Dt Cloud Acquisition Corporation(DYCQU) - 2023 Q4 - Annual Report

Financial Position - As of December 31, 2023, the company had cash and cash in escrow of $494,818 and a working capital deficit of$228,597[390]. - The principal amount due under the unsecured promissory note from the sponsor was $217,614 as of December 31, 2023[401]. - As of December 31, 2023, the company reported no off-balance sheet arrangements or contractual obligations[410]. Financial Performance - The company reported a net loss of$87,271 for the year ended December 31, 2023, attributed to formation and operating costs[405]. - Cash provided by operating activities for the year ended December 31, 2023, was $4,818, primarily due to adjustments from changes in operating assets and liabilities[399]. - The company has not generated any revenues to date and will not do so until the completion of an initial business combination[404]. Initial Public Offering (IPO) - The initial public offering on February 23, 2024, raised gross proceeds of$69,000,000 from the sale of 6,900,000 units at $10.00 per unit[397]. - Following the IPO, a total of$69,345,000 was deposited in the trust account to fund the initial business combination[398]. - The company issued 103,500 ordinary shares at a par value of $0.0001 each to Brookline Capital Markets as part of representative compensation during the initial public offering, totaling$1,725,000 in underwriting discount[407]. Business Combination Plans - The company has until November 22, 2025, to complete a business combination, with the possibility of extending this period up to 24 months[391]. - The company incurred significant costs in pursuit of acquisition plans and expects to continue doing so[395]. - The company may incur additional working capital loans from sponsors or affiliates to finance transaction costs related to the business combination[403]. Regulatory and Reporting Exemptions - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new or revised accounting standards[411]. - The company is exempt from certain requirements for five years post-initial public offering, including auditor's attestation on internal controls and detailed executive compensation disclosures[412]. - The company has not identified any critical accounting estimates that could materially affect its financial statements[409]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[414].