SOCAMEDIUM SIGNALFINANCIAL10-Q

SOCA has completed its IPO and substantially improved its liquidity position, transitioning from pre-revenue SPAC formation to operational readiness with over $1.2M in cash.

The company has successfully navigated through its initial public offering process and is now positioned to pursue business combinations, with the underwriters providing $65,000 in reimbursements and $1.5M in expense reimbursements improving the overall financial position. However, the company acknowledges it cannot guarantee successful completion of an initial business combination, maintaining execution risk for investors.

Comparing 2025-11-13 vs 2025-08-29View on EDGAR →
FINANCIAL ANALYSIS

SOCA's financial position reflects the completion of its IPO, with cash and equivalents declining modestly to $1.1M while current liabilities increased to $358K, likely reflecting ongoing operational expenses and professional fees. Operating losses improved meaningfully as the company moved beyond initial formation costs, though it remains pre-revenue as expected for a SPAC in the business combination search phase. The overall financial picture shows a company with adequate liquidity to pursue its stated business combination strategy.

FINANCIAL STATEMENT CHANGES
Current Liabilities
Balance Sheet
+39.1%
$258K→$358K

Current liabilities surged 39.1% — significant near-term obligations; verify ability to meet short-term debt.

Operating Income
P&L
+28.1%
-$275K→-$198K

Operating income improving — cost discipline or growing revenue base absorbing fixed costs.

Cash & Equivalents
Balance Sheet
-10.7%
$1.2M→$1.1M

Cash decreased 10.7% — monitor burn rate and upcoming capital needs.

LANGUAGE CHANGES
NEW — 2025-11-13
PRIOR — 2025-08-29
ADDED
As of September 30, 2025, the Company had not yet commenced operations.
The Company will generate non-operating income in the form of interest income on investments from the proceeds derived from the Initial Public Offering.
Subsequent to the Initial Public Offering, the underwriters reimbursed the Company $ 65,000 of underwriting discounts paid to them at closing.
Liquidity and Capital Resources As of September 30, 2025, the Company had $ 1,266,950 of cash and cash equivalents and working capital of $ 1,217,854 .
In connection with the Company s assessment of going concern considerations in accordance with FASB ASC Topic 205-40, Presentation of Financial Statements Going Concern , subsequent to the consummation of the Initial Public Offering, the Company s liquidity has been satisfied through the net proceeds from the consummation of the Initial Public Offering and the Private Placement held outside of the Trust Account, including $ 1,500,000 of reimbursements from the underwriters for certain expenses and fees.
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REMOVED
CONDENSED UNAUDITED STATEMENT OF OPERATIONS FOR THE PERIOD FROM APRIL 1, 2025 (INCEPTION) THROUGH JUNE 30, 2025 Formation, general and administrative expenses $ 77,014 Net Loss $ ( 77,014 ) Weighted average shares outstanding, basic and diluted (1) 5,000,000 Basic and diluted net loss per ordinary share $ ( 0.02 ) (1) Excludes an aggregate of up to 750,000 Class B ordinary shares, $0.0001 par value, which were subject to forfeiture if the Over-Allotment Option was not exercised in full or in part by the underwriters in the Initial Public Offering (Note 6).
As of June 30, 2025, the Company had not yet commenced operations.
The Company will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Initial Public Offering.
Liquidity and Capital Resources As of June 30, 2025 and April 4, 2025, the Company had $ 8,273 and $ 0 in cash and a working capital deficit of $ 501,751 and $ 121,473 , respectively.
Subsequent to the consummation of the Initial Public Offering, the Company s liquidity has been satisfied through the net proceeds from the consummation of the Initial Public Offering and the Private Placement held outside of the Trust Account, including $ 1,500,000 of reimbursements from the underwriters for certain expenses and fees.
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