ADDED
Certain disclosures and statements contained in this Annual Report on Form 10-K are based on the possibility that the KM QUAD Business Combination (as defined below) is not consummated.
Junan Ke, as representative of the Principal Shareholders of QUAD.
The Agreement provides that, among other things and upon the terms and subject to the satisfaction of certain customary conditions, the merger shall be consummated (the KM QUAD Business Combination ), and in accordance with the terms and conditions as further specified under the section entitled Initial Business Combination below.
BUSINESS In this Annual Report on Form 10-K (the Form 10-K ), references to the Company, Quetta, QETA, and to we, us, and our refer to Quetta Acquisition Corporation.
Introduction We are a blank check company formed under the laws of the State of Delaware on May 1, 2023 for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities, which we refer to throughout this report as our initial business combination.
Our efforts to identify a prospective target business will not be limited, although the company intends to prioritize the evaluation of businesses in Asia.
In the event the KM QUAD Business Combination is not consummated, we will continue to identify a prospective target business.
Our efforts to identify a prospective target business will not be limited to a particular geographic region or industry, although the Company intends to focus on operating businesses in Asia.
He serves as one of our directors as of the date of this report.
Qi Gong has been serving as one of our independent directors since April 3, 2024.
REMOVED
BUSINESS In this Annual Report on Form 10-K (the Form 10-K ), references to the Company, Quetta and to we, us, and our refer to Quetta Acquisition Corporation Introduction We are a blank check company formed under the laws of the State of Delaware on May 1, 2023 for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities, which we refer to throughout this prospectus as our initial business combination.
Our efforts to identify a prospective target business will not be limited, although the company intends to prioritize the evaluation of businesses in Asia (excluding China, Hong Kong, and Macau) that operate in the financial technology sector.
We shall not undertake our initial business combination with any entity with its principal business operations in China (including Hong Kong and Macau).
We do not have any specific business combination under consideration and we have not (nor has anyone on our behalf), directly or indirectly, contacted any prospective target business or had any substantive discussions, formal or otherwise, with respect to such a transaction with our company.
Our efforts to identify a prospective target business will not be limited to a particular geographic region or industry, although the Company intends to focus on operating businesses in Asia (excluding China, Hong Kong, and Macau), and we prefer an initial business combination with a digital asset exchange, such as a bitcoin marketplace.
The future development and growth of digital assets such as crypto is subject to a variety of factors that are difficult to predict and evaluate.
In fact, crypt asset markets in general are distressed due to recent bankruptcies and financial failure of FTX Trading Ltd.
( FTX ), which may limit our ability to identify perspective target for business combination, affect the attractiveness of prospective target business, or, following consummation of our initial business combination, our financial condition and results of operations.
Digital asset exchanges on which cryptocurrencies trade are relatively new and, in most cases, largely unregulated.
The legal and regulatory regimes, including the laws, rules, and regulations associated with them, are evolving and will be impacted by the bankruptcy of the FTX Exchange and other regulatory concerns with the industry generally.