CRAQRMEDIUM SIGNALFINANCIAL10-Q

CRAQR continues to operate as a pre-revenue SPAC with declining cash reserves and no operational activity as of September 30, 2025.

The company remains in its pre-operational phase nearly three months after the previous quarter, suggesting potential delays in identifying or consummating a business combination target. The steady cash burn without revenue generation is typical for SPACs but indicates the company is consuming resources while pursuing acquisition opportunities.

Comparing 2025-11-13 vs 2025-08-14View on EDGAR →
FINANCIAL ANALYSIS

CRAQR's financial position shows a modest deterioration with cash declining from $1.4M to $1.2M over the quarter, representing a 17% decrease. Current liabilities increased modestly by 14% to $134K while current assets declined proportionally with the cash reduction. The overall picture reflects a pre-revenue entity steadily consuming cash reserves in the normal course of SPAC operations while maintaining adequate working capital of approximately $1.1M.

FINANCIAL STATEMENT CHANGES
Cash & Equivalents
Balance Sheet
-17.1%
$1.4M→$1.2M

Cash decreased 17.1% — monitor burn rate and upcoming capital needs.

Current Liabilities
Balance Sheet
+13.9%
$117K→$134K

Current liabilities rose 13.9% — increased short-term obligations, watch current ratio.

Current Assets
Balance Sheet
-11.4%
$1.4M→$1.3M

Current assets declined 11.4% — monitor working capital adequacy and short-term liquidity.

LANGUAGE CHANGES
NEW — 2025-11-13
PRIOR — 2025-08-14
ADDED
As of September 30, 2025, the Company had not commenced any operations.
As of September 30, 2025, the Company had cash of $ 1,154,388 and a working capital surplus of $ 1,144,846 .
The Company had $ 1,154,388 in cash and no cash equivalents as of September 30, 2025.
The transfer of the founder shares to the independent director nominees are in the scope of ASC 718.
Due to affiliates From time to time, officers and directors of the Company may pay expenses on behalf of the Company.
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REMOVED
As of June 30, 2025, the Company had not commenced any operations.
As of June 30, 2025 (unaudited), the Company had cash of $ 1,392,179 and a working capital surplus of $ 1,325,229 .
The Company had $ 1,392,179 in cash and no cash equivalents as of June 30, 2025.
The transfer of the founder shares to the independent director nominees are in the scope of FASB ASC Topic 718, Compensation-Stock Compensation ( ASC 718 ).
As of June 30, 2025, no such Working Capital Loans were outstanding.
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