Evolution Metals & Technologies Corp.
For the period ended Dec 31, 2024. Filed Mar 25, 2025.
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FY2024 · Filed Mar 25, 2025
EMAT$2.18+11.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash | $1,185 | $6,760 |
| Prepaid expenses and other assets | 14,077 | 833 |
| Total current assets | 15,262 | 7,593 |
| Restricted cash | — | 161,449 |
| Cash and investment held in Trust Account | 12,257,933 | 23,769,229 |
| TOTAL ASSETS | $12,273,195 | $23,938,271 |
| LIABILITIES, REDEEMABLE COMMON STOCK, AND STOCKHOLDERS’ DEFICIT | ||
| Current liabilities | ||
| Accounts payable and accrued expenses | $2,929,443 | $2,846,126 |
| Due to affiliates | 413,663 | 293,663 |
| Franchise tax payable | — | 80,000 |
| Income taxes payable | 125,950 | — |
| Excise tax payable and interest and penalties | 719,090 | 583,520 |
| Convertible promissory notes – related party | 2,296,371 | 2,296,371 |
| Working capital loans – related party | 1,740,966 | 549,100 |
| Total current liabilities | 8,225,483 | 6,648,780 |
| Deferred underwriting fee payable | 2,704,690 | 2,704,690 |
| TOTAL LIABILITIES | 10,930,173 | 9,353,470 |
| COMMITMENTS AND CONTINGENCIES (NOTE 6) | ||
| REDEEMABLE COMMON STOCK | ||
| Common Stock subject to possible redemption, $0.0001 par value, 1,082,789 shares at redemption value of $11.22 per share at December 31, 2024 and 2,172,851 shares at redemption value of $10.98 at December 31, 2023, respectively | 12,145,287 | 23,850,678 |
| STOCKHOLDERS’ DEFICIT | ||
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding at December 31, 2024 and 2023 | — | — |
| Common stock; $0.0001 par value; 100,000,000 shares authorized; 2,283,976 shares issued and outstanding at December 31, 2024 and 2023, respectively (excluding 1,082,789 shares at December 31, 2024 and 2,172,851 shares at December 31, 2023 subject to redemption) | 228 | 228 |
| Additional Paid in Capital | — | — |
| Accumulated deficit | (10,802,493) | (9,266,105) |
| TOTAL STOCKHOLDERS’ DEFICIT | (10,802,265) | (9,265,877) |
| TOTAL LIABILITIES, REDEEMABLE COMMON STOCK, AND STOCKHOLDERS’ DEFICIT | $12,273,195 | $23,938,271 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.