Flag Ship Acquisition Corp
For the period ended Jun 30, 2026. Filed Aug 14, 2026.
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Jun 30, 2026 · Filed Aug 14, 2026
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**UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2026
or
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to __________
Commission file number:001-42138
Flag Ship Acquisition Corporation
(Exact name of registrant as specified in its charter)
| Cayman Islands | N/A00-0000000 |
|---|---|
| (State or other jurisdiction ofincorporation or organization) | (I.R.S. EmployerIdentification No.) |
**26 Broadway, Suite 934
New York, New York 10004
(Address of principal executive offices)
(646) 362-0256
(Registrant’s telephone number, including area code)
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Units, each consisting of one Ordinary Share, $0.001 par value, and one right | FSHPU | The Nasdaq Stock Market LLC |
| Ordinary Share, $0.001 par value | FSHP | The Nasdaq Stock Market LLC |
| Rights to receive one-tenth (1/10th) of one Ordinary Share | FSHPR | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|---|---|---|
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| Emerging growth company | ☒ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☒ No ☐
As of August 14, 2026, the registrant had 3,518,260 ordinary shares, $0.001 par value per share, issued and outstanding.
FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2026
TABLE OF CONTENTS
| Page | |
|---|---|
| Part I. Financial Information | 1 |
| Item 1. Financial Statements (Unaudited) | 1 |
| Condensed Balance Sheets | 1 |
| Unaudited Condensed Statements of Operations | 2 |
| Condensed Statements of Changes in Shareholders’ Deficit | 3 |
| Unaudited Condensed Statements of Cash Flows | 4 |
| Notes To Unaudited Condensed Financial Statements | 5 |
| Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 21 |
| Item 3. Quantitative and Qualitative Disclosures Regarding Market Risk | 28 |
| Item 4. Controls and Procedures | 28 |
| Part II. Other Information | 29 |
| Item 1. Legal Proceedings | 29 |
| Item 1A. Risk Factors | 29 |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds | 29 |
| Item 3. Defaults Upon Senior Securities | 29 |
| Item 4. Mine Safety Disclosures | 29 |
| Item 5. Other Information | 29 |
| Item 6. Exhibits | 30 |
| Part III. Signatures | 31 |
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