Technology & Telecommunication Acquisition Corporation

Technology & Telecommunication Acquisition Corporation (TETE) reported a net loss of $731K for fiscal year 2025, driven by formation and operating costs of $1.1M, which resulted in a loss from operations of $1.1M. This was partially offset by interest earned on cash and investments held in the trust account of $400K. The company's balance sheet shows total assets of $170K, consisting primarily of cash and investments held in the Trust Account ($142K) and prepaid expenses ($28K). Total liabilities stand at $10.5M, including accounts payable and accrued liabilities of $2.3M, extension loan of $2.8M, working capital loan of $1.4M, and deferred underwriter commission of $4.0M, resulting in total shareholders' deficit of $10.5M. Cash flow from operations was negative $342K, while investing activities provided $31.9M primarily from cash withdrawn from trust in connection to redemption of $32.0M, and financing activities used $31.6M mainly for redemption of common stock of $32.0M. The company's financial position reflects its status as a special purpose acquisition corporation with significant liabilities and deficit.

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