Flag Ship Acquisition Corp (FSHP) Form 10-K — May 29, 2026
Flag Ship Acquisition Corporation reported a working capital deficit of $1.44 million and disclosed material weaknesses in its internal controls, including inadequate segregation of duties and insufficient accounting policies. The auditor’s report expresses substantial doubt about the company’s ability to continue as a going concern, noting that the company lacks the liquidity needed to sustain operations for a reasonable period. The company terminated two proposed business combinations during the fiscal year: one with Great Rich Technologies Limited in April 2025 and another with Great Future Technology Inc. in May 2026.
Key figures
- Cash In Trust
- 33080038
- Ipo Gross Proceeds
- 69000000
- Transaction Costs
- 3448233
- Shares Outstanding
- 5025517
- Extension Fee Monthly
- 60000
- Public Shares Unredeemed
- 3062517
- Deferred Underwriting Fees
- 1725000
- Private Placement Proceeds
- 2380000
Price after filing
Close on the filing date to close N calendar days later (from $10.97). Historical, not a forecast.
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.