Every 10-Q that FLAG SHIP ACQUISITION CORP (FSHPU) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow FSHPU and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FSHPU filings page.
Flag Ship Acquisition Corporation, a Cayman Islands SPAC, reported net income of $184,954 for the quarter and $314,782 for the six months ended June 30, 2026, driven entirely by $585,461 of interest and dividends on $34,017,341 held in its Trust Account. Operating expenses were modest at $270,679 for the six months.
After substantial shareholder redemptions of $40.4M in August 2025 and $16.7M in June 2026, only 1,555,260 public ordinary shares remain subject to possible redemption. Cash outside the Trust Account was $1,300 with a working capital deficit of $2,061,322 and related-party promissory notes totaling $2,053,701, including $591,842 of extension loans. The SPAC has extended its combination deadline to June 20, 2027 and is in a 90-day exclusive negotiation period under a Letter of Intent with Bluechip & Co. Holdings, but no definitive agreement has been signed. Management discloses substantial doubt about the company’s ability to continue as a going concern if a business combination is not completed within the allowed period.
Flag Ship Acquisition Corporation reported net income of $159,828 for the quarter ended March 31, 2026, driven by $290,462 of interest and dividends on its Trust Account, partly offset by $130,634 of formation, general and administrative expenses.
Cash outside the Trust Account was only $1,811 with a working capital deficit of $1,629,435, while $33,430,500 remained invested in the Trust Account. A related-party promissory note balance reached $1,540,219, including $300,000 of extension loans used to fund monthly extensions.
The company has 5,025,517 ordinary shares outstanding as of June 5, 2026 after prior redemptions of 3,837,483 shares for about $40.45M. Management discloses that the June 20, 2026 business combination deadline and reliance on an extension vote through June 20, 2027 raise substantial doubt about its ability to continue as a going concern.
After terminating a prior merger with Great Future Technology Inc., Flag Ship signed a 90-day exclusive Letter of Intent with Bluechip & Co. Holdings for a potential business combination, which remains subject to due diligence, definitive agreements, approvals and customary closing conditions.