WSTNHIGH SIGNALFINANCIAL10-Q
WSTN significantly improved its liquidity position, reporting $432,172 in cash as of December 31, 2025, compared to nil cash in the prior quarter, while reducing its working capital deficit from $449,377 to $62,156.
This dramatic improvement in the company's financial position suggests successful completion of its IPO and private placement, providing the SPAC with necessary capital to pursue acquisition targets. However, the company continues to face going concern issues due to ongoing cash outflows from operations totaling $217,828, indicating it remains in the early stages of its acquisition timeline and has yet to identify or consummate a business combination.
Comparing 2026-02-13 vs 2025-11-21View on EDGAR →
LANGUAGE CHANGES
NEW — 2026-02-13
PRIOR — 2025-11-21
ADDED
As of December 31, 2025, the Company had not commenced any operations.
Going Concern Consideration As of December 31, 2025, the Company reported a working capital deficit of $ 62,156 and a net cash outflow from operating activities of $ 217,828 .
Cash or cash equivalents were both $ 432,172 and nil as of December 31, 2025 and June 30, 2025.
The Company s financial instruments are classified as either Level 1, Level 2 or Level 3.
As of December 31, 2025, there were no unrecognized tax benefits and no amounts accrued for interest and penalties.
10 WESTIN ACQUISITION CORP NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS Note 2 - Significant Accounting Policies (Continued) Class A ordinary shares subject to possible redemption The Company will account for its Class A ordinary shares subject to possible redemption in accordance with the guidance in ASC Topic 480, Distinguishing Liabilities from Equity (ASC 480).
For the six months ended December 31, 2025, the Company recorded accretion of ordinary share subject to redemption value of $ 801,596 .
There were no underwriting fees or commissions due with respect to the Private Placement.
These loans are non-interest bearing, unsecured and due on the date the Company consummates the business combination.
As of December 31, 2025 and June 30, 2025, $ 449,377 and $ 184,475 was borrowed by the Company under the promissory note.
REMOVED
As of September 30, 2025, the Company had not commenced any operations.
Going Concern Consideration As of September 30, 2025, the Company had nil in cash and a working capital deficit of $ 449,377 , respectively.
Subsequent to the consummation of the IPO, the Company s liquidity has been satisfied through the net proceeds from the consummation of the IPO and the Private Placement held outside of the Trust Account.
Cash or cash equivalents were both nil as of September 30, 2025 and June 30, 2025.
The Company's financial instruments are classified as either Level 1, Level 2 or Level 3.
9 WESTIN ACQUISITION CORP NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS Note 2 - Significant Accounting Policies (Continued) Income Taxes The Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, Income Taxes ( ASC 740 ).
As of September 30, 2025, there were no unrecognized tax benefits and no amounts accrued for interest and penalties.
Class A ordinary shares subject to possible redemption The Company will account for its Class A ordinary shares subject to possible redemption in accordance with the guidance in ASC Topic 480, Distinguishing Liabilities from Equity (ASC 480).
10 WESTIN ACQUISITION CORP NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS Note 2 - Significant Accounting Policies (Continued) Recent Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update 2023-07 Segment Reporting Improvements to Reportable Segment Disclosures ( ASU 2023-07 ).
This update requires public entities to disclose its significant segment expense categories and amounts for each reportable segment.
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