IRRX: the balance sheet

MyFinsight

For the quarter ending 2025-09-30, IRRX has $677,485 in assets. $31,610,267 in debts.

Unit: Dollar

Balance Sheets	2025-09-30	2025-06-30
Cash	4,458	20,313
Total current assets	4,458	20,313
Investments held in trust account	673,027	666,143
Total assets	677,485	686,456

Accounts payable and accrued expenses	3,451,272	2,771,011
Accrued franchise tax	6,088	10,288
Redemptions payable	233,794	233,624
Accrued excise tax	3,145,785	3,077,899
Income taxes payable	289,815	287,454
Advances from related parties-Related Party	100,770	100,770
Note payablesponsor-Sponsor	5,393,225	5,393,225
Note payablerelated party-Related Party	2,054,710	1,829,710
Convertible promissory note, net of debt discount	1,490,459	1,471,784
Conversion event liability	688,414	702,878
Working capital loanrelated party-Related Party	17,935	17,935
Total current liabilities	16,872,267	15,896,578
Warrant liabilities	6,688,000	13,668,000
Deferred underwriting fee payable	8,050,000	8,050,000
Total liabilities	31,610,267	37,614,578
Class a common stock subject to possible redemption. 25,561 and 249,659 shares at redemption value of approximately 15.48 and 12.61 per share at september 30, 2025 and december 31, 2024, respectively	395,746	387,193
Common stock, value-Common Class A	575	575
Accumulated deficit	-31,329,103	-37,315,890
Total stockholders deficit	-31,328,528	-37,315,315
Total liabilities, class a common stock subject to possible redemption and stockholders deficit	677,485	686,456