Flag Ship Acquisition Corp (FSHP) Form 10-Q — Jun 5, 2026
Flag Ship Acquisition Corporation reported net income of $159,828 for the quarter ended March 31, 2026, driven by $290,462 in interest and dividends earned on its Trust Account, offset by $130,634 in formation and administrative expenses. The company holds $33.4 million in its Trust Account but has only $1,811 in operating cash, highlighting its dependence on the Trust Account and sponsor loans for liquidity. The company disclosed substantial doubt about its ability to continue as a going concern, as it must complete a business combination by June 20, 2026, or face liquidation. It has terminated its merger agreement with Great Future Technology Inc.
Key figures
- Net Income
- 159828
- Cash Position
- 1811
- Eps
- 0.03
- Shares Outstanding
- 5025517
- Trust Account Balance
- 33430500
- Extension Loan Balance
- 300000
- Promissory Note Outstanding
- 1540219
- Shares Subject To Redemption
- 3062517
Price after filing
Close on the filing date to close N calendar days later (from $11.02). Historical, not a forecast.
AI analysis
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