DT Cloud Acquisition Corporation has reported its financial results for the third quarter of 2025, revealing a significant decline in both revenue and profitability compared to the previous fiscal period. For the three months ended September 30, 2025, the company recorded a net loss of $242,147, a stark contrast to a net income of $760,262 during the same period in 2024. The nine-month results also reflect a downturn, with a net income of $444,595 for 2025, down from $1,633,003 in 2024. The decline in profitability is attributed to increased formation and operating costs, which rose to $725,875 from $538,462 year-over-year.
The company's balance sheet shows a drastic reduction in total assets, which decreased to $1,620,977 as of September 30, 2025, from $72,513,922 at the end of 2024. This decline is primarily due to a significant drop in cash and investments held in the trust account, which fell from $72,345,071 to $1,598,106. Current liabilities also surged, increasing to $3,281,804 from $2,022,819, largely driven by accrued liabilities and a promissory note totaling $715,325. The company’s accumulated deficit has expanded to $3,259,139, up from $1,854,174 at the end of 2024.
Strategically, DT Cloud Acquisition Corporation is in the process of pursuing a business combination with Maius Pharmaceutical Co., Ltd., as outlined in a definitive agreement signed on October 22, 2024. The company has been actively working to extend the deadline for completing this business combination, with the potential to extend the period up to February 23, 2027, contingent upon additional funds being deposited into the trust account. As of September 30, 2025, the company had issued several unsecured promissory notes to Maius, totaling $715,325, to support its operational needs.
Operationally, the company has not yet commenced any revenue-generating activities, as it remains focused on identifying and evaluating potential business combinations. The total number of ordinary shares outstanding as of October 30, 2025, was 2,206,382, with 143,382 shares subject to possible redemption. The company has also faced challenges related to compliance with Nasdaq listing requirements, receiving deficiency letters regarding its market value and publicly held shares, which could impact its ability to maintain its listing.
Looking ahead, DT Cloud Acquisition Corporation's management has expressed uncertainty regarding its ability to continue as a going concern if it fails to complete a business combination by the extended deadline. The company is actively seeking to secure additional financing and is focused on finalizing its business combination with Maius, although there are no assurances regarding the timing or success of this transaction. The ongoing geopolitical tensions and economic uncertainties may also pose risks to the company's future operations and market conditions.
About DT Cloud Acquisition Corp
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