Based on the provided financial report articles, the title of the article is likely to be: "Quarterly Report (Q2) for the period ended June 30, 2026, of PECE, Inc." Please note that the title may vary depending on the specific content and context of the article.
Based on the provided financial report articles, the title of the article is likely to be: "Quarterly Report (Q2) for the period ended June 30, 2026, of PECE, Inc." Please note that the title may vary depending on the specific content and context of the article.
The report presents the financial statements of PECE for the quarter ended June 30, 2026. The company reported a net loss of $[amount] and a total stockholders’ deficit of $[amount]. The company’s cash and cash equivalents decreased by $[amount] to $[amount] during the quarter. The company’s common stock and additional paid-in capital increased by $[amount] and $[amount], respectively, due to the issuance of shares in connection with the company’s initial public offering (IPO) and private placement. The company’s retained earnings decreased by $[amount] due to the net loss. The company’s total assets decreased by $[amount] to $[amount] during the quarter, primarily due to the decrease in cash and cash equivalents. The company’s total liabilities increased by $[amount] to $[amount] during the quarter, primarily due to the increase in accounts payable and accrued expenses.
Overview
We are a blank check company incorporated as a Cayman Islands exempted company with the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While our search for a target business will not be limited to a particular geographic region, we intend to focus on businesses throughout Asia, excluding China.
We have not yet selected a specific business combination target, and we have not initiated any substantive discussions with any potential target. We plan to use the cash from the proceeds of our initial public offering (IPO) and private placements, as well as debt and equity financing, to complete our initial business combination.
Results of Operations
We have not engaged in any operations or generated any revenues to date. Our activities since inception have been focused on organizational tasks and preparing for the IPO. After the IPO, we expect to incur increased expenses as a public company, as well as expenses related to due diligence on potential business combination candidates.
For the three months ended June 30, 2026, we incurred $118,157 in formation and operating costs, generated $204,863 in interest income, and reported a net income of $86,706. For the six months ended June 30, 2026, we incurred $174,553 in formation and operating costs, generated $204,872 in interest income, and reported a net income of $30,319.
Liquidity and Capital Resources
On May 26, 2026, we completed our IPO of 6,000,000 units at $10.00 per unit, as well as a private placement of 262,500 units at $10.00 per unit. We placed $60,300,000 from the net proceeds in a trust account, which we intend to use to complete our initial business combination.
Prior to the completion of our initial business combination, we have approximately $400,000 of proceeds held outside the trust account, which we will use for identifying and evaluating target businesses, due diligence, and other expenses related to the business combination process.
We do not believe we will need to raise additional funds to meet the expenditures required for operating our business. However, if the actual costs are higher than expected, we may need to obtain additional financing to complete our initial business combination.
Related Party Transactions
Please refer to Note 5 - Related Party Transactions in the financial statements for details on our related party transactions.
Deferred Offering Costs
We have complied with the requirements of ASC 340-10-S99-1 relating to deferred offering costs, which consist of legal, accounting, advisory, administrative, and other costs directly related to our IPO.
Other Contractual Obligations
Registration Rights The holders of our founder shares, EBC founder shares, and private placement units will be entitled to registration rights, allowing them to register their securities for resale, subject to certain limitations.
Business Combination Marketing Agreement We have engaged EBC as an advisor to assist us with our initial business combination, for which we will pay a service fee equal to 3.5% of the gross proceeds of the IPO and an additional 1.0% of the total consideration payable in the initial business combination if EBC introduces us to the target.
Accounting Service Agreement We have engaged Ascendant Global Advisors Inc., an affiliate of Casper Holding LP, to assist in preparing our quarterly and annual financial statements, for which we will pay a fixed quarterly rate of $5,250.
Administration Fee Casper Holding LP is allowed to charge us an allocable share of its overhead, up to $10,000 per month, to compensate for our use of its office, utilities, and personnel.
Critical Accounting Policies and Estimates
We have not identified any critical accounting policies or estimates, and all significant accounting policies are described in Note 2 of the financial statements.
Recent Accounting Standards
Management does not believe that any recently issued, but not yet effective, accounting standards would have a material effect on our financial statements if currently adopted.