BM3EAC (BACE) H1 2024 earnings summary

Executive summary

• BM3EAC Corp. is a repurposed shell company listed on Euronext Amsterdam, seeking a business combination after redeeming all public shares and warrants in June 2023.

• As of 30 June 2024, only sponsor shares remain outstanding, held by the Sponsor Entity and certain directors.

• A preliminary term sheet for a potential business combination was signed in February 2024, subject to due diligence, board approvals, and a capital raise.

Financial highlights

• Bank account balance at 30 June 2024: $199,496; shareholders' deficit: ($475,686).

• Interest income for the period: $2,804; total comprehensive loss: ($332,444) for the six months ended 30 June 2024.

• Operating expenses for the period: $316,991; interest expense on promissory note: $18,257.

• No dividends declared or paid during the period.

Outlook and guidance

• The company intends to continue as an acquisition vehicle for a temporary period, leveraging its public listing to facilitate a business combination.

• Sponsor Entity has committed additional working capital to support operations for at least the next 12 months.