CITIUS ONCOLOGY INC

Previous wording

References to the “Company,” “us,” “our” or “we” refer to TenX Keane Acquisition. The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our financial statements and related notes included herein.

Current wording

References to the “Company,” “us,” “our” or “we” referto Citius Oncology, Inc. (formerly known as TenX Keane Acquisition). The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our financial statements and related notes included herein.

Previous wording

We have not generated any revenues to date, and we will not be generating any operating revenues until the closing and completion of our initial business combination. Our entire activity up to March 31, 2024 has been related to our formation, the Initial Public Offering and, since the closing of the Initial Public Offering, and a search for a business combination target. We have, and expect to continue to generate, non-operating income in the form of interest income and unrealized gains on investments held in the trust account. We expect to continue to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses in connection with the search for a business combination target.

Current wording

We have not generated any revenues to date, and we will not be generating any operating revenues until the closing and completion of our initial business combination. Our entire activity up to June 30, 2024 has been related to our formation, the Initial Public Offering and, since the closing of the Initial Public Offering, and a search for a business combination target. We have, and expect to continue to generate, non-operating income in the form of interest income and unrealized gains on investments held in the trust account. We expect to continue to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for the expenses in connection with the business combination.

Previous wording

We have neither engaged in any operations nor generated any revenues to date. Our only activities since inception have been organizational activities and those necessary to prepare for the IPO. Following the IPO, we will not generate any operating revenues until after completion of our initial business combination. We will generate non-operating income in the form of interest income on cash and cash equivalents after the IPO. After the IPO, we expect to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as expenses as we conduct due diligence on prospective business combination candidates. We expect our expenses to increase substantially after the closing of the IPO.

Current wording

We have neither engaged in any operations nor generated any revenues to date. Our only activities since inception have been organizational activities and those necessary to prepare for the IPO. Following the IPO, we will not generate any operating revenues until after completion of our initial business combination. We will generate non-operating income in the form of interest income on cash and cash equivalents after the IPO. After the IPO, we expect to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for the expenses in connection with the business combination.

Previous wording

For the three months ended March 31, 2024, we had net income of $489,829, which primarily consisted of investment income on the trust assets of $758,258, partially offset by operating expenses of $268,429.

Current wording

For the three months ended June 30, 2024, we had net income of $252,462, which primarily consisted of investment income on the trust assets of $636,419, partially offset by operating expenses of $383,957.

Previous wording

For the three months ended March 31, 2023, we had net income of $611,725, which primarily consisted of investment income on the trust assets of $759,647, partially offset by operating expenses of $147,922.

Current wording

For the three months ended June 30, 2023, we had net income of $616,296, which primarily consisted of investment income on the trust assets of $815,850, partially offset by operating expenses of $199,554.

Previous wording

As of March 31, 2024 our cash was $33,330.

Current wording

As of June 30, 2024 our cash was $261.

Previous wording

As of March 31, 2024, we had available to us approximately $33,330 of proceeds held outside the trust account. We will use these funds to identify and 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.

Current wording

As of June 30, 2024, we had available to us approximately $261 of proceeds held outside the trust account. We will use these funds to identify and 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.

Previous wording

The change in cash for the period ended March 31, 2024 was an increase of $584 and was comprised of cash used in operating activities of $191,690, cash provided by investing activities of $24,738,789 and cash used in financing activities of $24,546,515.

Current wording

The change in cash for six months ended June 30, 2024 was an decrease of $32,485 and was comprised of cash used in operating activities of $557,796, cash provided by investing activities of $24,807,433 and cash used in financing activities of $24,282,122.

Previous wording

The change in cash for the period ended March 31, 2023 was a decrease of $168,799 and was comprised of cash used in operating activities of $168,799.

Current wording

The change in cash for the six months ended June 30, 2023 was an increase of $80,920 and was comprised of cash used in operating activities of $269,055 and cash provided by financing activities of $349,975.