Here are the 10-Q quarterly reports from Integrated Rail & Res A (IRRX) in our archive since June 2025, 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 IRRX 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 IRRX filings page.
Integrated Rail and Resources Acquisition Corp. (IRRX) filed its Q3 2025 report, showing net income of $5,995,512 for the quarter, largely from a $6,980,000 non‑cash gain on the change in fair value of warrant liabilities. Operating expenses were $917,076.
Total assets fell to $677,485 as trust investments declined to $673,027 following multiple shareholder redemptions. Cash was $4,458. Shares subject to possible redemption were 25,561 at a redemption value of approximately $15.48 per share. As of November 7, 2025, 5,775,561 Class A shares were issued and outstanding.
The company reported a working capital deficit of $16,867,809 and recorded excise tax payable of $3,145,785. Management disclosed substantial doubt about its ability to continue as a going concern, given limited liquidity and the need to complete a business combination within the stated period.
IRRX remains quoted on OTC Pink following a March 2024 NYSE delisting. The proposed merger with Tar Sands Holdings II, via Uinta Infrastructure Group entities, has been extended with a termination date now set to December 1, 2025, and includes conditions such as Form S‑4 effectiveness and at least $44,000,000 in Available Closing Date Cash. IRRX also entered an exclusive supply and offtake agreement with Shell Trading (US) Company for a Utah facility.