Kairous Acquisition Corp. Reports Net Loss of $60,106 for Quarter Ended March 31, 2025

Kairous Acquisition Corp. Limited has reported its financial results for the three and nine months ended March 31, 2025, revealing a net loss of $60,106 for the quarter and $272,455 for the nine-month period. This marks a significant decline compared to the same periods in 2024, where the company recorded a net income of $46,544 for the first quarter and $69,863 for the nine months. The company did not generate any revenue during these periods, consistent with its status as a special purpose acquisition company (SPAC) that has yet to complete a business combination.

The company's total assets decreased to $10.6 million as of March 31, 2025, down from $16.2 million at the end of June 2024. This decline is primarily attributed to a reduction in cash held in the Trust Account, which fell from $16.2 million to $10.6 million. Current liabilities also increased significantly, rising to $4.36 million from $3.21 million, driven by higher accounts payable and accrued expenses, as well as increased extension loans from the sponsor.

Kairous Acquisition Corp. has not made any significant operational advancements, as it remains in the process of liquidating its Trust Account and redeeming public shares. The company has not yet commenced any operations since its inception in March 2021, and all activities have been focused on the formation and negotiation of a potential business combination. The company’s management has indicated intentions to amend its charter to remove the obligation to liquidate, allowing it to remain listed on the OTC Markets and explore alternative business opportunities.

As of the reporting date, Kairous Acquisition Corp. had 818,795 ordinary shares subject to possible redemption, down from 1,337,763 shares in the previous fiscal period. The company’s accumulated deficit has increased to $7.09 million, up from $5.87 million, reflecting ongoing operational losses. The company’s cash position at the end of the reporting period was $0, a decrease from $985 at the end of June 2024, indicating a tightening liquidity situation.

Looking ahead, Kairous Acquisition Corp. faces challenges in completing a business combination, as it has not yet identified a target. The company has extended its deadline for completing a business combination multiple times, with the latest extension allowing until December 16, 2024. However, the failure to extend the deadline beyond May 16, 2025, could trigger a mandatory liquidation process. The management's focus will likely remain on finding a suitable business combination to utilize the funds held in the Trust Account effectively.