Quetta Acquisition Corp SEC 10-Q Report

Quetta Acquisition Corp, a company focused on acquiring businesses in the financial technology sector, has released its Form 10-Q report for the second quarter of 2025. The report provides a detailed overview of the company's financial performance and operational activities, including efforts towards a significant business combination and challenges faced in maintaining operations.

Financial Highlights

Net Income (Loss): The company reported a net loss of $(607,950) for the three months ended June 30, 2025, primarily due to general and administrative expenses and related party administrative fees. For the six months ended June 30, 2025, the net loss was $(801,621), driven by similar factors.

Net Income (Loss) Per Share, Redeemable Common Stock: For the three months ended June 30, 2025, the net loss per share for redeemable common stock was $(0.16). For the six months ended June 30, 2025, this figure was $(0.20).

Net Income (Loss) Per Share, Non-redeemable Common Stock: The net loss per share for non-redeemable common stock was $(0.16) for the three months ended June 30, 2025, and $(0.20) for the six months ended June 30, 2025.

Business Highlights

Business Combination Efforts: Quetta Acquisition Corp is actively pursuing a business combination with KM QUAD, a Cayman Islands company that is the parent company of Jiujiang Lida Technology Co., Ltd., a film product design and manufacturer in China. This transaction is expected to result in KM QUAD becoming a wholly-owned subsidiary of Quad Global, a subsidiary of Quetta.

Extension of Business Combination Deadline: The company has extended the deadline to complete its initial business combination to October 10, 2026, with the possibility of extending it on a month-by-month basis up to 21 times by depositing $60,000 into the trust account for each extension.

Redemption and Trust Account Adjustments: Following a special stockholder meeting, 5,199,297 shares were redeemed, resulting in approximately $55,152,224 being removed from the trust account. This left approximately $18,040,430 in the trust account.

Geographical Focus: The company is focusing its acquisition efforts on target businesses in Asia, particularly those operating in the financial technology sector. It has expanded its acquisition criteria to include entities with principal business operations in the People's Republic of China, Hong Kong, and Macau.

Board Changes: Following the death of board member Brandon Miller, Qi Gong was appointed as Chairperson of the Audit Committee, and Ping Zhang was appointed to the board, filling the vacancy and joining the Audit, Compensation, and Nominating Committees.

Operational Challenges and Going Concern: The company is facing significant professional costs to remain publicly traded and transaction costs in pursuit of a business combination. There is substantial doubt about the company's ability to continue as a going concern if a business combination is not completed within the specified period.

Future Outlook: The company is focused on completing the proposed business combination with KM QUAD and is actively managing its financial resources to ensure the transaction's success. The management is also evaluating the impact of global economic conditions and regulatory requirements on its operations.

SEC Filing: Quetta Acquisition Corp [ QETA ] - 10-Q - Aug. 19, 2025