IMAQ — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-06-25

• International Media Acquisition Corp. (“IMAQ” or the “Company”) is a Delaware blank check company incorporated on January 15, 2021. The Company was form for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business …

• Initially, the Company was required to complete its initial business combination transaction by August 2, 2022, which was 12 months from the closing of the Initial Public Offering (the “Initial Combination Period”). On July 27, 2022, at a special meeting of the Company’s stockholders (the “July 2022…

• On July 26, 2022, the extension payment of $350,000 was deposited by the Prior Sponsor into the Company’s Trust Account to extend the August 2, 2022, deadline to November 2, 2022.

• On October 28, 2022, a second extension payment of $350,000 was deposited by the Prior Sponsor into the Company’s Trust Account to extend the November 2, 2022, deadline to February 2, 2023.

• On January 27, 2023, at a special meeting of the Company’s stockholders (the “January 2023 Special Meeting”), stockholders approved to extend the deadline by which IMAQ must consummate an initial business combination for an additional three (3) months, from February 2, 2023 to May 2, 2023, with an a…

Text removed vs the prior filing · source: 10-K · 2025-07-15

• International Media Acquisition Corp. (“IMAQ” or the “Company”) is a Delaware blank check company established for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business transaction with one or more business…

• On July 27, 2022, IMAQ held a special of stockholders (the “July 2022 Special Meeting”). As approved by its stockholders at the July 2022 Special Meeting, the Company filed a certificate of amendment to its amended and restated certificate of incorporation (the “July 2022 Charter Amendment”) which b…

• On July 26, 2022, the extension payment of $350,000 was deposited by the Prior Sponsor into the Company’s Trust Account to extend the August 2, 2022, deadline to November 2, 2022. On October 28, 2022, a second extension payment of $350,000 was deposited by the Prior Sponsor into the Company’s Trust …

• On January 27, 2023, IMAQ held a special meeting of stockholders (the “January 2023 Special Meeting”). As approved by its stockholders at the January 2023 Special Meeting, the Company filed a certificate of amendment to its amended and restated certificate of incorporation (the “January 2023 Charter…

• The Prior Sponsor has made the monthly deposit into the Trust Account of $128,513 for the monthly extension, from August 2, 2023 until January 2, 2024.

Text added vs the prior filing · source: 10-K · 2026-06-25

• We were required by the Nasdaq Listing Rules to consummate an initial business combination within 36 months of the effectiveness of our Initial Public Offering registration statement. As a result of our failure to consummate an initial business combination within this time period, our securities wer…

• Pursuant to IM-5101-2(b) of the Nasdaq Listing Rules, we were required to consummate an initial business combination within 36 months of the effectiveness of our Initial Public Offering registration statement, or by August 8, 2024 (the “Nasdaq Deadline”). We did not complete our Initial Business Com…

• As previously reported, on July 30, 2024, the Company received a notice (“Delisting Notice”) from the Listing Qualifications Staff of Nasdaq, which stated that, unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the “Panel”) by August 6, 2024 for additional time to comple…

• On August 8, 2024, trading in the Company’s securities was suspended on Nasdaq. The securities are now quoted on Over-the-Counter (OTC) markets under the same symbols.

• The following material consequence may occur as a result of our delisting:

Text added vs the prior filing · source: 10-K · 2026-06-25

• On March 28, 2025, the Company issued Promissory Note D in the aggregate principal amount of up to $600,000 to the Buyer. Pursuant to Promissory Note D, the Buyer agreed to loan to the Company an aggregate amount of up to $600,000. The Promissory Note D shall be payable promptly on demand and in any…

• On April 3, 2025, the Company entered into a merger agreement (the “Original Merger Agreement”) with VCI Holdings Limited, a British Virgin Islands business company (the “VCI”) and Vietnam Biofuels Development Joint Stock Company, a Vietnamese company (“VNB”).

• On April 30, 2026, parties to the Original Merger Agreement entered into an amended and restated merger agreement (as amended from time to time, the “Merger Agreement”) by and among (i) Ethanol Quang Nam Production Company Limited (“EQN”, together with VCI and their respective subsidiaries, the “Com…

• Following the closing of the Reincorporation Merger (the “Closing”), certain shareholders (the “Earnout Shareholders”) shall have the right to receive up to an aggregate of 27,000,000 Purchaser Class A Ordinary Shares (subject to equitable adjustment for share splits, dividends, and similar events),…

• The Share Purchase, the Reincorporation Merger, the Redomestication, and other transactions contemplated by the Merger Agreement (the “VCI Business Combination”) are expected to be consummated after obtaining the required approval by the shareholders of the Company and VCI and the satisfaction of ce…

Text removed vs the prior filing · source: 10-K · 2025-07-15

• On June 28, 2024, the Company entered into the Amendments to the JC Unify Prior Notes. Pursuant to the Amendments to the JC Unify Prior Notes, the Buyer has the right to convert the Prior Notes into the JC Unify Prior Notes Conversion Securities, with no fractional JC Unify Prior Notes Conversion Se…

• The foregoing description of the Amendments to the JC Unify Prior Notes does not purport to be complete and is qualified in its entirety by the terms and conditions of the Amendments to the JC Unify Prior Notes, copies of which are filed as Exhibit 10.1, Exhibit 10.2, and Exhibit 10.3, respectively,…

• On July 9, 2024, the Company received a notice (“Late 10-K Notice”) from the Listing Qualifications Staff of Nasdaq, which states that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) because it had not filed its Annual Report on Form 10-K for the period ended March 31, 2024 wit…

• On July 30, 2024, the Company received a notice (“Delisting Notice”) from the Listing Qualifications Staff of Nasdaq, which stated that, unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the “Panel”) by August 6, 2024 for additional time to complete a business combinatio…

• On August 8, 2024, trading in the Company’s securities was suspended on Nasdaq. The securities are now quoted on Over-the-Counter (OTC) markets under the same symbols.