Pono Capital Two Inc
For the period ended Mar 31, 2024. Filed May 20, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 20, 2024
SBC$5.04+0.4%Stored close · as of Nov 6, 2026
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Item 1. Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023
CONDENSED CONSOLIDATED BALANCE SHEETS
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| (Unaudited) | ||
| Assets: | ||
| Current assets: | ||
| Cash | $1,659,751 | $284,394 |
| Prepaid expenses | 109,652 | 110,149 |
| Total Current Assets | 1,769,403 | 394,543 |
| Marketable securities held in Trust Account | 17,980,652 | 20,850,793 |
| Total Assets | $19,750,055 | $21,245,336 |
| Liabilities and Stockholders’ Equity (Deficit): | ||
| Current liabilities: | ||
| Accounts payable | $59,950 | $43,910 |
| Accrued expenses | 510,433 | 480,050 |
| Promissory Note | 2,700,000 | 1,000,000 |
| Franchise tax payable | 43,272 | 72,978 |
| Income tax payable | 56,532 | 11,317 |
| Excise tax payable | 1,030,436 | 1,000,789 |
| Total Current Liabilities | 4,400,623 | 2,609,044 |
| Deferred underwriting fee payable | 4,025,000 | 4,025,000 |
| Total Liabilities | 8,425,623 | 6,634,044 |
| Commitments and Contingencies (Note 6) | - | - |
| Class A common stock subject to possible redemption, 213,605 and 1,922,750 shares at redemption value of $10.80 and $10.72 per share as of March 31, 2024 and December 31, 2023, respectively | $2,306,659 | $20,606,204 |
| Stockholders’ Equity (Deficit): | ||
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized; no shares issued and outstanding | — | — |
| Class A common stock, $0.0001 par value; 100,000,000 shares authorized; 5,002,685 shares issued and outstanding (excluding 213,605 and 1,922,750 shares subject to possible redemption as of March 31, 2024 and December 31, 2023, respectively) | 501 | 357 |
| Class B common stock, $0.0001 par value; 10,000,000 shares authorized; 1 share issued and outstanding at March 31, 2024 and December 31, 2023 | — | — |
| Additional paid-in capital | 15,305,087 | — |
| Accumulated deficit | (6,287,815) | (5,995,269) |
| Total Stockholders’ Equity (Deficit) | 9,017,773 | (5,994,912) |
| Total Liabilities and Stockholders’ Equity (Deficit) | $19,750,055 | $21,245,336 |
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