Quetta Acquisition Corp
For the period ended Sep 30, 2025. Filed Nov 14, 2025.
View on SEC.govAbout this filing
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.
Sep 30, 2025 · Filed Nov 14, 2025
QETA$11.30-2.6%Stored close · as of Oct 13, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-08-19.
0001493152-25-012161
Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-11-14.
0001493152-25-022647
Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 57 previous paragraphs and 56 current paragraphs.
48 unchanged; 7 reworded; 1 added; 2 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (1)
Current report
In connection with the stockholders’ vote at the January Special Meeting, an aggregate of 5,199,297 shares with redemption value of approximately $55,152,224 (approximately $10.61 per share) were tendered for redemption. The Company subsequently deposited $60,000 each time from January 2025 to November 2025 into the Trust Account to extend the date by which the Company can complete an initial business combination to December 10, 2025.
Removed paragraphs (2)
Previous report
Board change
Previous report
On April 29, 2025, the Company reported the death of Brandon Miller, a member of the Company’s board of directors (the “Board”) and the Chairperson of the Audit Committee. On the same day, the Board appointed Qi Gong, a current member of the Board, to serve as Chairperson of the Audit Committee. The Board also appointed Ping Zhang as a member of the Board, including committee positions on the Audit Committee, the Compensation Committee, and the Nominating Committee, to fill the vacancy created by Mr. Miller’s death.
Reworded paragraphs (7)
Previous wording
For the three months ended June 30, 2025, we had net loss of $607,950, which consisted of general and administrative expenses of $723,999, related party administrative fees of $30,000, franchise tax expense of $10,200 and income tax expense of $37,507, partially offset by interest income of $193,756.
Current wording
For the three months ended September 30, 2025, we had net loss of $34,853, which consisted of general and administrative expenses of $144,254 , related party administrative fees of $30,000, franchise tax expense of $19,880 and income tax expense of $37,056, partially offset by interest income of $196,337.
Previous wording
For the six months ended June 30, 2025, we had net loss of $801,621, which consisted of general and administrative expenses of $1,101,101, related party administrative fees of $60,000, franchise tax expense of $20,200 and income tax expense of $94,242, offset by interest income of $473,922.
Current wording
For the nine months ended September 30, 2025, we had net loss of $836,474, which consisted of general and administrative expenses of $1,245,355 , related party administrative fees of $90,000, franchise tax expense of $40,080 and income tax expense of $ 131,298, partially offset by interest income of $670,259.
Previous wording
For the three months ended June 30, 2024, we had net income of $544,417, which consisted of formation and operational costs of $150,225, related party administrative fees of $30,000, franchise tax expense of $17,477 and income tax expense of $192,626, offset by interest income of $934,745.
Current wording
For the three months ended September 30, 2024, we had net income of $603,904, which consisted of formation and operational costs of $99,012, related party administrative fees of $30,000, franchise tax expense of $16,500 and income tax expense of $194,826, offset by interest income of $944,242.
Previous wording
For the six months ended June 30, 2024, we had net income of $1,156,121, which consisted of formation and operational costs of $227,254, related party administrative fees of $60,000, franchise tax expense of $33,677 and income tax expense of $383,682, offset by interest income of $1,860,734.
Current wording
For the nine months ended September 30, 2024, we had net income of $1,760,025, which consisted of formation and operational costs of $326,266, related party administrative fees of $90,000, franchise tax expense of $50,177 and income tax expense of $578,508, offset by interest income of $2,804,976.
Previous wording
As of June 30, 2025, the Company had cash of $225,929 and a working capital deficit of $2,134,700.
Current wording
As of September 30, 2025, the Company had cash of $9,068 and a working capital deficit of $2,386,646.
Previous wording
We have entered into an administrative services agreement pursuant to which we will pay the Sponsor a total of $10,000 per month for office space, utilities, secretarial and administrative support. However, pursuant to the terms of such agreement, the Sponsor agreed to defer the payment of such monthly fee. Any such unpaid amount will accrue without interest and be due and payable no later than the date of the consummation of the initial Business Combination. The Company accrued $20,000 and $30,000 administrative fees due to the Sponsor on the accompanying balance sheets as of June 30, 2025 and December 31, 2024, respectively.
Current wording
We have entered into an administrative services agreement pursuant to which we will pay the Sponsor a total of $10,000 per month for office space, utilities, secretarial and administrative support. However, pursuant to the terms of such agreement, the Sponsor agreed to defer the payment of such monthly fee. Any such unpaid amount will accrue without interest and be due and payable no later than the date of the consummation of the initial Business Combination. The Company accrued $30,000 and $30,000 administrative fees due to the Sponsor on the accompanying balance sheets as of September 30, 2025 and December 31, 2024, respectively.
Previous wording
On or before February 14, 2025, KM QUAD wired the first installment of the prepaid extension fees, in the amount of $250,000, to the Company’s designated bank account in exchange for a promissory note issued by the Company. KM QUAD shall wire the second installment of the prepaid extension fees, in the amount of $290,000, to the Company’s designated bank account on or before April 20, 2025 in exchange for a promissory note issued by the Company, provided that the Agreement has not been terminated prior to that date. If the closing of the KM QUAD Business Combination does not occur prior to October 10, 2025 due to a delay in obtaining CSRC approvals, KM QUAD shall be responsible for any extension fees and other related fees incurred by the Company beyond October 10, 2025 not to exceed $100,000 per month. If the closing of the KM QUAD Business Combination or termination of the Agreement occurs prior to October 10, 2025, the Company shall return the remaining balance of the prepaid extension fees, if any, to KM QUAD on a pro rata basis. Alternatively, at the closing of the KM QUAD Business Combination, the Company shall have the right to convert any prepaid extension fees that were paid and not returned into Purchaser Class A Ordinary Shares at $10.00 per share.
Current wording
On or before February 14, 2025, KM QUAD wired the first installment of the prepaid extension fees, in the amount of $250,000, to the Company’s designated bank account in exchange for a promissory note issued by the Company. KM QUAD subsequently wired the second installment of the prepaid extension fees, in the amount of $290,000, to the Company’s designated bank account on or before April 20, 2025 in exchange for a promissory note issued by the Company. If the closing of the KM QUAD Business Combination does not occur prior to October 10, 2025 due to a delay in obtaining CSRC approvals, KM QUAD shall be responsible for any extension fees and other related fees incurred by the Company beyond October 10, 2025 not to exceed $100,000 per month. If the closing of the KM QUAD Business Combination or termination of the Agreement occurs prior to October 10, 2025, the Company shall return the remaining balance of the prepaid extension fees, if any, to KM QUAD on a pro rata basis. Alternatively, at the closing of the KM QUAD Business Combination, the Company shall have the right to convert any prepaid extension fees that were paid and not returned into Purchaser Class A Ordinary Shares at $10.00 per share.