Alpha Star Acquisition Corporation Reports Q2 2026 Financial Results with Increased Net Loss

Alpha Star Acquisition Corporation has reported its financial results for the second quarter of 2026, revealing a net loss of $142,258 for the three months ending June 30, 2026, compared to a loss of $137,495 during the same period in 2025. For the first half of 2026, the company recorded a net loss of $308,056, a slight improvement from the $338,262 loss reported in the first half of 2025. The company's operating expenses for the second quarter were $149,395, up from $142,376 in the prior year, while total operating costs for the first half of 2026 were $322,008, down from $366,188 in the same period last year. The increase in operating expenses was primarily attributed to formation and operational costs.

In terms of assets, Alpha Star reported total assets of $849,169 as of June 30, 2026, an increase from $724,387 at the end of 2025. This growth was driven by an increase in marketable securities held in the trust account, which rose to $814,834 from $718,072. However, the company’s liabilities also increased significantly, with total liabilities reaching $3,427,128, up from $2,972,100 at the end of the previous fiscal year. The increase in liabilities was largely due to a rise in promissory notes and loans payable to the Sponsor, which increased to $1,910,121 from $1,431,299.

Operationally, Alpha Star has not yet completed a business combination, which remains its primary objective. The company has extended the deadline for completing a business combination to December 15, 2026, following shareholder approvals at various meetings. As part of its strategic developments, Alpha Star has entered into a Business Combination Agreement with OU XDATA GROUP, which is expected to be a significant step forward in its operational strategy. The company has also been actively managing its cash flow, with net cash used in operating activities amounting to $373,822 for the first half of 2026, compared to $528,701 in the same period of 2025.

Looking ahead, Alpha Star's management has indicated that it will continue to seek additional financing to support its business combination efforts. The company has expressed concerns regarding its liquidity, noting a working capital deficit of $2,442,793 as of June 30, 2026. The management team has acknowledged the uncertainty surrounding its ability to continue as a going concern if a business combination is not consummated by the liquidation date. The company plans to utilize funds from its trust account, which currently holds $814,834 in marketable securities, to finance the business combination and cover operational costs.