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Integral Acquisition Corporation 1 Unit (INTEU0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, detailing a net loss of $268,093 for the three months ended September 30, 2024, primarily due to operating costs and provision for income tax.
The company reported a working capital deficit of $3,929,352 as of September 30, 2024, with $927,414 in its operating bank account, including $900,000 in a segregated account for excise taxes.
Integral Acquisition Corporation 1 Unit has extended its Combination Period multiple times, with the latest extension moving the deadline to November 5, 2025.
The company is engaged in a proposed business combination with Flybondi, with recent amendments extending the agreement end date to March 31, 2025.
Integral Acquisition Corporation 1 Unit's securities were delisted from Nasdaq (NDAQ-5.47%) on November 11, 2024, and are now trading on the OTC market.
The filing notes a reserve for uncertain tax positions of $371,214 as of September 30, 2024, related to deductions for startup and operating costs.
Integral Acquisition Corporation 1 Unit has issued multiple promissory notes to its sponsor to fund operations and extend the Combination Period.
The company continues to focus on completing its business combination with Flybondi and addressing liquidity and capital resource challenges.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Integral Acquisition Corporation 1 Unit quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.