ORIQMEDIUM SIGNALFINANCIAL10-Q

ORIQ completed its IPO process with full exercise of underwriters' over-allotment option, raising additional capital while reducing current liabilities by more than half.

The company successfully closed its public offering with underwriters exercising their full over-allotment option for 900,000 additional units at $10.00 per unit, generating $9 million in additional gross proceeds plus $180,000 from sponsor private placement units. However, the company remains pre-operational as of September 30, 2025, indicating it is still in the capital formation phase seeking acquisition targets.

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

The balance sheet shows meaningful improvement with current liabilities declining substantially from $519K to $231K, likely reflecting the resolution of IPO-related payables following the successful completion of the public offering. The liability reduction combined with the additional capital raised through the over-allotment exercise positions the company with a stronger financial foundation as it continues searching for business combination opportunities. Overall, the financial picture reflects a cleaner balance sheet post-IPO completion, though the company remains in its pre-revenue formation stage.

FINANCIAL STATEMENT CHANGES
Total Liabilities
Balance Sheet
-55.5%
$519K→$231K

Liabilities reduced 55.5% — deleveraging improves balance sheet strength and financial flexibility.

Current Liabilities
Balance Sheet
-55.5%
$519K→$231K

Current liabilities reduced — improved short-term financial position and working capital health.

LANGUAGE CHANGES
NEW — 2025-11-14
PRIOR — 2025-08-14
ADDED
On July 18, 2025, the Underwriters over-allotment option was exercised in full, and the 225,000 ordinary shares were no longer subject to forfeiture.
On July 18, 2025, the Underwriters over-allotment option was exercised in full, and the 225,000 ordinary shares were no longer subject to forfeiture.
On July 18, 2025, the Underwriters over-allotment option was exercised in full, and the 225,000 ordinary shares were no longer subject to forfeiture.
As of September, 30, 2025, the Company had not commenced any operations.
On July 18, 2025, the underwriters fully exercised their over-allotment option to purchase an additional 900,000 units at a purchase price of $ 10.00 per unit, generating additional gross proceeds of $ 9,000,000 .
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REMOVED
Financial Statements Condensed Balance Sheets as of June 30, 2025 (Unaudited) and December 31, 2024 F-1 Condensed Statements of Operations for the three and six months ended June 30, 2025 (Unaudited) F-2 Condensed Statements of Changes in Shareholders Equity (Deficit) for the three and six months ended June 30, 2025 (Unaudited) F- 3 Condensed Statement of Cash Flows for the six months ended June 30, 2025 (Unaudited) F-4 Notes to condensed financial statements (Unaudited) F- 5 Item 2.
On July 18, 2025, the underwriter s over-allotment option was exercised in full in conjunction with the Initial Public Offering, and the 225,000 ordinary Shares were no longer subject to forfeiture.
F- 1 ORIGIN INVESTMENT CORP I CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) For the three months ended June 30, 2025 For the six months ended June 30, 2025 EXPENSES General and administrative expenses $ 115,827 $ 120,420 Total expenses 115,827 120,420 NET LOSS ( 115,827 ) ( 120,420 ) WEIGHTED AVERAGE SHARES OUTSTANDING, BASIC AND DILUTED (1) 1,500,000 1,500,000 BASIC AND DILUTED NET LOSS PER SHARE $ ( 0.08 ) $ ( 0.08 ) (1) Excludes up to 225,000 ordinary shares that were subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriter (see Note 5).
On July 18, 2025, the underwriter s over-allotment option was exercised in full in conjunction with the Initial Public Offering, and the 225,000 ordinary Shares were no longer subject to forfeiture.
On July 18, 2025, the underwriter s over-allotment option was exercised in full in conjunction with the Initial Public Offering, and the 225,000 ordinary Shares were no longer subject to forfeiture.
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