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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 ~~September~~March 3031, ~~2024~~2025

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM __________ TO ________

COMMISSION FILE NUMBER: 001-40796

WINVEST ACQUISITION CORP.

(Exact name of registrant as specified in its charter)

Delaware		86-2451181
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

125 Cambridgepark Drive, Suite 301
Cambridge, Massachusetts		02140
(Address of principal executive offices)		(Zip Code)

(617) 658-3094

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act: None.

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Units, each consisting of one share of Common Stock, one redeemable Warrant, and one Right	WINVU	~~The~~OTC ~~Nasdaq~~Markets ~~Stock~~Group ~~Market LLC~~Inc.
Common Stock, par value $0.0001 per share	WINV	~~The~~OTC ~~Nasdaq~~Markets ~~Stock~~Group ~~Market LLC~~Inc.
Warrants to acquire one-half (1/2) of a share of Common Stock	WINVW	~~The~~OTC ~~Nasdaq~~Markets ~~Stock~~Group ~~Market LLC~~Inc.
Rights to acquire one-fifteenth (1/15) of one share of Common Stock	WINVR	~~The~~OTC ~~Nasdaq~~Markets ~~Stock~~Group ~~Market LLC~~Inc.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
		Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act: ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☒ No ☐

As of ~~November~~January 1430, ~~2024~~2026, the Registrant had 3,~~367~~095,~~333~~036 shares of its common stock, $0.0001 par value per share, outstanding.

WINVEST ACQUISITION CORP.

FOR THE QUARTERLY PERIOD ENDED ~~SEPTEMBER~~MARCH 3031, ~~2024~~2025

TABLE OF CONTENTS

		Page
PART I. FINANCIAL INFORMATION		1
ITEM 1.	Financial Statements	1
	Condensed Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023	1
	Condensed Balance Sheets as of March 31, 2025 (Unaudited) and December 31, 2024	1
	Unaudited Condensed Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023	2
	Unaudited Condensed Statements of Operations for the Three Months Ended March 31, 2025 and 2024	2
	Unaudited Condensed Statements of Changes in Stockholders’ Deficit for the Three and Nine Months Ended September 30, 2024 and 2023	3
	Unaudited Condensed Statements of Changes in Stockholders’ Deficit for the Three Months Ended March 31, 2025 and 2024	3
	Unaudited Condensed Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023	4
	Unaudited Condensed Statements of Cash Flows for the Three Months Ended March 31, 2025 and 2024	4
	Notes to Unaudited Condensed Financial Statements	5
ITEM 2.	Management’s Discussion and Analysis of Financial Conditions and Results of Operations	2325
ITEM 3.	Quantitative and Qualitative Disclosures about Market Risk	3032
ITEM 4.	Controls and Procedures	3132
PART II. OTHER INFORMATION		3133
ITEM 1.	Legal Proceedings	3133
ITEM 1A.	Risk Factors	3133
ITEM 2.	Unregistered Sales of Equity Securities and Use of Proceeds	3433
ITEM 3.	Defaults Upon Senior Securities	3433
ITEM 4.	Mine Safety Disclosures	3433
ITEM 5.	Other Information	34
ITEM 6.	Exhibits	3534
SIGNATURES		3635

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

WINVEST ACQUISITION CORP.

CONDENSED BALANCE SHEETS

	September 30, 2024			December 31, 2023
	March 31, 2025			December 31, 2024
	~~(Unaudited)~~	(Unaudited)		~~(Audited)~~	(Audited)
ASSETS
Current assets:
Cash	$	~~548~~580		$	~~37,946~~566
Tax receivable		-			99,814
Related party receivable		97,434			97,434
Prepaid expenses, short-term portion		9371,~~448~~268			~~133~~97,~~117~~078
Total current assets		93169,~~996~~282			~~270~~195,~~877~~078
Cash and marketable securities held in Trust Account		5,793,629			12,453,412
Cash and money market funds held in Trust Account		3,260,834			3,144,707
Total assets		53,~~887~~430,~~625~~116			123,~~724~~339,~~289~~785
LIABILITIES AND STOCKHOLDERS’ (DEFICIT)
Current liabilities:
Accounts payable and accrued liabilities		12,~~821~~925,~~232~~885			~~991~~2,~~998~~468,713
Income tax payable		~~133~~132,000			~~189~~128,000
Excise tax payable		~~154~~182,~~115~~130			80182,~~443~~130
Related party payables		~~315~~375,000			~~225~~345,000
Extension note, related party		1,~~590~~770,000			1,~~195~~680,000
Promissory note, related party		1,~~009~~422,~~200~~202			~~306~~1,204,500
Total current liabilities		56,~~022~~807,~~547~~217			26,~~987~~008,~~941~~343
Deferred underwriting commissions		4,025,000			4,025,000
Total liabilities		910,~~047~~832,~~547~~217			710,~~012~~033,~~941~~343
Commitments and Contingencies (Note 5)		-			-
Common stock subject to possible redemption; 492,333 and 1,143,123 shares outstanding at
Common stock subject to possible redemption; 258,778 shares outstanding at redemption values of $12.98 and $12.53 per share as of March 31, 2025 and December 31, 2024, respectively		3,358,269			3,242,141
redemption values of $11.77 and $10.89 per share as of September 30, 2024 and December 31, 2023, respectively		5,793,629			12,453,412
Common stock subject to possible redemption; 492,333 and 1,143,123 shares outstanding at redemption values of $11.77 and $10.89 per share as of September 30, 2024 and December 31, 2023, respectively		5,793,629			12,453,412
Stockholders’ deficit:
Preferred stock, par value $0.0001, 1,000,000 shares authorized, 0 issued and outstanding		-			-
Common stock, par value $0.0001, 100,000,000 shares authorized; 2,875,000 issued and outstanding
Common stock, par value $0.0001, 100,000,000 shares authorized; 2,875,000 issued and outstanding (excluding 258,778 shares subject to possible redemption as of March 31, 2025 and December 31, 2024, respectively)		288			288
(excluding 492,333 and 1,143,123 shares subject to possible redemption as of September 30, 2024 and December 31, 2023, respectively)		288			288
Common stock, par value $0.0001, 100,000,000 shares authorized; 2,875,000 issued and outstanding (excluding 492,333 and 1,143,123 shares subject to possible redemption as of September 30, 2024 and December 31, 2023, respectively)		288			288
Additional paid-in capital		-			-
Accumulated deficit		(810,~~953~~760,~~839~~658	)		(69,~~742~~935,~~352~~987	)
Total stockholders’ deficit		(810,~~953~~760,~~551~~370	)		(69,~~742~~935,~~064~~699	)
Total liabilities and stockholders’ deficit	$	53,~~887~~430,~~625~~116		$	123,~~724~~339,~~289~~785

The accompanying notes are an integral part of these unaudited condensed financial statements.

WINVEST ACQUISITION CORP.

CONDENSED STATEMENTS OF OPERATIONS

(Unaudited)

	For the Three Months Ended			For the Three Months Ended			~~For the Nine Months Ended~~			~~For the Nine Months Ended~~
	September 30, 2024			September 30, 2023			September 30, 2024			September 30, 2023
	March 31, 2025			March 31, 2024
Operating expenses:	$	~~946~~730,~~492~~258		$	~~257~~225,~~485~~101		$	~~1,724,753~~		$	~~1,476,911~~
Loss from operations		(~~946~~730,~~492~~258	)		(~~257~~225,~~485~~101	)		~~(1,724,753~~	)		~~(1,476,911~~	)
Other income:
Interest income		7325,~~750~~714			~~167~~142,~~847~~655			~~358,358~~			~~606,230~~
Total other income		7325,~~750~~714			~~167~~142,~~847~~655			~~358,358~~			~~606,230~~
Loss before income taxes		(~~872~~704,~~742~~544	)		(8982,~~638~~446	)		~~(1,366,395~~	)		~~(870,681~~	)
Provision for income taxes		(114,000	)		(1424,000	)		~~(64,000~~	)		~~(96,000~~	)
Net loss	$	(~~883~~708,~~742~~544	)	$	(~~103~~106,~~638~~446	)	$	~~(1,430,395~~	)	$	~~(966,681~~	)
Weighted-average common shares outstanding, basic and diluted, redeemable shares subject to redemption		~~492~~258,~~333~~778			1,~~265~~143,~~429~~123			~~858,105~~			~~1,639,715~~
Basic and diluted net loss per share, redeemable shares subject to redemption	$	-		$	-		$	-		$	-
Weighted-average common shares outstanding, basic and diluted, non-redeemable shares		2,875,000			2,875,000			~~2,875,000~~			~~2,875,000~~
Basic and diluted net loss per share, non-redeemable shares	$	(0.3125	)	$	(0.04	)	$	~~(0.50~~	)	$	~~(0.34~~	)

The accompanying notes are an integral part of these unaudited condensed financial statements.

WINVEST ACQUISITION CORP.

CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT FOR THE

THREE ~~AND~~ ~~NINE~~ MONTHS ENDED ~~SEPTEMBER~~MARCH 3031, ~~2024~~2025 AND ~~2023~~2024

					Additional					Total
	Common Stock				Paid-in		Accumulated			Stockholders’
	Shares		Amount		Capital		Deficit			Deficit
Balance, January 1, 2023		2,875,000	$	288	$	-	$	(4,588,137	)	$	(4,587,849	)
Balance, January 1, 2024		2,875,000	$	288	$	-	$	(6,742,352	)	$	(6,742,064	)
Remeasurement of common stock to redemption value		-		-		-		(~~434~~262,~~200~~269	)		(~~434~~262,~~200~~269	)
Net loss		-		-		-		(~~404~~106,~~527~~446	)		(~~404~~106,~~527~~446	)
Balance, March 31, 2023 (Unaudited)		2,875,000		288		-		(5,426,864	)		(5,426,576	)
Balance, March 31, 2024		2,875,000		288		-		(7,111,067	)		(7,110,779	)
Remeasurement of common stock to redemption value		-		-		-		(383,961	)		(383,961	)
Excise tax payable		-		-		-		(67,218	)		(67,218	)
Net loss		-		-		-		(458,516	)		(458,516	)
Balance, June 30, 2023 (Unaudited)		2,875,000		288		-		(6,336,559	)		(6,336,271	)
Remeasurement of common stock to redemption value		-		-		-		(362,826	)		(362,826	)
Net loss		-		-		-		(103,638	)		(103,638	)
Balance, September, 2023 (Unaudited)		2,875,000		288		-		(6,803,023	)		(6,802,735	)

					Additional					Total
	Common Stock				Paid-in		Accumulated			Stockholders’
	Shares		Amount		Capital		Deficit			Deficit
Balance, January 1, 2024		2,875,000	$	288	$	-	$	(6,742,352	)	$	(6,742,064	)
Balance, January 1, 2025		2,875,000	$	288	$	-	$	(9,935,987	)	$	(9,935,699	)
Remeasurement of common stock to redemption value		-		-		-		(262,269	)		(262,269	)
Balance		2,875,000	$	288	$	-	$	(9,935,987	)	$	(9,935,699	)
Net loss		-		-		-		(106,446	)		(106,446	)
Remeasurement of common stock to redemption value		-		-		-		(116,127	)		(116,127	)
Balance, March 31, 2024 (Unaudited)		2,875,000		288		-		(7,111,067	)		(7,110,779	)
Net loss		-		-		-		(708,544	)		(708,544	)
Remeasurement of common stock to redemption value		-		-		-		(281,411	)		(281,411	)
Balance, March 31, 2025		2,875,000		288		-		(10,760,658	)		(10,760,370	)
Net loss		-		-		-		(440,207	)		(440,207	)
Balance		2,875,000		288		-		(10,760,658	)		(10,760,370	)
Excise tax payable		-		-		-		(73,672	)		(73,672	)
Balance, June 30, 2024 (Unaudited)		2,875,000		288		-		(7,906,357	)		(7,906,069	)
Balance		2,875,000		288		-		(7,906,357	)		(7,906,069	)
Remeasurement of common stock to redemption value		-		-		-		(163,740	)		(163,740	)
Net loss		-		-		-		(883,742	)		(883,742	)
Balance, September 30, 2024 (Unaudited)		2,875,000		288		-		(8,953,839	)		(8,953,551	)
Balance		2,875,000		288		-		(8,953,839	)		(8,953,551	)

The accompanying notes are an integral part of these unaudited condensed financial statements.

WINVEST ACQUISITION CORP.

CONDENSED STATEMENTS OF CASH FLOWS

(Unaudited)

	For the Nine Months Ended			For the Nine Months Ended
	For the Three Months Ended			For the Three Months Ended
	September 30, 2024			September 30, 2023
	March 31, 2025			March 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(1708,~~430,395~~544	)	$	(~~966~~106,~~681~~446	)
Adjustments to reconcile net loss to net cash used in operating activities:
Interest earned on cash and marketable securities held in Trust Account		(352,470	)		(605,839	)
Interest earned on cash and money market funds held in Trust Account		(26,127	)		(137,319	)
Changes in operating assets and liabilities:
Changes in taxes receivable		~~99,814~~-			-99,814
Changes in prepaid expenses		3925,~~669~~810			~~198~~(24,~~775~~633	)
Changes in accounts payable and accrued expenses		~~829~~457,~~234~~173			~~646~~14,~~525~~709
Changes in taxes payable		~~(56~~4,000	)		9624,000
Changes in related party payables		9030,000			8830,000
Net cash used in operating activities		(~~780~~217,~~148~~688	)		(~~543~~99,~~220~~875	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in Trust Account		(~~395~~90,000	)		(~~885~~165,000	)
Withdrawal of interest from Trust Account to pay taxes		~~40,050~~-			~~309~~40,~~851~~050
Cash withdrawn from Trust Account in connection with redemption		7,367,204			6,721,795
Net cash used in investing activities		(90,000	)		(124,950	)
Net cash provided by investing activities		7,012,254			6,146,646
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from promissory note - related party		~~702~~217,~~700~~702			~~146~~72,000
Proceeds from extension note - related party		~~395~~90,000			~~885~~165,000
Redemption of common stock		(7,367,204	)		(6,721,795	)
Net cash provided by financing activities		307,702			237,000
Net cash used in financing activities		(6,269,504	)		(5,690,795	)
NET CHANGE IN CASH		14			12,175
NET CHANGE IN CASH		(37,398	)		(87,369	)
Cash - Beginning of period		566			37,946
Cash - Beginning of period		37,946			88,247
Cash - End of period	$	580		$	50,121
Cash - End of period	$	548		$	878
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	$	-		$	-
Cash paid for taxes	$	-		$	-
Non-cash investing and financing activities:
Accretion of common stock to redemption value	$	~~707~~116,~~420~~127		$	1262,~~180,988~~269
Excise tax payable	$	73,672		$	67,218

The accompanying notes are an integral part of these unaudited condensed financial statements.

WINVEST ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

(Unaudited)

NOTE 1 – NATURE OF THE BUSINESS

WinVest Acquisition Corp. (“WinVest,” or the “Company”) was incorporated in the State of Delaware on March 1, 2021. The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination (the “Initial Business Combination”) with one or more businesses or entities. On August 30, 2024, WinVest (BVI) LTD was incorporated in the British ~~Virgin~~ Virgin Islands (“BVI”) as a wholly owned subsidiary of WinVest. The Company has selected December 31 as its fiscal year end.

Throughout this report, the terms “our,” “we,” “us,” and the “Company” refer to WinVest Acquisition Corp.

As of ~~September~~March 3031, ~~2024~~2025, the Company had not commenced core operations. All activity for the period from March 1, 2021 (inception) through ~~September~~ 30March 31, ~~2024~~2025 relates to the Company’s formation, raising funds through the initial public offering (“Initial Public Offering”), which is described below, identifying a target company for an Initial Business Combination and working to consummate an Initial Business Combination ~~with Xtribe~~ (as defined below). The Company will not generate any operating revenues until after the completion of an Initial Business Combination, at the earliest. The Company generates non-operating income in the form of interest ~~and dividend~~ income from the proceeds derived from the Initial Public Offering, and prior to the liquidation of the money market funds held in the Trust Account (as defined below) in January 2025, the Company generated dividend income on such money market funds.

The registration statement pursuant to which the Company registered its securities offered in the Initial Public Offering (the “IPO Registration Statement”) was declared effective on September 14, 2021. On September 17, 2021, the Company consummated its Initial Public Offering of 10,000,000 units (the “Units”). Each Unit consists of one share of common stock of the Company, $0.0001 par value per share (the “Common Stock”), one redeemable warrant (the “Public Warrants”), with each Public Warrant entitling the holder thereof to purchase one-half (1/2) of one share of Common Stock at an exercise price of $11.50 per whole share, subject to adjustment, and one Right (the “Rights”), with each Right entitling the holder thereof to receive one-fifteenth (1/15) of one share of Common Stock upon the consummation by the Company of an Initial Business Combination. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $100,000,000 (before underwriting discounts and commissions and offering expenses).

Simultaneously with the consummation of the Initial Public Offering and the issuance and sale of the Units, the Company completed the private sale of 10,000,000 warrants (the “Private Placement Warrants”) at a price of $0.50 per Private Placement Warrant to our sponsor, WinVest SPAC LLC (the “Sponsor”), generating gross proceeds of $5,000,000 (such sale, the “Private Placement”).

Each Private Placement Warrant entitles the holder thereof to purchase one-half of one share of Common Stock at a price of $11.50 per whole share, subject to adjustment. The Private Placement Warrants are identical to the Public Warrants.

On September 23, 2021, the underwriters fully exercised the over-allotment option and purchased an additional 1,500,000 Units (the “Over-Allotment Units”), generating gross proceeds of $15,000,000 on September 27, 2021. Accordingly, no Founder Shares (as defined below) were subject to forfeiture upon exercise of the full over-allotment. Simultaneously with the sale of Over-Allotment Units, the Company consummated a private sale of an additional 900,000 Private Placement Warrants (the “Additional Private Placement Warrants”, and together with the Public Warrants and the Private Placement Warrants, the “Warrants”) to the Sponsor at a purchase price of $0.50 per Private Placement Warrant, generating gross proceeds of $450,000. As of September 27, 2021, a total of $116,150,000 of the net proceeds from the Initial Public Offering and the sale of the Private Placement Warrants and the Additional Private Placement Warrants were deposited in a Trust Account ~~(as defined below)~~ established for the benefit of the Company’s public stockholders.

Following the closing of the Initial Public Offering on September 17, 2021, and the underwriters’ exercise of their over-allotment option in full on September 23, 2021, an aggregate amount of $116,150,000 from the Initial Public Offering and the sale of the Private Placement Warrants was placed in a trust account in the United States maintained by Continental Stock Transfer & Trust Company (“Continental”), as trustee (the “Trust Account”). The funds held in the Trust Account are invested only in United States “government securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”) having a maturity of 185 days or less, or in money market funds meeting the applicable conditions under Rule 2a-7 promulgated under the Investment Company Act and that invest solely in U.S. treasuries, so that the Company is not deemed to be an investment company under the Investment Company Act. Except with respect to interest earned on the funds held in the Trust Account that may be released to pay for the Company’s income or other tax obligations, the proceeds will not be released from the Trust Account until the earlier of the completion of the Initial Business Combination or the redemption of 100% of the outstanding shares of Common Stock issued as part of the Units sold in the Initial Public Offering (the “Public Shares”) if an Initial Business Combination has not been completed in the required time period. Any amounts not paid as consideration to the sellers of the target business may be used to finance operations of the target business.5

5Following the closing of the Initial Public Offering on September 17, 2021, and the underwriters’ exercise of their over-allotment option in full on September 23, 2021, an aggregate amount of $116,150,000 from the Initial Public Offering and the sale of the Private Placement Warrants was placed in a trust account in the United States maintained by Continental Stock Transfer & Trust Company (“Continental”), as trustee (the “Trust Account”). The funds held in the Trust Account have, since the Initial Public Offering, been held only in United States “government securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”) having a maturity of 185 days or less, in money market funds meeting the applicable conditions under Rule 2a-7 promulgated under the Investment Company Act and that invest solely in U.S. treasuries, so that the Company is not deemed to be an investment company under the Investment Company Act, or in cash. To mitigate the risk of the Company being deemed to have been operating as an unregistered investment company (including under the subjective test of Section 3(a)(1)(A) of the Investment Company Act), prior to the 24-month anniversary of the effective date of the Company’s IPO Registration Statement, the Company instructed Continental to liquidate the U.S. government treasury obligations or money market funds held in the Trust Account and thereafter to maintain all funds in the Trust Account in cash in an interest-bearing bank account. In May 2024, the funds were reinvested into money market funds and subsequently liquidated back to cash in January 2025. Except with respect to interest earned on the funds held in the Trust Account that may be released to pay for the Company’s income or other tax obligations, the proceeds will not be released from the Trust Account until the earlier of the completion of the Initial Business Combination or the redemption of 100% of the outstanding shares of Common Stock issued as part of the Units sold in the Initial Public Offering (the “Public Shares”) if an Initial Business Combination has not been completed in the required time period. Any amounts not paid as consideration to the sellers of the target business may be used to finance operations of the target business.

The Company initially had 15 months from the closing of the Initial Public Offering on September 17, 2021 to consummate the Initial Business Combination. On November 30, 2022, the Company held a special meeting of stockholders, at which the stockholders approved an amendment (the “November 2022 Extension Amendment”) to the Company’s amended and restated certificate of incorporation (as amended, the “Certificate of Incorporation”) to extend the date (the “Termination Date”) by which the Company must consummate an Initial Business Combination from December 17, 2022 (the “Original Termination Date”) to January 17, 2023, and to allow the Company, without another stockholder vote, to elect to extend the Termination Date on a monthly basis for up to five times by an additional one month each time after January 17, 2023, by resolution of the Company’s board of directors, if requested by its Sponsor, and upon five days’ advance notice prior to the applicable Termination Date, until June 17, 2023, or a total of up to six months after the Original Termination Date, unless the closing of the Initial Business Combination shall have occurred prior thereto, subject to the deposit by the Sponsor or its affiliates or designees, upon five days’ advance notice prior to the applicable deadline, of $125,000, on or prior to the date of the applicable deadline, for each one-month extension. Any such payments would be made in the form of a non-interest-bearing loan and would be repaid, if at all, from funds released to us upon completion of our Initial Business Combination.

In connection with the vote to approve the November 2022 Extension Amendment, the holders of 9,606,887 Public Shares properly exercised their right to redeem their shares (and did not withdraw their redemption) for cash at a redemption price of approximately $10.20 per share, for an aggregate redemption amount of approximately $98.0 million. Following such redemptions, approximately $19.6 million was left in the Trust Account and 1,893,113 shares remained outstanding.

Following the approval of the November 2022 Extension Amendment, on December 5, 2022, the Company issued an unsecured promissory note in the principal amount of $750,000 (the “First Extension Note”) to the Sponsor, pursuant to which the Sponsor agreed to loan to the Company up to $750,000 in connection with the extension of the Termination Date. Per the terms of the First Extension Note, funds available under such note are not restricted for use for extension payments. The First Extension Note does not bear interest and matures upon the earlier of (a) the closing of an Initial Business Combination and (b) the Company’s liquidation. In the event that the Company does not consummate an Initial Business Combination, the First Extension Note will be repaid only from amounts remaining outside of the Trust Account, if any. Upon the consummation of an Initial Business Combination, the Sponsor may elect to convert any portion or all of the amount outstanding under the First Extension Note into private warrants to purchase shares of the Company’s Common Stock at a conversion price of $0.50 per private warrant. Such private warrants will be identical to the Private Placement Warrants issued to the Sponsor at the time of the Initial Public Offering.

On June 12, 2023, the Company held a second special meeting of stockholders (the “June 2023 Extension Meeting”), at which the stockholders approved, among other things, (i) an amendment (the “June 2023 Extension Amendment”) to the Company’s Certificate of Incorporation to extend the Termination Date from June 17, 2023 to July 17, 2023, and to allow the Company, without another stockholder vote, to elect to extend the Termination Date on a monthly basis for up to five times by an additional one month (or such shorter period as may be requested by the Sponsor) after July 17, 2023, by resolution of the Company’s board of directors, if requested by the Sponsor, and upon five days’ advance notice prior to the applicable Termination Date, until December 17, 2023, or a total of up to six months after June 17, 2023, unless the closing of the Company’s Initial Business Combination shall have occurred prior thereto, and (ii) an amendment (the “Redemption Limitation Amendment”) to eliminate from the Certificate of Incorporation the limitation that the Company may not consummate any business combination unless it has net tangible assets of at least $5,000,001 upon consummation of such business combination. Following stockholder approval of the June 2023 Extension Amendment and the Redemption Limitation Amendment at the June 2023 Extension Meeting, on June 16, 2023, the Company filed the June 2023 Extension Amendment and the Redemption Limitation Amendment with the Delaware Secretary of State.

In connection with the vote to approve the June 2023 Extension Amendment, the holders of 627,684 Public Shares properly exercised their right to redeem their shares (and did not withdraw their redemption) for cash at a redemption price of approximately $10.71 per share, for an aggregate redemption amount of $6~~,721,795. Following such redemptions, $13,551,331 was left in Trust Account and 1,265,429 Public Shares remained outstanding.~~

In connection with the vote to approve the June 2023 Extension Amendment, the holders of 627,684 Public Shares properly exercised their right to redeem their shares (and did not withdraw their redemption) for cash at a redemption price of approximately $10.71 per share, for an aggregate redemption amount of $6,721,795. Following such redemptions, $13,551,331 was left in Trust Account and 1,265,429 Public Shares remained outstanding.

Following the approval of the June 2023 Extension Amendment on June 12, 2023, on June 13, 2023, the Company issued an unsecured promissory note in the principal amount of $390,000 (the “Second Extension Note”) to the Sponsor, pursuant to which the Sponsor agreed to loan to the Company up to $390,000 in connection with the extension of the Termination Date. The Second Extension Note does not bear interest and matures upon the earlier of (a) the closing of an Initial Business Combination and (b) the Company’s liquidation. In the event that the Company does not consummate an Initial Business Combination, the Second Extension Note will be repaid only from amounts remaining outside of the Trust Account, if any. Upon the consummation of an Initial Business Combination, the Sponsor may elect to convert any portion or all of the amount outstanding under the Second Extension Note into private warrants to purchase shares of the Company’s Common Stock at a conversion price of $0.50 per private warrant. Such private warrants will be identical to the Private Placement Warrants issued to the Sponsor at the time of the Initial Public Offering.

On ~~November~~ November 30, 2023, the Company held a special meeting of stockholders, at which the stockholders approved, among other things, an amendment to to the Company’s Certificate of Incorporation (the “November 2023 Extension Amendment”) to extend the Termination Date from December 17, 2023 to January 17, 2024, and to allow the Company, without another stockholder vote, to elect to extend the Termination Date on a monthly basis for up to five times by an additional one month each time after January 17, 2023, by resolution of the Company’s board of directors, if requested by the Sponsor, and upon five days’ advance notice ~~prior~~ prior to the applicable Termination Date, until June 17, 2024, or a total of up to six months after December 17, 2023, unless the closing of of the Company’s Initial Business Combination shall have occurred prior thereto, by causing $55,000 to be deposited into the Trust Account for each such extension.

In connection with the vote to approve the November 2023 Extension Amendment, the holders of 122,306 Public Shares properly exercised their right to redeem their shares (and did not withdraw their redemption) for cash at a redemption price of approximately $10.81 per share, for an aggregate redemption amount of approximately $1,322,518. Following such redemptions, 1,143,123 Public Shares remained outstanding.

Following the approval of the November 2023 Extension Amendment on November 30, 2023, on December 13, 2023, the Company issued an unsecured promissory note in the principal amount of $330,000 (the “Third Extension Note”) to the Sponsor, pursuant to which the Sponsor agreed to loan to the Company up to $330,000 in connection with the extension of the Termination Date. The Third Extension Note does not bear interest and matures upon the earlier of (a) the closing of an Initial Business Combination and (b) the Company’s liquidation. In the event that the Company does not consummate an Initial Business Combination, the Third Extension Note will be repaid only from amounts remaining outside of the Trust Account, if any.

On June 3, 2024, the Company held a special meeting of stockholders, at which the stockholders approved, among other things, an amendment to the Company’s Certificate of Incorporation (the “June 2024 Extension Amendment”) to extend the Termination Date from June 17, 2024 to July 17, 2024, and to allow the Company, without another stockholder vote, to elect to extend the Termination Date on a monthly basis for up to five times by an additional one month each time after July 17, 2024, by resolution of of the Company’s board of directors, if requested by the Sponsor, and upon five days’ advance notice prior to the applicable Termination Date, until December 17, 2024, or a total of up to six months after June 17, 2024, unless the closing of the Company’s Initial Business Combination shall have occurred prior thereto, by causing $30,000 to be deposited into the Trust Account for each such extension.

In connection with the vote to approve the June 2024 Extension Amendment, the holders of 650,790 Public Shares properly exercised their right to redeem their shares (and did not withdraw their redemption) for cash at a redemption price of approximately $11.32 per share, for an aggregate redemption amount of approximately $7,367,204. Following such redemptions, 492,333 Public Shares remained outstanding.

Following the approval of the June 2024 Extension Amendment on June 3, 2024, on June 12, 2024, the Company issued an unsecured promissory note in the principal amount of $180,000 (the “Fourth Extension Note”) to the Sponsor, pursuant to which the Sponsor agreed to loan to the Company up to $180,000 in connection with the extension of the Termination Date. The Fourth Extension Note does not bear interest and matures upon the earlier of (a) the closing of an Initial Business Combination and (b) the Company’s liquidation. In the event that the Company does not consummate an Initial Business Combination, the Fourth Extension Note will be repaid only from amounts remaining outside of the Trust Account, if any.7

7Following the approval of the June 2024 Extension Amendment on June 3, 2024, on June 12, 2024, the Company issued an unsecured promissory note in the principal amount of $180,000 (the “Fourth Extension Note”) to the Sponsor, pursuant to which the Sponsor agreed to loan to the Company up to $180,000 in connection with the extension of the Termination Date. The Fourth Extension Note does not bear interest and matures upon the earlier of (a) the closing of an Initial Business Combination and (b) the Company’s liquidation. In the event that the Company does not consummate an Initial Business Combination, the Fourth Extension Note will be repaid only from amounts remaining outside of the Trust Account, if any.

~~Through~~On ~~the~~December ~~date~~10, ~~of this report~~2024, the Company ~~has~~held ~~deposited~~a $1special meeting of stockholders,~~650,000~~ ~~into~~at which the ~~Trust~~stockholders ~~Account~~approved, inamong ~~connection~~other ~~with~~things, ~~six~~an ~~drawdowns~~amendment to ~~under~~ the ~~First~~Company’s ~~Extension~~Certificate ~~Note,~~of ~~six~~Incorporation ~~drawdowns under~~(the ~~Second~~“December 2024 Extension ~~Note,~~Amendment”) ~~six~~to ~~drawdowns~~extend ~~under~~ the ~~Third~~Termination ~~Extension~~Date from ~~Notes~~December 17, ~~and~~2024 ~~six~~to ~~drawdowns under~~January ~~the~~17, ~~Fourth~~2025, ~~Extension~~and ~~Note~~to ~~(collectively~~allow the ~~“Extension~~Company, ~~Notes”)~~without ~~pursuant~~another stockholder vote, to ~~the~~elect ~~extension~~to ofextend the Termination Date ~~to December~~on ~~17,~~a ~~2024.~~monthly ~~Such~~basis ~~amounts~~for ~~will~~up beto ~~distributed~~five ~~either~~times ~~to:~~by ~~(i)~~an ~~all~~additional ~~the~~one ~~holders~~month ofeach ~~Public~~time ~~Shares~~after ~~upon~~January 17, 2025, by resolution of the Company’s ~~liquidation~~ orboard ~~(ii)~~of ~~holders~~directors, ofif ~~such~~requested ~~shares~~by ~~who~~the ~~elect~~Sponsor, and upon five days’ advance notice prior to ~~have~~the ~~their~~applicable ~~shares~~Termination ~~redeemed~~Date, inuntil June ~~connection~~17, ~~with~~2025, (or a) ~~the~~total ~~vote~~of up to ~~approve~~six ~~the~~months ~~Charter~~after ~~Extension Amendment~~December ~~(as~~17, ~~defined~~2024, ~~below)~~unless ~~or (b)~~ the ~~consummation~~closing of anthe Company’s Initial Business Combination. shall Ashave ofoccurred ~~September~~prior 30thereto, ~~2024~~by ~~and~~causing ~~December 31, 2023,~~ $130,~~590,~~000 ~~and~~to ~~$1,195,000,~~be ~~respectively,~~deposited ~~was~~into ~~outstanding~~the ~~under~~Trust ~~the~~Account ~~Extension~~for ~~Notes~~each such extension.

IfIn ~~the~~connection ~~Company~~with isthe ~~unable~~vote to ~~consummate~~approve anthe ~~Initial~~December ~~Business~~2024 ~~Combination~~Extension ~~by the Termination Date~~Amendment, the ~~Company~~holders ~~will,~~of ~~as promptly as possible but not more than ten business days thereafter~~233,555 ~~redeem 100% of the outstanding~~ Public Shares ~~for~~properly aexercised ~~pro rata portion of the funds held~~their inright ~~the~~to ~~Trust~~redeem ~~Account,~~their ~~including~~shares ~~a pro rata portion of any interest earned on the funds held in the Trust Account~~ (~~less taxes payable~~ and updid tonot ~~$100,000~~withdraw oftheir ~~interest~~redemption) ~~to pay~~ for ~~dissolution~~cash ~~expenses),~~at ~~and~~a ~~then~~redemption ~~seek~~price toof ~~dissolve~~approximately ~~and liquidate~~$12.00 ~~However,~~per ~~the Company may not~~share, befor ~~able~~an toaggregate ~~distribute~~redemption ~~such~~amount ~~amounts as a result~~ of ~~claims~~approximately ~~of creditors which may take priority over the claims of the public stockholders~~$2,801,498. In ~~the~~Following ~~event~~such ~~of our dissolution and liquidation~~redemptions, ~~the Rights~~258,778 Public ~~Warrants~~Shares ~~and~~remained ~~Private Placement Warrants will expire and will be worthless~~outstanding.

NoFollowing ~~compensation~~the approval of ~~any~~the ~~kind~~December ~~(including~~2024 ~~finders’,~~Extension ~~consulting~~Amendment oron ~~other~~December ~~similar fees) will be paid to any of the existing officers~~10, ~~directors~~2024, ~~stockholders,~~ oron ~~any~~December ~~of their affiliates~~16, ~~prior to~~2024, orthe ~~for~~Company ~~any~~issued ~~services~~an ~~they~~unsecured ~~render~~promissory note in ~~order to effectuate,~~ the ~~consummation~~principal amount of ~~the Initial~~$180,000 ~~Business Combination~~ (~~regardless of~~ the ~~type~~“Fifth ofExtension ~~transaction~~Note”) ~~that~~to itthe ~~is). However~~Sponsor, ~~such~~pursuant to ~~individuals~~which ~~will~~the ~~receive~~Sponsor ~~reimbursement~~agreed ~~for~~to ~~any out-of-pocket~~loan ~~expenses~~to ~~incurred~~the byCompany ~~them~~up to $180,000 in connection with ~~activities on~~ the ~~Company’s~~extension ~~behalf,~~of ~~such~~the asTermination ~~identifying~~Date. ~~potential target~~The ~~businesses,~~Fifth ~~performing~~Extension ~~business~~Note ~~due~~does ~~diligence~~not onbear ~~suitable~~interest ~~target businesses~~ and ~~business~~matures ~~combinations~~upon asthe ~~well~~earlier asof ~~traveling~~(a) ~~to and from~~ the ~~offices,~~closing ~~plants~~of oran ~~similar~~Initial ~~locations~~Business ofCombination ~~prospective~~and ~~target~~(b) the ~~businesses~~Company’s toliquidation. ~~examine~~In ~~their~~the ~~operations.~~event ~~Since~~that the ~~role~~Company ofdoes ~~present~~not ~~management after~~consummate ~~the~~an Initial Business Combination ~~is uncertain~~, the ~~Company~~Fifth ~~has~~Extension Note nowill ~~ability~~be torepaid ~~determine~~only ~~what~~from ~~remuneration,~~amounts ifremaining ~~any,~~outside ~~will~~of ~~be paid to those persons after~~ the ~~Initial~~Trust ~~Business~~Account, ~~Combination~~if any.

~~Management~~On ~~intends~~June to16, ~~use~~2025, ~~any~~the ~~funds~~Company ~~available~~held ~~outside~~a special meeting of ~~the~~stockholders, ~~Trust~~at ~~Account~~which ~~for~~the ~~miscellaneous~~stockholders ~~expenses~~approved, ~~such~~among asother ~~paying~~things, ~~fees~~an amendment to ~~consultants~~the Company’s Certificate of Incorporation (the “June 2025 Extension Amendment”) to ~~assist~~ extend the ~~Company~~Termination ~~with~~Date from ~~its~~June ~~search~~17, ~~for~~2025 ato ~~target~~July ~~business~~17, 2025, and ~~for~~to ~~director~~allow ~~and~~the ~~officer~~Company, ~~liability~~without ~~insurance~~another ~~premiums~~stockholder vote, ~~with~~to ~~the~~elect ~~balance~~to ~~being~~extend ~~held~~the Termination Date inon ~~reserve~~a inmonthly ~~the~~basis ~~event~~for ~~due~~up ~~diligence~~to two times by an additional one month each time after July 17, ~~legal~~2025, ~~accounting~~by ~~and~~resolution ~~other~~of ~~expenses~~the Company’s board of ~~structuring~~directors, if requested by the Sponsor, and ~~negotiating~~upon ~~business~~five ~~combinations~~days’ ~~exceed estimates~~advance notice prior to the applicable Termination Date, asuntil September ~~well~~17, as2025, ~~for~~or ~~reimbursement~~a total of ~~any~~up ~~out-of-pocket~~to ~~expenses~~three ~~incurred~~months byafter June 17, 2025, unless the closing of the Company’s ~~insiders~~Initial Business Combination shall have occurred prior thereto, ~~officers~~by ~~and~~causing ~~directors in~~$30,000 ~~connection~~to ~~with~~be ~~activities~~deposited asinto ~~described~~the ~~below~~Trust Account for each such extension.

~~The~~In ~~allocation~~connection ~~of the net proceeds available to the Company outside of the Trust Account, along~~ with the vote ~~interest earned on the funds held in the Trust Account available~~ to ~~pay~~approve ~~for~~ the ~~Company’s~~June ~~income~~2025 ~~and~~Extension ~~other tax liabilities~~Amendment, ~~represents~~ the ~~best~~holders ~~estimate~~ of ~~the intended~~527 ~~uses~~Public ofShares ~~these~~properly ~~funds.~~exercised Intheir ~~the~~right ~~event that the Company’s assumptions prove~~ to beredeem ~~inaccurate,~~their ~~the~~shares ~~Company~~(and ~~may~~did ~~reallocate~~not ~~some~~withdraw oftheir ~~such proceeds~~redemption) ~~within~~for ~~the~~cash ~~above-described~~at ~~categories.~~a ~~If the estimate of the costs of undertaking due diligence and negotiating the Initial~~redemption ~~Business~~price ~~Combination is less than the actual amount necessary to do so, or the amount~~ of ~~interest~~approximately ~~available to the Company from the Trust~~$12.92 ~~Account~~per ~~is insufficient~~share, ~~the~~for ~~Company~~an ~~may~~aggregate beredemption ~~required to raise additional capital, the~~ amount, ~~availability and cost~~ of ~~which~~approximately ~~is currently unascertainable. In this event~~$6, ~~the Company could seek such additional capital through loans or additional investments from the Sponsor or third parties~~808. ~~The Sponsor and/or founding stockholders may, but are not obligated to, loan funds as may be required. Such loans would~~ beFollowing ~~evidenced by promissory notes that would either be paid upon consummation of the Initial Business Combination, or, with respect to certain of~~ such ~~notes~~redemptions, atapproximately ~~such lender’s discretion, converted upon consummation of the Initial Business Combination into Private Placement Warrants at a price of~~ $~~0.50 per Private Placement Warrant. However~~3,370,477 ~~the~~was ~~Sponsor and/or~~left ~~founding stockholders are under no obligation to loan the Company any funds or invest~~ in ~~the~~trust ~~Company.~~and ~~If the Company is unable to obtain the necessary funds~~258,251 ~~the~~Public ~~Company~~Shares ~~may~~remained ~~be forced to cease searching for a target business and liquidate without completing our Initial Business Combination~~outstanding.

~~The Company~~Following ~~will~~the ~~likely~~approval ~~use substantially all~~ of the ~~net~~June ~~proceeds~~2025 ofExtension ~~the~~Amendment ~~Initial~~on ~~Public~~June ~~Offering~~16, 2025, ~~the~~on June ~~Private~~16, ~~Placement~~2025, ~~and~~ the ~~sale~~Company ofissued ~~the Additional~~an ~~Private~~unsecured ~~Placement~~promissory ~~Warrants,~~note ~~including~~in the ~~funds~~principal ~~held~~amount inof ~~the Trust Account~~$90,000 ~~in connection with~~ (the ~~Initial~~“Sixth ~~Business~~Extension ~~Combination~~Note”) ~~and~~ to ~~pay~~the ~~for~~Sponsor, ~~expenses~~pursuant ~~relating~~to ~~thereto,~~which ~~including~~ the ~~deferred~~Sponsor ~~underwriting~~agreed ~~discounts~~to ~~and~~loan ~~commissions payable~~ to the ~~underwriters~~Company ~~in an~~up ~~amount equal~~ to ~~3.5%~~$90,000 ~~of the total gross proceeds raised~~ in ~~the~~connection ~~offering~~with ~~upon consummation of~~ the ~~Initial~~termination ~~Business~~date ~~Combination. To~~by ~~the~~which ~~extent that~~ the Company’s must ~~capital~~consummate ~~stock~~an isinitial ~~used~~business incombination. ~~whole~~The orNote indoes ~~part~~not asbear ~~consideration~~interest toand ~~effect~~matures upon the ~~Initial Business Combination,~~earlier ~~the~~of ~~proceeds~~(a) ~~held in~~ the ~~Trust~~closing ~~Account~~of ~~which~~a ~~are not used to consummate an Initial~~ Business Combination ~~will~~and be(b) ~~disbursed to~~ the ~~combined company~~Company’s ~~and~~liquidation. ~~will,~~In ~~along~~the ~~with~~event ~~any~~that ~~other~~the ~~net~~Company ~~proceeds~~does not ~~expended,~~consummate a beBusiness ~~used~~Combination, ~~as working capital to finance~~ the ~~operations~~Note ofwill ~~the~~be ~~target business.~~repaid ~~Such~~only ~~working~~from ~~capital~~amounts ~~funds~~remaining ~~could~~outside ~~be used in a variety~~ of ~~ways including continuing or expanding~~ the ~~target~~Trust ~~business’ operations~~Account, orif ~~for strategic acquisitions~~any.

8On September 16, 2025, the Company held a special meeting of stockholders, at which the stockholders approved, among other things, an amendment to the Company’s Certificate of Incorporation (the “September 2025 Extension Amendment”) to extend the Termination Date from September 17, 2025 to March 17, 2026, and to allow the Company, without another stockholder vote, to elect to extend the Termination Date on a monthly basis for up to five times by an additional one month each time after October 17, 2025, by resolution of the Company’s board of directors, if requested by the Sponsor, and upon five days’ advance notice prior to the applicable Termination Date, until March 17, 2026, or a total of up to six months after September 17, 2025, unless the closing of the Company’s Initial Business Combination shall have occurred prior thereto, by causing $30,000 to be deposited into the Trust Account for each such extension.

~~To the~~In ~~extent~~connection with the vote ~~Company is unable~~ to ~~consummate~~approve the anSeptember ~~Initial~~2025 ~~Business~~Extension ~~Combination~~Amendment, the ~~Company~~holders ~~will pay the costs~~ of ~~liquidation~~38,215 Public ~~from~~Shares ~~the remaining~~properly ~~assets~~exercised ~~outside~~their ofright ~~the~~to ~~Trust~~redeem ~~Account~~their shares (and ~~from~~did upnot towithdraw ~~$100,000~~their ofredemption) ~~interest~~for ~~income~~cash onat ~~the~~a ~~balance~~redemption price of ~~the~~approximately ~~Trust Account (net of~~$13.37 ~~income~~per ~~and~~share, ~~other~~for ~~tax~~an ~~obligations)~~aggregate ~~that~~redemption ~~may~~amount beof ~~released~~approximately ~~to it to pay for dissolution expenses~~$511,042. Following If such ~~funds are insufficient~~redemptions, ~~the~~approximately ~~Sponsor~~$2,967,964 ~~has~~was ~~agreed~~left toin ~~pay~~trust ~~the funds necessary to complete such liquidation~~ and ~~has~~220,036 Public ~~agreed~~Shares ~~not~~remained ~~to seek repayment of such expenses~~outstanding.

OnThrough ~~May~~the 9,date ~~2024~~of this report, the Company ~~entered~~has deposited $2,070,000 into athe ~~Business~~Trust ~~Combination~~Account ~~Agreement~~in ~~(the~~connection ~~“Original~~with ~~Business~~six ~~Combination~~drawdowns under ~~Agreement”),~~the ~~by and~~First ~~among~~Extension ~~WinVest~~Note, ~~WinVest~~six ~~Merger~~drawdowns ~~Sub~~under I,Second ~~LLC~~Extension Note, asix ~~Delaware~~drawdowns ~~limited~~under ~~liability~~the ~~company~~Third ~~and~~Extension ~~wholly~~Note, ~~owned~~six ~~subsidiary~~drawdowns under ofthe ~~WinVest,~~Forth ~~WinVest~~Extension ~~Merger Sub II~~Note, ~~LLC,~~six adrawdowns ~~Delaware~~under ~~limited~~the ~~liability~~Fifth ~~company~~Extension ~~and~~Note, ~~wholly~~three ~~owned~~drawdowns ~~subsidiary~~under ofthe ~~WinVest,~~Sixth ~~Xtribe~~Extension ~~P.L.C.~~Note, aand ~~public limited company incorporated~~five ~~and~~drawdowns ~~registered~~under inthe ~~England~~Seventh ~~and~~Extension ~~Wales~~Note ~~with~~(collectively ~~number~~the ~~07878011 (~~“~~Xtribe~~Extension ~~PLC~~Notes”), ~~and~~pursuant ~~Xtribe~~to ~~Group,~~the ~~LLC,~~extension aof ~~Delaware~~the ~~limited liability~~Termination ~~company~~Date ~~and~~to ~~wholly-owned~~February ~~subsidiary~~17, ~~of Xtribe PLC~~2026. OnSuch ~~September~~amounts ~~16,~~will ~~2024,~~be ~~the~~distributed ~~Company~~either ~~entered~~to: ~~into~~(i) anall ~~Amended~~the ~~and~~holders ~~Restated~~of ~~Business~~Public ~~Combination Agreement~~Shares (upon the ~~“A&R~~Company’s liquidation ~~Business~~or ~~Combination Agreement”~~(ii), byholders ~~and~~of ~~among~~such ~~WinVest,~~shares ~~WinVest~~who ~~(BVI)~~elect ~~Ltd.,~~to ahave ~~British~~their ~~Virgin~~shares ~~Islands business~~redeemed ~~company~~in ~~registered~~connection with ~~company~~(a) ~~number~~a ~~2157117~~vote ~~and~~to aapprove ~~wholly~~certain ~~owned~~specified amendments ~~subsidiary~~to ofthe ~~WinVest,~~Company’s ~~Xtribe~~Certificate ~~PLC~~of ~~and~~Incorporation ~~Xtribe~~or (~~BVI~~b) ~~Ltd.,~~the ~~a British~~consummation ~~Virgin~~of ~~Islands~~an ~~business~~Initial ~~company~~Business ~~registered~~Combination. ~~with~~As ~~company~~of ~~number~~March 31, ~~2157137~~2025 and aDecember ~~wholly-owned~~31, ~~subsidiary~~2024, of$1,770,000 ~~Xtribe PLC (together~~and ~~with Xtribe PLC~~$1, ~~“Xtribe”)~~680,000, respectively, ~~which~~was ~~amends~~outstanding ~~and~~under ~~restates~~ the ~~Original~~Extension ~~Business Combination Agreement in its entirety~~Notes.

~~Risks~~If the Company is unable to consummate an Initial Business Combination by the Termination Date, the Company will, as promptly as possible but not more than ten business days thereafter, redeem 100% of the outstanding Public Shares for a pro rata portion of the funds held in the Trust Account, including a pro rata portion of any interest earned on the funds held in the Trust Account (less taxes payable and ~~Uncertainties~~up to $100,000 of interest to pay for dissolution expenses), and then seek to dissolve and liquidate. However, the Company may not be able to distribute such amounts as a result of claims of creditors which may take priority over the claims of the public stockholders. In the event of our dissolution and liquidation, the Rights, Public Warrants and Private Placement Warrants will expire and will be worthless.

~~On August~~No ~~16,~~compensation ~~2022, the Inflation Reduction Act~~ of ~~2022~~any kind (~~the~~including ~~“IR Act”) was signed into federal law. The IR Act provides for~~finders’, ~~among~~consulting other things, a new U.S. federal 1% excise tax on certain repurchases of stock by publicly traded U.S. domestic corporations and certain U.S. domestic subsidiaries of publicly traded foreign corporations occurring on or ~~after~~other ~~January~~similar 1,fees) ~~2023.~~will ~~The~~be ~~excise~~paid ~~tax~~to isany ~~imposed on the repurchasing corporation itself, not its shareholders from which shares are repurchased. The amount~~ of the ~~excise~~existing ~~tax is generally 1% of the fair market value of the shares repurchased at the time of the repurchase. However~~officers, ~~for purposes of calculating the excise tax~~directors, ~~repurchasing corporations are permitted to net the fair market value of certain new stock issuances against the fair market value of stock repurchases during the same taxable year. In addition~~stockholders, certain exceptions apply to the excise tax. The U.S. Department of the Treasury (the “Treasury Department”) has been given authority to provide regulations and other guidance to carry out and prevent the abuse or ~~avoidance~~any of ~~the~~their ~~excise tax. Any share redemption or other share repurchase that occurs after December 31~~affiliates, ~~2022,~~prior ~~in connection with a business combination~~to, ~~extension vote~~ or ~~otherwise,~~for ~~may~~any beservices ~~subject~~they torender ~~the~~in ~~excise~~order ~~tax. Whether and~~ to ~~what extent the Company would be subject to the excise tax in connection with a business combination~~effectuate, ~~extension vote or otherwise will depend on a number of factors, including (i)~~ the ~~fair~~consummation ~~market value~~ of the ~~redemptions and repurchases in connection with the~~ Initial Business Combination~~, extension~~ ~~or otherwise,~~ (~~ii)~~regardless ~~the structure~~ of ~~a business combination, (iii)~~ the ~~nature and amount~~ type of ~~any~~transaction ~~“PIPE”~~that ~~(Private Investment~~it ~~in Public Entity~~is). orHowever, ~~other~~such ~~equity~~individuals ~~issuances~~will inreceive ~~connection~~reimbursement ~~with~~for aany ~~business~~out-of-pocket ~~combination~~expenses ~~(or~~incurred ~~otherwise~~by ~~issued~~them ~~not~~ in connection with aactivities ~~business~~on ~~combination~~the ~~but~~Company’s ~~issued~~behalf, ~~within~~such ~~the~~as ~~same~~identifying ~~taxable~~potential ~~year~~target ofbusinesses, aperforming business ~~combination)~~due ~~and~~diligence ~~(iv)~~on ~~the~~suitable target ~~content~~businesses ~~of regulations~~ and ~~other~~ ~~guidance~~business ~~from~~combinations ~~the~~as ~~Treasury~~well ~~Department.~~as Intraveling ~~addition,~~to ~~because the excise tax would be payable by the Company~~ and ~~not~~from by the ~~redeeming holder~~offices, ~~the~~plants ~~mechanics~~or ofsimilar ~~any~~locations ~~required payment~~ of ~~the~~prospective ~~excise~~target businesses ~~tax~~to ~~have~~examine ~~not~~their ~~been determined~~operations. ~~The~~Since ~~foregoing could cause a reduction in~~ the ~~cash~~ ~~available~~role onof ~~hand~~present tomanagement ~~complete~~after ~~a business combination and in~~ the ~~Company’s~~Initial ~~ability~~Business toCombination ~~complete~~is auncertain, ~~business combination. The~~the Company ~~will~~has ~~not~~no ~~use~~ability ~~the~~to ~~proceeds~~determine ~~placed~~what inremuneration, ~~the~~if ~~Trust Account and the interest earned thereon to pay~~ any, ~~excise~~will ~~taxes that may~~ be ~~imposed on~~paid ~~it pursuant~~ to ~~any~~those ~~current,~~persons ~~pending~~after ~~or future rules or laws, including without limitation any excise tax imposed under~~ the IRInitial ~~Act, on~~Business ~~any redemptions or stock buybacks by the Company~~Combination.

~~In June~~Management ~~2023,~~intends ~~the~~to ~~Company’s~~use ~~stockholders~~any ~~redeemed~~funds ~~627,684~~available ~~Public Shares for a total~~ outside of ~~$6,721,795. In November 2023,~~ the ~~Company’s stockholders~~Trust ~~redeemed~~Account ~~122,306~~for ~~Public~~miscellaneous ~~Shares~~expenses ~~for~~such aas ~~total~~paying offees ~~$1,322,518.~~to ~~In June~~consultants ~~2024,~~to assist the Company’s ~~stockholders~~with ~~redeemed~~its ~~650,790~~search ~~Public Shares~~ for a ~~total of $7,367,204. The~~target ~~Company~~business ~~evaluated~~and ~~the~~for ~~classification~~director and ~~accounting~~officer ofliability ~~the~~insurance ~~stock redemption under Accounting Standards Codification (“ASC”) Topic 450~~premiums, ~~Contingencies~~with ~~(“ASC~~the ~~450”).~~balance ~~ASC~~being ~~450~~held ~~states~~in ~~that~~reserve ~~when~~in ~~a loss contingency exists~~ the ~~likelihood~~event ~~that~~due ~~the future event~~diligence, ~~will~~legal, ~~confirm~~accounting ~~the~~and ~~loss~~other orexpenses ~~impairment~~ of anstructuring asset or the incurrence of a liability can range from probable to remote. A contingent liability must be reviewed at each reporting period to determine appropriate treatment. The Company evaluated the current status and ~~probability of~~negotiating ~~completing a~~ business ~~combination~~combinations asexceed ~~of September 30~~estimates, ~~2024~~as ~~and~~well ~~December~~as ~~31,~~for ~~2023 and determined that a contingent liability should~~reimbursement beof ~~calculated~~any ~~and recorded. As~~ out-of-pocket ~~September~~expenses ~~30,~~incurred ~~2024~~by ~~and December 31, 2023,~~ the Company’s ~~recorded $154~~insiders,~~115~~ officers and ~~$80,443,~~directors ~~respectively, of~~in ~~excise~~connection ~~tax~~with ~~liability~~activities ~~calculated~~ as ~~1% of total shares redeemed~~described below.

9The allocation of the net proceeds available to the Company outside of the Trust Account, along with the interest earned on the funds held in the Trust Account available to pay for the Company’s income and other tax liabilities, represents the best estimate of the intended uses of these funds. In the event that the Company’s assumptions prove to be inaccurate, the Company may reallocate some of such proceeds within the above-described categories. If the estimate of the costs of undertaking due diligence and negotiating the Initial Business Combination is less than the actual amount necessary to do so, or the amount of interest available to the Company from the Trust Account is insufficient, the Company may be required to raise additional capital, the amount, availability and cost of which is currently unascertainable. In this event, the Company could seek such additional capital through loans or additional investments from the Sponsor or third parties. The Sponsor and/or founding stockholders may, but are not obligated to, loan funds as may be required. Such loans would be evidenced by promissory notes that would either be paid upon consummation of the Initial Business Combination, or, with respect to certain of such notes, at such lender’s discretion, converted upon consummation of the Initial Business Combination into Private Placement Warrants at a price of $0.50 per Private Placement Warrant. However, the Sponsor and/or founding stockholders are under no obligation to loan the Company any funds or invest in the Company. If the Company is unable to obtain the necessary funds, the Company may be forced to cease searching for a target business and liquidate without completing our Initial Business Combination.

During the second quarter of 2024, the IRS issued final regulations with respect to the timing and payment of the excise tax. The Company is currently evaluating its options with respect to payment of this obligation.8

~~Use~~The Company will likely use substantially all of the net proceeds of ~~Funds~~the ~~Restricted~~Initial Public Offering, the Private Placement and the sale of the Additional Private Placement Warrants, including the funds held in the Trust Account, in connection with the Initial Business Combination and to pay for ~~Payment~~expenses relating thereto, including the deferred underwriting discounts and commissions payable to the underwriters in an amount equal to 3.5% of ~~Taxes~~the total gross proceeds raised in the offering upon consummation of the Initial Business Combination. To the extent that the Company’s capital stock is used in whole or in part as consideration to effect the Initial Business Combination, the proceeds held in the Trust Account which are not used to consummate an Initial Business Combination will be disbursed to the combined company and will, along with any other net proceeds not expended, be used as working capital to finance the operations of the target business. Such working capital funds could be used in a variety of ways including continuing or expanding the target business’ operations or for strategic acquisitions.

~~In February~~To ~~2024,~~the extent the Company ~~withdrew~~is ~~$40,050~~unable ofto ~~interest~~consummate an ~~and~~Initial ~~dividend~~Business ~~income~~Combination, ~~earned on~~ the ~~Trust~~Company ~~Account~~will ~~and~~pay ~~received~~the acosts ~~tax~~of ~~refund~~liquidation ~~of $104,305~~from ~~that~~the ~~was~~remaining ~~previously~~assets ~~paid~~outside ~~with~~of the ~~interest~~Trust Account and ~~dividend~~from ~~income~~up ~~earned~~to on$100,000 ~~the~~of ~~Trust~~interest ~~Account.~~income ~~Such~~on ~~amounts~~the ~~were~~balance ~~restricted for payment~~ of the ~~Company’s~~Trust ~~tax~~Account ~~liabilities~~(net asof ~~provided~~income inand ~~the~~other ~~Company’s~~tax ~~charter.~~obligations) ~~During~~that ~~the~~may ~~first~~be ~~quarter~~released to ofit ~~2024,~~to ~~approximately $90,000~~pay offor ~~these~~dissolution ~~funds~~expenses. ~~were~~If ~~inadvertently~~such ~~used~~funds ~~for~~are insufficient, the ~~payments~~Sponsor ofhas ~~general~~agreed ~~operating~~to ~~expenses.~~pay ~~The~~the ~~Sponsor~~funds ~~replenished~~necessary ~~$90,000~~ to ~~the~~complete such ~~Company’s~~liquidation ~~operating~~and ~~account~~has inagreed ~~the~~not ~~form~~to ofseek arepayment ~~working~~of ~~capital~~such ~~loan~~expenses.

~~During~~On May 9, 2024, the Company entered into a Business Combination Agreement (the ~~second~~“Original ~~quarter~~Business Combination Agreement”), by and among the Company, WinVest Merger Sub I, LLC, a Delaware limited liability company and wholly owned subsidiary of ~~2024~~WinVest, ~~approximately~~WinVest ~~$174~~Merger Sub II,~~000~~ LLC, a Delaware limited liability company and wholly owned subsidiary of ~~interest~~WinVest, Xtribe P.L.C., a public limited company incorporated and registered ~~dividend~~in ~~income~~England ~~earned~~and onWales with number 07878011 (“Xtribe PLC”), and Xtribe Group, LLC, a Delaware limited liability company and wholly-owned subsidiary of Xtribe PLC. On September 16, 2024, the ~~Trust~~Company ~~Account~~entered ~~was~~into ~~withdrawn~~an Amended and ~~inadvertently~~Restated Business ~~used~~Combination ~~for~~Agreement (the ~~payments~~“A&R Business Combination Agreement”), by and among the Company, WinVest (BVI) Ltd., a British Virgin Islands business company registered with company number 2157117 and a wholly owned subsidiary of ~~general~~WinVest, ~~operating~~Xtribe ~~expenses~~PLC and Xtribe (BVI) Ltd., ~~The~~a ~~Company’s~~British ~~initial~~Virgin Islands business ~~combination~~company ~~target~~registered with company number 2157137 and a wholly-owned subsidiary of Xtribe PLC (together with Xtribe PLC, “Xtribe”), ~~has~~which ~~agreed~~amends toand ~~replenish~~restates the Original Business Combination Agreement in its entirety. In connection with the Initial Business Combination, the Company’s, ~~operating~~WinVest ~~account~~(BVI) ~~for~~Ltd. ~~approximately~~and Xtribe ~~$174~~(BVI) Ltd. have filed a registration statement on Form F-4,~~000~~ which was declared effective by the Securities and Exchange Commission (the “SEC”) on March 31, 2025, and which includes a proxy statement/prospectus (as amended or supplemented from time to time, the “Proxy Statement/Prospectus”) relating to the Initial Business Combination. The Company will call a special meeting of stockholders in order to vote on the proposals described in the Proxy Statement/Prospectus.

~~Going~~During 2025, the Company ceased its efforts to consummate the previously announced business combination with Xtribe, and on December 2, 2025, the Company terminated the A&R Business ~~Concern~~Combination Agreement.

~~As of~~On ~~September 30~~December 2, ~~2024~~2025, ~~the~~WinVest ~~Company~~Acquisition ~~had $548 in its operating bank account and a working capital deficit of $4,928,551~~Corp. ~~The~~entered ~~Company’s liquidity~~into ~~needs prior to the consummation of the Initial Public Offering have been satisfied through proceeds from advances from~~ a ~~related party,~~Business ~~the~~Combination ~~Sponsor,~~Agreement ~~and~~with ~~from~~WinVest ~~the~~Holdings ~~issuance of Common Stock~~Corp. ~~Subsequent to the consummation of the Initial Public Offering~~, ~~liquidity~~WinVest ~~has been~~Merger ~~satisfied~~Sub ~~through~~I ~~the net proceeds from the consummation of the Initial Public Offering~~Limited, ~~the proceeds from the Sponsor’s purchase~~ ofWV ~~Private~~Merger ~~Placement~~Sub ~~Warrants~~II ~~held outside of our Trust Account and loans from the Sponsor~~Corp. ~~For the nine months ended September 30~~, ~~2024, the~~a ~~Company~~Delaware ~~had~~corporation and a ~~net~~wholly-owned ~~loss~~subsidiary of $1Pubco,~~430,395~~ and ~~expenses~~Embed ~~from~~Financial ~~operating~~Group ~~activities~~Cayman ~~were $1,724,753, mainly due to costs associated with professional services, including legal, financial reporting, accounting and auditing compliance expenses~~Holdings. The ~~Company intends to use~~ ~~the~~Business ~~funds~~Combination ~~held~~was ~~outside~~not ~~the~~yet ~~Trust~~consummated ~~Account,~~as inof ~~addition to additional funds that~~ the ~~Company~~date ~~may~~of ~~borrow~~this ~~under the October 2023 Promissory Note (as defined below), primarily to pay corporate~~ filing. ~~and~~Refer ~~compliance expenses, evaluate target businesses, perform business due diligence on prospective target businesses, travel~~ to ~~and from~~ the ~~offices,~~Company’s ~~plants~~Form or8-K ~~similar~~filed ~~locations~~on ofDecember ~~prospective target businesses or their representatives or owners~~2, ~~review corporate documents and material agreements of prospective target businesses and structure,~~ ~~negotiate~~2025 ~~and complete an Initial Business Combination. Per the terms of the Extension Notes, funds available under such notes are not restricted~~ for ~~use for extension payments. The Company believes it will need to access~~ additional ~~liquidity in order to consummate an Initial Business Combination~~information.

~~The accompanying~~Risks ~~financial statements have been prepared on the basis that the Company will continue as a going concern, which assumes the realization of assets~~ and the satisfaction of liabilities in the normal course of business. As of September 30, 2024, the Company had not commenced any operations. All activity for the period from March 1, 2021 (inception) through September 30, 2024 relates to the Company’s formation, the Initial Public Offering, identifying a target company for an Initial Business Combination and working to consummate an Initial Business Combination with Xtribe. The Company will not generate any operating revenues until after the completion of the Initial Business Combination, at the earliest. The Company generates non-operating income in the form of interest and dividend income on cash and cash equivalents and marketable securities from the proceeds derived from the Initial Public Offering. The Company’s ability to commence operations is contingent upon consummating a business combination. Management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering, although substantially all of the net proceeds are intended to be applied generally toward consummating a business combination. Although management has been successful to date in raising necessary funding, there can be no assurance that any required future financing can be successfully completed. Additionally, the Company does not currently have sufficient working capital. Furthermore, the Company’s ability to consummate an Initial Business Combination within the contractual time period is uncertain. The Company currently has until December 17, 2024 to consummate the Initial Business Combination. The Company will not be able to consummate an Initial Business Combination by December 17, 2024. Based on these circumstances, management has determined that there is substantial doubt about the Company’s ability to continue as a going concern due to the uncertainty of liquidity requirements and the mandatory liquidation date within one year.Uncertainties

10On August 16, 2022, the Inflation Reduction Act of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for, among other things, a new U.S. federal 1% excise tax on certain repurchases of stock by publicly traded U.S. domestic corporations and certain U.S. domestic subsidiaries of publicly traded foreign corporations occurring on or after January 1, 2023. The excise tax is imposed on the repurchasing corporation itself, not its shareholders from which shares are repurchased. The amount of the excise tax is generally 1% of the fair market value of the shares repurchased at the time of the repurchase. However, for purposes of calculating the excise tax, repurchasing corporations are permitted to net the fair market value of certain new stock issuances against the fair market value of stock repurchases during the same taxable year. In addition, certain exceptions apply to the excise tax. The U.S. Department of the Treasury (the “Treasury Department”) has been given authority to provide regulations and other guidance to carry out and prevent the abuse or avoidance of the excise tax. Any share redemption or other share repurchase that occurs after December 31, 2022, in connection with a business combination, extension vote or otherwise, may be subject to the excise tax. Whether and to what extent the Company would be subject to the excise tax in connection with a business combination, extension vote or otherwise will depend on a number of factors, including (i) the fair market value of the redemptions and repurchases in connection with the Initial Business Combination, extension or otherwise, (ii) the structure of a business combination, (iii) the nature and amount of any “PIPE” (Private Investment in Public Entity) or other equity issuances in connection with a business combination (or otherwise issued not in connection with a business combination but issued within the same taxable year of a business combination) and (iv) the content of regulations and other guidance from the Treasury Department. In addition, because the excise tax would be payable by the Company and not by the redeeming holder, the mechanics of any required payment of the excise tax have not been determined. The foregoing could cause a reduction in the cash available on hand to complete a business combination and in the Company’s ability to complete a business combination. The Company will not use the proceeds placed in the Trust Account and the interest earned thereon to pay any excise taxes that may be imposed on it pursuant to any current, pending or future rules or laws, including without limitation any excise tax imposed under the IR Act, on any redemptions or stock buybacks by the Company.

Management’s plan to address the December 17, 2024 liquidation is to seek stockholder approval for, and to file, an amendment to the Certificate of Incorporation extending the Company’s current Termination Date, among other things. Pursuant to a preliminary proxy statement filed with the Securities and Exchange Commission (“SEC”) on November 1, 2024, the Company is proposing to amend its Certificate of Incorporation to extend the Termination Date from December 17, 2024 to January 17, 2025 (the “Charter Extension Date”) upon the deposit into the Trust Account of $30,000, to be loaned to the Company by the Sponsor or one or more of its affiliates, members or third-party designees, and to allow the Company, without another stockholder vote, to elect to extend the Termination Date on a monthly basis for up to five times by an additional one month period each after the Charter Extension Date (each, an “Additional Extension”), by resolution of the Company’s board of directors, if requested by the Company’s Sponsor, and upon five days’ advance notice prior to the applicable Termination Date, until June 17, 2025, or a total of up to six months after December 17, 2024, unless the closing of an Initial Business Combination shall have occurred prior thereto, subject to the deposit of an additional $30,000 per Additional Extension into the Trust Account by the Sponsor or its affiliates, members or third-party designees.9

~~NOTE~~In June 2023, the Company’s stockholders redeemed 627,684 Public Shares for a total of $6,721,795. In November 2023, the Company’s stockholders redeemed 122,306 Public Shares for a total of $1,322,518. In June 2024, the Company’s stockholders redeemed 650,790 Public Shares for a total of $7,367,204. In December 2024, the Company’s stockholders redeemed 233,555 Public Shares for a total of $2,801,498. The –Company ~~SUMMARY~~evaluated OFthe ~~SIGNIFICANT~~classification ~~ACCOUNTING~~and ~~POLICIES~~accounting ~~AND~~of ~~NEW~~the ~~ACCOUNTING~~stock ~~STANDARDS~~redemption under Accounting Standards Codification (“ASC”) Topic 450, Contingencies (“ASC 450”). ASC 450 states that when a loss contingency exists the likelihood that the future event will confirm the loss or impairment of an asset or the incurrence of a liability can range from probable to remote. A contingent liability must be reviewed at each reporting period to determine appropriate treatment. The Company evaluated the current status and probability of completing a business combination as of March 31, 2025 and December 31, 2024 and determined that a contingent liability should be calculated and recorded. As of March 31, 2025 and December 31, 2024, the Company recorded $182,130 of excise tax liability calculated as 1% of total shares redeemed.

~~Basis~~ Use of ~~Presentation~~Funds Restricted for Payment of Taxes

~~The accompanying~~In ~~unaudited~~February ~~condensed~~2024, ~~financial~~the ~~statements~~Company ~~have~~withdrew ~~been~~$40,050 ~~prepared~~of interest and ~~presented~~dividend inincome ~~accordance~~earned ~~with~~on ~~U.S.~~the ~~GAAP~~Trust Account and ~~pursuant~~received toa tax refund of $104,305 that was previously paid with the ~~rules~~ interest and ~~regulations~~dividend ofincome earned on the ~~SEC~~Trust Account. InSuch ~~the~~amounts ~~opinion~~were ofrestricted ~~management,~~for ~~these~~payment ~~unaudited~~of ~~condensed~~the ~~financial~~Company’s ~~statements~~tax ~~include~~liabilities ~~all~~as ~~adjustments~~provided ~~necessary~~in ~~for~~the aCompany’s ~~fair~~charter. ~~statement~~During of the ~~financial~~first ~~position~~quarter of 2024, ~~results~~approximately $90,000 of ~~operations~~these ~~and~~funds ~~cash~~were ~~flows~~inadvertently used for the payments of general operating expenses. The Sponsor replenished $90,000 to the Company,’s ~~and~~operating account in the ~~adjustments~~form ~~are~~ of a ~~normal~~working capital ~~and recurring nature~~loan.

~~Unaudited~~During the second quarter of 2024, approximately ~~Interim~~$174,000 ~~Financial~~of ~~Statements~~interest and dividend income earned on the Trust Account was withdrawn and inadvertently used for the payments of general operating expenses.

~~In the~~Going opinion of the Company, the unaudited financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of September 30, 2024, and its results of operations for the three and nine months ended September 30, 2024.Concern

~~The accompanying~~As ~~unaudited~~of ~~condensed~~March ~~financial~~31, ~~statements~~2025, ~~should~~the beCompany ~~read~~had $580 in ~~conjunction~~its operating ~~with~~bank ~~the~~account and a working capital deficit of $6,637,935. The Company’s ~~Annual~~liquidity ~~Report~~needs onprior ~~Form~~to ~~10-K for~~ the ~~year~~consummation ~~ended~~of ~~December~~the Initial ~~31,~~Public ~~2023,~~Offering ashave ~~filed~~been ~~with~~satisfied ~~the~~through ~~SEC~~proceeds onfrom ~~April~~advances ~~15,~~from ~~2024,~~a ~~which~~related ~~contains~~party, the ~~audited~~Sponsor, ~~financial~~and ~~statements~~from ~~and~~the ~~notes~~issuance of ~~thereto~~Common Stock. ~~The~~Subsequent ~~financial~~to ~~information~~the asconsummation of ~~December~~the ~~31,~~Initial ~~2023~~Public Offering, isliquidity ~~derived~~has been satisfied through the net proceeds from the consummation of the ~~audited~~Initial ~~financial~~Public ~~statements~~Offering, ~~presented~~the inproceeds from the ~~Company~~Sponsor’s purchase of Private Placement Warrants held outside ~~Annual~~of ~~Report~~our onTrust ~~Form~~Account ~~10-K~~and ~~for~~loans from the ~~year~~Sponsor. For the three months ended ~~December~~March 31, ~~2023.~~2025, ~~The~~the ~~interim~~Company ~~results~~had ~~for~~a ~~the~~net ~~three~~loss of $708,544 and expenses ~~nine~~from ~~months~~operating ~~ended~~activities ~~September~~were 30$730,258, mainly due to costs associated with professional services, including legal, financial ~~2024~~reporting, ~~are~~accounting ~~not~~and ~~necessarily~~auditing ~~indicative~~compliance ofexpenses. The Company intends to use the ~~results~~funds held outside the Trust Account, in addition to beadditional ~~expected~~funds ~~for~~that the ~~year~~Company ~~ending~~may ~~December~~borrow 31under the January 2025 Promissory Note (as defined below), ~~2024~~primarily to pay corporate filing and compliance expenses, evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses and structure, negotiate and complete an Initial Business Combination. Per the terms of the Extension Notes, funds available under such notes are not restricted for ~~any~~use ~~future~~for ~~interim~~extension ~~periods~~payments. The Company believes it will need to access additional liquidity in order to consummate an Initial Business Combination.

1110

~~Emerging~~The accompanying financial statements have ~~Growth~~been prepared on the basis that the Company will continue as a going concern, which assumes the realization of assets and the satisfaction of liabilities in the normal course of business. As of March 31, 2025, the Company had not commenced any operations. All activity for the period from March 1, 2021 (inception) through March 31, 2025 relates to the Company’s formation, the Initial Public Offering, identifying a target company for an Initial Business Combination and working to consummate an Initial Business Combination. The Company will not generate any operating revenues until after the completion of the Initial Business Combination, at the earliest. The Company generates non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Initial Public Offering, and prior to the liquidation of the money market funds held in the Trust Account in January 2025, the Company generated dividend income on such money market funds. The Company’s ability to commence operations is contingent upon consummating a business combination. Management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering, although substantially all of the net proceeds are intended to be applied generally toward consummating a business combination. Although management has been successful to date in raising necessary funding, there can be no assurance that any required future financing can be successfully completed. Additionally, the Company does not currently have sufficient working capital. Furthermore, the Company’s ability to consummate an Initial Business Combination within the contractual time period is uncertain. The Company currently has until February 17, 2025 to consummate the Initial Business Combination. Based on these circumstances, management has determined that there is substantial doubt about the Company’s ability to continue as a going concern due to the uncertainty of liquidity requirements and the mandatory liquidation date within one year.

~~The Company~~NOTE ~~is an “emerging growth company,” as defined in Section~~ 2~~(a)~~ of– ~~the~~SUMMARY ~~Securities~~OF ~~Act~~SIGNIFICANT ofACCOUNTING ~~1933,~~POLICIES asAND ~~amended~~NEW ~~(the “Securities~~ACCOUNTING Act”), as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.STANDARDS

~~Use~~ Basis of ~~Estimates~~Presentation

The ~~preparation~~ ofaccompanying unaudited condensed financial statements have been prepared and presented in ~~conformity~~accordance with U.S. GAAP ~~requires~~and ~~the~~pursuant ~~Company’s management~~ to ~~make estimates~~the rules and ~~assumptions~~regulations ~~that~~of ~~affect~~ the ~~reported~~SEC. ~~amounts~~In the opinion of management, ~~assets~~these ~~and~~unaudited ~~liabilities~~condensed ~~and~~financial ~~disclosure~~statements ofinclude ~~contingent~~all ~~assets~~adjustments ~~and~~necessary ~~liabilities at~~for ~~the~~a ~~date~~fair statement of the financial ~~statements~~position, results ~~and~~of ~~the~~operations ~~reported~~and ~~amounts~~cash flows of ~~revenues~~the Company, and ~~expenses~~the ~~during~~adjustments ~~the~~are ~~reporting~~of ~~period~~a normal and recurring nature.

~~Making estimates~~Unaudited ~~requires~~Interim ~~management~~Financial to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.Statements

~~Cash~~In the opinion of the Company, the unaudited financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of March 31, 2025, and ~~cash~~its ~~equivalents~~results of operations for the three months ended March 31, 2025.

The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s ~~considers~~Annual ~~all~~Report ~~short~~on Form 10-~~term~~K ~~investments~~for the year ended December 31, 2024, as filed with the anSEC ~~original~~on ~~maturity~~March of6, ~~three~~2025, ~~months~~which orcontains ~~less~~the ~~when~~audited ~~purchased~~financial tostatements beand ~~cash~~notes ~~equivalents~~thereto. The financial information as of December 31, 2024, is derived from the audited financial statements presented in the Company’s ~~did~~Annual ~~not~~Report ~~have~~on ~~any~~Form ~~cash~~10-K ~~equivalents~~for asthe ofyear ~~September~~ended December 3031, 2024. ~~and~~The interim results for the three months ended March 31, 2025, are not necessarily indicative of the results to be expected for the year ending December 31, ~~2023~~2025, or for any future interim periods.

~~Cash Held~~Emerging inGrowth ~~Trust Account~~Company

~~Following the~~The ~~closing~~Company ofis ~~the~~an ~~Initial~~“emerging ~~Public~~growth ~~Offering~~company,” as ondefined ~~September~~in ~~17,~~Section ~~2021,~~2(a) ~~and~~of the ~~underwriters’~~Securities ~~exercise~~Act of ~~their~~1933, ~~over-allotment~~as ~~option in~~amended ~~full~~(the on“Securities ~~September 23~~Act”), ~~2021,~~as anmodified ~~aggregate~~by ~~amount~~the ofJumpstart Our ~~$116,150,000~~Business ~~from~~Startups ~~the~~Act ~~Initial~~of ~~Public~~2012 ~~Offering~~(the “JOBS Act”), and ~~the~~it ~~sale~~may take advantage of ~~the~~certain ~~Private~~exemptions ~~Placement~~from various reporting ~~Warrants~~requirements ~~was~~that ~~placed~~are inapplicable ~~the~~to ~~Trust~~other ~~Account~~public ~~and~~companies ~~may~~that beare ~~invested~~not ~~only~~emerging ingrowth ~~U.S.~~companies ~~government~~including, ~~securities~~but ~~with~~not alimited ~~maturity~~to, ofnot ~~185~~being required ~~days~~to orcomply ~~less, in~~with ~~money~~the ~~market~~auditor ~~funds~~attestation ~~meeting~~requirements ~~certain~~of ~~conditions~~Section ~~under~~404 ~~Rule~~of 2athe Sarbanes-7Oxley ~~under~~Act ~~the~~of ~~Investment~~2002, ~~Company~~reduced ~~Act~~disclosure ~~which~~obligations regarding ~~invest~~executive ~~only~~compensation in ~~direct~~its ~~U.S.~~periodic ~~government treasury~~reports ~~obligations~~and orproxy instatements, ~~cash.~~and Toexemptions ~~mitigate~~from the ~~risk~~requirements of ~~the~~holding ~~Company~~a ~~being~~nonbinding advisory ~~deemed~~vote toon ~~have~~executive ~~been~~compensation ~~operating~~and asstockholder anapproval ~~unregistered~~of ~~investment company~~any ~~(including~~golden ~~under~~parachute ~~the~~payments ~~subjective~~not ~~test~~previously ofapproved. ~~Section~~Further, 3Section 102(ab)(1)~~(A)~~ of the ~~Investment~~JOBS ~~Company~~ Act), ~~prior~~exempts toemerging ~~the~~growth ~~24-month~~companies ~~anniversary of~~from ~~the~~being ~~effective~~required ~~date~~to ofcomply ~~the~~with ~~Company’s~~new ~~IPO~~or ~~Registration~~revised ~~Statement,~~financial ~~the~~accounting ~~Company~~standards until ~~instructed~~private ~~Continental~~companies to(that ~~liquidate~~is, ~~the~~those ~~U.S.~~that ~~government treasury~~have ~~obligations~~not orhad ~~money~~a ~~market~~Securities ~~funds~~Act ~~held~~registration instatement ~~the~~declared ~~Trust~~effective ~~Account~~or ~~and~~do ~~thereafter~~not tohave ~~maintain~~a class ~~all~~of ~~funds~~securities inregistered under the ~~Trust~~Securities ~~Account~~Exchange inAct ~~cash in~~of an1934, ~~interest-bearing~~as ~~bank~~amended ~~account.~~(the ~~The~~“Exchange ~~funds~~Act”)) ~~were~~are ~~reinvested~~required ~~into~~to comply ~~money~~with ~~market~~the ~~funds~~new inor ~~May~~revised ~~2024~~financial accounting standards. The ~~Trust~~JOBS ~~Account~~Act isprovides ~~intended~~that as a ~~holding~~company ~~place~~can ~~for~~elect ~~funds~~to ~~pending~~opt out of the ~~earliest~~extended transition toperiod ~~occur~~and ~~of:~~comply ~~(i)~~with the ~~completion~~requirements ofthat ~~the~~apply ~~Initial~~to ~~Business~~non-emerging ~~Combination;~~growth ~~(ii)~~companies ~~the~~but ~~redemption of~~ any ~~Public~~such ~~Shares~~election ~~properly~~to ~~submitted~~opt inout ~~connection~~is ~~with~~irrevocable. The aCompany ~~stockholder~~has ~~vote~~elected not to ~~amend~~opt ~~the~~out ~~Company’s~~of ~~Certificate~~such ofextended ~~Incorporation (A)~~transition toperiod ~~modify~~which ~~the~~means ~~substance~~that orwhen ~~timing~~a ofstandard ~~the~~is ~~Company’s~~issued ~~obligation~~or torevised ~~redeem~~and ~~100%~~it has ofdifferent ~~the~~application ~~Public~~dates ~~Shares~~for ifpublic or private companies, the Company, ~~does~~as ~~not~~an ~~complete the~~emerging ~~Initial~~growth ~~Business~~company, ~~Combination~~can byadopt the ~~Termination~~new ~~Date~~ or ~~(B)~~revised standard ~~with~~at ~~respect~~the totime ~~any~~private ~~other~~companies ~~provision~~adopt ~~relating~~the tonew ~~stockholders’ rights~~ or ~~pre-Initial~~revised ~~Business~~standard. ~~Combination~~This ~~activity;~~may ormake ~~(iii)~~comparison ~~absent~~of the ~~consummation~~Company’s offinancial anstatements with ~~Initial~~another ~~Business~~public ~~Combination~~company bywhich ~~the~~is ~~Termination Date,~~neither ~~the~~an ~~return~~emerging ofgrowth ~~the~~company ~~funds~~nor ~~held~~an inemerging ~~the~~growth ~~Trust~~company ~~Account~~which tohas opted out of using the extended ~~public~~transition ~~stockholders~~period asdifficult ~~part~~or ofimpossible ~~redemption~~because of the ~~Public~~potential ~~Shares~~differences in accounting standards used.

1211

~~Common Stock~~Use ~~Subject~~of ~~to Possible Redemption~~Estimates

The ~~Company~~ ~~accounts~~preparation ~~for~~of ~~its~~unaudited ~~Common~~condensed ~~Stock~~financial ~~subject to possible redemption~~ statements in ~~accordance~~conformity with ~~the~~U.S. ~~guidance~~GAAP inrequires ~~ASC~~the ~~Topic~~Company’s ~~480~~management ~~“Distinguishing Liabilities from Equity.” Common Stock subject~~ to ~~mandatory~~make ~~redemption~~estimates ~~is classified as a liability instrument~~ and isassumptions ~~measured at fair value. Conditionally redeemable Common Stock (including Common Stock~~ that ~~features~~affect ~~redemption~~the ~~rights~~reported ~~that is either within the~~amounts ~~control~~ of ~~the~~assets ~~holder~~and orliabilities ~~subject~~and todisclosure ~~redemption upon the occurrence~~ of ~~uncertain~~contingent ~~events~~assets ~~not~~and ~~solely~~liabilities ~~within~~at the ~~Company’s~~date control) is classified as temporary equity. At all other times, Common Stock is classified as stockholders’ equity. The Company’s Common Stock features certain redemption rights that are considered to be outside of the ~~Company’s~~financial ~~control~~statements and ~~subject~~the ~~to occurrence~~reported ofamounts ~~uncertain future events. Accordingly, Common Stock subject to possible redemption is presented at redemption value as temporary equity, outside~~ of ~~the~~revenues ~~stockholders’~~and ~~equity~~expenses ~~section~~during of the ~~Company’s~~reporting ~~balance sheet~~period.

~~The Company~~Making ~~recognizes~~estimates ~~changes~~requires inmanagement ~~redemption~~to ~~value~~exercise ~~immediately~~significant judgment. asIt ~~they~~is ~~occur~~at ~~and~~least ~~adjusts~~reasonably possible that the ~~carrying~~estimate ~~value~~of the effect of ~~redeemable~~a ~~shares~~condition, tosituation ~~equal the~~or ~~redemption~~set ~~value~~of circumstances that existed at the ~~end~~date of ~~each~~the ~~reporting~~financial ~~period.~~statements, ~~Increases~~which ormanagement ~~decreases~~considered in ~~the~~formulating ~~carrying~~its ~~amount~~estimate, ofcould ~~redeemable~~change ~~shares~~in ~~are~~the ~~effected~~near term due to byone ~~charges~~or ~~against~~more ~~additional~~future ~~paid-in~~confirming ~~capital~~events. ~~and~~Accordingly, ~~accumulated~~the ~~deficit~~actual results could differ significantly from those estimates.

~~Public~~ Cash and ~~Private~~cash ~~Warrants~~equivalents

The Company ~~accounts~~considers ~~for~~all ~~the Public Warrants and Private Placement Warrants as equity~~short-~~classified~~term ~~instruments,~~investments ~~based on~~ with an ~~assessment~~original maturity of ~~the warrant’s~~three ~~specific~~months ~~terms~~or ~~and~~less ~~applicable~~when ~~authoritative~~purchased ~~guidance~~to inbe ~~ASC~~cash ~~480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”)~~equivalents. The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s ~~own~~did ~~Common~~not ~~Stock,~~have ~~among~~any ~~other conditions~~cash ~~for~~equivalents ~~equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and~~ as of ~~each subsequent quarterly period end date while the warrants are outstanding. In that respect, the Private Placement~~ ~~Warrants,~~March ~~as well as any warrants the Company issues to the Sponsor~~31, ~~officers,~~2025 ~~directors,~~and ~~initial~~December ~~stockholders or their affiliates in payment of working capital loans made to the Company~~31, ~~were identical to the warrants underlying the Units offered in the Initial Public Offering~~2024.

~~Rights~~Cash and Money Market Funds Held in Trust Account

~~The~~Following the closing of the Initial Public Offering ~~Company~~on ~~accounts~~September ~~for~~17, ~~its~~2021, ~~Rights~~and asthe ~~equity~~underwriters’ exercise of their over-~~classified~~allotment ~~instruments~~option ~~based~~in full on September 23, 2021, an ~~assessment~~aggregate amount of $116,150,000 from the ~~Rights’~~Initial ~~specific~~Public ~~terms~~Offering and ~~applicable authoritative~~the ~~guidance~~sale of the Private Placement Warrants was placed in ~~ASC~~the ~~480~~Trust Account and ~~ASC~~may ~~815~~be invested only in U.S. ~~The~~government ~~assessment~~securities ~~considers~~with ~~whether~~a maturity of 185 days or less, in money market funds meeting certain conditions under Rule 2a-7 under the ~~Rights~~Investment ~~are~~Company ~~freestanding~~Act ~~financial~~which ~~instruments~~invest ~~pursuant~~only in direct U.S. government treasury obligations or in cash. To mitigate the risk of the Company being deemed to ~~ASC~~have ~~480,~~been ~~meet~~operating as an unregistered investment company (including under the ~~definition~~subjective test of Section 3(a)(1)(A) ~~liability~~of ~~pursuant~~the Investment Company Act), prior to ~~ASC~~the ~~480~~24-month anniversary of the effective date of the Company’s IPO Registration Statement, ~~and~~the ~~whether~~Company instructed Continental to liquidate the ~~Rights~~U.S. ~~meet~~government treasury obligations or money market funds held in the Trust Account and thereafter to maintain all funds in the ~~requirements~~Trust Account in cash in an interest-bearing bank account. In May 2024, the funds were reinvested into money market funds and subsequently liquidated back to cash in January 2025. The Trust Account is intended as a holding place for ~~equity~~funds ~~classification~~pending the earliest to occur of: (i) the completion of the Initial Business Combination; (ii) the ~~under~~redemption ~~ASC~~of ~~815,~~any ~~including~~Public ~~whether~~Shares properly submitted in connection with a stockholder vote to amend the ~~Rights~~Company’s ~~are~~Certificate ~~indexed~~of Incorporation (A) to modify the substance or timing of the Company’s ~~own~~obligation ~~Common~~to ~~Stock,~~redeem ~~among~~100% ~~other~~of ~~conditions~~the ~~for~~Public Shares if the ~~equity~~Company does not complete ~~classification.~~the ~~This~~Initial ~~assessment,~~Business ~~which~~Combination ~~requires~~by the ~~use~~Termination Date or (B) with respect to any other provision relating to stockholders’ rights or pre-Initial Business Combination activity; or (iii) absent the consummation of ~~professional~~an ~~judgement~~Initial Business Combination by the Termination Date, the isreturn ~~conducted~~of atthe funds held in the ~~time~~Trust Account to the public stockholders as part of ~~Rights~~redemption ~~issuance~~of the Public Shares.

Each Right may be traded separately. If the Company is unable to complete an Initial Business Combination within the required time period and the Company liquidates the funds held in the Trust Account, holders of Rights will not receive any such funds for their Rights, and the Rights will expire worthless. The Company has not considered the effect of Rights sold in the Initial Public Offering and the Private Placement to purchase shares of Common Stock, ~~since~~Subject ~~the~~to ~~exercise~~Possible ~~of the Rights are contingent upon the occurrence of future events.~~Redemption

~~Income~~The Company accounts for its Common Stock subject ~~Taxes~~to possible redemption in accordance with the guidance in ASC Topic 480 “Distinguishing Liabilities from Equity.” Common Stock subject to mandatory redemption is classified as a liability instrument and is measured at fair value. Conditionally redeemable Common Stock (including Common Stock that features redemption rights that is either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) is classified as temporary equity. At all other times, Common Stock is classified as stockholders’ equity. The Company’s Common Stock features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, Common Stock subject to possible redemption is presented at redemption value as temporary equity, outside of the stockholders’ equity section of the Company’s balance sheet.

The Company follows the asset and liability method of accounting for income taxes under ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.12

13The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable shares to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable shares are effected by charges against additional paid-in capital and accumulated deficit.

~~ASC 740~~Public ~~prescribes a recognition threshold~~ and aPrivate measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of September 30, 2024 and December 31, 2023. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities.Warrants

~~While ASC~~The ~~740~~Company ~~identifies~~accounts ~~usage of an effective annual tax rate~~ for ~~purposes~~the ofPublic anWarrants ~~interim~~and ~~provision, it does allow for estimating individual~~Private ~~elements~~Placement inWarrants ~~the~~as ~~current~~equity-classified ~~period if they are significant~~instruments, ~~unusual~~based oron ~~infrequent.~~an ~~Computing~~assessment of the ~~effective~~warrant’s ~~tax~~specific ~~rate~~terms ~~for~~and ~~the~~applicable ~~Company is complicated~~authoritative ~~due~~guidance toin ~~the~~ASC ~~potential~~480, ~~impact~~Distinguishing ofLiabilities ~~the~~from ~~timing~~Equity of(“ASC ~~any~~480”) ~~Business Combination expenses~~ and ~~the~~ASC ~~actual~~815, ~~interest~~Derivatives ~~income~~and ~~that~~Hedging ~~will~~(“ASC ~~be recognized during the year~~815”). The ~~Company~~assessment ~~has~~considers ~~taken~~whether ~~a position as to~~ the ~~calculation~~warrants ofare ~~income~~freestanding ~~tax~~financial ~~expense~~instruments inpursuant ato ~~current period based on~~ ASC ~~740-270-25-3 which states~~480, ~~“If~~meet anthe ~~entity~~definition isof ~~unable to estimate~~ a ~~part of its ordinary income (or loss) or the related tax (benefit) but is otherwise~~liability ~~able~~pursuant to ~~make~~ASC a480, ~~reasonable~~and ~~estimate,~~whether the ~~tax~~warrants ~~(or~~meet ~~benefit)~~all ~~applicable~~of to the ~~item~~requirements ~~that~~for ~~cannot~~equity beclassification ~~estimated~~under ~~shall~~ASC be815, ~~reported~~including ~~in the interim~~whether ~~period in which~~ the ~~item~~warrants isare ~~reported.”~~indexed ~~The Company believes its calculation~~ to ~~be a reliable estimate and allows it to properly take into account~~ the ~~usual~~Company’s ~~elements~~own ~~that~~Common ~~can~~Stock, ~~impact~~among ~~its~~other ~~annualized~~conditions ~~book~~for ~~income~~equity ~~and~~classification. ~~its~~This ~~impact~~assessment, onwhich requires the ~~effective~~use ~~tax~~of ~~rate.~~professional ~~As such~~judgment, ~~the Company~~ is ~~computing~~conducted ~~its~~at ~~taxable~~the ~~income~~time ~~(loss)~~of ~~and~~warrant ~~associated~~issuance ~~income~~and ~~tax~~as ~~provision~~of ~~based~~each onsubsequent ~~actual~~quarterly ~~results~~period ~~through September 30, 2024.~~end ~~The~~date ~~Company’s~~while ~~effective~~the ~~tax~~warrants ~~rate~~are ~~was (1~~outstanding.~~4)%~~ ~~and~~In ~~(15.6)%~~that ~~for~~respect, the ~~three~~Private ~~months~~Placement ~~ended~~Warrants, ~~September~~as ~~30,~~well ~~2024~~as ~~and~~any ~~2023,~~warrants ~~respectively.~~the ~~The~~ Company’s ~~effective~~issues ~~tax rate was (5.1)% and (11.0)% for~~ to the ~~nine~~Sponsor, ~~months ended September 30~~officers, ~~2024 and 2023~~directors, ~~respectively.~~initial ~~The~~stockholders ~~effective tax~~or ~~rate~~their ~~differs~~affiliates ~~from~~in ~~the~~payment ~~statutory~~of ~~tax~~working ~~rate~~capital ofloans ~~21%~~made ~~for~~to the ~~three and nine months ended September 30~~Company, ~~2024~~were identical ~~and 2023 due~~ to ~~non-deductible transaction~~the ~~costs~~warrants ~~and~~underlying ~~changes in~~ the ~~valuation~~Units ~~allowance~~offered onin the ~~deferred~~Initial ~~tax~~Public ~~assets~~Offering.

~~Franchise Taxes~~Rights

The Company isaccounts ~~subject~~for its Rights as equity-classified instruments based on an assessment of the Rights’ specific terms and applicable authoritative guidance in ASC 480 and ASC 815. The assessment considers whether the Rights are freestanding financial instruments pursuant to ~~franchise~~ASC ~~tax~~480, ~~filing~~meet the definition of a liability pursuant to ASC 480, and whether the Rights meet all the requirements infor equity classification under ASC 815, including whether the ~~State~~Rights are indexed to the Company’s own Common Stock, among other conditions for the equity classification. This assessment, which requires the use of ~~Delaware~~professional judgement, is conducted at the time of Rights issuance.

~~Concentration~~Each Right may be traded separately. If the Company is unable to complete an Initial Business Combination within the required time period and the Company liquidates the funds held in the Trust Account, holders of ~~Credit~~Rights ~~Risk~~will not receive any such funds for their Rights, and the Rights will expire worthless. The Company has not considered the effect of Rights sold in the Initial Public Offering and the Private Placement to purchase shares of Common Stock, since the exercise of the Rights are contingent upon the occurrence of future events.

~~Financial instruments~~Income that potentially subject the Company to concentrations of credit risk consist of cash accounts in financial institutions, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. As of September 30, 2024, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.Taxes

~~Fair~~The Company follows the asset and liability ~~Value~~method of ~~Financial~~accounting ~~Instruments~~for income taxes under ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of March 31, 2025 and December 31, 2024. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities.

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.13

~~Fair~~While ASC 740 identifies usage of an effective annual ~~Value~~tax ~~Measurements~~rate for purposes of an interim provision, it does allow for estimating individual elements in the current period if they are significant, unusual or infrequent. Computing the effective tax rate for the Company is complicated due to the potential impact of the timing of any Business Combination expenses and the actual interest income that will be recognized during the year. The Company has taken a position as to the calculation of income tax expense in a current period based on ASC 740-270-25-3 which states, “If an entity is unable to estimate a part of its ordinary income (or loss) or the related tax (benefit) but is otherwise able to make a reasonable estimate, the tax (or benefit) applicable to the item that cannot be estimated shall be reported in the interim period in which the item is reported.” The Company believes its calculation to be a reliable estimate and allows it to properly take into account the usual elements that can impact its annualized book income and its impact on the effective tax rate. As such, the Company is computing its taxable income (loss) and associated income tax provision based on actual results through March 31, 2025. The Company’s effective tax rate was (0.6)% and (29.1)% for the three months ended March 31, 2025 and 2024, respectively. The effective tax rate differs from the statutory tax rate of 21% for the three months ended March 31, 2025 and 2024 due to non-deductible transaction costs and changes in the valuation allowance on the deferred tax assets.

~~Fair value~~Franchise is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:Taxes

●The ~~Level~~Company 1,is ~~defined~~subject as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; ● Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to ~~develop~~franchise ~~its~~tax ~~own~~filing ~~assumptions, such as valuations derived from valuation techniques~~ requirements in ~~which~~the ~~one~~State orof ~~more significant inputs or significant value drivers are unobservable~~Delaware.

14Concentration of Credit Risk

~~The following~~Financial ~~table~~instruments ~~presents~~that ~~information~~potentially ~~about~~subject the Company’s ~~assets~~to ~~that~~concentrations ~~are~~of ~~measured~~credit atrisk ~~fair~~consist ~~value~~of oncash aaccounts ~~recurring~~in ~~basis~~financial institutions, which, at ~~September~~times, may exceed the Federal Depository 30Insurance Coverage of $250,000. ~~2024~~As ~~and~~of ~~December~~March 31, ~~2023~~2025, ~~and~~the ~~indicates~~Company ~~the~~has ~~fair~~not ~~value~~experienced ~~hierarchy~~losses ofon ~~the~~these ~~valuation~~accounts ~~inputs~~and management believes the Company ~~utilized~~is not exposed to ~~determine~~significant risks on such ~~fair~~ ~~value:~~accounts.

~~SCHEDULE~~Fair OFValue ~~FAIR~~of ~~VALUE~~Financial ~~MEASUREMENT ON RECURRING BASIC~~Instruments

			Fair value measurements at reporting date using:
Description	Fair Value		Quoted prices in active markets for identical liabilities (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Assets:
Marketable securities held in Trust Account at September 30, 2024	$	5,793,629	$	5,793,629	$	-	$	-
Cash held in Trust Account at December 31, 2023	$	12,453,412	$	12,453,412	$	-	$	-

~~In some~~Fair ~~circumstances,~~Value the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.Measurements

~~Net~~Fair value is defined as the price that would be received ~~Loss~~for ~~Per~~sale ~~Common~~of ~~Share~~an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:

~~Net loss~~● ~~per~~Level ~~share~~1, isdefined ~~computed~~as byobservable ~~dividing~~inputs ~~net~~such ~~loss~~as byquoted ~~the~~prices ~~weighted~~(unadjusted) ~~average~~for ~~number~~identical ofinstruments ~~common~~in ~~shares~~active ~~outstanding~~markets; ~~during~~● ~~the~~Level ~~reporting~~2, ~~period. Diluted~~defined ~~earnings~~as ~~per~~inputs ~~share~~other isthan ~~computed~~quoted ~~like~~prices ~~basic~~in ~~earnings~~active ~~per~~markets ~~share,~~that ~~except~~are ~~the~~either ~~weighted~~directly ~~average~~or ~~number~~indirectly ofobservable ~~common~~such ~~shares~~as ~~outstanding~~ quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are ~~increased~~not active; and ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to ~~include~~develop ~~additional~~its ~~shares~~own assumptions, such as valuations derived from ~~the~~valuation ~~assumed~~techniques ~~exercise~~in ofwhich ~~share~~one ~~options,~~or ifmore ~~dilutive~~significant inputs or significant value drivers are unobservable.

The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, Earnings Per Share. The Statements of Operations include a presentation of loss per redeemable share and loss per non-redeemable share following the two-class method of income per share. In order to determine the net loss attributable to both the redeemable shares and non-redeemable shares, the Company first considered the total loss allocable to both sets of shares. This is calculated using the total net loss less any dividends paid. For purposes of calculating net loss per share, any remeasurement of the ordinary shares subject to possible redemption was considered to be dividends paid to the public stockholders. Subsequent to calculating the total loss allocable to both sets of shares, the Company split the amount to be allocated using a ratio of 0% for the redeemable Public Shares and 100% for the non-redeemable shares, reflective of the respective participation rights, for the three and nine months ended September 30, 2024.14

The ~~loss~~ ~~per~~following ~~share~~table ~~presented~~presents ininformation about the Company’s ~~statement~~assets ofthat ~~operations~~are ismeasured ~~based~~at fair value on a recurring basis at March 31, 2025 and December 31, 2024 and indicates the ~~following~~fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

SCHEDULE OF ~~EARNINGS~~FAIR ~~PER~~VALUE ~~SHARE~~MEASUREMENT ON RECURRING BASIC

For the Three Months Ended September 30, 2024

			Fair value measurements at reporting date using:
Description	Fair Value		Quoted prices in active markets for identical liabilities (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Assets:
Cash held in Trust Account at March 31, 2025	$	3,260,834	$	3,260,834	$	-	$	-

Cash and money market funds held in Trust Account at December 31, 2024	$	3,144,707	$	3,144,707	$	-	$	-

	Common shares subject to redemption		Non-redeemable Common Shares
Basic and diluted net loss per share
Numerator:
Allocation of net loss		-		(883,742	)
Denominator:
Weighted-average shares outstanding		492,333		2,875,000
Basic and diluted net loss per share	$	-	$	(0.31	)

In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

15Net Loss Per Common Share

~~For~~Net loss per share is computed by dividing net loss by the ~~Three~~weighted ~~Months~~average ~~Ended~~number ~~September~~of 30common shares outstanding during the reporting period. Diluted earnings per share is computed like basic earnings per share, ~~2023~~except the weighted average number of common shares outstanding are increased to include additional shares from the assumed exercise of share options, if dilutive.

	Common shares subject to redemption		Non-redeemable Common Shares
Basic and diluted net loss per share
Numerator:
Allocation of net loss		-		(103,638	)
Denominator:
Weighted-average shares outstanding		1,265,429		2,875,000
Basic and diluted net loss per share	$	-	$	(0.04	)

~~For~~ The loss per share presented in the ~~Nine~~statement ~~Months~~of ~~Ended~~operations is ~~September~~based ~~30,~~on ~~2024~~the following:

	Common shares subject to redemption		Non-redeemable Common Shares
Basic and diluted net loss per share
Numerator:
Allocation of net loss		-		(1,430,395	)
Denominator:
Weighted-average shares outstanding		858,105		2,875,000
Basic and diluted net loss per share	$	-	$	(0.50	)

For the Three Months Ended March 31, 2025

~~For~~ SCHEDULE ~~the~~OF ~~Nine~~EARNINGS ~~Months~~PER ~~Ended September 30, 2023~~SHARE

	Common shares subject to redemption		Non-redeemable Common Shares
Basic and diluted net loss per share
Numerator:
Allocation of net loss		-		(~~966~~708,~~681~~544	)
Denominator:
Weighted-average shares outstanding		1258,~~639,715~~778		2,875,000
Basic and diluted net loss per share	$	-	$	(0.3425	)

The Company has not considered the effect of Warrants and Rights sold in the Initial Public Offering and the Private Placement to purchase 11,966,666 shares of Common Stock in the calculation of diluted loss per share, since the exercise of the Warrants and Rights are contingent upon the occurrence of future events. As a result, diluted net loss per common share is the same as basic net loss per common share for the period presented.15

~~Recent Accounting~~For ~~Pronouncements~~the Three Months Ended March 31, 2024

In June 2022, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2022-03, Fair Value Measurement (Topic 820) (“ASU 2022-03”). The amendments in ASU 2022-03 clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The amendments in this Update also require additional disclosures for equity securities subject to contractual sale restrictions. The provisions in this Update are effective for fiscal years beginning after December 15, 2023 for public business entities. Early adoption is permitted. The Company does not expect to early adopt this ASU. The Company is currently evaluating the impact of adopting this guidance on the balance sheets, results of operations and cash flows.

	Common shares subject to redemption		Non-redeemable Common Shares

Basic and diluted net loss per share
Numerator:
Allocation of net loss		-		(106,446	)
Denominator:
Weighted-average shares outstanding		1,143,123		2,875,000
Basic and diluted net loss per share	$	-	$	(0.04	)

~~ASU 2023-09~~The ~~requires~~Company ~~disaggregated~~has ~~information~~not ~~about~~considered athe ~~reporting~~effect ~~entity’s~~of ~~effective~~Warrants and ~~tax~~Rights ~~rate~~sold ~~reconciliation~~in asthe ~~well~~Initial asPublic ~~information on~~Offering ~~income~~and ~~taxes~~the ~~paid.~~Private ~~The~~Placement ~~new~~to ~~standard~~purchase is11,966,666 ~~effective~~shares ~~for~~of ~~public~~Common ~~entities~~Stock ~~with~~in ~~annual~~the ~~periods~~calculation of ~~beginning~~diluted ~~after~~loss ~~December~~per 15share, ~~2024,~~since ~~with~~the ~~early adoption~~exercise ~~permitted~~of ~~and~~the ~~should~~Warrants beand ~~applied~~Rights ~~prospectively~~are ~~with~~contingent upon the ~~option~~occurrence of ~~retrospective~~future ~~application~~events. ~~The~~As ~~Company~~a ~~does not expect to early~~result, ~~adopt~~diluted ~~this~~net ~~ASU.~~loss ~~The~~per ~~Company~~common share is ~~currently evaluating~~ the ~~impact~~same ofas ~~adopting~~basic ~~this~~net ~~guidance~~loss onper ~~the~~common ~~balance~~share ~~sheets,~~for ~~results~~the ofperiod ~~operations and cash flows~~presented.

~~The Company~~Recent ~~does~~Accounting ~~not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.~~Pronouncements

16ASU 2023-09 requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The new standard is effective for public entities with annual periods beginning after December 15, 2024, with early adoption permitted and should be applied prospectively with the option of retrospective application. The Company does not expect to early adopt this ASU. The Company is currently evaluating the impact of adopting this guidance on the balance sheets, results of operations and cash flows.

~~NOTE 3~~In November 2023, the FASB issued ASU 2023-07, ~~INITIAL~~Segment Reporting ~~PUBLIC~~(Topic ~~OFFERING~~280): Improvements to Reportable Segment Disclosures. The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating officer decision maker (“CODM”), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. The ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. Public entities will be required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment are required to provide all the disclosures required by the amendments in this ASU and existing segment disclosures in Topic 280. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted.

~~Pursuant to~~The ~~the~~Company ~~Initial~~does ~~Public~~not ~~Offering,~~believe onthat ~~September~~any ~~17,~~other ~~2021~~recently issued, ~~the~~but ~~Company~~not ~~sold~~yet 10effective,~~000,000~~ ~~Units~~accounting ~~at a price of $10.00 per Unit for a total of $100~~pronouncements,~~000,000,~~ ~~which~~if ~~increased~~currently ~~to 11~~adopted,~~500,000~~ ~~Units~~would ~~for~~have a ~~total~~material ofeffect ~~$115,000,000 when the over-allotment option was exercised in full~~ on ~~September~~ ~~23, 2021. Each Unit consists of one share of Common Stock, one Right and one Public Warrant. Each Right entitles~~ the ~~holder thereof~~Company’s ~~to receive one-fifteenth (1/15) of one share of Common Stock upon the consummation of an Initial Business Combination. Each redeemable~~financial ~~Public Warrant entitles the holder to purchase one half (1/2) of one share of Common Stock at a price of $11~~statements.~~50 per full share, subject to adjustment (see Note 7).~~

~~In connection~~NOTE ~~with~~3 ~~its~~- ~~Initial~~INITIAL ~~Public~~PUBLIC Offering, the Company incurred offering costs of $2,923,969, consisting of $2,400,000 of underwriting commissions and expenses and $523,969 of costs related to the Initial Public Offering. Additionally, the Company recorded deferred underwriting commissions of $4,025,000 payable only upon completion of the Initial Business Combination.OFFERING

~~NOTE~~Pursuant to the Initial Public Offering, on September 417, –2021, ~~RELATED~~the ~~PARTY~~Company ~~TRANSACTIONS~~sold 10,000,000 Units at a price of $10.00 per Unit for a total of $100,000,000, which increased to 11,500,000 Units for a total of $115,000,000 when the over-allotment option was exercised in full on September 23, 2021. Each Unit consists of one share of Common Stock, one Right and one Public Warrant. Each Right entitles the holder thereof to receive one-fifteenth (1/15) of one share of Common Stock upon the consummation of an Initial Business Combination. Each redeemable Public Warrant entitles the holder to purchase one half (1/2) of one share of Common Stock at a price of $11.50 per full share, subject to adjustment (see Note 7).

~~Sponsor~~In connection with its Initial Public Offering, the ~~Shares~~Company incurred offering costs of $2,923,969, consisting of $2,400,000 of underwriting commissions and expenses and $523,969 of costs related to the Initial Public Offering. Additionally, the Company recorded deferred underwriting commissions of $4,025,000 payable only upon completion of the Initial Business Combination.

~~On March~~ 16~~, 2021, the Sponsor purchased 2,875,000 shares (the “Founder Shares”) of the Company’s Common Stock for an aggregate price of $25,000.~~

~~Prior to~~NOTE ~~the~~4 ~~effective~~– ~~date~~RELATED ofPARTY the registration statement filed in connection with the Initial Public Offering, the Company entered into agreements with its directors in connection with their board service and certain members of its advisory board in connection with their advisory board service for its Sponsor to transfer an aggregate of 277,576 of its Founder Shares to the Company’s directors for no cash consideration and an aggregate of 60,000 of its Founder Shares to certain members of the Company’s advisory board for no cash consideration, for a total of 337,576 shares, approximating the fair value of the shares on such date, or $34. The shares were subsequently transferred prior to the effectiveness of the Company’s registration statement. The Founder Shares do not have redemption rights and will be worthless unless the Company consummates its Initial Business Combination.TRANSACTIONS

~~Private Placement~~Sponsor ~~Warrants~~Shares

~~Our Sponsor~~On ~~purchased~~March ~~from~~16, ~~us an aggregate of 10~~2021,~~900,000~~ ~~Private~~the ~~Placement~~Sponsor ~~Warrants~~purchased ~~at a purchase price of $0.50 per warrant~~2, ~~or $5~~875,~~450,~~000 inshares (the ~~aggregate,~~“Founder inShares”) aof ~~private placement that closed simultaneously with~~ the ~~closing~~Company’s ofCommon ~~the~~Stock ~~Initial~~for ~~Public~~an ~~Offering.~~aggregate Aprice ~~portion~~ of ~~the proceeds received from the purchase equal to~~ $325,~~450,~~000 ~~was placed in the Trust Account so that at least $10~~.~~10 per share sold to the public in the Initial Public Offering is held in the Trust Account.~~

~~March~~Prior to the effective date of the registration statement ~~2021~~filed ~~Promissory~~in ~~Note~~connection –with ~~Related~~the ~~Party~~Initial Public Offering, the Company entered into agreements with its directors in connection with their board service and certain members of its advisory board in connection with their advisory board service for its Sponsor to transfer an aggregate of 277,576 of its Founder Shares to the Company’s directors for no cash consideration and an aggregate of 60,000 of its Founder Shares to certain members of the Company’s advisory board for no cash consideration, for a total of 337,576 shares, approximating the fair value of the shares on such date, or $34. The shares were subsequently transferred prior to the effectiveness of the Company’s registration statement. The Founder Shares do not have redemption rights and will be worthless unless the Company consummates its Initial Business Combination.

On March 16, 2021, the Company issued an unsecured promissory note to the Sponsor (extended by amendment in March 2022 to the consummation of an Initial Business Combination) (the “March 2021 Promissory Note”), pursuant to which the Company could borrow up to an aggregate principal amount of $300,000, of which $300,000 was outstanding under the March 2021 Promissory Note as of September 30, 2024 and December 31, 2023. The March 2021 Promissory Note is non-interest bearing and payable on the date on which the Company consummates its Initial Business Combination. The Sponsor may elect to convert any portion or all of the amount outstanding under the March 2021 Promissory Note into Private Placement Warrants to purchase shares of Common Stock of the Company at a conversion price of $0.50 per warrant, and each warrant will entitle the holder to acquire one-half share of the Company’s Common Stock at an exercise price of $11.50 per share, commencing on the date of the Initial Business Combination of the Company, and otherwise on the terms of the Private Placement Warrants.

~~The Company~~Our ~~analyzed~~Sponsor ~~the~~purchased ~~conversion~~from ~~feature~~us an aggregate of ~~the~~10,900,000 Private ~~March~~Placement ~~2021~~Warrants ~~Promissory~~at ~~Note~~a ~~into~~purchase ~~private~~price ~~warrants~~of ~~under~~$0.50 ~~ASC~~per ~~815~~warrant, ~~Derivatives~~or ~~and Hedging~~$5, ~~ASC~~ 450,000 ~~Contingencies,~~in ~~ASC~~the ~~480~~aggregate, ~~Distinguishing Liabilities from Equity and ASU 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts~~ in ~~Entity’s~~a ~~Own~~private ~~Equity~~placement ~~(Subtopic~~that ~~815-40).~~closed ~~Prior~~simultaneously towith ~~any Initial Business Combination,~~ the ~~outstanding~~closing ~~amounts~~of ~~under~~ the ~~March~~Initial ~~2021~~Public ~~Promissory~~Offering. ~~Note~~A ~~are~~portion ~~recorded~~of ~~as a liability on~~ the ~~balance~~proceeds ~~sheet.~~received ~~The~~from ~~conversion feature for any such outstanding amounts requires liability treatment on~~ the ~~balance~~purchase ~~sheet~~equal ~~and should be recorded at fair value with changes~~ to ~~the fair value being recorded through the income statement. Once converted~~$3, ~~the private warrants~~450,000 ~~being~~was ~~identical~~placed toin the ~~Public~~Trust ~~Warrants,~~Account ~~will~~so bethat ~~classified~~at ~~under~~least ~~equity treatment~~$10.10 ~~However,~~per ~~given~~share ~~that~~sold ~~the~~to ~~fair value of such conversion feature is not material as of~~ the ~~latest~~public ~~drawdown~~in ~~date, and~~ the ~~reporting~~Initial ~~date,~~Public orOffering ~~September~~is ~~30,~~held ~~2024,~~in ~~management has not recorded any such adjustment to~~ the ~~Company’s financial statements~~Trust Account.

17March 2021 Promissory Note – Related Party

~~October~~On March 16, 2021, the Company issued an unsecured ~~2023~~promissory note to the Sponsor (extended by amendment in March 2022 to the consummation of an Initial Business Combination) (the “March 2021 Promissory Note”), –pursuant ~~Related~~to ~~Party~~which the Company could borrow up to an aggregate principal amount of $300,000, of which $300,000 was outstanding under the March 2021 Promissory Note as of March 31, 2025 and December 31, 2024. The March 2021 Promissory Note is non-interest bearing and payable on the date on which the Company consummates its Initial Business Combination. The Sponsor may elect to convert any portion or all of the amount outstanding under the March 2021 Promissory Note into Private Placement Warrants to purchase shares of Common Stock of the Company at a conversion price of $0.50 per warrant, and each warrant will entitle the holder to acquire one-half share of the Company’s Common Stock at an exercise price of $11.50 per share, commencing on the date of the Initial Business Combination of the Company, and otherwise on the terms of the Private Placement Warrants.

~~On October~~The ~~31,~~Company ~~2023,~~analyzed the ~~Company~~conversion ~~issued~~feature anof ~~unsecured~~the March ~~promissory~~2021 ~~note~~Promissory toNote ~~the~~into ~~Sponsor~~private ~~(the~~warrants ~~“October~~under ~~2023~~ASC ~~Promissory~~815, ~~Note”)~~Derivatives and Hedging, ~~pursuant~~ASC 450, Contingencies, ASC 480, toDistinguishing ~~which~~Liabilities ~~the~~from ~~Company~~Equity ~~may~~and ~~borrow~~ASU up2020-06, to“Debt—Debt anwith ~~aggregate~~Conversion ~~principal~~and Other Options (Subtopic 470-20) ~~amount~~and ofDerivatives ~~$1,000,000.~~and AsHedging—Contracts ofin ~~September~~Entity’s ~~30,~~Own ~~2024,~~Equity ~~the~~(Subtopic ~~Company~~815-40). ~~had~~Prior ~~effected~~to ~~drawdowns~~any ofInitial ~~$709~~Business Combination,~~200~~ the outstanding amounts under the ~~October~~March ~~2023~~2021 Promissory Note are recorded as a liability on the balance sheet. The ~~October~~conversion ~~2023~~feature for ~~Promissory~~any ~~Note~~such ~~does~~outstanding ~~not~~amounts ~~bear~~requires ~~interest and~~liability ~~matures~~treatment ~~upon~~on the ~~closing~~balance ofsheet ~~the~~and ~~Initial~~should ~~Business~~be ~~Combination.~~recorded Inat ~~the~~fair ~~event~~value ~~that~~with changes to the ~~Company~~fair ~~does~~value ~~not~~being ~~consummate~~recorded anthrough ~~Initial~~the ~~Business Combination~~income statement. Once converted, the ~~October~~private ~~2023~~warrants, ~~Promissory~~being ~~Note~~identical to the Public Warrants, will be ~~repaid~~classified ~~only~~under ~~from~~equity ~~amounts~~treatment. ~~remaining~~However, ~~outside~~given that the fair value of such conversion feature is not material as of the ~~Trust~~latest drawdown ~~Account~~date, ifand the reporting date, or March 31, 2025, management has not recorded any such adjustment to the Company’s financial statements.

~~Extension Notes~~October 2023 Promissory Note – Related Party

~~As previously~~On ~~disclosed,~~October ~~on December 5~~31, ~~2022~~ 2023, the Company issued ~~the~~an ~~First~~unsecured ~~Extension~~promissory ~~Note~~note to the Sponsor (the “October 2023 Promissory Note”), pursuant to which the ~~Sponsor agreed~~Company tomay ~~loan~~borrow up to ~~the~~an ~~Company~~aggregate upprincipal toamount of $~~750~~1,000,000. inAs ~~connection~~of ~~with~~March 31, 2025, the ~~extension~~Company had effected drawdowns of $1,000,000 under the ~~Termination~~October ~~Date~~2023 Promissory Note. The October ~~First~~2023 ~~Extension~~Promissory Note does not bear interest and matures upon the ~~earlier~~closing of ~~(a)~~ the ~~closing of an~~ Initial Business Combination ~~and (b) the Company’s liquidation~~. In the event that the Company does not consummate an Initial Business Combination, the ~~First~~October ~~Extension~~2023 Promissory Note will be repaid only from amounts remaining outside of the Trust Account, if any. Upon the consummation of an Initial Business Combination, the Sponsor may elect to convert any portion or all of the amount outstanding under the First Extension Note into private warrants to purchase shares of the Company’s Common Stock at a conversion price of $0.50 per private warrant. Such private warrants will be identical to the Private Placement Warrants issued to the Sponsor at the time of the Initial Public Offering. The balance on the First Extension Note as of September 30, 2024 and December 31, 2023 was $750,000.

As previously disclosed, in connection with the approval of the June 2023 Extension Amendment on June 12, 2023, on June 13, 2023, the Company issued the Second Extension Note to the Sponsor, pursuant to which the Sponsor agreed to loan to the Company up to $390,000 in connection with the extension of the Termination Date. The Second Extension Note does not bear interest and matures upon the earlier of (a) the closing of an Initial Business Combination and (b) the Company’s liquidation. In the event that the Company does not consummate an Initial Business Combination, the Second Extension Note will be repaid only from amounts remaining outside of the Trust Account, if any. Upon the consummation of an Initial Business Combination, the Sponsor may elect to convert any portion or all of the amount outstanding under the Second Extension Note into private placement warrants to purchase shares of the Company’s Common Stock at a conversion price of $0.50 per private placement warrant. Such private placement warrants will be identical to the Private Placement Warrants issued to the Sponsor at the time of the Initial Public Offering. The balance on the Second Extension Note as of September 30, 2024 and December 31, 2023 was $390,000.17

~~As previously~~January ~~disclosed,~~2025 inPromissory ~~connection with the approval of the November 2023 Extension Amendment on November 30, 2023, on December 13, 2023, the Company issued the Third Extension~~ Note to– ~~the~~Related Sponsor, pursuant to which the Sponsor agreed to loan to the Company up to $330,000 in connection with the extension of the Termination Date. The Third Extension Note does not bear interest and matures upon the earlier of (a) the closing of an Initial Business Combination and (b) the Company’s liquidation. In the event that the Company does not consummate an Initial Business Combination, the Third Extension Note will be repaid only from amounts remaining outside of the Trust Account, if any. The balance on the Third Extension Note as of September 30, 2024 and December 31, 2023 was $330,000 and $55,000, respectively.Party

~~As previously~~On ~~disclosed~~January 31, in2025, ~~connection with~~ the ~~approval~~Company ofissued ~~the~~an ~~June~~unsecured promissory ~~2024~~note ~~Extension~~to ~~Amendment~~the onSponsor ~~June~~in 3,the ~~2024,~~principal onamount ~~June~~of 12$1, ~~2024~~000,000 (the ~~Company issued~~“January ~~the~~2025 ~~Fourth~~Promissory ~~Extension~~ Note”) ~~to the Sponsor,~~ pursuant to which the ~~Sponsor~~Company ~~agreed~~may toborrow ~~loan~~up to ~~the~~an ~~Company~~aggregate upprincipal toamount of $~~180~~1,000,000. inAs ~~connection with~~of March 31, 2025, the ~~extension~~Company had effected drawdowns of $122,202 under the ~~Termination~~January ~~Date~~2025 Promissory Note. The ~~Fourth~~January ~~Extension~~2025 Promissory Note does not bear interest and matures upon the ~~earlier~~ closing of ~~(a)~~ the ~~closing~~ ~~of an~~ Initial Business Combination ~~and (b) the Company’s liquidation~~. In the event that the Company does not consummate an Initial Business Combination, the ~~Fourth~~January ~~Extension~~2025 Promissory Note will be repaid only from amounts remaining outside of the Trust Account, if any. ~~The balance on the Fourth Extension Note as of September 30, 2024 and December 31, 2023 was $120,000 and $0, respectively.~~

18Extension Notes – Related Party

~~Through~~As previously disclosed, on December 5, 2022, the Company issued the ~~date~~First ofExtension ~~this~~Note ~~report~~to the Sponsor, pursuant to which the ~~Company~~Sponsor ~~has~~agreed ~~effected~~to ~~drawdowns~~loan ofto anthe ~~aggregate~~Company ofup to $1750,~~650,~~000 ~~under~~in connection with the extension of the Termination Date. The First Extension ~~Notes~~Note does not bear interest and ~~caused~~matures ~~such~~upon the earlier of ~~sums~~(a) tothe beclosing ~~deposited~~of ~~into~~an Initial Business Combination and (b) the ~~Trust~~Company’s ~~Account~~liquidation. inIn ~~connection~~the ~~with~~event that the ~~extension~~Company ofdoes not consummate an Initial Business Combination, the ~~Termination~~First ~~Date~~Extension Note will be repaid only from ~~December~~amounts ~~17,~~remaining ~~2022~~outside toof ~~December 17~~the Trust Account, ~~2024~~if any. ~~Such~~Upon ~~amounts~~the ~~will~~consummation beof ~~distributed~~an ~~either~~Initial Business Combination, the Sponsor may elect to: ~~(i)~~convert any portion or all of the ~~holders~~amount ofoutstanding under ~~Public~~the ~~Shares~~First ~~upon~~Extension Note into private warrants to purchase shares of the Company’s ~~liquidation~~Common ~~or (ii)~~Stock ~~holders~~at ofa ~~Public~~conversion ~~Shares~~price ~~who~~of ~~elect~~$0.50 per toprivate ~~have~~warrant. ~~their~~Such ~~shares~~private ~~redeemed~~warrants inwill ~~connection~~be ~~with~~identical ~~(a)~~to the ~~vote~~Private Placement Warrants issued to ~~approve~~the Sponsor at the ~~Charter~~time ~~Extension~~of the ~~Amendment~~Initial orPublic ~~(b)~~Offering. The balance on the ~~consummation~~First Extension Note as of anMarch ~~Initial~~31, ~~Business~~2025 ~~Combination~~and December 31, 2024 was $750,000.

~~The Company~~As ~~analyzed~~previously ~~the~~disclosed, ~~conversion~~in ~~feature~~connection ofwith the ~~First~~approval of ~~and~~the ~~Second~~June 2023 Extension ~~Notes~~Amendment ~~into~~on ~~private~~June ~~warrants~~12, ~~under~~2023, ~~ASC~~on ~~815~~June 13, ~~Derivatives and Hedging~~2023, ~~ASC~~the ~~450,~~Company ~~Contingencies,~~issued ~~ASC~~the ~~480~~Second Extension Note to the Sponsor, pursuant ~~Distinguishing~~to ~~Liabilities~~which ~~from~~the ~~Equity~~Sponsor ~~and~~agreed ~~ASU~~to ~~2020-06~~loan to the Company up to $390,000 ~~Debt—Debt~~ in connection with ~~Conversion~~the ~~and~~extension ~~Other~~of ~~Options~~the ~~(Subtopic~~Termination ~~470-20)~~Date. ~~and~~The Second ~~Derivatives~~Extension Note does not bear interest and ~~Hedging—Contracts~~matures inupon ~~Entity’s~~the ~~Own~~earlier ~~Equity~~of (~~Subtopic 815-40~~a).” ~~Prior~~the toclosing of an Initial Business Combination, and (b) the ~~outstanding~~Company’s ~~amounts~~liquidation. ~~under~~In the ~~Extension~~event ~~Notes~~that ~~are~~the ~~recorded~~Company asdoes anot ~~liability on~~consummate ~~the~~an ~~balance~~Initial ~~sheet.~~Business ~~The~~Combination, ~~conversion~~the ~~feature~~Second ~~for~~Extension Note ~~any~~will ~~such~~be ~~outstanding~~repaid ~~amounts~~only ~~requires~~from ~~liability~~amounts ~~treatment~~remaining onoutside of the ~~balance~~Trust ~~sheet~~Account, ~~and~~if ~~should be~~any. ~~recorded~~Upon atthe ~~fair~~consummation ~~value~~of ~~with~~an ~~changes~~Initial toBusiness Combination, the ~~fair~~Sponsor ~~value~~may ~~being~~elect ~~recorded~~to ~~through~~convert ~~the~~any ~~income~~portion ~~statement.~~or ~~Once~~all ~~converted,~~of the amount outstanding under the Second Extension Note into private placement warrants, ~~being~~to ~~identical~~purchase toshares of the ~~Public~~Company’s ~~Warrants,~~Common ~~will~~Stock beat ~~classified~~a ~~under~~conversion ~~equity~~price ~~treatment~~of $0.50 ~~However,~~per ~~given~~private ~~that~~placement ~~the~~warrant. ~~fair~~Such ~~value~~private ofplacement warrants ~~such~~will ~~conversion feature~~be isidentical ~~not~~to ~~material~~the asPrivate ofPlacement ~~the~~Warrants ~~latest~~issued ~~drawdown~~to ~~date~~the ofSponsor ~~each~~at the time of the ~~Extension~~Initial ~~Notes,~~Public ~~the~~Offering. ~~reporting~~The ~~date,~~balance on orthe ~~September~~Second ~~30,~~Extension ~~2024,~~Note ~~management has~~as ~~not~~of ~~recorded~~March ~~any~~31, ~~such~~2025 ~~adjustment~~and toDecember ~~the~~31, ~~Company’s~~2024 ~~financial~~was ~~statements~~$390,000.

~~Administrative~~As previously disclosed, in connection with the approval ~~Support~~of ~~Agreement~~the November 2023 Extension Amendment on November 30, 2023, on December 13, 2023, the Company issued the Third Extension Note to the Sponsor, pursuant to which the Sponsor agreed to loan to the Company up to $330,000 in connection with the extension of the Termination Date. The Third Extension Note does not bear interest and matures upon the earlier of (a) the closing of an Initial Business Combination and (b) the Company’s liquidation. In the event that the Company does not consummate an Initial Business Combination, the Third Extension Note will be repaid only from amounts remaining outside of the Trust Account, if any. The balance on the Third Extension Note as of March 31, 2025 and December 31, 2024 was $330,000.

~~The Company~~As ~~entered~~previously ~~into~~disclosed, anin ~~agreement~~connection towith ~~pay~~the ~~our~~approval of ~~Sponsor~~the aJune ~~monthly~~2024 ~~fee~~Extension ofAmendment ~~$10~~on June 3,~~000~~ ~~for~~2024, ~~office~~on ~~space~~June 12, ~~secretarial~~2024, ~~and~~the ~~administrative~~Company ~~support~~issued the Fourth Extension Note to the Sponsor, pursuant ~~services~~to ~~provided~~which the Sponsor agreed to loan to the Company ~~beginning~~up to $180,000 in ~~September~~connection ~~2021~~with ~~and~~the ~~continuing~~extension ~~monthly~~of ~~until~~the Termination Date. The Fourth Extension Note does not bear interest and matures upon the earlier of (a) the ~~completion~~closing of an Initial Business Combination orand (b) the Company’s liquidation. AsIn ofthe ~~September~~event ~~30,~~that ~~2024~~the Company does not consummate an Initial Business Combination, ~~$315~~the Fourth Extension Note will be repaid only from amounts remaining outside of the Trust Account,~~000~~ isif ~~owed~~any. toThe balance on the ~~Sponsor~~Fourth ~~under~~Extension ~~this~~Note ~~agreement~~as of March 31, 2025 and December 31, 2024 was $180,000.

~~NOTE~~As previously disclosed, in connection with the approval 5of –the ~~COMMITMENTS~~December ~~AND~~2024 ~~CONTINGENCIES~~Extension Amendment on December 10, 2024, on December 16, 2024, the Company issued the Fifth Extension Note to the Sponsor, pursuant to which the Sponsor agreed to loan to the Company up to $180,000 in connection with the extension of the Termination Date. The Fifth Extension Note does not bear interest and matures upon the earlier of (a) the closing of an Initial Business Combination and (b) the Company’s liquidation. In the event that the Company does not consummate an Initial Business Combination, the Fifth Extension Note will be repaid only from amounts remaining outside of the Trust Account, if any. The balance on the Fifth Extension Note as of March 31, 2025 and December 31, 2024 was $120,000 and $30,000, respectively.

~~Registration~~As previously disclosed, in connection with the approval of the June 2025 ~~Rights~~Extension Amendment on June 16, 2025, on June 16, 2025, the Company issued the Sixth Extension Note to the Sponsor, pursuant to which the Sponsor agreed to loan to the Company up to $90,000 in connection with the extension of the Termination Date. The Sixth Extension Note does not bear interest and matures upon the earlier of (a) the closing of an Initial Business Combination and (b) the Company’s liquidation. In the event that the Company does not consummate an Initial Business Combination, the Sixth Extension Note will be repaid only from amounts remaining outside of the Trust Account, if any.

The holders of the Founder Shares are entitled to registration rights pursuant to a registration rights agreement signed on the effective date of the Initial Public Offering. The holders of the majority of these securities are entitled to make up to three demands that the Company register such securities. The holders of the majority of the Founder Shares can elect to exercise these registration rights at any time commencing three months prior to the date on which the Founder Shares are to be released from escrow. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to our consummation of our Initial Business Combination.18

~~Underwriting~~Through the date of this report, the Company ~~Agreement~~has effected drawdowns of an aggregate of $2,070,000 under the Extension Notes and caused such sums to be deposited into the Trust Account in connection with the extension of the Termination Date from December 17, 2022 to February 17, 2025. Such amounts will be distributed either to: (i) all of the holders of Public Shares upon the Company’s liquidation or (ii) holders of Public Shares who elect to have their shares redeemed in connection with (a) a vote to approve certain specified amendments to the Company’s Certificate of Incorporation or (b) the consummation of an Initial Business Combination.

The Company ~~granted~~analyzed the ~~underwriters~~conversion afeature ~~45-day~~of the ~~option~~First ~~from~~and ~~the~~Second ~~date~~Extension ofNotes ~~its~~into ~~prospectus~~private towarrants ~~purchase~~under upASC to815, 1Derivatives and Hedging,~~500~~ ASC 450,~~000~~ ~~additional~~Contingencies, ASC ~~Units~~480, toDistinguishing ~~cover over~~Liabilities from Equity and ASU 2020-~~allotments~~06, ifDebt—Debt ~~any,~~with atConversion ~~the~~and ~~Initial~~Other ~~Public~~Options (Subtopic ~~Offering~~470-20) ~~price~~and ~~less~~Derivatives ~~the~~and ~~underwriting~~Hedging—Contracts ~~discounts~~in ~~and~~Entity’s ~~commissions~~Own Equity (Subtopic 815-40).” OnPrior ~~September~~to ~~23,~~an Initial ~~2021~~Business Combination, the ~~underwriters~~outstanding ~~exercised~~amounts under the ~~over-allotment~~Extension ~~option~~Notes inare ~~full~~recorded as a liability on the balance sheet. The conversion feature for any such outstanding amounts requires liability treatment on the balance sheet and ~~purchased~~should anbe ~~additional~~recorded 1at fair value with changes to the fair value being recorded through the income statement. Once converted,~~500~~ the private warrants,~~000~~ ~~Units~~being identical (to the ~~“Over-Allotment~~Public ~~Units”)~~Warrants, will be classified under equity treatment. However, given that the fair value of such conversion ~~generating~~feature ~~gross~~is ~~proceeds~~not material as of ~~$15~~the latest drawdown date of each of the Extension Notes,~~000~~ the reporting date,~~000~~ onor ~~September~~March 2731, ~~2021~~2025, management has not recorded any such adjustment to the Company’s financial statements.

~~The underwriters~~Administrative ~~received~~Support ~~a cash underwriting discount of $0.20 per Unit, or $2,300,000 in the aggregate, and were paid offering expenses of $100,000 upon the closing of the Initial Public Offering including the overallotment.~~Agreement

~~Finder~~The Company entered into an agreement to pay our Sponsor a monthly fee of $10,000 for office space, secretarial, and administrative support services provided to the Company beginning in September 2021 and continuing monthly until the earlier of the completion of an Initial Business Combination or the Company’s liquidation. ~~Fee~~As ~~Agreement~~of March 31, 2025, $375,000 is owed to the Sponsor under this agreement.

~~On July~~NOTE ~~12,~~5 ~~2022,~~– ~~the~~COMMITMENTS ~~Company~~AND entered into a finder’s fee agreement with a third-party finder (“Finder”), payable only upon the successful consummation of an Initial Business Combination with a merger target company identified and introduced by the Finder and acknowledged by the Company in writing during the retention period, which shall be one year after origination and will continue for one year after such period, unless terminated earlier. For purposes of the agreement, the finder’s fee shall be calculated as 1% of the sum of any cash and noncash consideration actually delivered and paid in connection with an Initial Business Combination.CONTINGENCIES

19Registration Rights

~~Agent~~The holders of the Founder Shares are entitled to ~~Agreement~~registration rights pursuant to a registration rights agreement signed on the effective date of the Initial Public Offering. The holders of the majority of these securities are entitled to make up to three demands that the Company register such securities. The holders of the majority of the Founder Shares can elect to exercise these registration rights at any time commencing three months prior to the date on which the Founder Shares are to be released from escrow. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to our consummation of our Initial Business Combination.

~~On July~~Underwriting 19, 2022, the Company entered an agent agreement with a FINRA registered broker-dealer (“Agent”), by which the Company engaged the Agent as its non-exclusive agent to use commercially reasonable efforts to refer the Company to potential target companies for an Initial Business Combination. If the Company completes a transaction with any such target company referred to by the Agent within 18 months after such referral, the Agent shall be paid a success fee based upon the transaction value, which shall become due and payable concurrently with the Initial Business Combination.Agreement

~~Chardan~~The Company granted the underwriters a 45-day option ~~Capital~~from ~~Markets~~the date of its prospectus to purchase up to 1,500,000 ~~LLC~~additional ~~M&A~~Units /to ~~Capital~~cover ~~Markets~~over-allotments, ~~Advisory~~if ~~Agreement~~any, at the Initial Public Offering price less the underwriting discounts and commissions. On September 23, 2021, the underwriters exercised the over-allotment option in full and purchased an additional 1,500,000 Units (the “Over-Allotment Units”), generating gross proceeds of $15,000,000 on September 27, 2021.

~~On July~~The ~~23,~~underwriters ~~2022,~~received ~~the Company entered~~ a ~~M&A/Capital~~cash ~~Markets~~underwriting ~~Advisory Agreement (“M&A Agreement”) with Chardan Capital~~discount Markets, LLC (“Chardan”), by which Chardan shall assist and advise the Company in completing an Initial Business Combination. In the event an Initial Business Combination is consummated during the term of ~~the M&A Agreement, the Company shall pay to Chardan at the closing of the Initial Business Combination a fee (the “M&A Fee”) as described below~~$0.20 Ifper ~~the M&A Fee is to be based on the “Aggregate Value” of an Initial Business Combination~~Unit, ~~such~~or ~~term means~~$2, ~~without duplication~~300,000 anin ~~amount equal to~~ the ~~sum of the~~ aggregate ~~value of any securities issued~~, ~~promissory notes delivered by the Company to a target company in connection with an Initial Business Combination,~~ and ~~any~~were ~~other cash and non-cash consideration (using such values as set forth in such Initial Business Combination’s definitive agreement) delivered and~~ paid inoffering ~~connection~~expenses ~~with~~of ~~an Initial Business Combination~~$100,000 ~~and~~upon the ~~amount of all debt and debt-like instruments of the target company immediately prior to~~ closing ~~that (a) are assumed or acquired by the Company or (b) retired or defeased in connection with such business combination less any amounts~~ of ~~a financing relating to such Initial Business Combination (a “Financing”) that are~~ the ~~basis of a Financing Fee (as defined below). Even if an~~ Initial ~~Business Combination~~Public isOffering ~~not~~including ~~consummated prior to~~ the expiration or termination of the M&A Agreement, Chardan shall be entitled to the full M&A Fee with respect to any transaction consummated involving a party introduced to the Company by Chardan (an “Introduced Party”) that occurs within 18 months of the expiration or termination of the M&A Agreement or within 12 months of the expiration or termination of the M&A Agreement for any party not deemed an Introduced Partyoverallotment.

~~In the~~Finder’s ~~event an Initial Business Combination is consummated involving a party other than an Introduced Party, the Company will pay to Chardan an M&A~~ Fee equal to the greater of $800,000 or 1% of the Aggregate Value of the Initial Business Combination, paid at the close of the Initial Business Combination. In the event an Initial Business Combination is consummated with an Introduced Party as business combination target, the Company shall pay to Chardan an aggregate M&A Fee based on the Aggregate Value of the Initial Business Combination according to the following schedule:Agreement

●On 3%July of12, 2022, the ~~first~~Company ~~$100~~entered ~~million~~into ~~Aggregate~~a ~~Value;~~finder’s fee ●agreement 2%with a third-party finder (“Finder”), payable only upon the successful consummation of an Initial Business Combination with a merger target company identified and introduced by the ~~Aggregate~~Finder ~~Value~~and ~~greater~~acknowledged ~~than~~by ~~$100~~the ~~million~~Company ~~but~~in ~~less~~writing ~~than~~during ~~$200~~the ~~million;~~retention ●period, which shall be one year after origination and will continue for one year after such period, unless terminated earlier. For purposes of the agreement, the finder’s fee shall be calculated as 1% of the ~~Aggregate~~sum ~~Value~~of ~~greater~~any ~~than~~cash ~~$200~~and ~~million~~noncash consideration actually delivered and paid in connection with an Initial Business Combination.

~~The M&A Fee will be paid either in cash out of the flow of funds from the Trust Account or in registered and free trading securities of the Company, as the parties may agree.~~19

~~The Company~~Agent will pay a cash fee equal to 5% of the aggregate sales price of securities sold in the financing to introduced parties and a cash fee equal to 1% of the aggregate sales price of public or private securities sold in a financing transaction to investors other than introduced parties (collectively, the “Financing Fee”). If such sale of securities occurs through multiple closings, then a pro rata portion of such fee shall be paid upon each closing. The Financing Fee will be paid in cash from the flow of funds from the Financing.Agreement

~~The~~On July 19, 2022, the Company entered an agent agreement with a FINRA registered broker-dealer (“Agent”), by which the Company ~~will~~engaged ~~pay~~the ~~Chardan~~Agent upas its non-exclusive agent to ~~$150,000~~use commercially inreasonable ~~aggregate~~efforts to refer the Company to potential target companies for ~~reimbursable~~an ~~out~~Initial ofBusiness ~~pocket~~Combination. ~~expenses~~If the Company completes a transaction with any such target company referred to by the Agent within 18 months after such referral, the Agent shall be paid a success fee based upon the transaction value, which shall become due and payable concurrently with the Initial Business Combination.

~~On April 24, 2024,~~ Chardan ~~resigned its role as M&A/~~Capital Markets, ~~Advisor~~LLC ~~and terminated the~~ M&A ~~Agreement~~/ ~~solely~~Capital ~~with~~Markets ~~respect to~~Advisory ~~the Company’s contemplated business combination with Xtribe.~~Agreement

AsOn July 23, 2022, the Company entered a M&A/Capital ofMarkets ~~September~~Advisory 30Agreement (“M&A Agreement”) with Chardan Capital Markets, ~~2024~~LLC (“Chardan”), by which Chardan shall assist and ~~December~~advise ~~31,~~the ~~2023~~Company in completing an Initial Business Combination. In the event an Initial Business Combination is consummated during the term of the M&A Agreement, the Company ~~recorded~~shall ~~deferred~~pay ~~underwriting~~to ~~commissions~~Chardan at the closing of $4the Initial Business Combination a fee (the “M&A Fee”) as described below. If the M&A Fee is to be based on the “Aggregate Value” of an Initial Business Combination,~~025~~ such term means,~~000~~ ~~payable~~without duplication, an amount equal to ~~Chardan~~the sum of the aggregate value of any securities issued, promissory ~~only~~notes ~~upon~~delivered ~~completion~~by the Company to a target company in connection with an Initial Business Combination, and any other cash and non-cash consideration (using such values as set forth in such Initial Business Combination’s definitive agreement) delivered and paid in connection with an Initial Business Combination, and the amount of ~~its~~all debt and debt-like instruments of the target company immediately prior to closing that (a) are assumed or acquired by the Company or (b) retired or defeased in connection with such business combination less any amounts of a financing relating to such Initial Business Combination (a “Financing”) that are the basis of a Financing Fee (as defined below). Even if an Initial Business Combination is not consummated prior to the expiration or termination of the M&A Agreement, Chardan shall be entitled to the full M&A Fee with respect to any transaction consummated involving a party introduced to the Company by Chardan (an “Introduced Party”) that occurs within 18 months of the expiration or termination of the M&A Agreement or within 12 months of the expiration or termination of the M&A Agreement for any party not deemed an Introduced Party.

20In the event an Initial Business Combination is consummated involving a party other than an Introduced Party, the Company will pay to Chardan an M&A Fee equal to the greater of $800,000 or 1% of the Aggregate Value of the Initial Business Combination, paid at the close of the Initial Business Combination. In the event an Initial Business Combination is consummated with an Introduced Party as business combination target, the Company shall pay to Chardan an aggregate M&A Fee based on the Aggregate Value of the Initial Business Combination according to the following schedule:

~~NOTE 6~~● –3% ~~COMMON~~of ~~STOCK~~the ~~SUBJECT~~first TO$100 ~~POSSIBLE~~million ~~REDEMPTION~~Aggregate Value; ● 2% of the Aggregate Value greater than $100 million but less than $200 million; ● 1% of the Aggregate Value greater than $200 million.

The ~~Company’s~~ ~~Common~~M&A ~~Stock~~Fee ~~features~~will ~~certain~~be ~~redemption~~paid ~~rights~~either ~~that~~in ~~are~~cash ~~considered~~out ~~to be outside~~ of the ~~Company’s~~flow ~~control and subject to occurrence~~ of ~~uncertain~~funds ~~future~~from ~~events.~~the ~~Accordingly,~~Trust ~~Common~~Account ~~Stock~~or ~~subject~~in toregistered ~~possible~~and ~~redemption~~free istrading ~~presented~~securities ~~at redemption value as temporary equity, outside~~ of the ~~stockholders’~~Company, ~~equity~~as ~~section of~~ the ~~Company’s~~parties ~~balance~~may ~~sheet~~agree.

The Company will pay a cash fee equal to 5% of the ~~following~~aggregate issales price of securities sold in the financing to introduced parties and a ~~reconciliation~~cash fee equal to 1% of the ~~Company’s~~aggregate ~~Common~~sales ~~Stock~~price of ~~subject~~public or private securities sold in a financing transaction to ~~possible~~investors ~~redemption~~other asthan introduced parties (collectively, the “Financing Fee”). If such sale of ~~September~~securities 30occurs through multiple closings, ~~2024~~then ~~and~~a ~~December~~pro rata portion of such fee shall be paid upon each ~~31,~~closing. ~~2023:~~The Financing Fee will be paid in cash from the flow of funds from the Financing.

~~SCHEDULE~~The OFCompany ~~COMMON~~will ~~STOCK~~pay ~~REDEMPTION~~Chardan up to $150,000 in aggregate for reimbursable out of pocket expenses.

	Common Shares Subject to Possible Redemption
Balance, December 31, 2022	$	19,571,562
Deposits to Trust Account		1,070,000
Remeasurement of common stock subject to possible redemption		755,103
Taxes withdrawn from Trust Account		(898,940	)
Redemption of common stock		(8,044,313	)
Balance, December 31, 2023		12,453,412
Deposits to Trust Account		395,000
Redemption of common stock		(7,367,204	)
Taxes withdrawn from Trust Account		(40,050	)
Remeasurement of common stock subject to possible redemption		352,471
Balance, September 30, 2024	$	5,793,629

On April 24, 2024, Chardan resigned its role as M&A/Capital Markets Advisor and terminated the M&A Agreement solely with respect to the Company’s contemplated business combination with Xtribe.

~~NOTE~~On January 15, 2026, the Company issued to Chardan a formal notice of termination of the M&A Agreement. The termination takes effect 745 –days ~~STOCKHOLDERS’~~from ~~DEFICIT~~the date of this notice.

~~Common~~As of March 31, 2025 and December 31, 2024, the Company ~~Stock~~recorded deferred underwriting commissions of $4,025,000 payable to Chardan only upon completion of its Initial Business Combination.

~~The Company’s Certificate of Incorporation authorizes the issuance of 100,000,000 shares of Common Stock, par value $0.0001, and 1,000,000 shares of undesignated preferred stock, par value $0.0001.~~20

~~In March~~NOTE ~~2021,~~6 ~~the~~– ~~Company~~COMMON ~~issued~~STOCK ~~2,875,000~~SUBJECT ~~Founder~~TO ~~Shares~~POSSIBLE ~~at a price of approximately $0.01 per share for total cash of $25,000. There are no shares of preferred stock outstanding as of September 30, 2024 and December, 31, 2023.~~REDEMPTION

~~Rights~~The Company’s Common Stock features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, Common Stock subject to possible redemption is presented at redemption value as temporary equity, outside of the stockholders’ equity section of the Company’s balance sheet.

The ~~registration~~ ~~statement~~following ~~pursuant~~is toa ~~which~~reconciliation ~~the Company registered its securities offered in the Initial Public Offering was declared effective on September 14, 2021. On September 17, 2021, the Company consummated its Initial Public Offering~~ of ~~10,000,000 Units. Each Unit consists of one share of Common Stock of~~ the Company~~, $0.0001 par value per share, one redeemable warrant, with each Public Warrant entitling~~’s ~~the holder thereof to purchase one-half (1/2) of one share of~~ Common Stock ~~at an exercise price of $11.50 per whole share,~~ subject to ~~adjustment,~~ ~~and~~possible ~~one~~redemption ~~Right,~~as ~~with each Right entitling the holder thereof to receive one-fifteenth (1/15)~~ of ~~one~~March ~~share~~31, of2025 Common Stock upon the consummation by the Company of an Initial Business Combination. Each Right may be traded separately. If the Company is unable to complete an Initial Business Combination within the required time period and ~~the~~December ~~Company liquidates the funds held in the Trust Account~~31, ~~holders~~ ~~of Rights will not receive any such funds for their Rights, and the Rights will expire worthless.~~2024:

~~Public~~ SCHEDULE ~~Warrants~~OF COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION

Each redeemable warrant entitles the registered holder to purchase one half of one share of Common Stock at a price of $11.50 per full share, subject to adjustment as discussed below, at any time commencing on the later of the completion of an Initial Business Combination and 12 months from the closing of the Initial Public Offering. No warrants will be exercisable for cash unless the Company has an effective and current registration statement covering the shares of Common Stock issuable upon exercise of the warrants and a current prospectus relating to such shares of Common Stock. Notwithstanding the foregoing, if a registration statement covering the shares of Common Stock issuable upon exercise of the warrants is not effective within 90 days from the consummation of the Initial Business Combination, warrant holders may, until such time as there is an effective registration statement and during any period when we shall have failed to maintain an effective registration statement, exercise warrants on a cashless basis. The warrants will expire five years from the consummation of an Initial Business Combination.

	Common Shares Subject to Possible Redemption

Balance, December 31, 2023	$	12,453,412
Deposits to Trust Account		485,000
Remeasurement of common stock subject to possible redemption		415,047
Taxes withdrawn from Trust Account		(40,050	)
Amount owed to Trust Account in connection with over withdrawal		97,434
Redemption of common stock		(10,168,702	)
Balance, December 31, 2024		3,242,141
Deposits to Trust Account		90,000
Remeasurement of common stock subject to possible redemption		26,128
Balance, March 31, 2025	$	3,358,269

21NOTE 7 – STOCKHOLDERS’ DEFICIT

~~The Company~~Common may call the outstanding warrants for redemption (excluding the Private Placement Warrants and warrants that may be issued upon conversion of working capital loans), in whole and not in part, at a price of $0.01 per warrant:Stock

●The atCompany’s ~~any~~Certificate ~~time~~of ~~while~~Incorporation authorizes the ~~warrants~~issuance ~~are exercisable; ● upon not less than 30 days’ prior written notice~~ of ~~redemption to each warrant holder; ● if~~100, ~~and only if~~000,000 ~~the reported last sale price of the~~ shares of Common Stock, ~~equals~~par orvalue ~~exceeds~~ $160.~~50 per share (as adjusted for stock splits~~0001, ~~stock dividends, reorganizations~~ and ~~recapitalizations)~~1, ~~for any 20 trading days within a 30-day trading period ending on the third business day prior to the notice of redemption to warrant holders (the “Force-Call Provision”)~~000,000 ~~and ● if, and only if, there is a current registration statement in effect with respect to the~~ shares of ~~Common~~undesignated ~~Stock~~preferred ~~underlying~~stock, ~~such~~par ~~warrants at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the date of redemption~~value $0.0001.

~~The right~~In toMarch ~~exercise~~2021, ~~will be forfeited unless~~ the ~~warrants~~Company ~~are~~issued ~~exercised~~2,875,000 ~~prior~~Founder Shares toat ~~the~~a ~~date~~price ~~specified in the notice~~ of ~~redemption~~approximately $0.01 Onper ~~and after~~share ~~the~~for ~~redemption~~total ~~date,~~cash ~~a record holder~~ of a$25,000. ~~warrant~~There ~~will~~are ~~have~~ no ~~further~~shares ~~rights~~of ~~except~~preferred tostock ~~receive~~outstanding ~~the~~as ~~redemption price for such holder’s~~of ~~warrant~~March ~~upon~~31, ~~surrender~~2025 ofand ~~such~~December ~~warrant~~31, 2024.

The redemption criteria for our warrants have been established at a price which is intended to provide warrant holders a reasonable premium to the initial exercise price and provide a sufficient differential between the then-prevailing share price and the warrant exercise price so that if the share price declines as a result of our redemption call, the redemption will not cause the share price to drop below the exercise price of the warrants.Rights

If The registration statement pursuant to which the Company registered ~~calls~~its securities offered in the ~~warrants~~Initial ~~for~~Public ~~redemption~~Offering aswas ~~described~~declared ~~above~~effective on September 14, ~~management~~2021. On September 17, 2021, the Company consummated its Initial Public Offering of 10,000,000 Units. Each Unit consists of one share of Common Stock of the Company, $0.0001 ~~will~~par ~~have~~value per share, one redeemable warrant, with each Public Warrant entitling the ~~option~~holder thereof to ~~require~~purchase ~~all~~one-half ~~holders~~(1/2) ~~that~~of ~~wish~~one toshare of Common Stock at an exercise ~~warrants~~price of $11.50 per whole share, subject to doadjustment, soand onone aRight, ~~“cashless~~with ~~basis~~each Right entitling the holder thereof to receive one-fifteenth (1/15) of one share of Common Stock upon the consummation by the Company of an Initial Business Combination.” Each Right may be traded separately. If the Company is unable to complete an Initial Business Combination within the required time period and the Company liquidates the funds held in the Trust Account, holders of Rights will not receive any such funds for their Rights, and the Rights will expire worthless.

In addition, if (x) the Company issues additional shares of Common Stock or equity-linked securities for capital raising purposes in connection with the closing of the Initial Business Combination at an issue price or effective issue price of less than $9.50 per share of Common Stock (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for funding the Initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Common Stock during the 20 trading day period starting on the trading day prior to the day on which the Company consummates the Initial Business Combination (such price, the “Market Value”) is below $9.50 per share, the Warrant Price shall be adjusted (to the nearest cent) to be equal to 115% of the Market Value, and the last sales price of the Common Stock that triggers the Company’s right to redeem the Warrants pursuant to Section 6.1 below shall be adjusted (to the nearest cent) to be equal to 165% of the Market Value.21

The Private Placement Warrants, as well as any warrants the Company issues to the Sponsor, officers, directors, initial stockholders or their affiliates in payment of working capital loans made to the Company, will be identical to the warrants underlying the Units offered in the Initial Public ~~Offering.~~Warrants

~~NOTE~~Each redeemable warrant entitles the registered holder 8to –purchase ~~SUBSEQUENT~~one ~~EVENTS~~half of one share of Common Stock at a price of $11.50 per full share, subject to adjustment as discussed below, at any time commencing on the later of the completion of an Initial Business Combination and 12 months from the closing of the Initial Public Offering. No warrants will be exercisable for cash unless the Company has an effective and current registration statement covering the shares of Common Stock issuable upon exercise of the warrants and a current prospectus relating to such shares of Common Stock. Notwithstanding the foregoing, if a registration statement covering the shares of Common Stock issuable upon exercise of the warrants is not effective within 90 days from the consummation of the Initial Business Combination, warrant holders may, until such time as there is an effective registration statement and during any period when we shall have failed to maintain an effective registration statement, exercise warrants on a cashless basis. The warrants will expire five years from the consummation of an Initial Business Combination.

~~Management evaluated~~The ~~subsequent~~Company ~~events~~may ~~and~~call ~~transactions~~the ~~that~~outstanding ~~occurred~~warrants ~~after~~for redemption (excluding the ~~balance~~Private ~~sheet~~Placement ~~date,~~Warrants upand towarrants ~~the date~~ that ~~the~~may ~~financial~~be ~~statements were~~ issued. ~~Based~~ upon ~~this~~conversion ~~review,~~of ~~other~~working ~~than~~capital ~~as set forth below~~loans), ~~management~~in ~~did~~whole and not ~~identify~~in ~~any~~part, ~~subsequent~~at ~~events~~a ~~that~~price ~~would~~of ~~have required~~$0.01 ~~adjustment~~per ~~or disclosure in the financial statements.~~warrant:

~~October Extension~~● at any time while the warrants are exercisable; ● upon not less than 30 days’ prior written notice of redemption to each warrant holder; ● if, and only if, the reported last sale price of the shares of Common Stock equals or exceeds $16.50 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations), for any 20 trading days within a 30-day trading period ending on the third business day prior to the notice of redemption to warrant holders (the “Force-Call Provision”), and ● if, and only if, there is a current registration statement in effect with respect to the shares of Common Stock underlying such warrants at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the date of redemption.

~~On October~~The ~~15,~~right ~~2024,~~to ~~the~~exercise ~~Company~~will ~~effected~~be ~~the~~forfeited ~~fifth~~unless ~~drawdown of $30,000 under~~ the warrants ~~Fourth~~are ~~Promissory~~exercised ~~Note~~prior ~~and caused the Sponsor~~ to ~~deposit such sum into~~ the ~~Trust~~date ~~Account~~specified in ~~connection with~~ the ~~extension~~notice of ~~the~~redemption. ~~Termination~~On ~~Date~~and ~~from~~after ~~October~~the ~~17,~~redemption ~~2024 to November 17~~date, ~~2024. Such~~a ~~amounts~~record ~~will~~holder ~~be distributed either to: (i) all~~ of ~~the holders of Public Shares upon the Company’s liquidation or (ii) holders~~a ofwarrant ~~Public~~will ~~Shares who elect to~~ have ~~their~~no ~~shares~~further ~~redeemed~~rights inexcept ~~connection with (a) a vote~~ to ~~approve~~receive ~~certain~~the ~~specified~~redemption ~~amendments~~price tofor ~~the~~such ~~Company~~holder’s ~~Certificate~~warrant ofupon ~~Incorporation~~surrender ~~or (b) the consummation~~ of asuch ~~Business Combination~~warrant.

~~November~~The redemption criteria for our warrants have been ~~Extension~~established at a price which is intended to provide warrant holders a reasonable premium to the initial exercise price and provide a sufficient differential between the then-prevailing share price and the warrant exercise price so that if the share price declines as a result of our redemption call, the redemption will not cause the share price to drop below the exercise price of the warrants.

OnIf ~~November 14, 2024,~~ the Company ~~effected~~calls the ~~sixth~~warrants ~~drawdown~~for ofredemption ~~$30,000 under the Fourth Promissory Note and caused the Sponsor to deposit such sum~~as ~~into~~described ~~the~~above, ~~Trust~~management ~~Account in connection with the extension~~ of the ~~Termination~~Company ~~Date from November 17, 2024 to December 17, 2024. Such amounts~~ will behave ~~distributed~~the ~~either~~option to: ~~(i)~~require all ~~of the~~ holders ofthat ~~Public~~wish ~~Shares upon the Company’s liquidation or (ii) holders of Public Shares who elect~~ to ~~have~~exercise ~~their~~warrants ~~shares redeemed in connection with (a) a vote~~ to ~~approve~~do ~~certain~~so ~~specified~~on ~~amendments to the Company’s Certificate of Incorporation or (b) the consummation of~~ a ~~Business Combination~~“cashless basis.”

~~Special~~In addition, if (x) the Company issues additional ~~Meeting~~shares of ~~Stockholders~~Common Stock or equity-linked securities for capital raising purposes in connection with the closing of the Initial Business Combination at an issue price or effective issue price of less than $9.50 per share of Common Stock (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for funding the Initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Common Stock during the 20 trading day period starting on the trading day prior to the day on which the Company consummates the Initial Business Combination (such price, the “Market Value”) is below $9.50 per share, the Warrant Price shall be adjusted (to the nearest cent) to be equal to 115% of the Market Value, and the last sales price of the Common Stock that triggers the Company’s right to redeem the Warrants pursuant to Section 6.1 below shall be adjusted (to the nearest cent) to be equal to 165% of the Market Value.

~~On November~~The 1,Private ~~2024,~~Placement ~~the Company filed a preliminary proxy statement with the SEC to amend its Certificate of Incorporation to extend the Termination Date from December 17~~Warrants, ~~2024~~as towell ~~the~~as ~~Charter~~any ~~Extension Date upon the deposit into the Trust Account of $30,000, to be loaned~~warrants to the Company byissues ~~the Sponsor or one or more of its affiliates, members or third-party designees, and~~ to ~~allow~~ the ~~Company~~Sponsor, ~~without another stockholder vote~~officers, ~~to elect to extend the Termination Date to for up to five Additional Extensions, by resolution of the Company’s board of~~ directors, ifinitial ~~requested~~stockholders ~~by the Company’s Sponsor, and upon five days’ advance notice prior to the applicable Termination Date, until June 17, 2025,~~ or atheir ~~total~~affiliates ofin uppayment ~~to six months after December 17, 2024, unless the closing~~ of anworking ~~Initial~~capital ~~Business~~loans ~~Combination~~made ~~shall have occurred prior thereto, subject~~ to the ~~deposit of an additional $30~~Company,~~000~~ per Additional Extension into the Trust Account by the Sponsor or its affiliates, members or third-party designees. If the proposal to extend the Termination Date is approved and effective, the Company’s stockholders may elect to redeem their shares of Common Stock. An electing stockholder will be ~~entitled~~identical to ~~receive a per-share price, payable in cash, equal to~~ the ~~aggregate~~warrants ~~amount~~underlying ~~then on deposit in~~ the ~~Trust~~Units ~~Account,~~offered ~~including interest (net of taxes payable), divided by the number of then-outstanding shares of Common Stock issued as part of the units sold~~ in the Initial Public Offering. This redemption right will apply to each public stockholder regardless of whether and how such holder votes on the proposal. The removal from the Trust Account of such amounts would reduce the amount remaining in the Trust Account and increase the percentage interest of the Company held by the Sponsor.

22NOTE 8 — SEGMENT INFORMATION

~~Item~~ASC Topic 280, “Segment Reporting,” establishes 2standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. ~~Management~~Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s ~~Discussion~~chief ~~and~~operating ~~Analysis~~decision ofmaker, ~~Financial~~or ~~Condition~~group, ~~and~~in ~~Results~~deciding ofhow ~~Operations~~to allocate resources and assess performance.

The ~~following~~ ~~discussion and analysis of the~~ Company’s ~~financial~~Chief ~~condition~~Executive ~~and~~Officer ~~results~~has ~~of operations should be read in conjunction~~been ~~with~~identified ~~our~~as ~~audited financial statements and~~ the ~~notes~~chief ~~related~~operating ~~thereto~~decision ~~which~~maker ~~are included in the section of our Annual Report on Form 10-K entitled~~ (“~~Item 8. Financial Statements and Supplementary Data.~~CODM” ~~Certain statements contained in this Quarterly Report on Form 10-Q~~), ~~including,~~who ~~without~~reviews ~~limitation, statements in~~ the ~~discussion~~operating ~~and~~results ~~analysis set forth below may constitute “forward-looking statements”~~ for purposes of federal securities laws. Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the ~~future.~~Company Inas ~~addition, any~~a ~~statements~~whole ~~that refer~~ to ~~projections, forecasts or other characterizations of future events or circumstances, including any underlying~~ ~~assumptions,~~make ~~are~~decisions ~~forward-looking~~about ~~statements.~~allocating ~~The~~resources words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would” and ~~variations~~assessing ~~and~~financial ~~similar words and expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking~~performance. The forward-looking statements contained in this Quarterly Report on Form 10-Q are based on our current expectations and beliefs concerning future developments and their potential effects on us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risksAccordingly, ~~uncertainties~~management ~~(some~~has ofdetermined ~~which are beyond our control) or other assumptions~~ that ~~may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including but not limited to those factors set forth under~~ the ~~headings “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in our~~Company ~~Annual~~only ~~Report~~has ~~on Form 10-K. Should~~ one oroperating more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statementssegment. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

~~References in~~When ~~this~~evaluating ~~discussion~~the ~~and~~Company’s ~~analysis~~performance toand making ~~“we,”~~key ~~“us,”~~decisions ~~“our”~~regarding orresource allocation the ~~“Company”~~CODM ~~refer~~reviews toseveral ~~WinVest Acquisition~~key ~~Corp.~~metrics, which include the following:

~~Overview~~SCHEDULE OF SEGMENT INFORMATION

We are a blank check company incorporated as a Delaware corporation and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the “Initial Business Combination”). We intend to effectuate our Initial Business Combination using cash from the proceeds of our initial public offering (the “Initial Public Offering”), our capital stock, debt or a combination of cash, stock and debt.

	For the Three Months Ended March 31, 2025			For the Three Months Ended March 31, 2024
General and administrative expenses	$	(730,258	)	$	(225,101	)
Interest earned on cash and money market funds held in Trust Account	$	25,714		$	142,655

23The key measures of segment profit or loss reviewed by our CODM are interest earned on cash held in Trust Account and general and administrative expenses. The CODM reviews interest earned on cash held in Trust Account to measure and monitor shareholders value and determine the most effective strategy of investment with the Trust Account funds while maintaining compliance with the Investment Management Trust Agreement (the “Trust Agreement”) by and between the Company and Continental Stock Transfer & Trust Co. General and administrative expenses are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination within the business combination period. The CODM also reviews general and administrative costs to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget.

As of September 30, 2024 and the date of this filing, we had not commenced core operations. All activity for the period from March 1, 2021 (inception) through September 30, 2024 related to our formation, raising funds through our Initial Public Offering, identifying a target company for an Initial Business Combination and working to consummate our Initial Business Combination with Xtribe (as defined below). We will not generate any operating revenues until after the completion of the Initial Business Combination, at the earliest. We generate non-operating income in the form of interest and dividend income from the proceeds derived from the Initial Public Offering.22

~~The~~NOTE ~~stock~~9 ~~exchange~~– ~~listing~~SUBSEQUENT rules provide that the Initial Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80% of the value of the assets held in a trust account (the “Trust Account”) in the United States maintained by Continental Stock Transfer & Trust Company (“Continental”), as trustee (excluding the deferred underwriting commissions and taxes payable), at the time of the our signing a definitive agreement in connection with the Initial Business Combination. We will only complete an Initial Business Combination if the post-Initial Business Combination company owns or acquires 50% or more of the outstanding voting securities of the target company or otherwise acquires a controlling interest in the target company sufficient for it not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”). There is no assurance that we will be able to successfully effect an Initial Business Combination.EVENTS

~~Our amended~~Management ~~and~~evaluated ~~restated~~subsequent ~~certificate~~events ofand ~~incorporation (as amended, the “Certificate of Incorporation”) provided that we had until~~transactions ~~December 17, 2022 to complete an Initial Business Combination; provided, however,~~ that ifoccurred weafter ~~anticipated we may not be able to consummate an Initial Business Combination by December 17, 2022, we, by resolution of~~ the ~~board~~balance ofsheet ~~directors if requested by our sponsor~~date, ~~WinVest SPAC LLC (the “Sponsor”), could extend the period of time to consummate an Initial Business Combination~~ up to ~~two times, each by an additional three months (up until June 17, 2023), subject to~~ the ~~deposit~~date ofthat ~~additional funds into~~ the ~~Trust~~financial ~~Account~~statements bywere ~~our Sponsor or its affiliates or designees~~issued. OnBased ~~November~~upon ~~30,~~this ~~2022~~review, ~~we held a special meeting of stockholders (the “November 2022 Extension Meeting”) to, among~~ other ~~things, approve an amendment to our Certificate of Incorporation to extend the date by which we must~~than ~~consummate~~as anset ~~Initial~~forth ~~Business Combination (the “Termination Date”) from December 17~~below, ~~2022~~management todid ~~January~~not ~~17,~~identify ~~2023,~~any ~~and~~subsequent toevents ~~allow us,~~that ~~without~~would ~~another~~have ~~stockholder~~required ~~vote,~~adjustment to elect to extend the Termination Date on a monthly basis for up to five times by an additional one month each time after January 17, 2023, by resolution of our board of directors, if requested by the Sponsor, and upon five days’ advance notice prior to the applicable Termination Date, until June 17, 2023, or adisclosure ~~total~~in ~~of up to six months after~~ the ~~original Termination~~financial ~~Date of December 17, 2022, unless the closing of the Initial Business Combination shall have occurred prior thereto (the “November 2022 Extension Amendment”)~~statements. Our Sponsor agreed that if the November 2022 Extension Amendment was approved at the November 2022 Extension Meeting, it or one or more of its affiliates, members or third-party designees would lend to us up to $750,000 to be deposited into the Trust Account.

~~The stockholders~~April ~~approved the November 2022~~ Extension Amendment at the November 2022 Extension Meeting. Accordingly, on December 5, 2022, we issued an unsecured promissory note in the principal amount of $750,000 (the “First Extension Note”) to our Sponsor, pursuant to which our Sponsor agreed to loan to us up to $750,000 in connection with the extension of the Termination Date. The First Extension Note does not bear interest and matures upon the earlier of (a) the closing of the Initial Business Combination and (b) our liquidation. In the event that we do not consummate an Initial Business Combination, the First Extension Note will be repaid only from amounts remaining outside of the Trust Account, if any. Upon the consummation of an Initial Business Combination, our Sponsor may elect to convert any portion or all of the amount outstanding under the First Extension Note into private warrants to purchase shares of our common stock, par value $0.0001 per share (“Common Stock”), at a conversion price of $0.50 per private warrant. Such private warrants will be identical to the Private Placement Warrants (as defined below) issued to our Sponsor at the time of our Initial Public Offering. The balance on the First Extension Note as of September 30, 2024 and December 31, 2023 was $750,000.

InOn April 16, 2025, the Company effected the fifth drawdown of $30,000 ~~connection~~under ~~with~~the Fifth Extension Note and caused the ~~vote~~Sponsor to ~~approve~~deposit such sum into the ~~November~~Trust ~~2022~~Account ~~Extension~~in ~~Amendment,~~connection with the ~~holders~~extension of the 9Termination Date from April 17,~~606,887~~ ~~shares~~2025 ofto ~~Common~~May ~~Stock~~17, ~~issued~~2025. ~~as part~~Such ofamounts ~~the~~will ~~Units~~be ~~(as~~distributed ~~defined~~either ~~below~~to: (i) ~~sold~~all inof ~~our~~the ~~Initial~~holders of Public ~~Offering~~Shares upon the Company’s liquidation, or (“ii) holders of Public Shares”) ~~properly~~who ~~exercised~~elect ~~their right~~ to ~~redeem~~have their shares ~~(and~~redeemed ~~did~~in connection ~~not~~with ~~withdraw their redemption~~(a) ~~for~~a ~~cash~~vote atto aapprove ~~redemption~~certain ~~price~~specified ofamendments ~~approximately~~to ~~$10.20~~the ~~per~~Company’s Certificate ~~share,~~of ~~for an~~Incorporation ~~aggregate~~or ~~redemption~~(b) ~~amount~~the consummation of ~~approximately~~an ~~$98.0~~Initial ~~million~~Business Combination.

24May Extension

On ~~June~~ 12May 15, ~~2023~~2025, wethe ~~held~~Company effected athe ~~second~~sixth ~~special~~drawdown ~~meeting~~ of ~~stockholders~~$30,000 under (the ~~“June~~Fifth ~~2023~~ Extension ~~Meeting”)~~Note atand ~~which~~caused the ~~stockholders approved,~~Sponsor ~~among~~to ~~other~~deposit ~~things,~~such ~~(i)~~sum aninto ~~amendment~~the toTrust ~~our~~Account ~~Certificate~~in ofconnection ~~Incorporation~~with (the ~~“June 2023 Extension Amendment”)~~extension toof ~~extend~~ the Termination Date from ~~June~~May 17, ~~2023~~2025 to ~~July~~June 17, ~~2023,~~2025. ~~and~~Such toamounts ~~allow~~will ~~us,~~be ~~without~~distributed ~~another~~either ~~stockholder vote,~~ to: ~~elect to extend the Termination Date on a monthly basis for up to five times by an additional one month~~ (~~or such shorter period as may be requested by the Sponsor~~i) ~~after~~all ~~July 17, 2023, by resolution~~ of ~~our~~the ~~board~~holders of ~~directors,~~Public Shares ifupon ~~requested by~~ the ~~Sponsor, and upon five days~~Company’s ~~advance notice~~liquidation ~~prior to the applicable Termination Date, until December 17, 2023,~~ or a(ii) ~~total~~holders of upPublic toShares ~~six~~who ~~months~~elect ~~after~~to ~~June 17, 2023, unless the closing of our Initial Business Combination shall~~ have ~~occurred~~their ~~prior~~shares ~~thereto,~~redeemed ~~and~~in connection with (iia) ana ~~amendment~~vote ~~(the~~to ~~“Redemption~~approve ~~Limitation Amendment”)~~certain tospecified ~~eliminate~~amendments ~~from~~to the Company’s Certificate of Incorporation ~~the~~or ~~limitation~~(b) ~~that~~the ~~we may not consummate any business combination unless we have net tangible assets of at least $5,000,001 upon~~ consummation of ~~such business combination. Following stockholder approval~~an ofInitial ~~the~~Business June 2023 Extension Amendment and the Redemption Limitation Amendment at the June 2023 Extension Meeting, on June 16, 2023, we filed the June 2023 Extension Amendment and the Redemption Limitation Amendment with the Delaware Secretary of StateCombination.

~~In connection with the approval of the~~ June ~~2023~~2025 ~~Extension Amendment on June 12, 2023, on June 13, 2023, we issued an unsecured promissory~~Special ~~note~~Meeting ~~in the principal amount~~ of $390,000 (the “Second Extension Note”) to our Sponsor, pursuant to which our Sponsor agreed to loan us up to $390,000 in connection with the extension of the Termination Date. The Second Extension Note does not bear interest and matures upon the earlier of (a) the closing of an Initial Business Combination and (b) our liquidation. In the event that we do not consummate an Initial Business Combination, the Second Extension Note will be repaid only from amounts remaining outside of the Trust Account, if any. Upon the consummation of the Initial Business Combination, our Sponsor may elect to convert any portion or all of the amount outstanding under the Second Extension Note into private warrants to purchase shares of our Common Stock at a conversion price of $0.50 per private warrant. Such private warrants will be identical to the Private Placement Warrants issued to our Sponsor at the time of the Initial Public Offering. The balance on the Second Extension Note as of September 30, 2024 and December 31, 2023 was $390,000.Stockholders

InOn ~~connection~~June ~~with~~16, 2025, the ~~vote~~Company toheld ~~approve~~a special meeting of stockholders, at which the ~~June~~stockholders ~~2023~~approved, among other things, the June 2025 Extension Amendment, to extend the ~~holders~~Termination ofDate ~~627~~from June 17,~~684~~ ~~Public~~2025 ~~Shares~~to ~~properly~~July ~~exercised~~17, ~~their~~2025, and to allow the Company, without another stockholder ~~right~~vote, to ~~redeem~~elect ~~their~~to ~~shares~~extend ~~(and~~the ~~did~~Termination ~~not~~Date ~~withdraw~~on ~~their~~a ~~redemption)~~monthly basis for ~~cash~~up atto atwo ~~redemption~~times ~~price~~by ofan ~~approximately~~additional ~~$10.71~~one ~~per~~month ~~share,~~each time after July ~~for~~17, an2025, ~~aggregate~~by ~~redemption~~resolution ~~amount~~of the Company’s board of $6directors,~~721~~ if requested by the Sponsor,~~795.~~ ~~Following~~and ~~such~~upon ~~redemptions~~five days’ advance notice prior to the applicable Termination Date, ~~$13~~until September 17,~~551~~ 2025,~~331~~ ~~was~~or ~~left~~a intotal ~~Trust~~of ~~Account~~up ~~and~~to 1three months after June 17,~~265~~ 2025,~~429~~ ~~Public~~unless the ~~Shares~~closing ~~remained~~of ~~outstanding~~the Company’s Initial Business Combination shall have occurred prior thereto, by causing $30,000 to be deposited into the Trust Account for each such extension.

OnIn ~~November~~connection ~~30,~~with ~~2023, we held a special meeting of stockholders, at which~~ the vote ~~stockholders approved, among other things, an amendment~~ to ~~our~~ ~~Certificate~~approve ~~of Incorporation (~~the ~~“November~~June ~~2023~~2025 Extension Amendment~~”) to~~, ~~extend~~ the ~~Termination~~holders ~~Date~~of ~~from~~527 ~~December~~Public ~~17,~~Shares ~~2023~~properly toexercised ~~January~~their right ~~17, 2024, and~~ to ~~allow~~redeem ~~us,~~their ~~without~~shares ~~another~~(and ~~stockholder~~did ~~vote,~~not towithdraw ~~elect to~~their ~~extend~~redemption) ~~the~~for ~~Termination~~cash ~~Date~~at on a ~~monthly~~redemption ~~basis~~price ~~for~~of upapproximately to$12.92 ~~five~~per ~~times~~share, for by an ~~additional~~aggregate ~~one~~redemption ~~month~~amount ~~each time after January 17, 2023, by resolution~~ of ~~our~~approximately ~~board of directors~~$6,808. ifFollowing ~~requested~~such ~~by the Sponsor~~redemptions, ~~and~~approximately ~~upon five days’ advance notice prior to the applicable Termination Date~~$3, ~~until June 17~~370,477 ~~2024,~~was orleft ain ~~total~~trust ~~of up to six months after December 17, 2023, unless the closing of our Initial Business Combination~~and ~~shall have occurred prior thereto~~258,251 byPublic ~~causing~~Shares ~~$55,000~~remained ~~to be deposited into the Trust Account for each such extension~~outstanding.

InFollowing ~~connection with~~ the approval of the ~~November~~June ~~2023~~2025 Extension Amendment ~~on November 30~~, ~~2023,~~ on ~~December~~June 1316, ~~2023~~2025, ~~we issued an unsecured promissory note in~~ the ~~principal~~Company ~~amount~~issued ~~of $330,000 (~~the ~~“Third~~Sixth Extension Note”) to ~~our~~the Sponsor, pursuant to which ~~our~~the Sponsor agreed to loan usto the Company up to $~~330~~90,000 in connection with the ~~extension~~termination ofdate ~~the~~by ~~Termination~~which ~~Date.~~the Company must ~~The~~consummate ~~Third~~an ~~Extension~~initial business combination. The Note does not bear interest and matures upon the earlier of (a) the closing of ana ~~Initial~~ Business Combination and (b) ~~our~~the Company’s liquidation. In the event that wethe doCompany does not consummate ana ~~Initial~~ Business Combination, the ~~Third Extension~~ Note will be repaid only from amounts remaining outside of the Trust Account, if any. ~~The balance on the Third Extension Note as of September 30, 2024 and December 31, 2023 was $330,000 and $55,000, respectively.~~

InAt ~~connection~~the ~~with~~special meeting, the ~~vote~~Company’s tostockholders ~~approve~~also ~~the~~voted ~~November~~in ~~2023~~favor ~~Extension~~of ~~Amendment,~~a ~~the~~proposal ~~holders~~to ofeffect ~~122,306~~a ~~Public~~corresponding ~~Shares~~amendment ~~properly~~to ~~exercised~~the ~~their~~Trust ~~right~~Agreement toby ~~redeem~~and ~~their~~between ~~shares~~the (Company and ~~did~~Continental ~~not~~Stock ~~withdraw~~Transfer ~~their~~& ~~redemption~~Trust Co. (the “Trustee”) ~~for~~to ~~cash~~extend atthe adate ~~redemption~~on which ~~price~~the ofTrustee ~~approximately~~must ~~$10.81~~liquidate ~~per~~the ~~share, for~~Trust anAccount ~~aggregate~~from ~~redemption~~June ~~amount~~17, of2025 ~~approximately~~to $1July 17,~~322~~ 2025,~~518.~~ ~~Following~~and ~~such~~to ~~redemptions~~allow the Company, ~~approximately~~without ~~$12~~another stockholder vote,~~360,810~~ ~~was~~to ~~left~~elect into further extend the ~~Trust~~ ~~Account~~liquidation ~~and~~date ~~1,143,123~~on ~~shares~~a ofmonthly ~~Public~~basis ~~Shares~~for ~~remained~~up ~~outstanding~~to two times from July 17, 2025 to September 17, 2025.

25The Company has caused $90,000 to be deposited into the Trust Account in connection with three drawdowns under the Sixth Extension Note pursuant to the extension of the termination date to September 17, 2025. Such amounts will be distributed either to: (i) all of the holders of shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”), issued as part of the units sold in the IPO (the “Public Shares”) upon the Company’s liquidation or (ii) holders of Public Shares who elect to have their shares redeemed in connection with the consummation of a Business Combination.

OnTrust ~~May 9, 2024, we entered into a Business Combination~~ Agreement ~~(the~~Disbursement “Original Business Combination Agreement”), by and among WinVest, WinVest Merger Sub I, LLC, a Delaware limited liability company and wholly owned subsidiary of WinVest, WinVest Merger Sub II, LLC, a Delaware limited liability company and wholly owned subsidiary of WinVest, Xtribe P.L.C., a public limited company incorporated and registered in England and Wales with number 07878011 (“Xtribe PLC”), and Xtribe Group, LLC, a Delaware limited liability company and wholly-owned subsidiary of Xtribe PLC. On September 16, 2024, we entered into an Amended and Restated Business Combination Agreement (the “A&R Business Combination Agreement”), by and among WinVest, WinVest (BVI) Ltd., a British Virgin Islands business company registered with company number 2157117 and a wholly owned subsidiary of WinVest, Xtribe PLC and Xtribe (BVI) Ltd., a British Virgin Islands business company registered with company number 2157137 and a wholly-owned subsidiary of Xtribe PLC (together with Xtribe PLC, “Xtribe”), which amends and restates the Original Business Combination Agreement in its entirety.Amendment

On June 317, ~~2024~~2025, wethe ~~held~~Company aand ~~special meeting of stockholders, at which~~ the ~~stockholders~~Trustee ~~approved,~~entered ~~among~~into ~~other things,~~ an amendment to ~~our Certificate of Incorporation (~~the ~~“June~~Trust ~~2024~~Agreement ~~Extension Amendment”)~~ to ~~extend~~provide ~~the~~that ~~Termination~~in ~~Date~~the ~~from~~event ~~June~~of ~~17,~~the Company’s ~~2024 to July 17~~dissolution, ~~2024,~~up ~~and~~ to ~~allow us~~$100,000 of ~~without~~interest ~~another~~income ~~stockholder~~earned ~~vote,~~on ~~to elect to extend~~ the ~~Termination~~Trust ~~Date~~Account onmay abe ~~monthly~~used ~~basis for up~~ to ~~five~~cover ~~times~~the byCompany’s anliquidation ~~additional~~and ~~one~~dissolution ~~month each time after July 17~~expenses, ~~2024, by resolution~~ ofconsistent ~~our~~with ~~board of directors, if requested by~~ the ~~Sponsor, and upon five days~~Company’s ~~advance~~historic ~~notice~~disclosure ~~prior~~on to the ~~applicable~~terms ~~Termination Date, until December 17, 2024, or a total~~ of ~~up to six months after June 17, 2024, unless~~ the ~~closing of our Initial Business Combination shall have occurred prior thereto, by causing $30,000 to be deposited into the~~ Trust ~~Account for each such extension~~Agreement.

~~Following the~~September ~~approval~~2025 ofSpecial ~~the~~Meeting ~~June 2024 Extension Amendment on June 3, 2024, on June 12, 2024, we issued an unsecured promissory note in the principal amount~~ of $180,000 (the “Fourth Extension Note,” and collectively with the First Extension Note, the Second Extension Note and the Third Extension Note, the “Extension Notes”) to the Sponsor, pursuant to which the Sponsor agreed to loan us up to $180,000 in connection with the extension of the Termination Date. The Fourth Extension Note does not bear interest and matures upon the earlier of (a) the closing of an Initial Business Combination and (b) our liquidation. In the event that we do not consummate an Initial Business Combination, the Fourth Extension Note will be repaid only from amounts remaining outside of the Trust Account, if any. The balance on the Fourth Extension Note as of September 30, 2024 and December 31, 2023 was $120,000 and $0, respectively.Stockholders

~~Through the~~On ~~date~~September of16, ~~this report~~2025, wethe ~~have~~Company ~~effected~~held ~~drawdowns~~a special meeting of $1stockholders,~~650~~ at which the stockholders approved,~~000~~ ~~under~~among other things, the September 2025 Extension ~~Notes~~Amendment ~~and~~to ~~caused~~extend ~~such~~the Termination ~~sums~~Date from September 17, 2025 to beOctober ~~deposited~~17, ~~into~~2025, and to allow the ~~Trust~~Company, ~~Account~~without inanother ~~connection with~~stockholder ~~the~~vote, ~~extension~~to ofelect to extend the Termination Date ~~from~~on ~~December~~a ~~17,~~monthly ~~2022~~basis for up to ~~December~~five ~~17,~~times ~~2024.~~by ~~Such~~an ~~amounts~~additional ~~will~~one bemonth ~~distributed~~each ~~either~~time ~~to: (i)~~after ~~all~~October 17, 2025, by resolution of the ~~holders~~Company’s board of ~~Public~~directors, ~~Shares~~if ~~upon~~requested ~~our~~by ~~liquidation~~the orSponsor, ~~(ii)~~and ~~holders~~upon offive ~~Public~~days’ ~~Shares~~advance ~~who~~notice ~~elect~~prior to ~~have~~the ~~their~~applicable Termination ~~shares~~Date, ~~redeemed in~~until ~~connection~~March ~~with~~17, ~~(a)~~2026, or a ~~vote~~total of up to ~~approve~~six ~~certain~~months ~~specified~~after ~~amendments~~September to17, 2025, unless the closing of the Company’s Initial ~~Certificate~~Business ofCombination ~~Incorporation~~shall ~~or (b)~~have ~~the~~occurred ~~consummation~~prior ofthereto, anby ~~Initial~~causing ~~Business~~$30,000 ~~Combination~~to be deposited into the Trust Account for each such extension.

~~If we~~In ~~are~~connection ~~unable~~with the vote to ~~consummate~~approve ~~an Initial Business Combination within~~ the ~~allotted time period, we will, as promptly as possible but not~~September ~~more~~2025 ~~than~~Extension ~~ten business days thereafter~~Amendment, ~~redeem~~the ~~100%~~holders of ~~our~~38,215 ~~outstanding~~ Public Shares ~~for~~properly aexercised ~~pro~~their ~~rata~~right ~~portion~~to ofredeem ~~the~~their ~~funds~~shares ~~held in the Trust Account, including a pro rata portion of any interest earned on the funds held in the Trust Account~~ (~~less~~and ~~taxes~~did ~~payable~~not ~~and up~~withdraw totheir ~~$100,000 of interest to pay our dissolution expenses~~redemption), ~~and~~for ~~then~~cash ~~seek~~at ~~to dissolve and liquidate. However, we may not be able to distribute such amounts as~~ a ~~result~~redemption ofprice ~~claims~~ of ~~creditors~~approximately ~~which~~$13.37 ~~may~~per ~~take~~share, ~~priority~~for ~~over~~an ~~the~~aggregate ~~claims~~redemption amount of ~~our public stockholders~~approximately $511,042. InFollowing ~~the~~such ~~event~~redemptions, ofapproximately ~~our dissolution and liquidation~~$2,942,500 ~~the~~was ~~Rights~~left ~~(as~~in ~~defined~~trust ~~below)~~ and 220,036 Public ~~and~~Shares ~~Private~~remained ~~Placement Warrants will expire and will be worthless~~outstanding.

~~Results~~Following the approval of the September 2025 Extension Amendment, on September 16, 2025, the Company issued the Seventh Extension Note to the Sponsor, pursuant to which the Sponsor agreed to loan to the Company up to $180,000 in connection with the termination date by which the Company must consummate an initial business combination. The Note does not bear interest and matures upon the earlier of ~~Operations~~(a) the closing of a Business Combination and ~~Known~~(b) ~~Trends~~the orCompany’s liquidation. ~~Future~~In ~~Events~~the event that the Company does not consummate a Business Combination, the Note will be repaid only from amounts remaining outside of the Trust Account, if any.

~~All activities~~At ~~through~~the ~~September~~special 30meeting, ~~2024~~the ~~were~~Company’s ~~related to our organizational activities, preparation for our Initial Public Offering, and,~~stockholders ~~after~~also ~~our~~voted ~~Initial~~in ~~Public~~favor ~~Offering,~~of ~~identifying~~ a ~~target~~proposal ~~company for an Initial Business Combination and working~~ to ~~consummate~~effect ~~our~~a ~~Initial Business~~corresponding ~~Combination~~amendment ~~with Xtribe. We will not generate any operating revenues until after completion of our Initial Business Combination. Subsequent~~ to ~~our~~the ~~Initial~~Trust ~~Public~~Agreement ~~Offering~~by onand ~~September~~between ~~17, 2021, we generate non-operating income in~~ the ~~form~~Company ~~of interest~~ and ~~dividends~~Continental onStock ~~cash~~Transfer ~~and~~& ~~cash equivalents and marketable securities held in the~~ Trust ~~Account~~Co. ~~There~~(the ~~has~~“Trustee”) ~~been~~to noextend ~~significant change in our trading position and no material adverse change has occurred since~~ the date ofon ~~our~~which ~~audited~~the ~~financial~~Trustee ~~statements.~~must Weliquidate ~~incur~~the ~~ongoing~~Trust ~~expenses~~Account asfrom aSeptember ~~result of being a public company for legal~~17, ~~financial~~2025 ~~reporting,~~to ~~accounting~~March ~~and auditing compliance~~17, ~~as well as for due diligence expenses~~2026.

26October Extension

~~For the~~On ~~nine~~October ~~months ended September 30~~10, ~~2024~~2025, ~~our~~the ~~net~~Company ~~loss~~effected ~~was~~the ~~$1,430,395 and expenses from operating activities were $1,724,753, as compared~~second todrawdown ~~a net loss~~ of $~~966~~30,~~681~~000 ~~and~~under ~~expenses~~the ~~from~~Seventh ~~operating~~Extension ~~activities~~Note ofand ~~$1,476,911~~caused ~~for~~ the ~~nine~~Sponsor ~~months~~to ~~ended~~deposit ~~September~~such ~~30,~~sum ~~2023.~~into ~~These~~the ~~increases were~~Trust ~~mainly~~Account ~~due to an increase~~ in ~~legal~~connection ~~and~~with the ~~professional~~extension ~~fees~~of ~~for~~ the ~~nine~~Termination ~~months~~Date ~~ended~~from ~~September~~October 3017, ~~2024,~~2025 ~~as compared~~ to ~~the~~November ~~nine months ended September 30~~17, ~~2023~~2025. ~~due~~Such toamounts ~~efforts~~will ~~being~~be ~~made~~distributed either to: ~~complete~~(i) ~~our~~all of ~~Initial~~the ~~Business~~holders ~~Combination~~of ~~with~~Public ~~Xtribe.~~Shares Weupon ~~intend~~the toCompany’s ~~use~~liquidation, ~~our~~or ~~operating cash~~(ii) ~~held~~holders ~~outside~~of ~~the~~Public ~~Trust~~Shares ~~Account~~who ~~primarily~~elect to ~~evaluate~~have ~~target~~their ~~businesses,~~shares redeemed ~~perform~~in ~~business~~connection ~~due~~with ~~diligence~~(a) ona ~~prospective~~vote ~~target businesses, travel~~ to ~~and~~approve ~~from~~certain ~~the~~specified ~~offices,~~amendments ~~plants~~to orthe ~~similar~~Company’s ~~locations~~Certificate of ~~prospective~~Incorporation ~~target businesses~~ or ~~their representatives or owners, review~~ ~~corporate~~(b) ~~documents~~the ~~and~~consummation ~~material agreements~~ of ~~prospective target businesses, and structure, negotiate and complete~~ an Initial Business Combination.

~~Liquidity, Capital~~November ~~Resources and Going Concern~~Extension

~~As of~~On ~~September~~November 307, ~~2024~~2025, wethe ~~had~~Company ~~$548~~effected inthe ~~our~~third drawdown ~~operating bank account and a working capital deficit~~ of $430,~~928,551,~~000 asunder ~~compared~~the toSeventh ~~$37,946 in~~Extension ~~our~~Note ~~operating bank account~~ and acaused ~~working~~the ~~capital~~Sponsor ~~deficit~~to ofdeposit ~~$2,717,064~~such assum ofinto ~~December~~the ~~31,~~Trust ~~2023.~~Account ~~Our~~in ~~liquidity~~connection ~~needs prior to~~ with the ~~consummation~~ extension of the ~~Initial~~Termination ~~Public~~Date ~~Offering had been satisfied through proceeds~~ from ~~advances~~November ~~from~~17, a2025 ~~related~~to ~~party,~~December ~~our Sponsor~~17, ~~and~~2025. ~~from~~Such ~~the~~amounts ~~issuance of~~will ~~Common~~be ~~Stock.~~distributed ~~Subsequent~~either to: ~~the~~(i) ~~consummation~~ all of the ~~Initial~~holders of Public ~~Offering,~~Shares ~~liquidity~~upon ~~has been satisfied through~~ the ~~net~~Company’s ~~proceeds from~~liquidation, ~~the~~or ~~consummation~~(ii) holders of ~~the Initial~~ Public ~~Offering,~~Shares ~~the~~who ~~proceeds~~elect ~~from~~to ~~our~~have ~~Sponsor’s~~their ~~purchase~~shares redeemed ofin ~~Private~~connection ~~Placement~~with ~~Warrants~~(a) ~~held outside~~a ofvote ~~our~~to ~~Trust~~approve ~~Account~~certain ~~and~~specified ~~loans~~amendments ~~from~~to the ~~Sponsor.~~Company’s WeCertificate ~~believe~~of weIncorporation ~~will~~or (b) ~~need~~the toconsummation ~~access~~of ~~additional liquidity in order to consummate~~ an Initial Business Combination.

On March 16, 2021, we issued an unsecured promissory note to the Sponsor, which note was amended on March 27, 2022 (the “March 2021 Promissory Note”), pursuant to which we may borrow up to an aggregate principal amount of $300,000, of which $300,000 was outstanding under the March 2021 Promissory Note as of September 30, 2024 and December 31, 2023. The March 2021 Promissory Note is non-interest bearing and payable on the date on which we consummate an Initial Business Combination. The Sponsor may elect to convert any portion or all of the amount outstanding under the March 2021 Promissory Note into warrants to purchase shares of our Common Stock at a conversion price of $0.50 per warrant, with each warrant entitling the holder thereof to acquire one-half share of Common Stock at an exercise price of $11.50 per whole share, commencing on the date of our Initial Business Combination. No such conversions have yet occurred. During 2023, we effected drawdowns of $300,000 under the March 2021 Promissory Note. These amounts remain outstanding as of September 30, 2024. The purpose of each drawdown is for the payment of expenses associated with operations and those necessary to initiate an Initial Business Combination.Extension

On ~~September~~ 17December 10, ~~2021~~2025, wethe ~~consummated~~Company ~~our~~effected ~~Initial~~the ~~Public~~fourth drawdown ~~Offering~~ of 10$30,000~~,000~~ ~~units~~under (the ~~“Units”).~~Seventh ~~Each~~Extension ~~Unit~~Note ~~consists~~and ofcaused ~~one share~~the ofSponsor ~~Common~~to ~~Stock,~~deposit ~~one~~such ~~redeemable~~sum ~~warrant~~into (the ~~“Public~~Trust ~~Warrant”),~~Account in connection with ~~each Public Warrant entitling~~ the ~~holder~~extension ~~thereof to purchase one-half (1/2)~~ of ~~one~~the ~~share~~Termination ofDate ~~Common~~from ~~Stock~~December at17, an2025 ~~exercise~~to ~~price~~January of17, ~~$11~~2026.50 ~~per~~Such ~~whole~~amounts ~~share,~~will ~~subject~~be todistributed ~~adjustment,~~either ~~and~~to: ~~one~~(i) ~~right~~all (of the ~~“Right”),~~holders ~~with~~of ~~each~~Public ~~Right~~Shares ~~entitling~~upon the ~~holder~~Company’s ~~thereof~~liquidation, toor ~~receive one-fifteenth~~ (~~1/15~~ii) ofholders ~~one share~~ of ~~Common Stock~~Public ~~upon~~Shares ~~the~~who ~~consummation~~elect byto ushave oftheir anshares redeemed ~~Initial~~in ~~Business~~connection ~~Combination.~~with ~~The~~(a) ~~Units~~a ~~were~~vote ~~sold~~to atapprove ancertain ~~offering~~specified ~~price~~amendments ofto ~~$10.00~~the ~~per~~Company’s ~~Unit,~~Certificate ~~generating gross proceeds~~ of ~~$100,000,000~~Incorporation or (~~before~~b) ~~underwriting~~the ~~discounts~~consummation ~~and~~of ~~commissions~~an ~~and~~Initial ~~offering~~Business ~~expenses)~~Combination.

~~Simultaneously with~~January the consummation of the Initial Public Offering and the issuance and sale of the Units, we completed the private sale of 10,000,000 warrants (the “Private Placement Warrants,” and collectively with the Public Warrants, the “Warrants”) at a price of $0.50 per Private Placement Warrant to the Sponsor, generating gross proceeds of $5,000,000 (such sale, the “Private Placement”). Each Private Placement Warrant entitles the holder thereof to purchase one-half of one share of Common Stock at a price of $11.50 per whole share, subject to adjustment. The Private Placement Warrants are identical to the Public Warrants.Extension

On ~~September~~ 23January 10, ~~2021~~2026, ~~our~~the ~~underwriters~~Company ~~fully~~effected ~~exercised~~the fifth drawdown of $30,000 under the ~~over-allotment~~Promissory ~~option~~Note and ~~purchased~~caused anthe ~~additional~~Sponsor ~~1,500,000~~to ~~Units~~deposit (such sum into the ~~“Over-Allotment Units”),~~Trust ~~generating~~Account ~~gross~~in ~~proceeds~~connection with the extension of ~~$15~~the Termination Date from January 17,~~000,000~~ on2026 ~~September~~to 27February 17, ~~2021~~2026. ~~Simultaneously~~Such ~~with~~amounts ~~the~~will ~~sale~~be ofdistributed ~~Over-Allotment~~either ~~Units, we~~to: ~~consummated~~(i) aall ~~private~~of ~~sale~~the holders of anshares ~~additional~~of ~~900~~the Company’s common stock,~~000~~ ~~Private~~par ~~Placement~~value ~~Warrants~~$0.0001 (per share, issued as part of the ~~“Additional~~units ~~Private~~sold ~~Placement~~in ~~Warrants~~the IPO (“Public Shares”) to upon the ~~Sponsor~~Company’s atliquidation, aor ~~purchase~~(ii) ~~price~~holders of ~~$0.50~~Public ~~per~~Shares ~~Private~~who ~~Placement~~elect ~~Warrant,~~to ~~generating~~have ~~gross~~their ~~proceeds~~shares redeemed in connection with the consummation of ~~$450,000~~a Business Combination.

27Demand Letter

~~We paid~~On aDecember ~~total~~17, ~~of $2~~2025,~~400,000~~ inthe ~~underwriting~~Company ~~discounts,~~received ~~expenses~~a ~~and~~letter ~~commissions~~from counsel to Xtribe P.L.C. (~~not~~“Xtribe”) ~~including~~asserting claims ~~deferred~~related ~~underwriting~~to ~~commissions~~an alleged breach of $4the terminated business combination agreement between the Company and Xtribe. On December 29,~~025~~ 2025,~~000~~ ~~payable~~counsel ~~only~~to ~~upon~~the ~~completion~~Company ofresponded, ~~our~~denying ~~Initial~~all ~~Business~~allegations. ~~Combination)~~The ~~and~~Company ~~$523,969~~believes ~~for~~the ~~other~~claims ~~costs~~are ~~and~~without ~~expenses~~merit ~~related~~and intends to defend against them vigorously. No legal proceeding has been commenced as of the ~~Initial~~date ~~Public~~of issuance of these financial statements. Management has determined ~~Offering,~~that ~~resulting~~no inaccrual ~~aggregate~~is ~~net~~required, ~~proceeds~~as ~~from~~any ~~the~~potential ~~Initial~~loss ~~Public~~is ~~Offering~~not considered probable and ~~overallotment~~cannot ofbe ~~$112,076,031~~reasonably estimated.

As of September 27, 2021, a total of $116,150,000 of the net proceeds from the Initial Public Offering and the sale of the Private Placement Warrants and the Additional Private Placement Warrants were deposited in the Trust Account, and we had $638,000 of cash held outside of the Trust Account, after payment of costs related to the Initial Public Offering.24

~~On December~~Item ~~5, 2022, we issued the First Extension Note to our Sponsor in the principal amount of $750,000~~2. OnManagement’s ~~December~~Discussion ~~5, 2022, we effected the first drawdown of $125,000 under the First Extension Note~~ and ~~caused~~Analysis ~~the Sponsor to deposit such sum into the Trust Account in connection with the extension~~ of ~~the~~Financial ~~Termination~~Condition ~~Date from December 17, 2022 to January 17, 2023. During 2023, we effected drawdowns of $625,000 under the First Extension Note~~ and ~~caused~~Results ~~such sums to be deposited into the Trust Account in connection with the extension~~ of ~~the Termination Date from January 17, 2023 to June 17, 2023~~Operations.

InThe following discussion and analysis of the Company’s ~~connection~~financial condition and results of operations should be read in conjunction with our audited financial statements and the ~~vote~~notes torelated thereto ~~approve~~which are included in the ~~November~~section ~~2022~~of ~~Extension~~our ~~Amendment~~Annual Report on Form 10-K entitled “Item 8. Financial Statements and Supplementary Data.” Certain statements contained in this Quarterly Report on Form 10-Q, including, without limitation, statements in the ~~holders~~discussion and analysis set forth below may constitute “forward-looking statements” for purposes of 9federal securities laws. Our forward-looking statements include,~~606~~ but are not limited to,~~887~~ ~~shares~~statements ofregarding ~~Public~~our ~~Shares~~or ~~properly~~our management team’s expectations, hopes, beliefs, intentions ~~exercised~~or ~~their~~strategies ~~right~~regarding the future. In addition, any statements that refer to ~~redeem~~projections, ~~their~~forecasts ~~shares~~or (other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would” and ~~did~~variations and similar words and expressions may identify forward-looking statements, but the absence of these words does not ~~withdraw~~mean that a statement is not forward-looking. The forward-looking statements contained in this Quarterly Report on Form 10-Q are based on our current expectations and beliefs concerning future developments and their ~~redemption)~~potential effects ~~for~~on ~~cash~~us. atThere can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a ~~redemption~~number ~~price~~of risks, uncertainties (some of ~~approximately~~which are beyond our control) or other assumptions that may cause actual $results or performance to be materially different from those expressed or implied by these forward-looking statements, including but not limited to those factors set forth under the headings “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in our Annual Report on Form 10-K.20 ~~per~~Should ~~share,~~one ~~for~~or anmore ~~aggregate~~of ~~redemption~~these ~~amount~~risks or uncertainties materialize, or should any of ~~approximately~~our assumptions ~~$98~~prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.0 ~~million~~We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

~~On June~~References ~~13,~~in ~~2023,~~this wediscussion ~~issued~~and ~~the~~analysis ~~Second Extension Note~~ to ~~our Sponsor in the principal amount of $390,000. During 2023,~~ “we ~~effected drawdowns~~,” ~~of $390~~“us,~~000~~” ~~under~~“our” ~~the~~or ~~Second Extension Note and caused such sums to be deposited into~~ the ~~Trust~~“Company” ~~Account~~refer ~~in connection with the extension of the Termination Date from June 17, 2023~~ to ~~December~~WinVest ~~17,~~Acquisition ~~2023~~Corp.

In connection with the vote to approve the June 2023 Extension Amendment, the holders of 627,684 shares of Public Shares properly exercised their right to redeem their shares (and did not withdraw their redemption) for cash at a redemption price of approximately $10.71 per share, for an aggregate redemption amount of approximately $6,721,795.Overview

~~On October~~We ~~31,~~are ~~2023,~~a weblank ~~issued~~check ancompany ~~unsecured~~incorporated ~~promissory~~as ~~note~~a ~~to the Sponsor (the “October 2023 Promissory Note”), pursuant to~~Delaware ~~which~~corporation weand ~~may~~formed ~~borrow~~for upthe topurpose anof ~~aggregate~~effecting ~~principal~~a ~~amount of $1~~merger,~~000,000.~~ Ascapital ofstock ~~September 30~~exchange, ~~2024~~asset acquisition, westock ~~had effected drawdowns of $709~~purchase,~~200~~ ~~under the~~reorganization ~~October~~or ~~2023~~similar ~~Promissory~~business ~~Note.~~combination ~~The~~with ~~October~~one ~~2023~~or ~~Promissory~~more ~~Note~~businesses ~~does not bear interest and matures upon~~ (the ~~closing of the~~ “Initial Business Combination”). InWe ~~the~~intend ~~event~~to ~~that~~effectuate our ~~we do not consummate an~~ Initial Business Combination, ~~the~~using ~~October~~cash ~~2023 Promissory Note will be repaid only~~ from ~~amounts remaining outside of~~ the ~~Trust~~proceeds ~~Account, if any. The purpose~~ of ~~each~~our ~~drawdown~~initial ispublic ~~for~~offering (the ~~payment~~“Initial ofPublic ~~expenses associated~~Offering”), ~~with~~our ~~operations~~capital ~~and~~stock, ~~those~~debt ~~necessary~~or toa ~~initiate~~combination anof ~~Initial~~cash, ~~Business~~stock ~~Combination~~and debt.

~~In connection~~As ~~with~~of March 31, 2025, and the ~~approval~~date of ~~the~~this ~~November~~filing, we ~~2023~~had ~~Extension~~not ~~Amendment~~commenced oncore ~~November~~operations. ~~30,~~All ~~2023~~activity for the period from March 1, on2021 ~~December~~(inception) 13through March 31, ~~2023~~2025, werelated ~~issued~~to ~~the Third~~our ~~Extension~~formation, ~~Note~~raising tofunds through our ~~Sponsor~~Initial Public Offering, ~~pursuant~~identifying a target company for an Initial Business Combination and working to ~~which~~consummate our ~~Sponsor~~Initial ~~agreed~~Business toCombination ~~loan~~(as usdefined upbelow). toWe ~~$330,000~~will innot ~~connection~~generate ~~with~~any operating revenues until after the ~~extension~~completion of the ~~Termination~~ ~~Date~~Initial Business Combination, at the earliest. ~~The~~We ~~balance~~generate non-operating income in the form of interest on cash and cash equivalents held in the ~~Third~~Trust ~~Extension~~Account, ~~Note~~and asprior to the liquidation of ~~September~~the ~~30,~~money ~~2024~~market ~~was~~funds ~~$330~~held in the Trust Account in January 2025,~~000~~ we generated dividend income on such money market funds.

InThe stock exchange listing rules provide that the ~~connection~~Initial Business Combination must be with ~~the~~one ~~vote~~or more target businesses that together have a fair market value equal to ~~approve~~at least 80% of the ~~November~~value ~~2023~~of ~~Extension~~the ~~Amendment,~~assets held in a trust account (the ~~holders~~“Trust ofAccount”) ~~122,306~~in ~~shares~~the ofUnited ~~Public~~States ~~Shares~~maintained ~~properly~~by ~~exercised~~Continental Stock ~~their~~Transfer ~~right~~& toTrust ~~redeem~~Company ~~their~~(“Continental”), ~~shares~~as trustee (~~and~~excluding ~~did~~the ~~not~~deferred ~~withdraw~~underwriting ~~their~~commissions ~~redemption~~and taxes payable), at ~~for~~the ~~cash~~time atof the our signing a ~~redemption~~definitive ~~price~~agreement ofin ~~approximately~~connection ~~$10~~with the Initial Business Combination.81 ~~per~~We will only complete an Initial ~~share,~~Business Combination if the post-Initial Business Combination company owns or acquires 50% or more of the outstanding voting securities of the target company or otherwise acquires a controlling interest in the target company sufficient for it not to be required to register as an ~~aggregate~~investment ~~redemption~~company ~~amount~~under ofthe ~~approximately~~Investment ~~$1,322,518.~~Company ~~Following~~Act ~~such~~of ~~redemptions~~1940, ~~1,143,123~~as ~~shares~~amended of(the ~~Public~~“Investment ~~Shares~~Company Act”). There is no ~~remained~~assurance ~~outstanding~~that we will be able to successfully effect an Initial Business Combination.

InOur amended and restated certificate of incorporation ~~connection~~(as ~~with~~amended, the ~~approval~~“Certificate of Incorporation”) provided that we had until December 17, 2022 to complete an Initial Business Combination; provided, however, that if we anticipated we may not be able to consummate an Initial Business Combination by December 17, 2022, we, by resolution of the ~~June~~board ~~2024~~of ~~Extension~~directors ~~Amendment~~if onrequested ~~June~~by 3our sponsor, ~~2024~~WinVest SPAC LLC (the “Sponsor”), oncould extend the period of time to consummate an Initial Business Combination up to two times, each by an additional three months (up until June 1217, 2023), ~~2024~~subject to the deposit of additional funds into the Trust Account by our Sponsor or its affiliates or designees. On November 30, 2022, we ~~issued~~held a special meeting of stockholders (the ~~Fourth~~“November 2022 Extension ~~Note~~Meeting”) to, among other things, approve an amendment to our ~~Sponsor,~~Certificate ~~pursuant~~of Incorporation to extend the date by which ~~our~~we ~~Sponsor~~must ~~agreed~~consummate an Initial Business Combination (the “Termination Date”) from December 17, 2022 to ~~loan~~January 17, 2023, and to allow us, without another stockholder vote, to elect to extend the Termination Date on a monthly basis for up to ~~$180~~five times by an additional one month each time after January 17,~~000~~ in2023, ~~connection~~by ~~with~~resolution of our board of directors, if requested by the ~~extension~~Sponsor, and upon five days’ advance notice prior to the applicable Termination Date, until June 17, 2023, or a total of up to six months after the original Termination Date of December 17, 2022, unless the closing of the Initial Business Combination shall have occurred prior thereto (the “November 2022 Extension Amendment”). Our Sponsor agreed that if the November ~~The~~2022 ~~balance~~Extension onAmendment was approved at the ~~Fourth~~November 2022 Extension ~~Note~~Meeting, asit or one or more of ~~September~~its 30affiliates, ~~2024~~members ~~was~~or third-party designees would lend to us up to $~~120~~750,000 to be deposited into the Trust Account.

28The stockholders approved the November 2022 Extension Amendment at the November 2022 Extension Meeting. Accordingly, on December 5, 2022, we issued an unsecured promissory note in the principal amount of $750,000 (the “First Extension Note”) to our Sponsor, pursuant to which our Sponsor agreed to loan to us up to $750,000 in connection with the extension of the Termination Date. The First Extension Note does not bear interest and matures upon the earlier of (a) the closing of the Initial Business Combination and (b) our liquidation. In the event that we do not consummate an Initial Business Combination, the First Extension Note will be repaid only from amounts remaining outside of the Trust Account, if any. Upon the consummation of an Initial Business Combination, our Sponsor may elect to convert any portion or all of the amount outstanding under the First Extension Note into private warrants to purchase shares of our common stock, par value $0.0001 per share (“Common Stock”), at a conversion price of $0.50 per private warrant. Such private warrants will be identical to the Private Placement Warrants (as defined below) issued to our Sponsor at the time of our Initial Public Offering. The balance on the First Extension Note as of March 31, 2025 and December 31, 2024 was $750,000.

~~As of~~In ~~September~~connection ~~30,~~with ~~2024, we had cash held in~~ the ~~Trust~~vote ~~Account of approximately $5.8 million. We intend~~ to ~~use~~approve ~~substantially all of~~ the November ~~remaining~~2022 ~~funds~~Extension ~~held in the Trust Account~~Amendment, ~~including any amounts representing interest earned on~~ the ~~Trust~~holders ~~Account, which interest shall be net~~ of ~~taxes payable~~9,606,887 toshares ~~complete~~of ~~our~~Common ~~Initial~~Stock ~~Business~~issued ~~Combination.~~as Wepart ~~may withdraw interest from the Trust Account to pay taxes and up to $100,000~~ of ~~dissolution expenses, if any. To~~ the ~~extent~~Units ~~that~~(as ~~our~~defined ~~share~~below) ~~capital~~sold ~~or debt is used,~~ in ~~whole~~our ~~or in part, as consideration~~Initial toPublic ~~consummate~~Offering an(“Public ~~Initial~~Shares”) ~~Business~~properly ~~Combination,~~exercised ~~the~~their ~~remaining~~right ~~proceeds~~to ~~held~~redeem intheir ~~the~~shares ~~Trust~~(and ~~Account~~did ~~will~~not bewithdraw ~~used~~their asredemption) for ~~working~~cash ~~capital~~at toa ~~finance the~~redemption ~~operations~~price of ~~the~~approximately ~~target~~$10.20 ~~business~~per ~~or businesses~~share, ~~make~~for ~~other~~an ~~acquisitions~~aggregate ~~and~~redemption ~~pursue~~amount ~~our~~of ~~growth~~approximately ~~strategies~~$98.0 million.

~~The accompanying~~On ~~financial~~June ~~statements~~12, ~~have~~2023, ~~been~~we ~~prepared~~held ona second special meeting of stockholders (the ~~basis~~“June ~~that~~2023 weExtension ~~will~~Meeting”) ~~continue~~at aswhich athe ~~going~~stockholders ~~concern~~approved, ~~which~~among ~~assumes~~other ~~the~~things, ~~realization~~(i) an amendment ofto ~~assets~~our ~~and~~Certificate of Incorporation (the ~~satisfaction~~“June of2023 ~~liabilities~~Extension inAmendment”) to extend the ~~normal~~Termination ~~course~~Date offrom ~~business.~~June As17, of2023 to ~~September~~July 3017, ~~2024~~2023, weand ~~had~~to ~~not~~allow ~~commenced~~us, ~~any~~without ~~operations. All~~another ~~activity~~stockholder ~~for~~vote, to elect to extend the ~~fiscal~~Termination ~~years~~Date ~~ended~~on ~~December~~a ~~31,~~monthly ~~2023~~basis ~~and~~for ~~2022~~up to ~~and~~five times by an additional one month (or such shorter period as may be requested by the ~~nine~~Sponsor) ~~months~~after ~~ended~~July ~~September~~17, 302023, ~~2024~~by ~~relates~~resolution of toour ~~identifying a~~board ~~target~~of ~~company~~directors, ~~for~~if anrequested ~~Initial~~by ~~Business~~the ~~Combination~~Sponsor, and ~~working~~upon tofive ~~consummate~~days’ ~~our~~advance ~~Initial~~notice ~~Business~~prior ~~Combination~~to ~~with~~the ~~Xtribe.~~applicable WeTermination ~~will~~Date, ~~not~~until ~~generate~~December ~~any~~17, ~~operating~~2023, ~~revenues~~or ~~until~~a total of up to six months after June 17, 2023, unless the ~~completion~~closing of ~~the~~our Initial Business Combination, atshall have ~~the~~occurred ~~earliest.~~prior Wethereto, ~~generate~~and ~~non-operating income~~(ii) inan amendment (the ~~form~~“Redemption ofLimitation ~~interest~~Amendment”) ~~and~~to ~~dividend~~eliminate ~~income~~from onthe ~~cash~~Certificate of ~~and~~Incorporation ~~cash~~the ~~equivalents~~limitation ~~and~~that ~~marketable~~we ~~securities~~may ~~from~~not ~~the~~consummate ~~proceeds~~any ~~derived~~business ~~from the~~combination ~~Initial~~unless ~~Public~~we ~~Offering.~~have ~~Our~~net ~~ability~~tangible toassets ~~commence~~of ~~operations~~at isleast ~~contingent~~ $5,000,001 upon ~~consummating~~consummation anof ~~Initial~~such ~~Business~~business ~~Combination~~combination. WeFollowing ~~currently have~~stockholder ~~until~~approval ~~December~~of ~~17,~~the ~~2024~~June to2023 ~~consummate~~Extension ~~our~~Amendment ~~Initial~~and ~~Business~~the ~~Combination,~~Redemption Limitation ~~which~~Amendment isat 39the ~~months~~June ~~from~~2023 ~~the~~Extension ~~closing~~Meeting, ofon ~~our~~June ~~Initial~~16, ~~Public Offering.~~2023, Wewe ~~will~~filed ~~not~~the beJune ~~able~~2023 toExtension ~~consummate~~Amendment ~~our~~and ~~Initial~~the ~~Business~~Redemption Limitation ~~Combination~~Amendment bywith ~~December~~the ~~17,~~Delaware ~~2024~~Secretary of State.

Management’s plan to address the December 17, 2024 liquidation is to seek stockholder approval for, and to file, an amendment to our Certificate of Incorporation. Pursuant to a preliminary proxy statement filed with the Securities and Exchange Commission (“SEC”) on November 1, 2024, we are proposing to amend our Certificate of Incorporation to extend the Termination Date from December 17, 2024 to January 17, 2025 (the “Charter Extension Date”) upon the deposit into the Trust Account of $30,000, to be loaned to us by our Sponsor or one or more of its affiliates, members or third-party designees, and to allow us, without another stockholder vote, to elect to extend the Termination Date on a monthly basis for up to five times by an additional one month each time after the Charter Extension Date (each, an “Additional Extension”), by resolution of our board of directors, if requested by our Sponsor, and upon five days’ advance notice prior to the applicable Termination Date, until June 17, 2025, or a total of up to six months after December 17, 2024, unless the closing of an Initial Business Combination shall have occurred prior thereto, subject to the deposit an additional $30,000 per Additional Extension into the Trust Account by our Sponsor or its affiliates, members or third-party designees (the “Charter Extension Amendment”). If the Charter Extension Amendment is approved and effective, our public stockholders may elect to redeem their Public Shares. An electing stockholder will be entitled to receive a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest (net of taxes payable), divided by the number of then-outstanding Public Shares. This redemption right will apply to each holder of Public Shares regardless of whether and how such holder votes on the proposal. The removal from the Trust Account of such amounts would reduce the amount remaining in the Trust Account and increase the percentage interest of the Company held by our Sponsor. Due to the reasons stated above, we believe we may not have sufficient liquidity through the date of an Initial Business Combination, if extended through June 17, 2025.26

To In connection with the ~~extent~~approval weof ~~are~~the ~~unable~~June to2023 ~~consummate~~Extension Amendment anon ~~Initial~~June ~~Business~~12, ~~Combination~~2023, on June 13, 2023, we ~~will~~issued ~~need~~an tounsecured ~~pay~~promissory note in the ~~costs~~principal amount of ~~liquidation~~$390,000 ~~from~~(the “Second Extension Note”) to our ~~current available~~Sponsor, ~~funds~~pursuant ~~outside~~to ~~the~~which ~~Trust~~our ~~Account,~~Sponsor ~~including~~agreed ~~the~~to ~~approximate~~loan ~~amount~~us ofup to $~~290~~390,~~800~~000 ~~still~~in ~~available~~connection towith usthe ~~under~~extension of the ~~October~~Termination ~~2023 Promissory~~Date. ~~Note~~The asSecond ofExtension ~~September~~Note ~~30,~~does ~~2024,~~not bear interest and ~~from~~matures upupon tothe ~~$100,000~~earlier of ~~interest~~(a) ~~income on~~ the ~~balance~~closing of ~~the~~an ~~Trust~~Initial Business ~~Account~~Combination and (~~net~~b) ofour ~~income and~~liquidation. ~~other~~In ~~tax~~the ~~obligations)~~event that ~~may~~we do not consummate an Initial Business Combination, the Second Extension Note will be ~~released~~repaid toonly usfrom toamounts ~~pay~~remaining ~~for~~outside ~~dissolution~~of ~~expenses~~the Trust Account, if any. IfUpon ~~such~~the ~~funds~~consummation ~~are~~of ~~insufficient,~~the Initial Business Combination, our Sponsor ~~has agreed~~may elect to ~~pay~~convert any portion or all of the ~~funds~~amount ~~necessary~~outstanding tounder ~~complete~~the ~~such~~Second ~~liquidation~~Extension ~~and~~Note ~~has~~into ~~agreed~~private ~~not~~warrants to purchase ~~seek~~shares ~~repayment~~ of ~~such~~our ~~expenses.~~Common ~~Based~~Stock onat ~~these circumstances,~~a ~~management~~conversion ~~has~~price ~~determined~~of ~~that~~$0.50 ~~there~~per isprivate ~~substantial~~warrant. ~~doubt~~Such ~~about~~private ~~our~~warrants ~~ability~~will tobe ~~continue~~identical asto athe Private ~~going~~Placement ~~concern~~Warrants ~~due~~issued to ~~insufficient liquidity,~~our Sponsor at the ~~uncertainty~~time of ~~liquidity~~the ~~requirements~~Initial ~~and~~Public Offering. The balance on the ~~mandatory~~Second ~~liquidation~~Extension ~~date~~Note as ~~within~~of ~~one~~March ~~year~~31, 2025 and December 31, 2024 was $390,000.

~~Accordingly,~~ In connection with the ~~accompanying~~vote ~~financial~~to ~~statements~~approve ~~have~~the ~~been~~June ~~prepared~~2023 Extension inAmendment, ~~conformity~~the ~~with~~holders ~~U.S.~~of ~~GAAP~~627,684 ~~which~~Public ~~contemplates~~Shares ~~continuation~~properly ofexercised ~~the~~their ~~Company as~~right ato ~~going~~redeem ~~concern~~their shares (and ~~the~~did ~~realization~~not ofwithdraw their ~~assets~~redemption) ~~and~~for ~~the~~cash ~~satisfaction~~at a redemption price of ~~liabilities~~approximately in$10.71 ~~the~~per ~~normal~~share, ~~course~~for ofan ~~business.~~aggregate ~~The~~redemption ~~financial~~amount of $6,721,795. ~~statements~~Following dosuch ~~not~~redemptions, ~~include~~$13,551,331 ~~any~~was ~~adjustments~~left ~~that~~in ~~might~~Trust ~~result~~Account ~~from~~and ~~the~~1,265,429 ~~outcome~~Public ofShares ~~this~~remained ~~uncertainty~~outstanding.

29On November 30, 2023, we held a special meeting of stockholders, at which the stockholders approved, among other things, an amendment to our Certificate of Incorporation (the “November 2023 Extension Amendment”) to extend the Termination Date from December 17, 2023 to January 17, 2024, and to allow us, without another stockholder vote, to elect to extend the Termination Date on a monthly basis for up to five times by an additional one month each time after January 17, 2023, by resolution of our board of directors, if requested by the Sponsor, and upon five days’ advance notice prior to the applicable Termination Date, until June 17, 2024, or a total of up to six months after December 17, 2023, unless the closing of our Initial Business Combination shall have occurred prior thereto, by causing $55,000 to be deposited into the Trust Account for each such extension.

WeIn connection with the approval of the November 2023 doExtension ~~not~~Amendment ~~have~~on ~~any~~November ~~long-term~~30, ~~debt~~2023, ~~capital~~on ~~lease~~December ~~obligations~~13, ~~operating~~2023, ~~lease~~we ~~obligations~~issued oran ~~long-term~~unsecured ~~liabilities~~promissory note asin ofthe ~~September~~principal ~~30,~~amount ~~2024~~of $330, ~~other~~000 ~~than~~(the an“Third ~~agreement~~Extension Note”) to ~~pay~~our Sponsor, pursuant to which our Sponsor aagreed to ~~monthly~~loan ~~fee~~us ofup to $10330,000 ~~for~~in ~~office~~connection ~~space,~~with ~~secretarial,~~the ~~and~~extension ~~administrative~~of ~~support~~the ~~services~~Termination Date. The Third Extension Note does not bear interest and ~~provided~~matures toupon the ~~Company~~earlier of (a) the closing of an Initial Business Combination and (b) our liquidation. WeIn ~~began~~the ~~incurring~~event ~~these~~that ~~fees~~we ondo ~~September~~not 14consummate an Initial Business Combination, ~~2021~~the ~~and~~Third Extension Note will ~~continue~~be torepaid ~~incur~~only ~~these~~from ~~fees~~amounts ~~monthly~~remaining ~~until~~outside of the Trust Account, if ~~earlier~~any. ofThe balance on the ~~completion~~Third Extension Note as of anMarch ~~Initial~~31, ~~Business~~2025 ~~Combination~~and orDecember ~~the~~31, ~~Company’s~~2024 ~~liquidation~~was $330,000.

~~Deferred underwriting~~In ~~discounts~~connection ~~and~~with ~~commissions~~the invote anto ~~amount~~approve ~~equal~~the toNovember 2023 ~~3.5%~~Extension ofAmendment, the ~~gross~~holders ~~proceeds~~of ~~raised~~122,306 inPublic ~~the~~Shares ~~Initial~~properly ~~Public~~exercised ~~Offering,~~their orright ~~$4,025,000,~~to redeem their shares (and did not withdraw ~~will~~their beredemption) ~~payable~~for tocash ~~the~~at ~~underwriters~~a ~~upon~~redemption ~~the~~price ~~consummation~~of approximately $10.81 per share, for an aggregate redemption amount of ~~our~~approximately $1,322,518. ~~Initial~~Following ~~Business~~such ~~Combination~~redemptions, ~~and~~approximately ~~will~~$12,360,810 bewas ~~held~~left in the Trust Account ~~until the~~and ~~consummation~~1,143,123 shares of ~~such~~Public ~~Initial~~Shares remained ~~Business Combination~~outstanding.

~~Off~~On May 9, 2024, we entered into a Business Combination Agreement (the “Original Business Combination Agreement”), by and among the Company, WinVest Merger Sub I, LLC, a Delaware limited liability company and wholly owned subsidiary of WinVest, WinVest Merger Sub II, LLC, a Delaware limited liability company and wholly owned subsidiary of WinVest, Xtribe P.L.C., a public limited company incorporated and registered in England and Wales with number 07878011 (“Xtribe PLC”), and Xtribe Group, LLC, a Delaware limited liability company and wholly-~~Balance~~owned subsidiary of Xtribe PLC. On September 16, 2024, we entered into an Amended and Restated Business Combination Agreement ~~Sheet~~(the ~~Arrangements~~“A&R Business Combination Agreement”), by and among the Company, WinVest (BVI) Ltd., a British Virgin Islands business company registered with company number 2157117 and a wholly owned subsidiary of WinVest, Xtribe PLC and Xtribe (BVI) Ltd., a British Virgin Islands business company registered with company number 2157137 and a wholly-owned subsidiary of Xtribe PLC (together with Xtribe PLC, “Xtribe”), which amends and restates the Original Business Combination Agreement in its entirety. In connection with the Initial Business Combination, the Company, WinVest (BVI) Ltd. and Xtribe (BVI) Ltd. have filed a registration statement on Form F-4, which was declared effective by the Securities and Exchange Commission on March 31, 2025, and which includes a proxy statement/prospectus (as amended or supplemented from time to time, the “Proxy Statement/Prospectus”) relating to the Initial Business Combination. The Company will call a special meeting of stockholders in order to vote on the proposals described in the Proxy Statement/Prospectus.

~~As of~~On ~~September~~June 303, 2024, we ~~did~~held ~~not~~a ~~have~~special ~~any~~meeting ~~off-balance~~of ~~sheet~~stockholders, ~~arrangements~~at aswhich ~~defined~~the instockholders ~~Item~~approved, ~~303~~among ofother ~~Regulation~~things, ~~S-K.~~an Weamendment doto ~~not~~our ~~participate~~Certificate of inIncorporation ~~transactions~~(the ~~that~~“June ~~create~~2024 ~~relationships~~Extension ~~with~~Amendment”) ~~unconsolidated~~to ~~entities~~extend orthe ~~financial~~Termination Date ~~partnerships~~from June 17, ~~often~~2024 ~~referred~~to July 17, 2024, and to asallow ~~variable~~us, ~~interest entities~~without another stockholder vote, ~~which~~to ~~would~~elect ~~have~~to ~~been~~extend ~~established~~the Termination Date on a monthly basis for ~~the~~up ~~purpose~~to offive ~~facilitating~~times ~~off-balance~~by ~~sheet~~an ~~arrangements.~~additional Weone ~~have~~month ~~not~~each ~~entered~~time ~~into~~after July 17, 2024, by resolution of our board of directors, ~~any~~if ~~off-balance~~requested ~~sheet~~by ~~financing~~the ~~arrangements~~Sponsor, ~~established~~and ~~any~~upon ~~special~~five ~~purpose~~days’ ~~entities~~advance notice prior to the applicable Termination Date, ~~guaranteed~~until ~~any~~December ~~debt~~17, 2024, or ~~commitments~~a total of ~~other~~up ~~entities~~to six months after June 17, 2024, unless the closing of our Initial Business Combination shall have occurred prior thereto, orby ~~purchased~~causing ~~any~~$30,000 ~~non-financial~~to ~~assets~~be deposited into the Trust Account for each such extension.

~~Critical~~In connection with the vote to approve the June 2024 ~~Accounting~~Extension ~~Estimates~~Amendment, the holders of 650,790 Public Shares properly exercised their right to redeem their shares (and did not withdraw their redemption) for cash at a redemption price of approximately $11.32 per share, for an aggregate redemption amount of approximately $7,367,204. Following such redemptions, 492,333 Public Shares remained outstanding.

~~The preparation~~Following the approval of ~~financial~~the ~~statements~~June ~~and~~2024 Extension ~~related~~Amendment ~~disclosures~~on June 3, 2024, on June 12, 2024, we issued an unsecured promissory note in ~~conformity~~the ~~with~~principal ~~U.S.~~amount ~~GAAP~~of $180,000 (the ~~requires~~“Fourth ~~management~~Extension Note”) to ~~make~~the ~~estimates~~Sponsor, ~~and~~pursuant ~~assumptions that~~to ~~affect~~which the ~~reported~~Sponsor ~~amounts~~agreed ofto ~~assets~~loan ~~and~~us ~~liabilities~~up to $180,000 ~~disclosure~~in connection with the extension of ~~contingent~~the ~~assets~~Termination Date. The Fourth Extension Note does not bear interest and ~~liabilities~~matures atupon the ~~date~~earlier of ~~the~~(a) ~~financial~~the ~~statements,~~closing ~~and~~of ~~income~~an Initial Business Combination and ~~expenses~~(b) ~~during~~our liquidation. In the ~~periods~~event ~~reported.~~that ~~Actual~~we ~~results~~do ~~could~~not ~~materially~~consummate ~~differ~~an Initial Business Combination, the Fourth Extension Note will be repaid only from ~~those~~amounts ~~estimates~~remaining outside of the Trust Account, if any. ~~Management~~The balance ~~has~~on ~~determined~~the ~~that~~Fourth ~~the~~Extension ~~Company~~Note ~~has~~as noof ~~critical~~March ~~accounting~~31, ~~estimates~~2025 and December 31, 2024 was $180,000.

~~Recent~~On December 10, 2024, we held a special meeting of ~~Accounting~~stockholders, ~~Pronouncements~~at which the stockholders approved, among other things, an amendment to our Certificate of Incorporation (the “December 2024 Extension Amendment”) to extend the Termination Date from December 17, 2024 to January 17, 2025, and to allow us, without another stockholder vote, to elect to extend the Termination Date on a monthly basis for up to five times by an additional one month each time after January 17, 2025, by resolution of our board of directors, if requested by the Sponsor, and upon five days’ advance notice prior to the applicable Termination Date, until June 17, 2025, or a total of up to six months after December 17, 2024, unless the closing of our Initial Business Combination shall have occurred prior thereto, by causing $30,000 to be deposited into the Trust Account for each such extension.

In June 2022, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2022-03, Fair Value Measurement (Topic 820) (“ASU 2022-03”). The amendments in ASU 2022-03 clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The amendments in this Update also require additional disclosures for equity securities subject to contractual sale restrictions. The provisions in this Update are effective for fiscal years beginning after December 15, 2023 for public business entities. Early adoption is permitted. We do not expect to early adopt this ASU. We are currently evaluating the impact of adopting this guidance on the balance sheets, results of operations and cash flows.27

~~ASU 2023-09~~In ~~requires~~connection ~~disaggregated~~with ~~information~~the ~~about~~vote ato ~~reporting~~approve ~~entity’s~~the ~~effective tax rate reconciliation as well as information~~December on2024 ~~income~~Extension ~~taxes~~Amendment, ~~paid.~~the ~~The~~holders ~~new~~of ~~standard~~233,555 isPublic ~~effective~~Shares ~~for~~properly ~~public~~exercised ~~entities~~their ~~with~~right ~~annual~~to ~~periods~~redeem ~~beginning~~their ~~after~~shares ~~December~~(and ~~15, 2024, with early~~did ~~adoption~~not ~~permitted~~withdraw ~~and~~their ~~should~~redemption) befor ~~applied~~cash ~~prospectively~~at ~~with~~a ~~the~~redemption ~~option~~price of ~~retrospective~~approximately ~~application~~$12.00 Weper doshare, ~~not~~for ~~expect~~an toaggregate ~~early~~redemption ~~adopt~~amount of ~~this~~approximately ~~ASU~~$2,801,498. WeFollowing ~~are~~such ~~currently~~redemptions, ~~evaluating~~approximately ~~the~~$3,104,049 ~~impact~~was ofleft ~~adopting~~in ~~this~~the ~~guidance~~Trust onAccount ~~our~~and ~~balance sheets~~258,778 ~~results~~Public ofShares ~~operations~~remained ~~and cash flows~~outstanding.

WeFollowing the approval of the December 2024 Extension doAmendment ~~not~~on ~~believe~~December ~~that~~10, ~~any~~2024, ~~other~~on ~~recently~~December 16, 2024, we issued an unsecured promissory note in the principal amount of $180,000 ~~but~~(the “Fifth ~~not~~Extension ~~yet~~Note,” ~~effective~~and collectively with the First Extension Note, ~~accounting~~the ~~pronouncements~~Second Extension Note, ifthe ~~currently~~Third ~~adopted~~Extension Note, and ~~would~~the ~~have~~Fourth Extension Note, the “Extension Notes”) to the Sponsor, pursuant to which the Sponsor agreed to loan us up to $180,000 in connection with the extension of the Termination Date. The Fifth Extension Note does not bear interest and matures upon the earlier of (a) ~~material~~the closing of an Initial Business Combination and (b) our liquidation. In the event that we do not consummate an Initial ~~effect~~Business Combination, the Fifth Extension Note will be repaid only from amounts remaining outside of the Trust Account, if any. The balance on ~~our~~the ~~financial~~Fifth ~~statements~~Extension Note as of March 31, 2025 and December 31, 2024 was $120,000 and $30,000, respectively.

~~ITEM~~On January 31, 2025, we issued an unsecured promissory 3note to the Sponsor (the “January 2025 Promissory Note”), pursuant to which we may borrow up to an aggregate principal amount of $1,000,000. ~~QUANTITATIVE~~The ~~AND~~January ~~QUALITATIVE~~2025 ~~DISCLOSURES~~Promissory ~~ABOUT~~Note ~~MARKET~~does ~~RISK~~not bear interest and matures upon the closing of the Initial Business Combination. In the event that the Company does not consummate an Initial Business Combination, the January 2025 Promissory Note will be repaid only from amounts remaining outside of the Trust Account, if any. Through the date of this report, we have effected drawdowns of $277,756 under the January 2025 Promissory Note.

WeOn ~~are~~June a16, ~~smaller~~2025, ~~reporting~~the ~~company~~Company asheld ~~defined~~a byspecial ~~Rule~~meeting ~~12b-2~~ of stockholders, at which the ~~Securities~~stockholders ~~Exchange~~approved, ~~Act~~among ofother ~~1934~~things, asan ~~amended~~amendment to the Company’s Certificate of Incorporation (the “~~Exchange~~June ~~Act~~2025 Extension Amendment”) to extend the Termination Date from June 17, 2025 to July 17, 2025, and to allow the Company, without another stockholder vote, to elect to extend the Termination Date on a monthly basis for up to two times by an additional one month each time after July 17, 2025, by resolution of the Company’s board of directors, if requested by the Sponsor, and ~~are~~upon ~~not~~five ~~required~~days’ advance notice prior to ~~provide~~the applicable Termination Date, until September 17, 2025, or a total of up to three months after June 17, 2025, unless the ~~information~~closing ~~under~~of ~~this~~the ~~item~~Company’s Initial Business Combination shall have occurred prior thereto, by causing $30,000 to be deposited into the Trust Account for each such extension.

30In connection with the vote to approve the June 2025 Extension Amendment, the holders of 527 Public Shares properly exercised their right to redeem their shares (and did not withdraw their redemption) for cash at a redemption price of approximately $12.92 per share, for an aggregate redemption amount of approximately $6,808. Following such redemptions, approximately $3,336,054 was left in trust and 258,251 Public Shares remained outstanding.

~~ITEM~~On June 16, 2025, the Company issued an unsecured promissory note in the principal amount of 4$90,000 (the “Sixth Extension Note”) to the Sponsor, pursuant to which the Sponsor agreed to loan to the Company up to $90,000 in connection with the termination date by which the Company must consummate an initial business combination. ~~CONTROLS~~The ~~AND~~Note ~~PROCEDURES~~does not bear interest and matures upon the earlier of (a) the closing of a Business Combination and (b) the Company’s liquidation. In the event that the Company does not consummate a Business Combination, the Note will be repaid only from amounts remaining outside of the Trust Account, if any.

~~Evaluation~~Through the date of this report, we have effected drawdowns of ~~Disclosure~~$2,070,000 ~~Controls~~under the Extension Notes and ~~Procedures~~caused such sums to be deposited into the Trust Account in connection with the extension of the Termination Date from December 17, 2022 to February 17, 2025. Such amounts will be distributed either to: (i) all of the holders of Public Shares upon our liquidation or (ii) holders of Public Shares who elect to have their shares redeemed in connection with (a) a vote to approve certain specified amendments to our Certificate of Incorporation or (b) the consummation of an Initial Business Combination.

~~Disclosure controls~~If we are ~~procedures~~unable ~~that~~to ~~are~~consummate ~~designed~~an ~~with~~Initial ~~the~~Business Combination ~~objective~~within ofthe ~~ensuring~~allotted ~~that~~time ~~information~~period, ~~required~~we towill, beas ~~disclosed~~promptly inas ~~our~~possible ~~reports~~but ~~filed under~~not ~~the~~more ~~Exchange~~than ~~Act,~~ten ~~such~~business asdays ~~this~~thereafter, ~~Quarterly~~redeem ~~Report~~100% of onour ~~Form~~outstanding ~~10-Q,~~Public isShares ~~recorded,~~for ~~processed,~~a ~~summarized,~~pro ~~and~~rata ~~reported~~portion ~~within~~of the ~~time period~~funds ~~specified~~held in the ~~SEC’s~~Trust ~~rules~~Account, ~~and~~including ~~forms.~~a ~~Disclosure~~pro ~~controls~~rata ~~are~~portion ~~also designed with the objective~~ of ~~ensuring~~any ~~that such information~~interest isearned ~~accumulated~~on ~~and~~the ~~communicated~~funds toheld ~~our~~in ~~management,~~the ~~including~~Trust ~~the~~Account ~~chief~~(less ~~executive~~taxes ~~officer~~payable and ~~chief~~up ~~financial officer, as appropriate~~ to ~~allow timely decisions regarding required disclosure. Our management evaluated~~$100,000 ~~with the participation~~ of ~~our~~interest ~~current~~to ~~chief~~pay ~~executive officer and chief financial officer (~~our ~~“Certifying~~dissolution ~~Officer”~~expenses), ~~the effectiveness of our disclosure controls~~ and ~~procedures~~ asthen ofseek ~~September 30, 2024, pursuant~~ to ~~Rule~~dissolve ~~13a-15(b)~~and ~~under the Exchange Act~~liquidate. ~~Based upon that evaluation~~However, ~~our~~we ~~Certifying~~may ~~Officers~~not ~~concluded that,~~be asable ofto ~~September~~distribute ~~30,~~such ~~2024,~~amounts ~~our~~as ~~disclosure~~a ~~controls~~result ~~and~~of ~~procedures~~claims ~~were~~of ~~not~~creditors ~~effective~~which ~~due~~may take topriority aover ~~material~~the ~~weakness~~claims inof our ~~internal control~~public ~~over~~stockholders. ~~financial~~In ~~reporting related to~~ the ~~protection~~event of ~~funds~~our ~~permitted~~dissolution ~~for~~and ~~withdrawal~~liquidation, ~~from~~ the ~~Trust~~Rights ~~Account,~~(as ~~the~~defined ~~Company’s~~below) ~~non-compliance~~and ~~with~~Public ~~the investment management trust agreement~~ and ~~incorrectly~~Private ~~filing~~Placement ~~income~~Warrants ~~taxes~~will inexpire ~~the~~and ~~state~~will ofbe ~~Delaware~~worthless.

~~We do~~Nasdaq not expect that our disclosure controls and procedures will prevent all errors and all instances of fraud. Disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the disclosure controls and procedures are met. Further, the design of disclosure controls and procedures must reflect the fact that there are resource constraints, and the benefits must be considered relative to their costs. Because of the inherent limitations in all disclosure controls and procedures, no evaluation of disclosure controls and procedures can provide absolute assurance that we have detected all our control deficiencies and instances of fraud, if any. The design of disclosure controls and procedures also is based partly on certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.Delisting

~~Changes~~As previously disclosed, on September 17, 2024, we inreceived ~~Internal~~a ~~Control~~written ~~over~~notice ~~Financial~~(the ~~Reporting~~“Notice”) from the staff of the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that we had failed to comply with Nasdaq Listing Rule IM-5101-2, which requires that a special purpose acquisition company must complete one or more business combinations within 36 months of the effectiveness of its initial public offering registration statement. In response to the Notice, we timely requested a hearing before a Nasdaq Hearings Panel (the “Panel”), which was held on November 12, 2024. On December 17, 2024, we received a written notice (the “Decision”) from Nasdaq that the Panel had granted our request to continue our listing on Nasdaq until March 17, 2025 (the “Extended Date”), provided that we comply with certain conditions, including that we would have completed the Initial Business Combination on or before the Extended Date, and that the combined company would have demonstrated compliance with all applicable requirements for an initial listing on Nasdaq.

~~There were~~On noMarch ~~changes~~18, in2025, ~~our~~we ~~internal~~received ~~control~~a ~~over~~written ~~financial~~notice ~~reporting~~ (asthe “Delisting ~~such~~Notice”) ~~term~~from isthe ~~defined~~Panel inindicating ~~Rules~~that ~~13a-15(f)~~the ~~and~~Panel ~~15d-15(f)~~had ofdetermined ~~the~~to ~~Exchange~~delist our securities from Nasdaq and that ~~Act)~~trading ~~during~~in ~~the~~our ~~most~~securities ~~recent~~would ~~fiscal~~be ~~quarter~~suspended ~~that~~at ~~have~~the ~~materially~~open ~~affected~~of trading on March 20, or2025, ~~are~~due ~~reasonably~~to ~~likely~~our failure to ~~materially~~satisfy ~~affect,~~the ~~our~~terms ~~internal~~of the ~~control~~Panel’s ~~over~~Decision, ~~financial~~including ~~reporting~~the requirement that we complete the Initial Business Combination on or before the Extended Date.

~~Disclosure controls~~In ~~and~~connection ~~procedures~~with ~~are~~the ~~controls~~delisting and ~~other~~suspension, ~~procedures~~we expect that ~~are~~Nasdaq ~~designed~~will tocomplete ~~ensure~~the ~~that~~delisting ~~information~~by ~~required~~filing toa beNotification ~~disclosed~~of inRemoval ~~our reports~~from ~~filed~~Listing and/or ~~submitted~~Registration under ~~the~~Section ~~Exchange~~12(b) of ~~Act~~the isSecurities ~~recorded,~~and ~~processed,~~Exchange ~~summarized~~Act ~~and~~of ~~reported~~1934 ~~within~~on ~~the~~Form ~~time~~25 ~~periods~~with ~~specified in~~ the SEC’s ~~rules~~after ~~and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed or submitted under~~ the ~~Exchange~~applicable ~~Act~~Nasdaq isreview ~~accumulated~~ and ~~communicated to~~appeal ~~our~~periods ~~management,~~have ~~including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure~~lapsed.

~~PART~~Following suspension of trading on Nasdaq, our IIPublic Shares, Rights, Units and Public Warrants commenced trading on the OTC Markets under the tickers “WINV,” “WINVR,” “WINVU,” and “WINVW,” respectively. There may be a very limited market in which our securities are traded, and the trading price of the Company’s securities may be adversely affected. We can provide no assurance that our securities will continue to trade on this market, whether broker-dealers ~~OTHER~~will ~~INFORMATION~~continue to provide public quotes of our securities on this market, or whether the trading volume of our securities will be sufficient to provide for an efficient trading market for existing and potential holders of our securities.

~~Item 1. Legal Proceedings~~28

~~None.~~Results of Operations and Known Trends or Future Events

~~Item~~All activities through March 31, 2025 were related 1Ato our organizational activities, preparation for our Initial Public Offering, and, after our Initial Public Offering, identifying a target company for an Initial Business Combination and working to consummate our Initial Business Combination. ~~Risk~~We ~~Factors~~will not generate any operating revenues until after completion of our Initial Business Combination. Subsequent to our Initial Public Offering on September 17, 2021, we generate non-operating income in the form of interest on cash and cash equivalents held in the Trust Account, and prior to the liquidation of the money market funds held in the Trust Account in January 2025, we generated dividend income on such money market funds. There has been no significant change in our trading position and no material adverse change has occurred since the date of our audited financial statements. We incur ongoing expenses as a result of being a public company for legal, financial reporting, accounting and auditing compliance, as well as for due diligence expenses.

~~There~~For the three months ended March 31, 2025, our ~~have~~net ~~been~~loss nowas ~~material~~$708,544 ~~changes~~and expenses from operating activities were $730,258, as compared to a net loss of $106,446 and expenses from operating activities of $225,101 for the ~~risk~~three ~~factors~~months ~~identified~~ended March 31, 2024. These increases were mainly due to an increase in legal and professional fees for the three months ended March 31, 2025, as compared to the three months ended March 31, 2024 due to efforts being made to complete our ~~Annual~~Initial ~~Report~~Business onCombination. ~~Form~~We ~~10-K~~intend to use our operating cash held outside the Trust Account and any funds that we may borrow under promissory notes issued to our Sponsor primarily to evaluate target businesses, perform ~~filed~~business due diligence on ~~April~~prospective 15target businesses, ~~2024~~travel to and from the offices, ~~except~~plants asor ~~set~~similar locations of ~~forth~~prospective ~~below:~~target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete an Initial Business Combination.

~~There are~~Liquidity, noCapital ~~assurances~~Resources ~~that~~and ~~the~~Going ~~Charter Extension Amendment will enable us to complete an Initial Business Combination.~~Concern

~~Approving the~~As ~~Charter Extension Amendment involves a number~~ of ~~risks.~~March ~~Even~~31, ~~if the Charter Extension Amendment is approved~~2025, we ~~can~~had ~~provide~~$580 noin ~~assurances~~our operating ~~that~~bank ~~the~~account ~~Initial~~and ~~Business~~a ~~Combination~~working ~~will~~capital bedeficit ~~consummated~~of ~~prior to June 17~~$6,637,935, ~~2025.~~as ~~Our~~compared ~~ability~~ to ~~consummate~~$566 ~~any~~in ~~Initial~~our ~~Business~~operating ~~Combination is~~bank ~~dependent~~account onand a ~~variety~~working capital deficit of ~~factors~~$5,813,265 ~~many~~as of ~~which~~December ~~are~~31, ~~beyond our control~~2024. WeOur ~~are~~liquidity ~~required~~needs toprior ~~offer stockholders the opportunity~~ to ~~redeem~~ ~~shares in connection with~~ the ~~vote~~consummation toof ~~approve~~ the ~~Charter~~Initial ~~Extension~~Public ~~Amendment,~~Offering ~~and~~had webeen ~~will be required to offer stockholders redemption~~satisfied ~~rights~~through ~~again~~proceeds infrom ~~connection~~advances ~~with~~from ~~any~~a ~~stockholder~~related ~~vote~~party, ~~to approve the Initial Business Combination. Even if the Charter Extension Amendment is approved by~~ our ~~stockholders~~Sponsor, itand isfrom ~~possible~~the ~~that~~issuance ~~redemptions~~of ~~will~~Common ~~leave~~Stock. usSubsequent ~~with insufficient cash~~ to ~~consummate~~ the ~~Initial Business~~consummation ~~Combination~~of onthe ~~commercially~~Initial ~~acceptable~~Public ~~terms~~Offering, orliquidity athas ~~all.~~been ~~The~~satisfied ~~fact~~through ~~that~~the wenet ~~will~~proceeds ~~have~~from ~~separate redemption periods in connection with~~ the ~~Charter~~ ~~Extension~~consummation ~~Amendment~~of ~~vote and~~ the Initial ~~Business~~Public ~~Combination vote could exacerbate these risks. Other than in connection with~~Offering, athe ~~redemption~~proceeds ~~offer~~from ~~or liquidation,~~ our ~~stockholders~~Sponsor’s ~~may~~purchase ~~be unable to recover their investment except through sales~~ of ~~our~~Private ~~Public~~Placement ~~Shares on~~Warrants ~~the~~held ~~open~~outside ~~market. The price~~ of our ~~Public~~Trust ~~Shares~~Account ~~may be volatile,~~ and ~~there~~loans ~~can~~from bethe noSponsor. We ~~assurance~~believe ~~that~~we ~~stockholders~~ will beneed ~~able~~ to ~~dispose of~~access ~~their~~additional ~~Public~~liquidity ~~Shares~~in atorder ~~favorable~~to ~~prices,~~consummate oran atInitial ~~all~~Business Combination.

On March 16, 2021, we issued an unsecured promissory note to the Sponsor, which note was amended on March 27, 2022 (the “March 2021 Promissory Note”), pursuant to which we may borrow up to an aggregate principal amount of $300,000, of which $300,000 was outstanding under the March 2021 Promissory Note as of March 31, 2025 and December 31, 2024. The March 2021 Promissory Note is non-interest bearing and payable on the date on which we consummate an Initial Business Combination. The Sponsor may elect to convert any portion or all of the amount outstanding under the March 2021 Promissory Note into warrants to purchase shares of our Common Stock at a conversion price of $0.50 per warrant, with each warrant entitling the holder thereof to acquire one-half share of Common Stock at an exercise price of $11.50 per whole share, commencing on the date of our Initial Business Combination. No such conversions have yet occurred. During 2023, we effected drawdowns of $300,000 under the March 2021 Promissory Note. These amounts remain outstanding as of March 31, 2025. The purpose of each drawdown is for the payment of expenses associated with operations and those necessary to initiate an Initial Business Combination.

~~The~~On September 17, 2021, we consummated our Initial ~~Excise~~Public ~~Tax~~Offering ~~included~~of in10,000,000 units (the ~~Inflation~~“Units”). ~~Reduction~~Each ~~Act~~Unit consists of ~~2022~~one ~~may~~share ~~decrease~~of Common Stock, one redeemable warrant (the ~~value~~“Public Warrant”), with each Public Warrant entitling the holder thereof to purchase one-half (1/2) of ~~our~~one ~~securities~~share ~~following~~of ~~our~~Common Stock ~~Initial~~at ~~Business~~an ~~Combination~~exercise price of $11.50 per whole share, subject to adjustment, and one right (the “Right”), with each Right ~~hinder~~entitling ~~our~~the ~~ability~~holder thereof to ~~consummate~~receive one-fifteenth (1/15) of one share of Common Stock upon the consummation by us of an Initial Business Combination. ~~and~~The ~~decrease~~Units ~~the~~were ~~amount~~sold at an offering price of ~~funds~~$10.00 ~~available~~per ~~for~~Unit, ~~distribution~~generating ingross ~~connection~~proceeds of $100,000,000 (before underwriting ~~with~~discounts aand ~~liquidation~~commissions and offering expenses).

~~On August~~Simultaneously ~~16,~~with ~~2022,~~the ~~President~~consummation ~~Biden~~of ~~signed~~the ~~into~~Initial Public ~~law~~Offering and the ~~Inflation~~issuance ~~Reduction~~and ~~Act~~sale of ~~2022,~~the ~~which~~Units, ~~among~~we ~~other~~completed ~~things, imposes a 1% excise tax on~~ the ~~fair~~private ~~market~~sale ~~value~~ of ~~stock~~10,000,000 ~~repurchased~~warrants by(the “~~covered~~Private ~~corporations~~Placement Warrants,” ~~beginning~~and oncollectively ~~January~~with 1,the ~~2023~~Public Warrants, ~~with certain exceptions (~~the “~~Excise Tax~~Warrants”). ~~The~~at ~~Excise~~a ~~Tax~~price isof ~~imposed~~$0.50 onper ~~the~~Private ~~repurchasing~~Placement ~~corporation~~Warrant to ~~itself~~the Sponsor, ~~not~~generating ~~its~~gross ~~stockholders~~proceeds ~~from~~of ~~which~~$5,000,000 (such sale, the ~~stock~~ is“Private ~~repurchased~~Placement”). ~~The~~Each ~~amount~~Private ofPlacement Warrant entitles the ~~Excise~~holder ~~Tax~~thereof isto ~~generally~~purchase 1%one-half of ~~the~~one ~~fair~~share ~~market value~~ of ~~the~~Common ~~shares~~Stock ~~repurchased~~ at ~~the~~a ~~time~~price of ~~the~~ ~~repurchase~~$11.50 ~~However,~~per ~~for~~whole ~~purposes of calculating the Excise Tax~~share, ~~repurchasing~~subject ~~corporations are permitted~~ to ~~net the fair market value~~adjustment. ofThe ~~certain~~Private ~~new~~Placement ~~stock~~Warrants ~~issuances~~are ~~against~~identical ~~the~~to ~~fair market value of stock repurchases during~~ the ~~same~~Public ~~taxable year~~Warrants.

~~The U.S.~~On ~~Department~~September of23, ~~the~~2021, ~~Treasury~~our ~~(the~~underwriters ~~“Treasury~~fully ~~Department”)~~exercised the ~~has~~over-allotment ~~authority~~option ~~to promulgate regulations~~ and ~~provide~~purchased ~~other~~an ~~guidance regarding~~additional ~~the Excise Tax. In December 2022~~1,500,000 Units (the ~~Treasury Department issued Notice 2023~~“Over-2Allotment Units”), ~~indicating~~generating ~~its~~gross ~~intention to propose such regulations~~proceeds ~~and~~of ~~issuing~~$15,000,000 ~~certain interim rules~~ on ~~which~~September ~~taxpayers~~27, ~~may rely~~2021. ~~Under~~Simultaneously ~~the~~with ~~interim rules, liquidating distributions made by publicly traded domestic corporations are exempt from~~ the ~~Excise~~sale ~~Tax.~~of InOver-Allotment ~~addition~~Units, ~~any~~we ~~redemptions~~consummated ~~that~~a ~~occur~~private insale ~~the~~of ~~same~~an ~~taxable year in which a liquidation~~additional is900,000 ~~completed~~Private ~~will~~Placement ~~also~~Warrants be(the ~~exempt~~“Additional ~~from~~Private ~~such~~Placement ~~tax.~~Warrants”) ~~Redemptions~~to ofthe ~~our~~Sponsor ~~Public~~at ~~Shares~~a inpurchase ~~connection~~price ~~with an amendment to our Certificate~~ of $0.50 ~~Incorporation~~per orPrivate inPlacement ~~connection~~Warrant, ~~with~~generating angross ~~Initial~~proceeds ~~Business Combination may subject us to the Excise Tax unless one~~ of ~~the two exceptions above apply~~$450,000.

~~If the~~We ~~Charter~~paid Extension Amendment is approved, our public stockholders will have the right to require us to redeem their public stock. Any redemption or other repurchase that we make in connection with the Charter Extension Amendment may be subject to the Excise Tax. Consequently, the value of our stockholder’s investment in our securities may decrease and the amount our stockholders may receive upon redemption may be negatively impacted as a ~~result~~total of ~~the Excise Tax to the extent we do not liquidate by December 31~~$2, ~~2024. Whether and to what extent we would be subject to the Excise Tax would depend on a number of factors~~400,000 ~~including (i) the fair market value of the redemptions and repurchases~~ in ~~connection~~underwriting ~~with our Initial Business Combination~~discounts, ~~(ii) the structure of an Initial Business Combination,~~ ~~(iii)~~expenses ~~the nature~~ and ~~amount~~commissions ~~of any “PIPE” or other equity issuances in connection with an Initial Business Combination~~ (~~or otherwise issued~~ not inincluding ~~connection~~deferred ~~with~~underwriting ancommissions ~~Initial~~of ~~Business~~$4,025,000 ~~Combination~~payable ~~but~~only ~~issued~~upon ~~within~~completion ~~the same taxable year~~ of anour Initial Business Combination) and ~~(iv)~~$523,969 ~~the~~for ~~content~~other ofcosts ~~regulations~~ and ~~other~~expenses ~~guidance~~related ~~from~~to the ~~Treasury~~Initial ~~Department.~~Public ~~In addition~~Offering, ~~because~~resulting ~~the~~in ~~Excise~~aggregate ~~Tax would~~net beproceeds ~~payable by us, and not by the redeeming holder, the mechanics of any required payment of the Excise Tax have not been determined.~~from ~~The foregoing could cause a reduction in~~ the ~~cash available for a stockholder redemption, could cause a reduction in the cash available to complete an~~ Initial ~~Business~~Public ~~Combination~~Offering and ~~could~~overallotment ~~have~~of ~~an adverse effect on our ability to complete an Initial Business Combination~~$112,076,031.

We are required by the Nasdaq Listing Rules to consummate an Initial Business Combination within 36 months of the effectiveness of our IPO Registration Statement. As a result of our failure to consummate an Initial Business Combination within this time period, our securities could be subject to delisting.29

~~Pursuant to~~As ~~IM-5101-2(b)~~ of ~~the~~September ~~Nasdaq~~27, ~~Listing~~2021, ~~Rules~~a total of $116,150,000 of wethe ~~must~~net ~~consummate~~proceeds anfrom the Initial ~~Business~~Public ~~Combination~~Offering byand the ~~36-month~~sale ~~anniversary~~ of the ~~effectiveness of~~Private ~~our~~Placement ~~IPO~~Warrants ~~Registration~~and ~~Statement,~~the orAdditional ~~September~~Private ~~14,~~Placement Warrants ~~2024~~were (deposited in the ~~“Nasdaq~~Trust ~~Deadline”).~~Account, Weand ~~did~~we ~~not~~had ~~complete~~$638,000 anof ~~Initial~~cash ~~Business Combination~~held ~~prior~~outside toof the ~~Nasdaq~~Trust ~~Deadline.~~Account, Asafter apayment ~~result,~~of wecosts ~~are~~related to inthe ~~violation~~Initial ofPublic ~~Nasdaq IM-5101-2~~Offering.

32On December 5, 2022, we issued the First Extension Note to our Sponsor in the principal amount of $750,000. On December 5, 2022, we effected the first drawdown of $125,000 under the First Extension Note and caused the Sponsor to deposit such sum into the Trust Account in connection with the extension of the Termination Date from December 17, 2022 to January 17, 2023. During 2023, we effected drawdowns of $625,000 under the First Extension Note and caused such sums to be deposited into the Trust Account in connection with the extension of the Termination Date from January 17, 2023 to June 17, 2023.

~~As previously~~In ~~reported,~~connection onwith ~~September 17, 2024, we received a written notice (~~the ~~“Notice”)~~vote ~~from the Listing Qualifications Department of The Nasdaq Capital Market, LLC (“Nasdaq”) indicating that we had failed~~ to ~~comply~~approve ~~with Nasdaq Listing Rules IM-5101-2. On September 24, 2024, we timely requested a hearing before The Nasdaq Hearings Panel (~~the ~~“Panel”), which was held on~~ November ~~12,~~2022 ~~2024.~~Extension AsAmendment, of the ~~date~~holders of ~~this filing~~9,606,887 weshares ~~have not yet received a written decision from the Panel with the results~~ of ~~the~~Public ~~hearing. Our~~Shares ~~securities~~properly ~~will~~exercised ~~continue~~their right to ~~trade~~redeem ontheir ~~Nasdaq~~shares ~~until the hearing process concludes~~ (and ~~the Panel issues a written decision. However,~~ ~~there~~did ~~can~~not bewithdraw notheir ~~assurance~~redemption) ~~that~~for ~~the~~cash ~~Panel~~at ~~will grant our request for~~ a ~~suspension~~redemption ofprice delisting or continued listing on Nasdaq. If the Panel does not grant our request, our securities will be delisted from Nasdaq. Additionally, even if the Panel grants our request, the proposed extension of ~~the~~approximately ~~Termination Date to June 17, 2025 would exceed the six-month extension the Company has requested from the Panel (the “Nasdaq Extension”)~~$10.20 Asper ~~a result~~share, iffor ~~the Nasdaq Extension is granted and the Charter Extension Amendment is approved but we do not complete~~ an ~~Initial~~aggregate ~~Business~~redemption ~~Combination prior to the expiration~~ amount of ~~the~~approximately ~~Nasdaq Extension, Nasdaq may issue a Staff Delisting Determination under Rule 5810 to delist our securities~~$98.0 ~~If Nasdaq delists our securities from trading on its exchange, we could face significant material adverse consequences, including:~~million.

●On ~~the~~June ~~price~~13, of2023, ~~our~~we ~~securities~~issued ~~will likely decrease as a result of~~ the ~~loss~~Second ofExtension ~~market efficiencies associated with being listed on Nasdaq; ● holders may be unable~~ Note to ~~sell or purchase~~ our ~~securities~~Sponsor ~~when~~in ~~they~~the ~~wish~~principal toamount doof ~~so;~~$390,000. ●During we2023, ~~may become subject to shareholder litigation; ●~~ we ~~may~~effected ~~lose~~drawdowns ~~the interest~~ of ~~institutional~~$390,000 ~~investors~~under inthe ~~our~~Second ~~securities;~~Extension ●Note ~~we may lose media~~ and caused ~~analyst~~such ~~coverage;~~sums ~~and~~to ●be wedeposited ~~would~~into ~~likely~~the ~~lose~~Trust ~~any~~Account ~~active~~in ~~trading~~connection ~~market~~with ~~for~~the ~~our~~extension ~~securities,~~of asthe ~~our~~Termination ~~securities~~Date ~~may~~from ~~then~~June ~~only~~17, be2023 ~~traded~~to December ~~on one of the over-the-counter markets~~17, ~~if at all~~2023.

~~Nasdaq~~In connection with the vote to approve the June 2023 ~~may~~Extension ~~delist~~Amendment, ~~our~~the ~~securities~~holders ~~from~~of ~~trading~~627,684 onshares ~~its~~of ~~exchange~~Public ~~following~~Shares ~~redemptions~~properly byexercised ~~our~~their ~~stockholders~~right into ~~connection~~redeem ~~with~~their ~~approval~~shares of(and ~~the~~did ~~Charter~~not ~~Extension~~withdraw ~~Amendment,~~their ~~which~~redemption) ~~could~~for ~~limit~~cash ~~investors’~~at ~~ability~~a toredemption ~~make~~price ~~transactions~~of inapproximately ~~our~~$10.71 ~~securities~~per ~~and~~share, ~~subject~~for usan toaggregate ~~additional~~redemption ~~trading~~amount of approximately ~~restrictions~~$6,721,795.

~~Our Common~~On ~~Stock,~~October ~~Units~~31, 2023, ~~Warrants~~we ~~and~~issued ~~Rights~~an ~~are~~unsecured ~~listed~~promissory onnote ~~Nasdaq.~~to ~~After~~ the ~~Stockholder~~Sponsor ~~Meeting,~~(the we“October ~~may~~2023 bePromissory ~~required~~Note”), pursuant to ~~demonstrate~~which ~~compliance~~we may ~~with~~borrow ~~Nasdaq’s~~up ~~continued~~to ~~listing~~an ~~requirements~~aggregate inprincipal ~~order~~amount toof ~~maintain~~$1,000,000. ~~the~~As ~~listing~~ of ~~our~~March ~~securities~~31, on2025, ~~Nasdaq. Such continued listing~~we ~~requirements~~had ~~for~~effected ~~our~~drawdowns ~~Common~~of ~~Stock include~~$1, ~~among other things~~000,000 under the ~~requirement~~October to2023 ~~maintain~~Promissory atNote. ~~least~~The ~~300~~October ~~public~~2023 ~~holders,~~Promissory atNote ~~least~~does ~~500,000 publicly~~not ~~held~~bear ~~shares~~interest and matures aupon ~~market~~the ~~value~~closing of ~~publicly~~the ~~held~~Initial ~~shares~~Business ~~of $1~~Combination.0 ~~million.~~In ~~Pursuant~~the toevent ~~the~~that ~~terms~~we ofdo ~~our~~not ~~Certificate~~consummate ofan ~~Incorporation~~Initial Business Combination, inthe ~~connection~~October ~~with~~2023 ~~the~~Promissory ~~Charter~~Note ~~Extension~~will ~~Amendment,~~be ~~stockholders~~repaid ~~may~~only ~~elect~~from toamounts ~~redeem~~remaining ~~their~~outside ~~Public~~of ~~Shares~~the ~~and~~Trust Account, asif aany. ~~result,~~The wepurpose ~~may~~of ~~not~~each bedrawdown inis ~~compliance~~for the payment of expenses associated with ~~Nasdaq’s~~operations ~~continued~~and ~~listing~~those ~~requirements~~necessary to initiate an Initial Business Combination.

~~If our~~In ~~securities~~connection dowith ~~not~~the ~~meet~~approval ~~Nasdaq’s~~of ~~continued~~the ~~listing~~November ~~requirements, Nasdaq may delist our securities from trading on its exchange.~~2023 IfExtension ~~Nasdaq~~Amendment ~~delists any of our securities from trading~~ on ~~its~~November ~~exchange~~30, ~~and~~2023, ~~we are not able to list such securities~~ on ~~another~~December ~~approved national~~13, ~~securities exchange~~2023, we ~~expect~~issued ~~that such securities could be quoted on an over-~~the~~-counter~~ ~~market.~~Third IfExtension ~~this~~Note ~~were~~ to ~~occur, we could face significant material adverse consequences, including: (i) a limited availability of market quotations for~~ our ~~securities~~Sponsor, ~~(ii)~~ ~~reduced~~pursuant ~~liquidity~~to ~~for our securities, (iii) a determination that our Public Shares are a “penny stock,”~~ which ~~will require~~our ~~brokers~~Sponsor ~~trading~~agreed ~~in our Public Shares~~ to ~~adhere~~loan tous ~~more~~up ~~stringent rules, including being subject~~ to ~~the depository requirements of Rule 419 of the Securities Act~~$330,000 ~~possibly resulting~~ in aconnection ~~reduced~~with ~~level of trading activity in~~ the ~~secondary~~extension ~~trading market for our securities, (iv) a limited amount~~ of ~~news and analyst coverage for our company, (v) a decreased ability to issue additional securities or obtain additional financing in~~ the ~~future,~~Termination ~~and (vi) a less attractive acquisition vehicle to a target business in connection with a business combination~~Date. The ~~National~~balance ~~Securities~~on ~~Markets Improvement Act of 1996, which is a federal statute, prevents or preempts~~ the ~~states~~Third ~~from~~Extension ~~regulating~~Note ~~the~~as ~~sale~~ of ~~certain~~March ~~securities~~31, ~~which~~2025 ~~are~~was ~~referred to as “covered securities.” Our Common Stock~~$330, ~~Units, Warrants and Rights qualify as covered securities under such statute~~000. ~~If we were no longer listed on Nasdaq, our securities would not qualify as covered securities under such statute and we would be subject to regulation in each state in which we offer our securities.~~

33In connection with the vote to approve the November 2023 Extension Amendment, the holders of 122,306 shares of Public Shares properly exercised their right to redeem their shares (and did not withdraw their redemption) for cash at a redemption price of approximately $10.81 per share, for an aggregate redemption amount of approximately $1,322,518. Following such redemptions, 1,143,123 shares of Public Shares remained outstanding.

~~The Company~~In ~~has~~connection ~~identified~~with ~~material~~the ~~weaknesses~~approval inof ~~its~~the ~~internal~~June ~~control~~2024 ~~over~~Extension Amendment ~~financial~~on ~~reporting.~~June If3, ~~the~~2024, ~~Company~~on isJune ~~unable~~12, to2024, ~~develop~~we ~~and maintain~~issued anthe ~~effective~~Fourth ~~system~~Extension ofNote ~~internal~~to ~~control~~our ~~over financial reporting~~Sponsor, ~~the~~pursuant ~~Company~~to ~~may~~which ~~not~~our beSponsor ~~able~~ agreed to ~~accurately~~loan ~~report~~us ~~its~~up ~~financial results~~to $180,000 in aconnection ~~timely~~with ~~manner,~~the ~~which~~extension ~~may~~of ~~adversely~~the ~~affect~~Termination ~~investor~~Date. ~~confidence~~The inbalance on the ~~Company~~Fourth ~~and~~Extension ~~materially~~Note ~~and~~as ~~adversely~~of ~~affect the Company’s~~March ~~business~~31, ~~and~~2025 ~~operating~~was ~~results~~$180,000.

~~During the~~In ~~preparation~~connection ofwith the ~~Company’s~~vote ~~financial~~to ~~statements~~approve asthe ofJune ~~and~~2024 Extension ~~for~~Amendment, the ~~period~~holders ~~ended~~of ~~September 30~~650,790 ~~2023,~~Public ~~the~~Shares ~~Company~~properly ~~identified a~~exercised ~~material~~their ~~weakness~~right into ~~its~~redeem ~~internal~~their ~~control~~shares ~~over~~(and ~~financial~~did ~~reporting~~not ~~related~~withdraw their toredemption) ~~incorrectly~~for ~~filing~~cash ~~income~~at ~~taxes~~a inredemption ~~the~~price ~~state~~ of ~~Delaware~~approximately $11. ~~The~~32 ~~Company~~per ~~filed~~share, for an ~~amended~~aggregate ~~return~~redemption inamount ~~Delaware~~of ~~and~~approximately $7,367,204. ~~will~~Following ~~file~~such ~~its income tax returns in the U.S.~~redemptions, ~~Massachusetts~~492,333 ~~and~~Public ~~Florida~~Shares ~~jurisdictions~~remained outstanding.

During the preparation of the Company’s financial statements as of and for the year ended December 31, 2023 and the period ended March 31, 2024, the Company identified material weaknesses in its internal control over financial reporting related to its Trust Account withdrawals. In 2023, the Company withdrew $898,940 of interest and dividend income earned in the Trust Account, which was restricted for payment of the Company’s tax liabilities as provided in the Company’s Certificate of Incorporation. In the period ended March 31, 2024, the Company withdrew $40,050 of interest and dividend income earned in the Trust Account and received a tax refund of $104,305 that was previously paid with the interest and dividend income earned on the Trust Account. During both the year ended December 31, 2023 and the periods ended June 30, 2024 and March 31, 2024, portions of these funds were inadvertently used for the payments of general operating expenses. Such amounts were disbursed without appropriate review and approval to ensure that the disbursements were made in accordance with the investment management trust agreement between Continental Stock Transfer & Trust Company and the Company. As a result of this issue, management concluded that a material weakness exists in our internal control over financial reporting related to the review and approval of cash disbursements.

~~Item~~In connection with the approval of the December 2024 2.Extension ~~Unregistered~~Amendment ~~Sales~~on December 10, 2024, on December 16, 2024, we issued the Fifth Extension Note to our Sponsor, pursuant to which our Sponsor agreed to loan us up to $180,000 in connection with the extension of ~~Equity~~the ~~Securities~~Termination ~~and~~Date. ~~Use~~The balance on the Fifth Extension Note as of ~~Proceeds~~March 31, 2025 was $120,000.

~~For a~~In ~~description~~connection ofwith the ~~use~~vote ofto approve the ~~proceeds~~December 2024 ~~generated~~Extension inAmendment, ~~our~~the ~~Initial~~holders ~~Public~~of ~~Offering~~233,555 ~~see~~Public ~~Part~~Shares Iproperly exercised their right to redeem their shares (and did not withdraw their redemption) for cash at a redemption price of approximately $12.00 per share, ~~Item~~for 2an aggregate redemption amount of approximately ~~this~~$2,801,498. ~~Form~~Following ~~10-Q~~such redemptions, 258,778 Public Shares remained outstanding.

~~Item~~On January 31, 2025, we issued the January 2025 Promissory Note to the Sponsor, pursuant to which we may borrow up to an aggregate principal amount 3of $1,000,000. ~~Defaults~~The January 2025 Promissory Note does not bear interest and matures upon ~~senior~~the ~~securities~~closing of the Initial Business Combination. In the event that the Company does not consummate an Initial Business Combination, the January 2025 Promissory Note will be repaid only from amounts remaining outside of the Trust Account, if any. As of March 31, 2025, we have effected drawdowns of $122,202 under the January 2025 Promissory Note.

~~None~~As of March 31, 2025, we had cash held in the Trust Account of approximately $3.3 million. We intend to use substantially all of the remaining funds held in the Trust Account, including any amounts representing interest earned on the Trust Account, which interest shall be net of taxes payable, to complete our Initial Business Combination. We may withdraw interest from the Trust Account to pay taxes and up to $100,000 of dissolution expenses, if any. To the extent that our share capital or debt is used, in whole or in part, as consideration to consummate an Initial Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.

~~Item~~The accompanying financial statements have 4been prepared on the basis that we will continue as a going concern, which assumes the realization of assets and the satisfaction of liabilities in the normal course of business. ~~Mine~~As ~~safety~~of ~~disclosures~~March 31, 2025, we had not commenced any operations. All activity for the fiscal years ended December 31, 2024, 2023 and 2022 and the three months ended March 31, 2025 relates to identifying a target company for an Initial Business Combination. We will not generate any operating revenues until after the completion of the Initial Business Combination, at the earliest. We generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Initial Public Offering, and prior to the liquidation of the money market funds held in the Trust Account in January 2025, we generated dividend income on such money market funds. Our ability to commence operations is contingent upon consummating an Initial Business Combination. We currently have until February 17, 2026.

~~None~~To the extent we are unable to consummate an Initial Business Combination, we will need to pay the costs of liquidation from our current available funds outside the Trust Account, including the approximate amount of $877,798 still available to us under the January 2025 Promissory Note as of March 31, 2025, and from up to $100,000 of interest income on the balance of the Trust Account (net of income and other tax obligations) that may be released to us to pay for dissolution expenses. If such funds are insufficient, our Sponsor has agreed to pay the funds necessary to complete such liquidation and has agreed not to seek repayment of such expenses. Based on these circumstances, management has determined that there is substantial doubt about our ability to continue as a going concern due to insufficient liquidity, the uncertainty of liquidity requirements and the mandatory liquidation date within one year.

~~Item~~Accordingly, the accompanying financial statements 5have been prepared in conformity with U.S. ~~Other~~GAAP, ~~information~~which contemplates continuation of the Company as a going concern and the realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

~~During the~~We ~~three~~do ~~months~~not ~~ended~~have ~~September~~any 30long-term debt, ~~2024~~capital lease obligations, operating ~~none~~lease obligations or long-term liabilities as of ~~the~~March ~~Company’s~~31, ~~directors~~2025, orother ~~executive~~than ~~officers~~an ~~adopted~~agreement orto ~~terminated~~pay our Sponsor a ~~“Rule~~monthly fee of ~~10b5-1~~$10,000 ~~trading~~for ~~arrangement”~~office orspace, ~~“non-Rule~~secretarial, ~~10b5-1~~and ~~trading~~administrative ~~arrangement~~support services provided to the Company. We began incurring these fees on September 14,” as2021 ~~each~~and ~~term~~will iscontinue ~~defined~~to inincur ~~Item~~these ~~408(a)~~fees monthly until the earlier of ~~Regulation~~the completion of an Initial Business Combination or the Company’s ~~S-K~~liquidation.

On November 14, 2024, the Company effected the sixth drawdown of $30,000 under the Fourth Extension Note and caused the Sponsor to deposit such sum into the Trust Account in connection with the extension of the Termination Date from November 17, 2024 to December 17, 2024.31

34Deferred underwriting discounts and commissions in an amount equal to 3.5% of the gross proceeds raised in the Initial Public Offering, or $4,025,000, will be payable to the underwriters upon the consummation of our Initial Business Combination and will be held in the Trust Account until the consummation of such Initial Business Combination.

~~Item 6.~~Off-Balance ~~Exhibits.~~Sheet Arrangements

Exhibit No.		Description
2.1		Amended and Restated Business Combination Agreement, dated as of September 16, 2024, by and among WinVest Acquisition Corp., WinVest (BVI) Ltd., Xtribe P.L.C. and Xtribe (BVI) Ltd. (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the SEC on September 16, 2024)
3.1		Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the SEC on September 20, 2021)
3.2		Certificate of Amendment to Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the SEC on December 6, 2022)
3.3		Certificate of Amendment to Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the SEC on June 16, 2023)
3.4		Certificate of Amendment to Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.2 to the Company’s Current Report on Form 8-K filed with the SEC on June 16, 2023)
3.5		Certificate of Amendment to Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the SEC on December 14, 2023)
3.6		Certificate of Amendment to Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the SEC on June 14, 2024)
3.7		Bylaws (incorporated by reference to Exhibit 3.3 to the Company’s Registration Statement on Form S-1 filed with the SEC on August 19, 2021)
31.1*		Certification of Principal Executive Officer and Principal Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1**		Certification of Principal Executive Officer and Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS		Inline XBRL Instance Document
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.SCH		Inline XBRL Taxonomy Extension Schema Document
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		Inline XBRL Taxonomy Extension Labels Linkbase Document
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

As of March 31, 2025, we did not have any off-balance sheet arrangements as defined in Item 303 of Regulation S-K. We do not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial assets.

*Critical ~~Filed~~Accounting ~~herewith. ** Furnished herewith.~~Estimates

35The preparation of financial statements and related disclosures in conformity with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and income and expenses during the periods reported. Actual results could materially differ from those estimates. Management has determined that the Company has no critical accounting estimates.

~~SIGNATURES~~Recent Accounting Pronouncements

In ~~accordance~~ ~~with~~November 2023, the ~~requirements~~FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the ~~Exchange~~chief ~~Act~~operating officer decision maker (“CODM”), as well as the ~~registrant~~aggregate ~~caused~~amount ~~this~~of ~~report~~other segment items included in the reported measure of segment profit or loss. The ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. Public entities will be ~~signed~~required onto ~~its~~provide ~~behalf~~all annual disclosures currently required by ~~the~~Topic ~~undersigned~~280 in interim periods, and entities with a single reportable segment are required to provide ~~thereunto~~all ~~duly~~the ~~authorized~~disclosures required by the amendments in this ASU and existing segment disclosures in Topic 280. We have adopted ASU 2023-07.

~~WINVEST~~ASU ~~ACQUISITION~~2023-09 requires ~~CORP.~~disaggregated ~~By:~~information /about a reporting entity’s/ ~~Manish~~effective ~~Jhunjhunwala~~tax ~~Manish~~rate ~~Jhunjhunwala~~reconciliation ~~Chief~~as ~~Executive~~well ~~Officer~~as ~~and~~information ~~Chief~~on ~~Financial~~income taxes ~~Officer~~paid. ~~(Principal~~The ~~Executive~~new ~~Officer~~standard is effective for public entities with annual periods beginning after December 15, ~~Principal~~2024, ~~Financial~~with ~~Officer~~early adoption permitted and ~~Principal~~should ~~Accounting~~be ~~Officer)~~applied prospectively with the option of retrospective application. We do not expect to early adopt this ASU. We are currently evaluating the impact of adopting this guidance on our balance sheets, results of operations and cash flows.

~~Date:~~We do not believe that any other recently issued, ~~November~~but 14not yet effective, ~~2024~~accounting pronouncements, if currently adopted, would have a material effect on our financial statements.

36ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and are not required to provide the information under this item.

ITEM 4. CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures

Disclosure controls are procedures that are designed with the objective of ensuring that information required to be disclosed in our reports filed under the Exchange Act, such as this Quarterly Report on Form 10-Q, is recorded, processed, summarized, and reported within the time period specified in the SEC’s rules and forms. Disclosure controls are also designed with the objective of ensuring that such information is accumulated and communicated to our management, including the chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding required disclosure. Our management evaluated, with the participation of our current chief executive officer and chief financial officer (our “Certifying Officer”), the effectiveness of our disclosure controls and procedures as of March 31, 2025, pursuant to Rule 13a-15(b) under the Exchange Act. Based upon that evaluation, our Certifying Officers concluded that, as of March 31, 2025, our disclosure controls and procedures were not effective due to a material weakness in our internal control over financial reporting related to the protection of funds permitted for withdrawal from the Trust Account, the Company’s non-compliance with the Trust Agreement and incorrectly filing income taxes in the state of Delaware and other accounting reconciliations.

We do not expect that our disclosure controls and procedures will prevent all errors and all instances of fraud. Disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the disclosure controls and procedures are met. Further, the design of disclosure controls and procedures must reflect the fact that there are resource constraints, and the benefits must be considered relative to their costs. Because of the inherent limitations in all disclosure controls and procedures, no evaluation of disclosure controls and procedures can provide absolute assurance that we have detected all our control deficiencies and instances of fraud, if any. The design of disclosure controls and procedures also is based partly on certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) during the most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None.

Item 1A. Risk Factors

There have been no material changes to the risk factors identified in our Annual Report on Form 10-K, filed on March 6, 2025, except as set forth below:

There are no assurances that the Charter Extension Amendment will enable us to complete an Initial Business Combination.

Approving the Charter Extension Amendment involves a number of risks. Even if the Charter Extension Amendment is approved, we can provide no assurances that the Initial Business Combination will be consummated prior to March 17, 2026. Our ability to consummate any Initial Business Combination is dependent on a variety of factors, many of which are beyond our control. We are required to offer stockholders the opportunity to redeem shares in connection with the vote to approve the Charter Extension Amendment, and we will be required to offer stockholders redemption rights again in connection with any stockholder vote to approve the Initial Business Combination. Even if the Charter Extension Amendment is approved by our stockholders, it is possible that redemptions will leave us with insufficient cash to consummate the Initial Business Combination on commercially acceptable terms, or at all. The fact that we will have separate redemption periods in connection with the Charter Extension Amendment vote and the Initial Business Combination vote could exacerbate these risks. Other than in connection with a redemption offer or liquidation, our stockholders may be unable to recover their investment except through sales of our Public Shares on the open market. The price of our Public Shares may be volatile, and there can be no assurance that stockholders will be able to dispose of their Public Shares at favorable prices, or at all.

We have been delisted from Nasdaq, and there is a limited trading volume for our securities on the OTC Markets.

Our securities were previously listed on The Nasdaq Capital Market. Nasdaq IM-5101-2 requires that a special purpose acquisition company complete one or more business combinations within 36 months of the effectiveness of its IPO Registration Statement, which, in the case of WinVest, was September 14, 2024 (the “Nasdaq Deadline”). We did not complete a business combination prior to the Nasdaq Deadline. As a result, we are in violation of Nasdaq IM-5101-2.

As previously reported, on September 17, 2024, we received the Notice from the Listing Qualifications Department of Nasdaq indicating that we had failed to comply with Nasdaq Listing Rules IM-5101-2. Pursuant to the Notice, unless we timely requested a hearing to appeal this determination before the Panel by September 24, 2024, our securities would be subject to suspension and delisting from The Nasdaq Capital Market at the opening of business on September 26, 2024.

On September 24, 2024, we timely requested a hearing before the Panel to appeal the Notice and to request sufficient time to close our Initial Business Combination with Xtribe, which request stayed the suspension of trading on our securities. Such hearing was held on November 12, 2024, at which we requested that the Panel grant our request for an extension until the Nasdaq Extension Date. On December 17, 2024, we received a written notice from the Office of General Counsel of Nasdaq informing us that the Panel had granted the Company’s request to continue its listing on Nasdaq until the Nasdaq Extension Date. The Panel’s decision allowed our securities to remain listed on Nasdaq through the Nasdaq Extension Date, provided that we comply with certain conditions, including that we would have completed our Initial Business Combination on or before the Nasdaq Extension Date, and that the combined company would have demonstrated compliance with all applicable requirements for an initial listing on Nasdaq.

On March 18, 2025, we received the Delisting Notice from the Panel, indicating that the Panel had determined to delist our securities from Nasdaq and that trading in our securities would be suspended at the open of trading on March 20, 2025, due to our failure to satisfy the terms of the Panel’s decision, including the requirement that we complete an Initial Business Combination on or before the Nasdaq Extension Date.

Our Public Shares, Rights, Units and Public Warrants are currently traded under the symbols “WINV,” “WINVR,” “WINVU,” and “WINVW,” respectively, on the OTC Markets, which is an inter-dealer automated quotation system for equity securities not listed on a national securities exchange. We do not currently meet the listing standards of Nasdaq or any other national securities exchange. We presently anticipate that our securities will continue to be quoted on the OTC Markets. There is a limited trading volume for our securities. As a result, relatively small trades of our securities may have a significant impact on the price of our securities and, therefore, may contribute to the price volatility of our securities. Because of limited trading volume in our securities and the price volatility of our securities, our existing investors may be unable to sell their securities when they desire or at the price they desire. The inability to sell their securities in a declining market because of such illiquidity or at a price they desire may substantially increase our investors’ risk of loss.

The delisting of our securities from Nasdaq may have an adverse effect on institutional investor interest in holding or acquiring our securities and otherwise reduce the number of investors willing to hold or acquire our securities. This could negatively affect our ability to raise capital necessary to maintain operations and service our debt or effect any restructuring of our outstanding indebtedness.

Other material adverse effects we may face as a result of the delisting of our securities from Nasdaq include:

	●	a limited availability of market quotations for our securities;
	●	a determination that our Public Shares are a “penny stock,” which will require brokers trading in such shares to adhere to more stringent rules and possibly result in a reduced level of trading activity in the secondary trading market for our securities;
	●	a limited amount of news and analyst coverage; and
	●	a decreased ability to issue additional securities or obtain additional financing in the future.

The National Securities Markets Improvement Act of 1996, which is a federal statute, prevents or preempts the states from regulating the sale of certain securities, which are referred to as “covered securities.” Although the states are preempted from regulating the sale of covered securities, the federal statute does allow the states to investigate companies if there is a suspicion of fraud, and, if there is a finding of fraudulent activity, then the states can regulate or bar the sale of covered securities in a particular case. While we are not aware of a state having used these powers to prohibit or restrict the sale of securities issued by special purpose acquisition companies, certain state securities regulators view blank check companies unfavorably and might use these powers, or threaten to use these powers, to hinder the sale of securities of blank check companies in their states. Further, now that we are not currently listed on Nasdaq, our securities do not qualify as covered securities under such statute and we are subject to regulation in each state in which we offer our securities.

The ordinary shares of the combined company being listed on Nasdaq is a condition to the closing of our Initial Business Combination. Since we do not currently meet the listing standards of Nasdaq, it may be difficult for us to meet, at the closing of the Initial Business Combination, the minimum initial listing standards set forth in the Nasdaq listing standards, and we cannot assure you that the newly listed ordinary shares of the combined company will be listed on Nasdaq. As such, our delisting from Nasdaq presents a material risk to the closing of the Initial Business Combination. If one or more closing conditions are not satisfied or waived, the Initial Business Combination will not occur, or will be delayed pending the waiver of such closing conditions, and such delay may cause WinVest and Embed Financial Group Cayman Holdings to each lose some or all of the intended benefits of the Initial Business Combination.

In addition, if we do not complete the Initial Business Combination, the delisting may make us less attractive as a merger partner for other potential target companies, as many targets seek to merge with entities that offer immediate access to a major national securities exchange. This could materially impair our ability to complete a business combination with other merger partners within the required timeframe, potentially subjecting us to dissolution and the return of funds held in trust to our public stockholders.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

For a description of the use of the proceeds generated in our Initial Public Offering, see Part I, Item 2 of this Form 10-Q.

Item 3. Defaults upon senior securities

None.

Item 4. Mine safety disclosures

None.

Item 5. Other information

During the three months ended March 31, 2025, none of the Company’s directors or executive officers adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

On May 15, 2025, the Company effected the sixth drawdown of $30,000 under the Fifth Extension Note and caused the Sponsor to deposit such sum into the Trust Account in connection with the extension of the Termination Date from May 17, 2025 to June 17, 2025. Such amounts will be distributed either to: (i) all of the holders of Public Shares upon the Company’s liquidation or (ii) holders of Public Shares who elect to have their shares redeemed in connection with (a) a vote to approve certain specified amendments to the Company’s Certificate of Incorporation or (b) the consummation of an Initial Business Combination.

On June 16, 2025, the Company held a special meeting of stockholders, at which the stockholders approved, among other things, the June 2025 Extension Amendment to extend the Termination Date from June 17, 2025 to July 17, 2025, and to allow the Company, without another stockholder vote, to elect to extend the Termination Date on a monthly basis for up to two times by an additional one month each time after July 17, 2025, by resolution of the Company’s board of directors, if requested by the Sponsor, and upon five days’ advance notice prior to the applicable Termination Date, until September 17, 2025, or a total of up to three months after June 17, 2025, unless the closing of the Company’s Initial Business Combination shall have occurred prior thereto, by causing $30,000 to be deposited into the Trust Account for each such extension.

On June 16, 2025, the Company issued the Sixth Extension Note to the Sponsor, pursuant to which the Sponsor agreed to loan to the Company up to $90,000 in connection with the termination date by which the Company must consummate an initial business combination. The Note does not bear interest and matures upon the earlier of (a) the closing of a Business Combination and (b) the Company’s liquidation. In the event that the Company does not consummate a Business Combination, the Note will be repaid only from amounts remaining outside of the Trust Account, if any. Through the date of this report, the Company has effected three drawdowns for a total of $90,000 on the Sixth Extension Note.

At the special meeting on June 16, 2025, the Company’s stockholders also voted in favor of a proposal to effect a corresponding amendment to the Investment Management Trust Agreement (the “Trust Agreement”) by and between the Company and Continental Stock Transfer & Trust Co. (the “Trustee”) to extend the date on which the Trustee must liquidate the Trust Account from June 17, 2025 to July 17, 2025, and to allow the Company, without another stockholder vote, to elect to further extend the liquidation date on a monthly basis for up to two times from July 17, 2025 to September 17, 2025.

On June 17, 2025, the Company and Continental entered into an amendment to the Trust Agreement to provide that in the event of the Company’s dissolution, up to $100,000 of interest income earned on the Trust Account may be used to cover the Company’s liquidation and dissolution expenses, consistent with the Company’s historic disclosure on the terms of the Trust Agreement.

Through the date of this report, the Company has caused $90,000 to be deposited into the Trust Account in connection with three drawdowns under the Sixth Extension Note pursuant to the extension of the termination date to September 17, 2025. Such amounts will be distributed either to: (i) all of the holders of shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”), issued as part of the units sold in the IPO (the “Public Shares”) upon the Company’s liquidation or (ii) holders of Public Shares who elect to have their shares redeemed in connection with the consummation of a Business Combination.

On August 29, 2025, the Company filed a definitive proxy statement with the SEC to amend its Certificate of Incorporation to extend the Termination Date from September 17, 2025 to October 17, 2025 upon the deposit into the Trust Account of $30,000, to be loaned to the Company by the Sponsor or one or more of its affiliates, members or third-party designees, and to allow the Company, without another stockholder vote, to elect to extend the Termination Date to for up to five Additional Extensions, by resolution of the Company’s board of directors, if requested by the Company’s Sponsor, and upon five days’ advance notice prior to the applicable Termination Date, until March 17, 2026, or a total of up to six months after September 17, 2025, unless the closing of an Initial Business Combination shall have occurred prior thereto, subject to the deposit of an additional $30,000 per Additional Extension into the Trust Account by the Sponsor or its affiliates, members or third-party designees.

Item 6. Exhibits.

Exhibit No.		Description
2.1		Amended and Restated Business Combination Agreement, dated as of September 16, 2024, by and among WinVest Acquisition Corp., WinVest (BVI) Ltd., Xtribe P.L.C. and Xtribe (BVI) Ltd. (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the SEC on September 16, 2024)

3.1		Amended and Restated Certificate of Incorporation, dated September 14, 2021, as amended through June 17, 2025

3.2		Bylaws (incorporated by reference to Exhibit 3.3 to the Company’s Registration Statement on Form S-1 filed with the SEC on August 19, 2021)

3.3		Extension Amendment to Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the SEC on June 18, 2025)

10.1		Promissory Note, dated January 31, 2025, between the Company and the Sponsor (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on January 31, 2025)

10.2		Promissory Note, dated June 16, 2025, between the Company and the Sponsor (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on June 18, 2025)

10.3		Amendment No. 5 to Investment Management Trust Agreement, dated September 14, 2021, by and between the Company and Continental Stock Transfer & Trust Company, as trustee (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed with the SEC on June 18, 2025)

10.4		Amendment No. 6 to Investment Management Trust Agreement, dated September 14, 2021, by and between the Company and Continental Stock Transfer & Trust Company, as trustee (incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed with the SEC on June 18, 2025)

31.1*		Certification of Principal Executive Officer and Principal Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1**		Certification of Principal Executive Officer and Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101.INS		Inline XBRL Instance Document
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.SCH		Inline XBRL Taxonomy Extension Schema Document
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		Inline XBRL Taxonomy Extension Labels Linkbase Document
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

*	Filed herewith.
**	Furnished herewith.

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	WINVEST ACQUISITION CORP.

	By:	/s/ Manish Jhunjhunwala
		Manish Jhunjhunwala
		Chief Executive Officer and Chief Financial Officer (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

Date: February 4, 2026

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