CHAIN BRIDGE I | 10-Q: FY2026 Q1 Revenue: USD 0
I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q1, the actual value is USD 0.
EPS: As of FY2026 Q1, the actual value is USD -0.08.
EBIT: As of FY2026 Q1, the actual value is USD -176.45 K.
CHAIN BRIDGE I operates as a single segment, focusing on its core business of identifying and consummating a Business Combination.
Operational Metrics
- Net Loss: The company reported a net loss of - $437,000 for the three months ended March 31, 2026, compared to - $364,000 for the three months ended March 31, 2025.
- Loss from Operations: Loss from operations was - $252,039 for the three months ended March 31, 2026, an increase from - $221,850 for the same period in 2025.
- General and Administrative Expenses: General and administrative expenses increased to $222,039 for the three months ended March 31, 2026, from $191,850 in the prior year period, while related party general and administrative expenses remained constant at $30,000 for both periods.
- Change in Fair Value of Derivative Liabilities: The company incurred a loss from the change in fair value of derivative liabilities of - $103,630 for the three months ended March 31, 2026, which was less than the - $187,430 loss for the same period in 2025.
- Change in Fair Value of Contingently Issuable Private Placement Warrants: A loss of - $5,405 was recorded for the three months ended March 31, 2026, compared to a loss of - $9,775 in the prior year period.
- Interest Expense - Debt Issuance Cost: Interest expense related to debt issuance cost was - $82,331 for the three months ended March 31, 2026, with no comparable expense in 2025.
- Income from Investments held in Trust Account: Income decreased significantly to $6,746 for the three months ended March 31, 2026, from $55,415 for the three months ended March 31, 2025.
Cash Flow
- Net Cash Used in Operating Activities: Net cash used in operating activities increased to - $253,618 for the three months ended March 31, 2026, from - $72,033 for the same period in 2025.
- Cash at End of Period: Cash on hand at the end of the period was $136,637 as of March 31, 2026, compared to $17,565 as of March 31, 2025.
Liquidity and Outlook
As of March 31, 2026, CHAIN BRIDGE I reported a working capital deficit of - $1,060,576, with a deadline of November 15, 2026, to complete an initial Business Combination or face liquidation, raising substantial doubt about its ability to continue as a going concern. The company, despite a previous termination, plans to consummate a business combination with Phytanix Bio and list on Nasdaq Capital Markets upon completion. To ensure compliance, CHAIN BRIDGE I has switched Trust Account funds to cash to mitigate risks related to the Investment Company Act.
