EGHARLOW SIGNALOPERATIONAL10-Q

EGHAR updated its quarterly reporting period from June 30 to September 30, 2025, while continuing its search for a business combination target as a SPAC.

This appears to be a routine quarterly filing update for a special purpose acquisition company (SPAC) that remains in its target identification phase. The language changes primarily reflect the updated reporting period and provide slightly more detailed descriptions of the private placement structure with underwriters. No material developments in the business combination process are evident.

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

The company's financial position remains consistent with typical SPAC operations during the target search phase. Net income grew substantially, likely reflecting interest income from trust account investments, while current assets declined modestly. The overall financial picture suggests normal SPAC operations with funds held in trust earning returns while management continues evaluating potential acquisition targets.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
+68.1%
$808K→$1.4M

Net income grew 68.1% — bottom-line growth signals improving overall business health.

Current Assets
Balance Sheet
-14.1%
$1.3M→$1.1M

Current assets declined 14.1% — monitor working capital adequacy and short-term liquidity.

LANGUAGE CHANGES
NEW — 2025-11-12
PRIOR — 2025-08-08
ADDED
As of September 30, 2025, the Company had not yet selected any specific Business Combination target with respect to an initial Business Combination with the Company.
As of September 30, 2025, the Company had not commenced any operations.
All activity for the period from January 9, 2025 (inception) through September 30, 2025, relates to the Company s formation, its Initial Public Offering (as defined below), and subsequent to the Initial Public Offering, identifying and evaluating prospective acquisition candidates and activities in connection with the Business Combination.
Financial Group, LLC ( CCM ), a representative of the several underwriters of the Initial Public Offering (the Underwriters ) and Seaport Global Securities LLC ( Seaport , and together with CCM, the Representatives ), a representative of the Underwriters, at a price of $ 10.00 per Private Placement Unit, or $ 5,000,000 in the aggregate (the Private Placement ), as discussed in Note 4.
Of the 500,000 Private Placement Units, the Sponsor purchased 350,000 Private Placement Units and the Representatives purchased 150,000 Private Placement Units.
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REMOVED
1 Unaudited Condensed Balance Sheet as of June 30, 2025 1 Unaudited Condensed Statements of Operations for the Three and Six Months Ended June 30, 2025 and the Period from January 9, 2025 (Inception) Through June 30, 2025 2 Unaudited Condensed Statements of Changes in Shareholders Deficit for the Three Months Ended June 30, 2025 and the Period from January 9, 2025 (Inception) Through June 30, 2025 3 Unaudited Condensed Statement of Cash Flows for the Period from January 9, 2025 (Inception) Through June 30, 2025 4 Notes to Unaudited Condensed Financial Statements 5 Item 2.
The Company has not yet selected any specific Business Combination target with respect to an initial Business Combination with the Company.
As of June 30, 2025, the Company had not commenced any operations.
All activity for the period from January 9, 2025 (inception) through June 30, 2025, relates to the Company s formation, its Initial Public Offering (as defined below), and subsequent to the Initial Public Offering, identifying a target company for a Business Combination.
Financial Group, LLC, a representative of the underwriters ( CCM ) and Seaport Global Securities LLC ( Seaport ), a representative of the underwriters, at a price of $ 10.00 per Private Placement Unit, or $ 5,000,000 in the aggregate (the Private Placement ), as discussed in Note 4.
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