Here are the 10-Q quarterly reports from Metal Sky Star Acq Corp (MSSAF) 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 MSSAF 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 MSSAF filings page.
Metal Sky Star Acquisition Corporation filed its quarterly report for the period ended March 31, 2026, showing it remains a pre‑revenue SPAC focused on completing a business combination.
Total assets were $1.07 million, almost entirely the $1.04 million held in the trust account, while current liabilities reached $5.49 million, producing a working capital deficit of $5.47 million and an accumulated deficit of $8.34 million.
The company reported a net loss of $113,689 for the quarter, driven by formation and operating costs of $122,625, partially offset by $8,936 of interest and unrealized gains on trust investments. Only 60,523 public shares remain redeemable, highlighting extensive prior redemptions.
After failing to complete a deal within Nasdaq’s SPAC timeline, the securities were delisted and now trade on the OTC market. The company has extended its deadline to complete a business combination to January 5, 2027 and has signed non‑binding letters of intent with Okidoki OÜ and Fedilco Group Limited, though no definitive agreements are in place.
With no cash outside the trust and $4.92 million owed to its sponsor through promissory notes and payables, management discloses substantial doubt about its ability to continue as a going concern if a transaction is not completed within the allowed period.
Metal Sky Star Acquisition Corporation filed its quarterly report for the period ended September 30, 2025. The company reported a net loss of $92,708 for Q3 and a net loss of $443,906 for the nine-month period. As of September 30, 2025, the Trust Account held $920,985, down from $6,677,519 at year-end, reflecting significant redemptions.
The balance sheet shows a working capital deficit of $5,124,150, promissory notes to the Sponsor of $3,122,403, amounts due to related parties of $1,536,658, and deferred underwriting commissions of $2,875,000. Management disclosed that these conditions raise substantial doubt about the company’s ability to continue as a going concern.
The company’s securities were delisted from Nasdaq and now trade on OTC Markets (Units: MSSUF; Ordinary Shares: MSSAF; Warrants: MSSWF; Rights: MSSRF). Share redemptions reduced the public float, with 60,523 redeemable shares outstanding as of September 30, 2025 at a redemption value of $15.63 per share. The deadline to complete a business combination has been extended to January 5, 2026, with subsequent $25,000 monthly extension deposits, including $50,000 funded in October and November 2025.