International Media (IMAQW) Q2 2025 Earnings Report

IQ2 2025 for International Media Acquisition Corp (IMAQW) presents a challenging liquidity and profitability profile typical of a SPAC operating as a shell company seeking a business combination. The quarter shows no reported revenue, an operating loss of $202,957, and a net loss of $170,303 ($0.0226 per share). Operating cash flow was negative at $109,142, while financing activities generated $168,895, resulting in a net cash change of -$247 (with starting cash of $247). The balance sheet reveals total assets of $11.849 million against total liabilities of $15.240 million and negative stockholders’ equity of -$3.390 million, signaling meaningful leverage and limited remaining cushion for near-term liquidity needs. Enduring concerns about liquidity, external financing discretion, and the absence of revenue underscore a high-risk, high-uncertainty investment profile until a value-creating business combination is executed. Management commentary, if provided, would be critical to reassessing the runway and strategic direction; however, no earnings transcript was available in the provided data to date.