Exhibit 99.2

InfiniClone Limited

Unaudited Condensed Financial Statements

INFINICLONE LIMITED

UNAUDITED CONDENSED BALANCE SHEETS

(Expressed in US Dollars)

The accompanying notes are an integral part of these financial statements.

INFINICLONE LIMITED

UNAUDITED CONDENSED BALANCE SHEETS

(Continued)

(Expressed in US Dollars)

The accompanying notes are an integral part of these financial statements.

INFINICLONE LIMITED

STATEMENTS OF LOSS AND COMPREHENSIVE LOSS

(Expressed in US Dollars)

INFINICLONE LIMITED

STATEMENTS OF LOSS AND COMPREHENSIVE LOSS

(Continued)

(Expressed in US Dollars)

The accompanying notes are an integral part of these financial statements.

INFINICLONE LIMITED

STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(Expressed in US Dollars)

The accompanying notes are an integral part of these financial statements.

INFINICLONE LIMITED

STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(Continued)

(Expressed in US Dollars)

The accompanying notes are an integral part of these financial statements.

INFINICLONE LIMITED

STATEMENTS OF CASH FLOWS

(Expressed in US Dollars)

The accompanying notes are an integral part of these financial statements.

INFINICLONE LIMITED

STATEMENTS OF CASH FLOWS

(Continued)

(Expressed in US Dollars)

The accompanying notes are an integral part of these financial statements.

INFINICLONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(Expressed in US Dollars)

1. DESCRIPTION OF BUSINESS AND ORGANIZATION

InfiniClone Limited (“the Company”), an exempted company with limited liability, is a holding company incorporated in Hong Kong, which is 100% controlled by Lim Kah Meng. On March 13, 2025, Lim Kah Meng transferred 100% held equity interest of Infiniclone Pte. Ltd. to the Company, which was common control transaction before and after the transferal. The principal activities of the Company are those of research and experimental development and commercialisation on induced pluripotent stem cell (iPSC) technology, which mainly includes iPSC banking, cosmeceutical applications, disease modeling, regenerative medicine, drug discovery and next-generation stem cell therapy.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of Presentation

The accompanying unaudited condensed financial statements of the Company has been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted as permitted by rules and regulations of the United States Securities and Exchange Commission. The balance sheet as of March 31, 2025 and June 30, 2024 was derived from the audited financial statements of the Company. The accompanying unaudited condensed financial statements should be read in conjunction with the balance sheet of the Company as of June 30, 2024 and 2023, and the related statements of loss and comprehensive loss, changes in shareholders’ deficit and cash flows for the years then ended.

In the opinion of the management, all adjustments (which include normal recurring adjustments) necessary to present a fair statement of the financial position as of March 31, 2025 and June 30, 2024, the results of operations and cash flows for the nine months ended March 31, 2025 and 2024, have been made.

These unaudited condensed financial statements have been prepared in accordance with U.S. GAAP assuming the Company will continue as a going concern. The going concern assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business.

The unaudited condensed financial statements do not include any adjustments to the carrying amounts and classification of assets, liabilities, and reported expenses that may be necessary if the Company were unable to continue as a going concern.

INFINICLONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(Expressed in US Dollars)

(b) Use of Estimates

The preparation of the financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, related disclosures of contingent assets and liabilities at the balance sheet date, and the reported revenues and expenses during the reported period in the financial statements and accompanying notes. Significant items subject to estimates and assumptions include, but not limited to, lower of cost and net realizable value of inventories, useful lives and recoverability of property and equipment, recoverability of intangible assets with indefinite useful lives, realization of deferred tax assets. Actual results could differ from those estimates, and as such, differences may be material to the financial statements.

(c) Cash

Cash consists of cash on hand and cash at bank. The Company does not have any cash equivalents as of March 31, 2025 and June 30, 2024.

Cash on hand and cash at bank deposited in financial institutions at various locations are as follows:

(d) Revenue recognition

Revenue is recognized when or as the control of the goods or services is transferred to customers. Control of the goods and services may be transferred over time or at a point in time. Control of the goods and services is transferred over time if the Company’s performance:

If control of the goods and services transfers over time, revenue is recognized over the period of the contract by reference to the progress towards complete satisfaction of that performance obligation. Otherwise, revenue is recognized at a point in time when the customer obtains control of the goods and services.

Contracts with customers may include multiple performance obligations. For such arrangements, the Company allocates overall contract price to each distinct performance obligation based on its relative standalone selling price. The Company generally determines standalone selling prices for each individual distinct performance obligation identified based on the observable prices charged to customers. If the standalone selling price is not directly observable, it is estimated using expected cost plus a margin, depending on the availability of observable information, the data utilized, and considering the Company’s pricing policies and practices in making pricing decisions. Assumptions and estimations have been made in estimating the relative selling price of each distinct performance obligation, and changes in judgements on these assumptions and estimates may affect revenue recognition.

INFINICLONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(Expressed in US Dollars)

When either party to a contract has performed, the Company presents the contract on the unaudited condensed balance sheets as a contract asset, a receivable or a contract liability.

A contract asset is recorded when the Company transfers a good or service to the customer before being unconditionally entitled to the consideration under the payment terms set out in the contract. A receivable is recorded when the Company has an unconditional right to consideration. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due.

If a customer pays consideration or the Company has a right to an amount of consideration that is unconditional, before the Company transfers a good or service to the customer, the Company presents a contract liability when the payment is received or receivable. A contract liability is the Company’s obligation to transfer goods or services to a customer for which the Company has received consideration (or an amount of consideration is due) from the customer.

(e) Concentration of credit Risk

Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash and other receivables included in due from related parties.

Substantial all of the Company’s cash at bank is held by third-party financial institutions located in Singapore. The bank deposits with financial institutions in Singapore are insured by the government authority for up to SGD 75,000. The Company has not experienced any losses in uninsured bank deposits and does not believe that it is exposed to any significant risks on cash held in bank accounts. To limit exposure to credit risk, the Company primarily places bank deposits with large financial institutions in Singapore with acceptable credit rating.

Other receivables are primarily derived from related parties, which are unsecured. The risk is mitigated by credit evaluations performed on them. Historically, credit losses on other receivables have been insignificant.

3. INVENTORIES, NET

The inventories, net consisted of the following:

(i) On December 1, 2023, the Company entered into a materials transfer agreement with a related party. Pursuant to the agreement, SGD 662,150 (equivalent to US$ 502,695) of R&D materials transferred into the Company. The consideration was paid-up through the shares of the Company. The transfer was effective on December 1, 2023 and was recorded as inventories and additional paid-in capital in the financial statement of the Company.

INFINICLONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(Expressed in US Dollars)

4. PROPERTYAND EQUIPMENT, NET

Property and equipment, net, consisted of the following:

(i) On November 15, 2023, the Company entered into a land ownership transfer agreement with its related parties and third parties. Pursuant to the agreement, 8 properties transferred into the Company for the operation use, the consideration was paid-up through the shares of the Company, the fair value is SGD31 million (equivalent to US$ 23,595,506). The transfer was effective on December 1, 2023 and was recorded as property and equipment and additional paid-in capital in the financial statement of the Company. The ownership of all the properties is freehold.

5. SHARE CAPITAL

Upon incorporation on August 23, 2021, the total amount of share capital subscribed by the Company was SGD500 (equivalent to US$380) and the total number of ordinary shares issued was 500.

6. INCOME TAX

The statutory income tax rate for the Company is 17% for the Nine months ended March 31, 2025 and 2024. The effective income tax rate for the Nine months ended March 31, 2025 and 2024 was nil and nil, respectively. The effective income tax rate for the Nine months ended March 31, 2025 and 2024 differs from the statutory income tax rate of 17%, primarily due to the recognition of valuation allowance for deferred income tax assets of loss-making of the Company.

INFINICLONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(Expressed in US Dollars)

7. COMMITMENTS AND CONTINGENCIES

As of March 31, 2025 and June 30, 2024, there was no commitments and contingencies incurred.

8. RELATED PARTY TRANSACTIONS

(a) Related parties

(b) Significant related party transactions

During the Nine months ended March 31, 2025 and 2024, the Company entered into the following significant related party transactions:

INFINICLONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(Expressed in US Dollars)

(c) Significant related party balances

The outstanding balances mainly arising from the above transactions as of March 31, 2025 and June 30, 2024 are as follows:

Note:

9. SUBSEQUENT EVENTS

Management has considered subsequent events through the reporting day, which was the date the financial statements were issued. No subsequent events required adjustments to or disclosure in these financial statements.