — Quarterly period end date
- 515 Madison Avenue, New York, NY 10022 (location) — Principal executive offices
- 6770 (number) — Standard Industrial Classification for Blank Checks
FAQ
What is the primary business focus of Aquaron Acquisition Corp.?
Aquaron Acquisition Corp. is a blank check company with a Standard Industrial Classification code of 6770, indicating a focus on 'Blank Checks', and its organization name suggests a focus on 'Real Estate & Construction'.
When is the period covered by this 10-Q filing?
This 10-Q filing covers the quarterly period ended June 30, 2024.
Where are Aquaron Acquisition Corp.'s principal executive offices located?
The principal executive offices of Aquaron Acquisition Corp. are located at 515 Madison Avenue, 8th Floor, New York, NY 10022.
What is the SEC file number for Aquaron Acquisition Corp.?
The SEC file number for Aquaron Acquisition Corp. is 001-41470.
What is the company's state of incorporation?
Aquaron Acquisition Corp. is incorporated in Delaware.
Filing Stats: 4,769 words · 19 min read · ~16 pages · Grade level 17.5 · Accepted 2024-09-12 16:43:27
Key Financial Figures
- $0.0001 — ock Market LLC Common Stock, par value $0.0001 AQU The Nasdaq Stock Market LLC Rights
Filing Documents
- ea0213483-10q_aquaron.htm (10-Q) — 497KB
- ea021348301ex31-1_aquaron.htm (EX-31.1) — 14KB
- ea021348301ex31-2_aquaron.htm (EX-31.2) — 14KB
- ea021348301ex32-1_aquaron.htm (EX-32.1) — 4KB
- ea021348301ex32-2_aquaron.htm (EX-32.2) — 4KB
- 0001213900-24-078180.txt ( ) — 3961KB
- aqu-20240630.xsd (EX-101.SCH) — 43KB
- aqu-20240630_cal.xml (EX-101.CAL) — 28KB
- aqu-20240630_def.xml (EX-101.DEF) — 204KB
- aqu-20240630_lab.xml (EX-101.LAB) — 327KB
- aqu-20240630_pre.xml (EX-101.PRE) — 200KB
- ea0213483-10q_aquaron_htm.xml (XML) — 409KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 1 Item 1. Condensed Financial Statements (Unaudited) 1 Unaudited Condensed Balance Sheets 1 Unaudited Condensed Statements of Operations 2 Unaudited Condensed Statements of Changes in Stockholders' Equity (Deficit) 3 Unaudited Condensed Statement of Cash Flows 4 Notes to Unaudited Condensed Financial Statements 5 Item 2.
Management's Discussion and Analysis of Financial Statements
Management's Discussion and Analysis of Financial Statements 20 Item 3. Quantitative and Qualitative Disclosure about Market Risks 26 Item 4.
Controls and Procedures
Controls and Procedures 26
OTHER INFORMATION
PART II. OTHER INFORMATION 27 Item 1.
Legal Proceedings
Legal Proceedings 27 Item 1A.
Risk Factors
Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3. Defaults Upon Senior Securities 28 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 28
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Condensed Financial Statements (Unaudited)
Item 1. Condensed Financial Statements (Unaudited) AQUARON ACQUISITION CORP. UNAUDITED CONDENSED BALANCE SHEETS June 30, 2024 (Unaudited) December 31, 2023 (Audited) Assets Current Assets Cash $ 211,470 $ 339 Prepaid income tax 65,528 — Prepaid expenses 40,500 2,188 Total Current Assets 317,498 2,527 Noncurrent Assets Deferred income tax asset — 144,680 Investments held in Trust Account 8,913,411 31,960,267 Total Noncurrent Assets 8,913,411 32,104,947 Total Assets $ 9,230,909 $ 32,107,474 Liabilities, Redeemable Common Stock and Stockholders' Deficit Current Liabilities Other payable – related party $ 89,958 $ 97,052 Accounts payable and accrued expenses 156,276 149,045 Franchise tax payable 16,500 18,495 Income tax payable — 353,013 Excise tax payable 491,207 259,438 Promissory note – related party 800,626 549,626 Promissory note – Bestpath 740,000 490,000 Total Current Liabilities 2,294,567 1,916,669 Deferred underwriting fee payable 2,525,896 2,525,896 Total Liabilities 4,820,463 4,442,565 Commitments and Contingencies (Note 6) Common stock subject to possible redemption, $ 0.0001 par value; 10,000,000 shares authorized; 805,352 shares and 2,930,090 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 8,913,411 31,960,268 Stockholders' Deficit Common stock, $ 0.0001 par value; 10,000,000 shares authorized; 1,623,060 shares issued and outstanding (excluding 805,352 shares and 2,930,090 shares subject to possible redemption at June 30, 2024 and December 31, 2023, respectively) 163 163 Additional paid-in capital — — Accumulated deficit ( 4,503,128 ) ( 4,295,522 ) Total Stockholders' Deficit ( 4,502,965 ) ( 4,295,359 ) Total Liabilities, Redeemable Common Stock and Stockholders' Deficit $ 9,230,909 $ 32,107,474 The accompanying notes are an integral part of these unaudited condensed financial statements. 1 AQUARON A