Roth CH Acquisition Co. reported its financial results for the third quarter of 2025, revealing a net loss of $707,953 for the three months ending September 30, 2025, compared to a loss of $59,858 in the same period of the previous year. For the nine months ended September 30, 2025, the company experienced a net loss of $2,058,473, a significant decline from a net income of $450,355 reported for the same period in 2024. The losses were primarily attributed to increased operational costs, which rose to $240,703 for the quarter and $945,973 for the nine months, alongside a change in the fair value of warrant liabilities amounting to $467,250 and $1,112,500, respectively.
The company's balance sheet as of September 30, 2025, showed total assets of $21.3 million, a notable increase from $14.2 million at the end of 2024. Cash reserves also improved, rising to $16,083 from $6,738. However, total liabilities increased to $3.1 million, up from $2.3 million, largely due to a rise in accounts payable and accrued expenses, which reached $1.6 million. The shareholders' deficit widened to $3.1 million, compared to $2.2 million at the end of the previous fiscal year, reflecting the ongoing operational losses.
Strategically, Roth CH Acquisition Co. is in the process of completing a business combination with SharonAI Inc., a company focused on high-performance computing and artificial intelligence. This merger is part of the company's plan to transition from a blank check company to an operational entity. The business combination agreement was signed on January 28, 2025, and has undergone amendments to extend the closing date to December 31, 2025. The merger is expected to involve the issuance of approximately 560.8 million shares of common stock of the newly formed entity, SharonAI Holdings, Inc.
Operationally, Roth CH Acquisition Co. has not yet commenced any revenue-generating activities, as it remains focused on identifying and evaluating potential business combinations. The company has incurred significant costs related to its public company status, including legal and compliance expenses. As of September 30, 2025, the company had a working capital deficit of $1.8 million, raising concerns about its liquidity and ability to continue as a going concern without additional financing. The company anticipates needing to raise further capital to support its operations and complete the business combination.
Looking ahead, Roth CH Acquisition Co. faces challenges in securing the necessary funding to sustain its operations and fulfill its strategic objectives. The company has indicated that it may rely on loans or additional investments from its sponsor or related parties to meet its working capital needs. The ongoing geopolitical tensions and market volatility could also impact the company's ability to successfully complete its business combination and achieve its growth targets.
About Roth CH Acquisition Co.
Roth CH Acquisition Co. is a blank check company focused on effecting mergers or acquisitions, primarily targeting high-performance computing and artificial intelligence assets. It seeks to combine with private or complex businesses, leveraging strategic due diligence and shareholder approval processes. The company emphasizes operational and financial evaluation, while managing risks related to regulatory compliance, management assessment, and financing to complete its initial business combination.
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