Goal Acquisitions Corp., a company focused on business combinations within the sports industry, has released its Form 10-Q report for the third quarter of 2023. The report provides insights into the company's financial performance and ongoing business activities, including its efforts towards a significant business combination with Digital Virgo Group.
Financial Highlights
- Net Income: $17,576 for the three months ended September 30, 2023, compared to $748,310 for the same period in 2022.
- Net Income (Loss) Per Share, Common Stock Subject to Possible Redemption: $0.00 for the three months ended September 30, 2023.
- Net Income (Loss) Per Share, Non-Redeemable Common Stock: $0.00 for the three months ended September 30, 2023.
- Net Income (Loss) Per Share, Common Stock Subject to Possible Redemption: $(0.03) for the nine months ended September 30, 2023.
- Net Income (Loss) Per Share, Non-Redeemable Common Stock: $(0.03) for the nine months ended September 30, 2023.
Business Highlights
- Business Combination Efforts: Actively pursuing a business combination with Digital Virgo Group, including a planned reincorporation as a Nevada corporation and a statutory share exchange under Nevada law.
- Operational Focus: Concentrating on businesses that service the sports industry, though not limited to this sector for business combination efforts.
- Trust Account Management: Managing its trust account by withdrawing funds to pay franchise and income taxes and for the redemption of common shares, while also depositing funds in connection with monthly extension deposits.
- Redemption Activity: Significant redemption activity has occurred, with stockholders redeeming shares for cash, impacting the number of public shares outstanding.
- Future Outlook: Working towards completing a business combination before the mandatory liquidation date of November 14, 2023, and negotiating with Digital Virgo to resolve differences and move forward with the transaction.
SEC Filing: