Quetta Acquisition Corporation filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 13, 2026, disclosing a net loss of $113,225 for the third quarter and a nine-month net income of $758,158 driven by a $1,040,000 gain on forgiveness of promissory notes.

Key Highlights

  • Trust Account balance: Cash and investments held in trust totaled $20,216,920 as of September 30, 2026, up from $19,233,261 at December 31, 2025, according to the filing.
  • Q3 net loss: The company reported a net loss of $113,225 for the three months ended September 30, 2026, compared to a net loss of $34,853 for the same period in 2025.
  • Nine-month net income: For the nine months ended September 30, 2026, the company reported net income of $758,158, compared to a net loss of $836,474 for the same period in 2025.
  • Promissory note forgiveness: The filing discloses a gain on forgiveness of promissory notes of $1,040,000 recorded during the nine months ended September 30, 2026.
  • Redeemable shares: 1,700,703 shares were subject to possible redemption at a redemption value of $11.89 per share as of September 30, 2026.
  • Stockholders' deficit: Total stockholders' deficit stood at $(5,273,159) as of September 30, 2026, compared to $(5,107,041) at December 31, 2025.
  • Shares outstanding: As of November 11, 2026, there were 2,196,905 shares of common stock issued and outstanding, the filing states.

Quetta Acquisition's Financial Position for the Quarter Ended September 30, 2026

According to the filing, Quetta Acquisition Corporation (OTC:QETA) reported a net loss of $113,225 for the three months ended September 30, 2026, compared to a net loss of $34,853 for the same quarter a year earlier. Formation and operation costs for the third quarter were $125,372, down from $144,254 in Q3 2025. Related party administrative fees of $30,000 and franchise tax expenses of $10,200 were also recorded in the quarter. Interest earned on cash and investments held in trust was $182,329 for the three months ended September 30, 2026, partially offsetting operating losses. Interest and penalties on excise tax payable of $93,849 were recognized in the quarter, the filing discloses.

For the nine months ended September 30, 2026, the company reported net income of $758,158, a swing from the $836,474 net loss recorded in the same period of 2025. The filing attributes this improvement primarily to a $1,040,000 gain on forgiveness of promissory notes recorded during the nine-month period. Formation and operation costs for the nine months were $426,814, compared to $1,245,355 in the prior-year period. Income taxes provision for the nine months was $104,030, against $131,298 in the prior year.

On the balance sheet, total assets were $20,269,925 as of September 30, 2026, against total liabilities of $5,324,410, which included a deferred underwriting fee payable of $2,415,000, excise tax payable of $707,897, and accounts payable and accrued expenses of $665,515. The filing reports that cash on hand was $384 at quarter end, down from $1,195 at December 31, 2025. The company identifies itself as a shell company, a smaller reporting company, and an emerging growth company.

What Was Disclosed

Quetta Acquisition Corporation disclosed its unaudited consolidated financial results for the quarter and nine months ended September 30, 2026, including trust account balances, a nine-month gain on note forgiveness, and a widening stockholders' deficit of $(5,273,159).