Flag Ship Acquisition (FSHP) Q2 2024 Earnings Report

Flag Ship Acquisition Corporation (FSHP) reported results for the quarter ended June 30, 2024 showing no operating revenue (the company is a blank‑check acquisition vehicle). Operating expenses were $78,021 for the quarter (G&A / SG&A). FSHP recorded $97,945 of other income resulting in pre‑tax income of $19,924 and net income of $19,924 (EPS $0.01 on 2,509,396 weighted average shares). The company holds material investment assets (~$69.10 million) alongside modest cash ($105.6k) and limited liabilities (~$1.77 million), yielding total stockholders’ equity of ~$67.57 million. Operating cash flow was negative at $149k; investing activity reflects purchases of investments of $69.0 million, and financing activity primarily reflects equity issuance (~$69.63 million), producing a small net increase in cash for the quarter. In short: FSHP remains a capital vehicle with a strong investment balance sheet but no operating business or revenue. Investment value will be determined by the success and economics of any future business combination.