IX Acquisition Corp. 10-Q

Financial Statements (unaudited)

Item 1. Financial Statements. IX ACQUISITION CORP. CONDENSED CONSOLIDATED BALANCE SHEETS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ ​ December 31, ​ ​ 2026 ​ 2025 ​ ​ (Unaudited) ​ ​ Assets ​ ​ ​ ​ ​ ​ Current assets: ​ ​ ​ ​ ​ ​ Cash ​ $ 104,349 ​ $ 178,975 Prepaid expenses ​ ​ 20,000 ​ ​ 25,750 Accounts receivable, net of allowance of $ 4,032,958 and $ 3,125,542 as of June 30, 2026 and December 31, 2025, respectively ​ ​ — ​ ​ — Due from AERKOMM ​ ​ 425,000 ​ ​ 160,000 Due from related party ​ 15,086 ​ 14,750 Total current assets ​ ​ 564,435 ​ ​ 379,475 Non-current assets: ​ ​ ​ ​ Cash held in the Trust Account ​ ​ 9,066,245 ​ ​ 8,781,221 Total Assets ​ $ 9,630,680 ​ $ 9,160,696 ​ ​ ​ ​ ​ ​ ​ Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders’ Deficit: ​ ​ ​ ​ Current liabilities: ​ ​ ​ ​ ​ ​ Accounts payable ​ $ 433,668 ​ $ 412,917 Accrued expenses ​ ​ 2,813,816 ​ ​ 2,671,740 Promissory note-related party ​ ​ 3,805,175 ​ ​ 3,955,175 Total current liabilities ​ 7,052,659 ​ 7,039,832 Non-current liabilities: ​ ​ ​ ​ ​ ​ Derivative warrant liabilities ​ ​ 373,000 ​ ​ 2,797,500 Deferred underwriting fee payable ​ ​ 6,050,000 ​ ​ 6,050,000 Total non-current liabilities ​ 6,423,000 ​ 8,847,500 Total Liabilities ​ 13,475,659 ​ 15,887,332 ​ ​ ​ ​ ​ Commitments and Contingencies (Note 6) ​ ​ ​ ​ Class A ordinary shares subject to possible redemption, $ 0.0001 par value, at approximately $ 12.93 and $ 12.53 per share, respectively; 701,043 shares issued and outstanding as of June 30, 2026 and December 31, 2025 ​ ​ 9,066,245 ​ ​ 8,781,221 ​ ​ ​ ​ ​ Shareholders’ Deficit: ​ ​ ​ ​ Preference shares, $ 0.0001 par value; 1,000,000 shares authorized; none issued and outstanding as of June 30, 2026 and December 31, 2025 ​ — ​ — Class A ordinary shares, $ 0.0001 par value; 200,000,000 shares authorized; 4,002,121 non-redeemable shares issued or outstanding as of June 30, 2026 and December 31, 2025 ​ 401 ​ 401 Class B ordinary shares, $ 0.0001 par value; 20,000,000 shares authorized; 1,747,879 shares issued and outstanding as of June 30, 2026 and December 31, 2025 ​ 174 ​ 174 Additional paid-in capital ​ — ​ — Accumulated deficit ​ ( 12,911,799 ) ​ ( 15,508,432 ) Total shareholders’ deficit ​ ( 12,911,224 ) ​ ( 15,507,857 ) Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders’ Deficit ​ $ 9,630,680 ​ $ 9,160,69