BM3EAC (BACE) H2 2025 earnings summary

Executive summary

• Failed to complete a business combination by the June 2023 deadline, resulting in redemption of all public shares and expiration of warrants; only Sponsor Shares remain outstanding.

• Sponsor Entity provided additional working capital in 2024 ($775,000) and 2025 ($725,000) to support ongoing operations.

• Company continues as a listed acquisition vehicle seeking a suitable business combination, with sufficient funding committed through at least April 2027.

• No employees as of year-end 2025; all Redeemable Ordinary Shares are held in treasury.

Financial highlights

• Bank account balance at year-end 2025: $38,194; accumulated losses: ($1,127,423).

• Total comprehensive loss for 2025: ($349,948), compared to ($633,608) in 2024.

• Interest income for 2025: $2,001; operational expenses: $281,681; interest expense: $70,268.

• No other income in 2025; 2024 included $400,000 cost reimbursement from a failed business combination.

• No dividends paid or declared in 2025 or 2024.

Outlook and guidance

• Directors intend to continue as an acquisition vehicle, leveraging experience and relationships to identify targets.

• Sponsor Entity committed to additional capitalization to support operations through at least April 2027.

• Company believes it will remain a going concern for at least the next 12 months.