Financial Performance - For the years ended December 31, 2024 and 2023, the company reported a net income of $1,344,563 and $4,924,098, respectively, with formation and operational costs of $913,909 and $435,287[200]. - Net cash used in operating activities for the years ended December 31, 2024 and 2023 was $(243,395) and $(235,925), respectively[204]. - The company has not identified any critical accounting estimates that would materially affect its financial statements[218]. Capital Generation - The company generated gross proceeds of $115,000,000 from the initial public offering of 11,500,000 Units and an additional $3,300,000 from the sale of 330,000 Private Units[201]. - The company incurred $5,669,696 in transaction costs related to the initial public offering, including $2,300,000 in underwriting fees[202]. Investments and Cash Position - As of December 31, 2024, the company had investments held in the Trust Account amounting to $11,111,853, down from $101,590,662 in 2023[205]. - As of December 31, 2024, the company had cash of $nil held outside of the Trust Account, indicating reliance on Trust Account funds for operations[206]. Debt and Obligations - The company has no long-term debt or capital lease obligations, but incurs a monthly fee of $10,000 to the Sponsor for administrative services[215]. - The company issued promissory notes totaling $6,245,961, which were waived by the Sponsor as of September 25, 2024[212]. Future Plans and Capital Needs - The company expects to incur significant costs in pursuing acquisition plans and may need to raise additional capital to complete a business combination[208].

Core Points - The Company will not appeal Nasdaq's decision to delist its securities, which will be suspended from trading on December 23, 2024 [1] - The Company plans to apply for listing on the OTC market under the same ticker symbols after delisting from Nasdaq [1] - The delisting does not impact the ongoing business combination with OU XDATA GROUP, and both parties are working towards closing the deal [1] - The merged entity intends to apply for listing on the Nasdaq Stock Market upon completion of the business combination [1] Company Information - Alpha Star Acquisition Corporation is a blank check company established under Cayman Islands law for the purpose of executing mergers, share exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations [7] - The Company remains a reporting entity under the Securities Exchange Act of 1934, ensuring continued disclosure of financial and operational information [3] Business Combination Details - The Company filed a definitive proxy statement for an extraordinary general meeting of shareholders on December 27, 2024, to approve amendments to the investment management trust agreement [6] - The amendments will allow the Company to extend the liquidation commencement date of the trust account up to six additional times, each by one month, by depositing $35,000 for each extension [6] - The Company believes it is likely to fully exercise this discretion to extend the business combination period [6]

Financial Performance - For the three months ended September 30, 2024, the company reported a net loss of $(139,268) compared to a net income of $1,232,740 for the same period in 2023[105][106] - The company had operating costs of $459,346 for the three months ended September 30, 2024, which is significantly higher than the $104,592 reported for the same period in 2023[105][106] - Interest income on marketable securities held in the Trust Account for the nine months ended September 30, 2024, was $2,089,852, compared to $3,614,671 for the same period in 2023[105][109] - The Company reported that diluted net income (loss) per ordinary share is the same as basic net income (loss) per ordinary share for the periods presented due to the absence of dilutive securities[129] Capital and Financing - The company generated gross proceeds of $115,000,000 from its IPO, with net proceeds of $115,682,250 after offering costs[107] - The company incurred net cash used in financing activities of $92,857,282 for the nine months ended September 30, 2024, primarily due to the redemption of public shares[108] - The company entered into a Loan Agreement with its Sponsor for a $1.5 million loan to cover transaction costs and extension fees[116] - The company may need to raise additional capital to meet expenditures required for operating its business and completing a Business Combination[118] Assets and Securities - As of September 30, 2024, the company had marketable securities held in the Trust Account amounting to $10,962,587[110] - As of September 30, 2024, the Company had no exposure to market or interest rate risk, with net proceeds from the Initial Public Offering invested in U.S. government securities and money market funds[131] - The warrants issued in connection with the Initial Public Offering are exercisable to purchase a total of 5,915,000 ordinary shares, while rights are exercisable to convert 1,690,000 ordinary shares[129] Subsidiary and Operations - The company established a wholly owned subsidiary, Xdata Group, on September 4, 2024, to serve as PubCo for its initial business combination[105] - The company has no long-term debt or capital lease obligations as of September 30, 2024, apart from a monthly fee of $10,000 to the Sponsor for administrative services[121] Accounting and Standards - The Company does not anticipate any material effect on its interim condensed consolidated financial statements from recently issued accounting standards that are not yet effective[130]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-41153 ALPHA STAR ACQUISITION CORPORATION (Exact name of registrant as specified in its charter) | --- | --- | |------------------------ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-41153 ALPHA STAR ACQUISITION CORPORATION (Exact name of registrant as specified in its charter) | --- | |----------------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File No. 001-41153 ALPHA STAR ACQUISITION CORPORATION (Exact Name of Registrant as Specified in Its Charter) CaymanIslands (State or other ju ...

Core Insights - Alpha Star Acquisition Corporation has entered into a letter of intent with XDATA GROUP OÜ, a financial technology solutions company based in Estonia, on June 19, 2024 [1][3] - The partnership aims to enhance Xdata's access to capital and facilitate its move towards a Nasdaq listing, promoting growth and innovation in the financial technology sector [3] Company Overview - Alpha Star Acquisition Corporation is a blank check company established in the Cayman Islands, focused on mergers, share exchanges, asset acquisitions, and similar business combinations [4] - XDATA GROUP OÜ specializes in financial technology solutions, offering products such as an Internet Banking Suite, Mobile Banking Apps, and a comprehensive CRM solution [5] Product Highlights - Xdata has launched a new product called ComplyControl, which features advanced analytics powered by AI and machine learning, real-time monitoring, and customizable screening options [2] - The product aims to enhance client satisfaction by providing tailored solutions and seamless integration with existing systems [2]

Financial Performance - For the three months ended September 30, 2023, the company reported a net income of $1,232,740, compared to a net loss of $415,467 for the same period in 2022[104][105]. - For the nine months ended September 30, 2023, the company achieved a net income of $3,718,369, while in the same period of 2022, it recorded a net loss of $220,668[104][105]. - The Company reported that the diluted net income (loss) per ordinary share is the same as the basic net income (loss) per ordinary share for the periods presented, as there were no dilutive securities or contracts other than warrants and rights[124]. Assets and Securities - As of September 30, 2023, the company held marketable securities in the Trust Account amounting to $99,368,056[108]. - The company had cash of $101,629 held outside of the Trust Account as of September 30, 2023, intended for operational expenses related to identifying target businesses[110]. - As of September 30, 2023, the Company had no market or interest rate risk, with net proceeds from the Initial Public Offering invested in U.S. government securities with a maturity of 180 days or less[126]. Operating Costs and Expenses - The company incurred operating costs of $316,908 for the nine months ended September 30, 2023, which is a decrease from $472,504 for the same period in 2022[107][108]. - The company is obligated to pay a monthly fee of $10,000 to the Sponsor for general and administrative services until the completion of a Business Combination[117]. Capital and Financing - The company generated gross proceeds of $115,000,000 from its IPO of 11,500,000 units at $10.00 per unit[106]. - The company has issued promissory notes totaling up to $6,300,000 to the Sponsor to cover extension fees and transaction costs[112][113][114]. - The company expects to incur significant costs in pursuing its acquisition plans and may need to raise additional capital to complete a Business Combination[111][115]. - The company has no long-term debt or off-balance sheet financing arrangements as of September 30, 2023[116]. Income Allocation - The Company allocated undistributed income (loss) rateably based on the weighted average number of shares outstanding between redeemable and non-redeemable shares[123].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Cayman Islands N/A (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Title of each class Trading Symbol(s) Name of each exchange on which registered Units, each consisting of one ordinary share, one redeemable warrant, and one right ALSAU The Nasdaq Stock Market LLC Ordinary Shares, $0.001 par value ALSA The Nasdaq Stock Market LLC Redeemable warrants entitle the holder to purchase one-h ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Cayman Islands N/A (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Title of each class Trading Symbol(s) Name of each exchange on which registered Units, each consisting of one ordinary share, one redeemable warrant, and one right ALSAU The Nasdaq Stock Market LLC Ordinary Shares, $0.001 par value ALSA The Nasdaq Stock Market LLC Redeemable warrants entitle the holder to purchase one-h ...