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Roth CH Acquisition V Co. (ROCL0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a net loss of $195,976 for the three months ended September 30, 2024, compared to a net loss of $646,092 for the same period in 2023.
Operating costs for the quarter were $368,098, with a provision for income taxes of $59,527. Interest earned on marketable securities held in the Trust Account was $229,375.
As of September 30, 2024, Roth CH Acquisition V Co. had $17,928,070 in cash and marketable securities held in the Trust Account, and $6,620 in cash outside the Trust Account.
The company has issued unsecured promissory notes totaling $1,287,944 as of September 30, 2024, to finance transaction costs related to its business combination efforts.
Roth CH Acquisition V Co. is pursuing a business combination with New Era Helium Corp., with a merger agreement that includes conditions such as obtaining shareholder approvals and meeting certain financial thresholds.
The merger agreement may be terminated under specified conditions, including failure to obtain necessary approvals or if the closing does not occur by the specified date.
Roth CH Acquisition V Co. has received a letter from Nasdaq (NDAQ+1.07%) confirming compliance with listing requirements, allowing its securities to remain listed on the exchange.
The company has until December 3, 2024, to complete its initial business combination, with options to extend this period under certain conditions.
The filing also outlines the company's liquidity position, highlighting the need for additional capital to support ongoing operations and potential business combinations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Roth CH Acquisition V Co. quarterly 10-Q report dated November 19, 2024. To report an error, please email earnings@qz.com.