IRHOR — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-07-13

• For the six months ended May 31, 2026, we had a net income of $2,659,996, which consists of interest earned on cash and investments held in the Trust Account of $3,711,448, offset by general, formation and operational costs of $1,051,452.

• For the three months ended May 31, 2025, we had a net loss of $23,187, which consists of general, formation and operational costs of $23,187.

• For the six months ended May 31, 2025, we had a net loss of $95,857, which consists of general, formation and operational costs of $95,857.

• In connection with our assessment of going concern considerations in accordance with FASB ASC 205-40, “Financial Statement Presentation — Going Concern,” the our Management has determined that we currently lack the liquidity needed to sustain operations for a reasonable period of time, which is cons…

• We have no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of May 31, 2026. We do not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which w…

Text removed vs the prior filing · source: 10-Q · 2026-04-02

• For the three months ended February 28, 2025, we had a net loss of $72,670, which consists of general and administrative costs of $72,670.

• We have no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of February 28, 2026. We do not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, wh…

• The underwriters were entitled to a deferred underwriting discount of 4.50% of the gross proceeds of the Initial Public Offering held in the Trust Account other than those sold pursuant to the underwriters’ over-allotment option and 6.50% of the gross proceeds sold pursuant to the underwriters’ over…

• The preparation of unaudited financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contin…

• In November 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided …