Chain Bridge I Reports Net Income of $5,800 for Quarter Ending June 30, 2025

Chain Bridge I reported its financial results for the quarter ending June 30, 2025, revealing a net income of approximately $5,800, a significant improvement compared to a net loss of $447,636 in the same period last year. The company attributed this positive shift to a combination of investment income from its Trust Account, which totaled around $56,000, and gains from the change in fair value of derivative liabilities and contingently issuable private placement warrants. For the six months ended June 30, 2025, the company recorded a net loss of $357,847, down from a loss of $1.7 million in the prior year, indicating a reduction in operational expenses and improved financial management.

The company’s total assets as of June 30, 2025, were reported at $5.43 million, slightly down from $5.44 million at the end of 2024. Current assets decreased significantly, primarily due to a drop in cash reserves, which fell to $2,856 from $129,598. The decrease in cash was offset by an increase in investments held in the Trust Account, which rose to $5.42 million from $5.29 million. Current liabilities also increased to $1.27 million from $1.04 million, driven by higher accounts payable and accrued expenses.

In terms of strategic developments, Chain Bridge I is actively pursuing a business combination, with a deadline set for November 15, 2025. The company has entered into a Business Combination Agreement with Phytanix Bio, which is expected to result in a merger that will create a publicly listed holding company. This agreement includes provisions for the conversion of Class A and Class B ordinary shares into shares of the new entity, HoldCo, and the issuance of additional preferred stock to address short-term debt obligations of Phytanix.

Operationally, the company has faced challenges, including a working capital deficit of $1.26 million as of June 30, 2025. The company’s management has acknowledged substantial doubt about its ability to continue as a going concern, given its liquidity position and the impending deadline for completing a business combination. To address these challenges, Chain Bridge I has engaged in various financing arrangements, including loans from related parties, to support its operational needs and facilitate the business combination process.

Looking ahead, Chain Bridge I remains focused on finalizing its business combination with Phytanix Bio, which is anticipated to enhance its market position and operational capabilities. The company is also committed to improving its internal controls and financial reporting processes, as indicated by its ongoing remediation efforts to address identified weaknesses. The successful completion of the business combination is critical for the company’s future viability and growth prospects.