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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | — | — | $1.8M | $2.5M |
| Gross profit | — | — | — | — |
| Net income | — | -$62.4K | $909.8K | $1.8M |
Recent filings and events
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event Item 8.01
- Other event Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Delisting notice Item 3.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 6770
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|---|---|---|---|---|
| DMII | Drugs Made In America Acquisition II Corp. | $649.1M | — | — |
| IACO | Idea Acquisition Corp. | $437.9M | — | — |
| KRAQ | KRAKacquisition Corp | $430.8M | — | — |
| TACO | Berto Acquisition Corp. | $393.2M | 36.1x | — |
| ALDF | Aldel Financial II Inc. | $328.0M | — | — |
| ATII | Archimedes Tech SPAC Partners II Co. | $290.3M | — | — |
| FGII | FG Imperii Acquisition Corp. | $290.3M | — | — |
| SOUL | Soulpower Acquisition Corp. | $269.3M | — | — |