IRRXW: the balance sheet

MyFinsight

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

Balance Sheets	2025-09-30
Cash	4,458
Total current assets	4,458
Investments held in trust account	673,027
Total assets	677,485

Accounts payable and accrued expenses	3,451,272
Accrued franchise tax	6,088
Redemptions payable	233,794
Accrued excise tax	3,145,785
Income taxes payable	289,815
Advances from related parties-Related Party	100,770
Note payablesponsor-Sponsor	5,393,225
Note payablerelated party-Related Party	2,054,710
Convertible promissory note, net of debt discount	1,490,459
Conversion event liability	688,414
Working capital loanrelated party-Related Party	17,935
Total current liabilities	16,872,267
Warrant liabilities	6,688,000
Deferred underwriting fee payable	8,050,000
Total liabilities	31,610,267
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
Common stock, value-Common Class A	575
Accumulated deficit	-31,329,103
Total stockholders deficit	-31,328,528
Total liabilities, class a common stock subject to possible redemption and stockholders deficit	677,485

Unit: Dollar. Numbers labeled with * are estimated quarterly values.