DT Cloud Acquisition Corporation Reports Q1 2025 Financial Results with Increased Net Income

DT Cloud Acquisition Corporation has reported its financial results for the first quarter of 2025, revealing a net income of $452,085, a significant increase from the $43,875 reported in the same period of 2024. The company generated total other income of $740,347, primarily from dividend income earned on cash and investments held in its trust account, which increased from $346,257 in the prior year. Operating costs for the quarter were $288,262, slightly lower than the $302,382 incurred in the first quarter of 2024.

The company's balance sheet as of March 31, 2025, shows total assets of $53.69 million, a decrease from $72.51 million at the end of 2024. This decline is attributed to a reduction in cash and investments held in the trust account, which fell from $72.35 million to $53.62 million. Current liabilities increased to $844,041 from $297,819, driven by higher accrued liabilities and amounts due to related parties. The accumulated deficit also widened to $2.50 million from $1.85 million, reflecting the company's ongoing operational costs without revenue generation from business activities.

Strategically, DT Cloud Acquisition Corporation has been active in pursuing a business combination. The company entered into a definitive business combination agreement with Shanghai Maius Pharmaceutical Technology Co., Ltd. on October 22, 2024. This agreement is part of the company's broader strategy to identify and merge with suitable business candidates, with the aim of completing the business combination within the extended timeframe allowed by its shareholders. As of March 20, 2025, shareholders approved an extension to complete the business combination until May 23, 2026.

Operationally, the company has seen changes in its shareholder base, with 1,868,367 shares redeemed at a price of approximately $10.61 per share during the first quarter, totaling $19.82 million. The company’s cash position at the end of the quarter was $1, down from $152,021 at the beginning of the year, indicating a significant drawdown of cash resources. The company has maintained a consistent number of ordinary shares outstanding at 2,063,000, while the weighted average shares outstanding for the period increased to 6,754,683 due to the redemption activity.

Looking ahead, DT Cloud Acquisition Corporation remains focused on finalizing its business combination and is actively evaluating potential candidates. The company has indicated that it will continue to utilize its trust account funds to support its operational needs and extend the timeline for completing the business combination as necessary. The management's ability to successfully execute this strategy will be critical in determining the company's future financial performance and operational viability.