Aetherium Acquisition Corp SEC 10-Q Report

Aetherium Acquisition Corp, a blank check company focused on the education, training, and education technology industries in Asia (excluding China), has released its Form 10-Q report for the quarter ending September 30, 2024. The report provides insights into the company's financial performance and operational status as it continues its search for a suitable business combination target.

Financial Highlights

Net Income (Loss): For the nine months ended September 30, 2024, Aetherium Acquisition Corp reported a net loss of $229,860. This loss was primarily due to operating costs of $907,192, franchise tax expense of $150,000, and the provision for income taxes of $180,050, which were partially offset by interest earned on securities held in the Trust Account amounting to $1,007,382.

Net Income (Loss) Per Common Stock: The basic and diluted net income (loss) per common stock for the nine months ended September 30, 2024, was $(0.04).

Net Income (Loss): For the nine months ended September 30, 2023, the company reported net income of $1,322,389. This income was driven by interest earned on securities held in the Trust Account of $2,328,876, offset by operating costs of $398,923, franchise tax expense of $150,000, and the provision for income taxes of $457,564.

Net Income (Loss) Per Common Stock: The basic and diluted net income (loss) per common stock for the nine months ended September 30, 2023, was $0.15.

Business Highlights

Business Overview: Aetherium Acquisition Corp is a blank check company formed to effect a business combination with one or more businesses, focusing on the education, training, and education technology industries, specifically in Asia (excluding China).

Operational Status: As of September 30, 2024, the company had not commenced any operations and was primarily engaged in activities related to its formation, the Initial Public Offering, and the search for a target company for a business combination.

Segment Information: The company operates as a single segment, with the Chief Executive Officer reviewing the operating results for the company as a whole to make decisions about resource allocation and financial performance assessment.

Future Outlook: The company is focused on completing a business combination within the prescribed period. However, there is substantial doubt about the company's ability to continue as a going concern if it fails to consummate a business combination within the specified timeframe.

Geographical Focus: The company intends to focus on business combination targets in the education and EdTech industries in Asia, excluding China, as part of its strategic direction.

Management's Discussion: The company is incurring significant costs in pursuit of its acquisition plans and is actively seeking a suitable business combination target. The management is aware of the challenges and uncertainties associated with completing a business combination within the required timeframe.

SEC Filing: Aetherium Acquisition Corp [ GMFI ] - 10-Q - Jul. 31, 2025