AXINRLOW SIGNALFINANCIAL10-Q

AXINR, a recently public SPAC, shows routine quarterly progression with modest increases in operating expenses and slight trust account appreciation while maintaining its pre-deal acquisition status.

The filing reflects normal SPAC operations in the months following its June 2025 IPO, with the company continuing to search for acquisition targets while incurring standard operating costs. The trust account value has grown slightly from $10.00 to $10.11 per share, indicating modest investment returns on the escrowed funds.

Comparing 2025-11-13 vs 2025-08-12View on EDGAR →
FINANCIAL ANALYSIS

The quarter shows typical SPAC expense patterns with current liabilities nearly doubling to $198K and operating losses expanding modestly as the company incurs legal, administrative, and search costs. Current assets declined to $717K while net income remained positive at $1.5M, primarily driven by trust account investment gains. Overall, the financial picture reflects a standard pre-acquisition SPAC burning cash on operations while generating returns on its trust account investments.

FINANCIAL STATEMENT CHANGES
Current Liabilities
Balance Sheet
+89.3%
$105K$198K

Current liabilities surged 89.3% — significant near-term obligations; verify ability to meet short-term debt.

Operating Income
P&L
-48.3%
-$185K-$275K

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Net Income
P&L
-19.9%
$1.9M$1.5M

Net income declined 19.9% — review whether driven by operations, interest costs, or non-recurring items.

Current Assets
Balance Sheet
-17.8%
$872K$717K

Current assets declined 17.8% — monitor working capital adequacy and short-term liquidity.

LANGUAGE CHANGES
NEW — 2025-11-13
PRIOR — 2025-08-12
ADDED
4 AXIOM INTELLIGENCE ACQUISITION CORP 1 NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS SEPTEMBER 30, 2025 NOTE 1.
As of September 30, 2025, the Company had not entered into a definitive agreement with any specific Business Combination target.
As of September 30, 2025, the Company had not commenced any operations.
5 AXIOM INTELLIGENCE ACQUISITION CORP 1 NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS SEPTEMBER 30, 2025 Following the closing of the Initial Public Offering, on June 20, 2025, an amount of $ 200,000,000 ($ 10.00 per Unit) from the net proceeds of the Initial Public Offering and the Private Placement was placed in a trust account (the Trust Account ), with Continental Stock Transfer Trust Company ( Continental ), acting as trustee.
The Company will provide the Public Shareholders (excluding the Sponsor, officers and directors to the extent they acquire Public Shares) with the opportunity to redeem all or a portion of their Public Shares upon the completion of the initial Business Combination either (i) in connection with a general meeting called to approve the initial Business Combination or (ii) without a shareholder vote by means of a tender offer.
The amount in the Trust Account was $ 10.11 per Public Share as of September 30, 2025.
Risks and Uncertainties The Company s ability to complete an initial Business Combination may be adversely affected by various factors, many of which are beyond the Company s control.
As of September 30, 2025, the Company had cash of $ 897,918 and had working capital of $ 948,419 .
Due to the timing of funds and the bank account opening process, these funds were not deposited into the Company s bank account at such time and remained in the Sponsor s bank account until August 3, 2025.
7 AXIOM INTELLIGENCE ACQUISITION CORP 1 NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS SEPTEMBER 30, 2025 In order to fund working capital deficiencies or finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company s officers and directors may, but are not obligated to, loan the Company funds as may be required ( Working Capital Loans ).
REMOVED
4 AXIOM INTELLIGENCE ACQUISITION CORP 1 NOTES TO CONDENSED FINANCIAL STATEMENTS JUNE 30, 2025 (UNAUDITED) NOTE 1.
As of June 30, 2025, the Company had not selected any specific Business Combination target.
As of June 30, 2025, the Company had not commenced any operations.
Following the closing of the Initial Public Offering, on June 20, 2025, an amount of $ 200,000,000 ($ 10.00 per Unit) from the net proceeds of the Initial Public Offering and the Private Placement was placed in a trust account (the Trust Account ), with Continental Stock Transfer Trust Company ( Continental ), acting as trustee.
5 AXIOM INTELLIGENCE ACQUISITION CORP 1 NOTES TO CONDENSED FINANCIAL STATEMENTS JUNE 30, 2025 (UNAUDITED) The Company will provide the Public Shareholders (excluding the Sponsor, officers and directors to the extent they acquire Public Shares) with the opportunity to redeem all or a portion of their Public Shares upon the completion of the initial Business Combination either (i) in connection with a general meeting called to approve the initial Business Combination or (ii) without a shareholder vote by means of a tender offer.
The amount in the Trust Account was $ 10.00 per Public Share as of June 30, 2025.
6 AXIOM INTELLIGENCE ACQUISITION CORP 1 NOTES TO CONDENSED FINANCIAL STATEMENTS JUNE 30, 2025 (UNAUDITED) Risks and Uncertainties The Company s ability to complete an initial Business Combination may be adversely affected by various factors, many of which are beyond the Company s control.
As of June 30, 2025, the Company had no cash and had a working capital deficit of $ 892,615 .
Due to the timing of funds and the bank account opening process, these funds were not deposited into the Company s bank account at such time and remained in the Sponsor s bank account as of June 30, 2025.
In order to fund working capital deficiencies or finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company s officers and directors may, but are not obligated to, loan the Company funds as may be required ( Working Capital Loans ).
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