💰 Context
Western Acquisition Ventures Corp. is a special purpose acquisition company (SPAC). It raises money through an IPO to later merge with or acquire another company. Recently, it has faced challenges in completing its business combination and maintaining compliance with Nasdaq listing rules.
📋 TL;DR
- 📉 Financial Struggles: Net income of $408,380, but significant liabilities.
- 🔄 Business Combination: Working towards merging with Cycurion Inc.
- 📊 Stock Performance: Facing compliance issues with Nasdaq.
- 🌱 Environmental Focus: No major initiatives reported.
🚀 Trends
In 2024, Western Acquisition Ventures Corp. observed trends in the financial sector, particularly the growing interest in SPACs. However, the company faced challenges in maintaining compliance with Nasdaq listing rules and completing its business combination with Cycurion Inc. The financial market instability and rising interest rates also impacted its operations.
💰 Financial Performance
Western Acquisition Ventures Corp. reported a net income of $408,380 for the three months ended March 31, 2024. The company had significant liabilities, including accounts payable and accrued expenses totaling $1,218,171. The earnings per share (EPS) for common stock not subject to possible redemption was $0.12.
📈 Emerging Markets
The company is focusing on completing its business combination with Cycurion Inc., which could potentially open new opportunities in the cybersecurity market. However, no specific strategies for emerging markets were highlighted in the report.
🌿 Environmental Initiatives
The report did not highlight any major environmental initiatives or sustainability goals for Western Acquisition Ventures Corp. in 2024.
📱 Key Products
As a SPAC, Western Acquisition Ventures Corp. does not have traditional products. Its primary focus is on completing its business combination with Cycurion Inc.
📰 Major Announcements
Significant announcements included the extension of the date to complete the business combination with Cycurion Inc. to July 11, 2024, and the receipt of a notification letter from Nasdaq regarding non-compliance with listing rules.
📊 Market Share
As a SPAC, Western Acquisition Ventures Corp. does not have a traditional market share. Its success depends on the completion and performance of its business combination with Cycurion Inc.
🌟 Social Impact
The report did not highlight any specific social responsibility initiatives or impacts for Western Acquisition Ventures Corp. in 2024.
🔮 Future Outlook
Looking ahead, Western Acquisition Ventures Corp. aims to complete its business combination with Cycurion Inc. by October 11, 2024. The company is also working on regaining compliance with Nasdaq listing rules and addressing financial challenges.