GOING CONCERN |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| GOING CONCERN | |
| GOING CONCERN | NOTE 2 — GOING CONCERN The Company’s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities during the normal course of operations. As of March 31, 2026, the Company had cash of $1 and a working capital deficit of $72,431. The Company incurred a net loss of $5,200 for the three months ended March 31, 2026 and had an accumulated deficit of $72,531 as of March 31, 2026. The Company’s operating results for future periods are subject to numerous uncertainties and it is uncertain if the Company will be able to reduce or eliminate its net losses for the foreseeable future. The Company expects to continue to incur costs in pursuit of the proposed Business Combination and as a result of operating as a public-company structure. Accordingly, the Company may not be able to obtain additional financing. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of one year from the date these financial statements are issued. Management plans to address this uncertainty through continued financial support from IWAC and related parties and the consummation of the Business Combination as discussed in Note 1. There is no assurance that management’s plans will be successful. The financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result should the Company be unable to continue as a going concern. |