Going concern
Filing comparison
FACT II Acquisition Corp. disclosed substantial doubt about its ability to continue as a going concern
No going-concern disclosure → Substantial doubt about ability to continue as a going concern
This is a blank-check company: the doubt is about completing a business combination within its permitted period, which every such company discloses. It describes the structure, not a trading business.
As discussed in Note 1 to the financial statements, if the Company is unable to raise additional funds to alleviate liquidity needs and complete a business combination by May 27, 2026, then the Company will cease all operations except for the purpose of liquidating. The date for mandatory liquidation and subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. Management’s plans regarding these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.…
Evidence
- Blank check
- Yes
- Caveat
- This is a blank-check company: the doubt is about completing a business combination within its permitted period, which every such company discloses. It describes the structure, not a trading business.
- Comparable
- Yes
- Current state
- substantial_doubt
- Current state label
- Substantial doubt about ability to continue as a going concern
- Direction
- escalated
- Located in
- going-concern note
- Prior filed
- 2025-03-27
- Prior form
- 10-K
- Prior state
- none
- Prior state label
- No going-concern disclosure
- Source
- ASC 205-40 going-concern note comparison
- Why
- Disclosure about the company's ability to continue as a going concern changed compared with its previous report.