Quetta Acquisition Corp

Previous wording

Pursuant to Article Sixth D of the Amended and Restated Certificate of Incorporation, the Company is entitled to an automatic six-month extension of the then-current deadline to complete a business combination after the execution of a letter of intent (“LOI”) or definitive agreement to complete a business combination. On May 30, 2024, the Company entered into a non-binding LOI with a business combination target (the “Target”), regarding a potential business combination involving the Target and its subsidiaries (the “Proposed Transaction”). The Target is a clinical-stage therapeutics company.

Current wording

Pursuant to Article Sixth D of the Amended and Restated Certificate of Incorporation, the Company was entitled to an automatic six-month extension of the then-current deadline to complete a business combination after the execution of a letter of intent (“LOI”) or definitive agreement to complete a business combination. On May 30, 2024, the Company entered into a non-binding LOI with a business combination target (the “Target”), regarding a potential business combination involving the Target and its subsidiaries (the “Proposed Transaction”). The Target is a clinical-stage therapeutics company.

Previous wording

The LOI is non-binding and no agreement providing for any Proposed Transaction or any other transaction or the participation by either party therein will be deemed to exist unless and until definitive agreements have been executed.

Current wording

The LOI was non-binding and no agreement providing for any Proposed Transaction or any other transaction or the participation by either party therein will be deemed to exist unless and until definitive agreements have been executed.

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

For the period from May 1, 2023 (inception) through June 30, 2023, we had a net income of $737, all of which consisted of interest income.

Current wording

For the period from May 1, 2023 (inception) through September 30, 2023, we had a net income of $3,686, all of which consisted of interest income.

Previous wording

As of June 30, 2024, the Company had cash of $334,332 and a working capital deficit (current assets less current liabilities) of $207,095.

Current wording

As of September 30, 2024, the Company had cash of $329,359 and a working capital deficit (current assets less current liabilities) of $543,906.

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. For the three and six months ended June 30, 2024, the Company has incurred $30,000 and $60,000, respectively, in related party fees for the services provided by the Sponsor under this agreement.

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. For the three and nine months ended September 30, 2024, the Company has incurred $30,000 and $90,000, respectively, in related party fees for the services provided by the Sponsor under this agreement.