v3.25.1

Balance Sheets - USD ($)	Mar. 31, 2025	Sep. 30, 2024
Current assets
Cash	$ 627,375	$ 822,799
Prepaid expenses	67,830	36,216
Short-term prepaid insurance	169,750	339,500
Total current assets	864,955	1,198,515
Cash and investments held in Trust Account	120,299,544	118,601,873
Total Assets	121,164,499	119,800,388
Current liabilities
Accounts payable and accrued expenses	90,296	86,718
Income taxes payable	262,063	635,512
Due to Sponsor	2,788
Total current liabilities	355,147	722,230
Total Liabilities	355,147	722,230
Commitments and Contingencies (Note 6)
Common stock subject to possible redemption, 11,500,000 shares at redemption value of $10.44 and $10.26 per share as of March 31, 2025 and September 30, 2024, respectively	120,037,481	117,966,361
Stockholders’ Equity
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, no shares issued and outstanding as of March 31, 2025 and September 30, 2024
Common stock, $0.0001 par value, 100,000,000 shares authorized, 4,249,090 shares issued and outstanding as of March 31, 2025 and September 30, 2024	425	425
Additional paid-in capital
Retained earnings	771,446	1,111,372
Total Stockholders’ Equity	771,871	1,111,797
Total Liabilities and Stockholders’ Equity	$ 121,164,499	$ 119,800,388

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

IB Acquisition Corp. 10-Q