IB Acquisition Corp. Reports Net Income Turnaround and Increased Assets for Quarter Ended March 31, 2025

IB Acquisition Corp. reported its financial results for the three and six months ended March 31, 2025, revealing a net income of $824,126 for the quarter, a significant turnaround from a net loss of $194,646 in the same period last year. For the six-month period, the company recorded a net income of $1,731,194, compared to a loss of $282,137 in the prior year. The positive results were primarily driven by interest and dividends earned on cash and investments held in the Trust Account, which amounted to $1,250,141 for the quarter and $2,621,671 for the six months.

The company’s total assets increased to $121.2 million as of March 31, 2025, up from $119.8 million at the end of the previous fiscal period. This growth was largely attributed to the cash and investments held in the Trust Account, which rose to $120.3 million from $118.6 million. However, total current liabilities decreased significantly to $355,147 from $722,230, primarily due to a reduction in income taxes payable, which fell from $635,512 to $262,063.

Operationally, IB Acquisition Corp. has not yet engaged in any business combinations, as it continues to seek potential targets for acquisition. The company remains focused on identifying opportunities in various sectors, including consumer goods, sports and entertainment, and healthcare technology. As of the reporting date, the company had not initiated substantive discussions with any potential business combination targets. The management team is actively pursuing a business combination within the 18-month period following the completion of its Initial Public Offering (IPO).

The company’s employee headcount remained stable at 4,249,090 shares of common stock issued and outstanding, with 11,500,000 shares subject to possible redemption. The company’s cash position at the end of the reporting period was $627,375, down from $822,799 at the end of September 2024. The management has expressed concerns regarding liquidity, indicating that the company may lack sufficient funds to sustain operations for a reasonable period unless a business combination is successfully completed.

Looking ahead, IB Acquisition Corp. acknowledges the uncertainties surrounding its ability to complete a business combination and the potential impact of external factors such as economic conditions and market volatility. The management plans to address these challenges through strategic initiatives aimed at securing a suitable target for acquisition. However, there is no assurance that these plans will be successful, and the company has indicated that it may need to raise additional funds to meet its operational needs or to facilitate a business combination.