IB Acquisition Q2 net loss widens to $567,166; Q2 interest and dividends fall to $72,485
Reuters2026/08/14 14:21- IB Acquisition posted a net loss of $567,166 for the quarter ended June 30, 2026, swinging from net income of $818,610 a year earlier.
- General and administrative expenses climbed to $624,429 from $172,210, while interest and dividends in the Trust Account fell to $72,485 from $1.25 million.
- Net loss for the nine months ended June 30, 2026 widened to $1.27 million, reversing net income of $2.55 million a year earlier.
- Cash used in operating activities increased to $1.79 million from $1.26 million; cash and investments in the Trust Account totaled $8.26 million.
- Business-combination talks advanced with a March 16, 2026 agreement to merge with Canada’s GNQ Insilico, alongside up to US$2 million in bridge financing.
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