RELATED PARTY TRANSACTIONS |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| RELATED PARTY TRANSACTIONS | |
| RELATED PARTY TRANSACTIONS | NOTE 5 – RELATED PARTY TRANSACTIONS
Jonathan Cross is the Company’s founder, sole director and Chairman and Chief Executive Officer (the “Founder”). Since inception, the Founder has paid, from his personal funds, all expenses incurred by the Company, including state and local filing fees, bank charges, audit fees, EDGAR filing and conversion fees, and transfer agent fees, without any obligation of repayment.
For the six months ended June 30, 2026, the Founder paid professional fees and other operating expenses on behalf of the Company totaling $11,664, consisting primarily of audit fees, SEC/EDGAR filing fees and transfer agent fees. These payments have been recorded by the Company as capital contributions and credited to additional paid‑in capital in the accompanying financial statements. No amounts are recorded as due to the Founder, and there were no related‑party payables outstanding as of June 30, 2026.
The Founder has also made his office space, utilities and certain administrative support available to the Company at no cost. Management believes that the fair value of such contributed office space and services for the periods presented is immaterial and, accordingly, no expense or capital contribution has been recognized in the accompanying financial statements for these items.
The Founder has committed to continue funding the Company’s operating expenses, without expectation of repayment, until the Company completes a business combination. There can be no assurance that the Founder will have sufficient financial resources or will continue to fund such expenses in the future, which could adversely affect the Company’s ability to continue as a going concern (see Note 3). |