Flag Ship Acquisition Corp FSHP
Flag Ship Acquisition Corporation is a blank check company incorporated on May 14, 2018 as a Cayman Islands exempted company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
The registration statement for our initial public offering was declared effective by the Securities and Exchange Commission on June 17, 2024. We completed our initial public offering on June 20, 2024. In our initial public offering, we sold units at an offering price of $10.00 and consisting of one ordinary share, one right to receive one-tenth (1/10) of an ordinary share upon the consummation of an initial business combination.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $2.5M | $1.8M | — | — |
| SG&A | $659.1K | $889.3K | $62.4K | — |
| Pre-tax income | $1.8M | $909.8K | -$62.4K | — |
| Net income | $1.8M | $909.8K | -$62.4K | — |
| EPS, basic | 0.24 | 0.17 | — | — |
| EPS, diluted | 0.24 | 0.17 | — | — |
| Shares, diluted (wtd. avg.) | $2.0M | $1.9M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $6.6K | $76.7K | $116.2K | $182.4K |
| Total current assets | $25.1K | $172.5K | $120.5K | — |
| Total assets | $33.1M | $71.0M | $150.5K | — |
| Total current liabilities | $1.5M | $712.2K | $433.6K | — |
| Total liabilities | $3.2M | $2.4M | $433.6K | — |
| Retained earnings | -$3.2M | -$2.3M | -$308.0K | — |
| Total equity | -$3.2M | -$2.3M | -$283.0K | -$220.6K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | -$479.1K | -$876.3K | -$66.8K | — |
| Investing cash flow | $40.2M | -$69.0M | — | — |
| Financing cash flow | -$39.8M | $69.8M | $580 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001829126-26-005818.
Others in SIC 6770
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|---|---|---|---|---|
| DMII | Drugs Made In America Acquisition II Corp. | $647.8M | — | — |
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| KRAQ | KRAKacquisition Corp | $431.6M | — | — |
| TACO | Berto Acquisition Corp. | $393.6M | 36.2x | — |
| ALDF | Aldel Financial II Inc. | $322.7M | — | — |
| ATII | Archimedes Tech SPAC Partners II Co. | $315.1M | — | — |
| FGII | FG Imperii Acquisition Corp. | $289.7M | — | — |
| SOUL | Soulpower Acquisition Corp. | $268.0M | — | — |