M&A - Aspen-1 Acquisition Inc.

Form Type: 10-Q

Filing Date: 2025-07-17

Corporate Action: Merger

Type: Update

Accession Number: 000121390025065189

Filing Summary: Aspen-1 Acquisition Inc. submitted this Form 10-Q for the quarterly period ending June 30, 2025. The report includes detailed financial statements indicating no revenue was generated, an accumulated deficit of $175,224, and total liabilities of $183,925. The company's operational focus remains on identifying suitable business combinations, emphasizing long-term growth rather than immediate profits. A significant highlight is the proposed merger with Deep Isolation, Inc., a Delaware-based firm developing technology for the disposal of spent nuclear fuel. This merger would convert Deep Isolation's equity into Aspen-1's common stock, leading to a change of control in the company. Although forward-looking statements are present in the report, they caution against undue reliance on optimistic projections due to inherent risks. The report stresses the ongoing struggle with being a shell company and potential operational financing through additional borrowings, as compliance with periodic SEC reporting is planned. Details regarding a private placement to facilitate the merger and the anticipated changes in management structure are also disclosed, along with notes on financial performance and compliance with accounting standards.