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FSHP

Flag Ship Acquisition Corporation

FSHP

Flag Ship Acquisition Corporation • NASDAQ
$10.67 ▲ 0.00% (+0.00)
Market Cap $94.57 M
52w High $10.96
52w Low $10.13
Dividend Yield 0%
P/E 41.04
Volume 6
Outstanding Shares 8.86M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $236.596K ▲ $453.501K ▼ 0% $0.086 ▲ $453.501K ▲
Q2-2025 $0 $152.648K ▼ $589.626K ▲ 0% $0.086 ▲ $-152.648K ▼
Q1-2025 $0 $162.071K ▼ $577.698K ▲ 0% $0.084 ▲ $577.699K ▲
Q4-2024 $0 $332.518K ▼ $477.375K ▼ 0% $0.054 ▼ $-332.518K ▲
Q3-2024 $0 $402.971K $488.327K 0% $0.06 $-402.971K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $18.751K ▼ $32.639M ▼ $2.931M ▲ $-2.876M ▼
Q2-2025 $19.769K ▼ $72.366M ▲ $2.664M ▲ $69.702M ▲
Q1-2025 $35.705K ▼ $71.696M ▲ $2.584M ▲ $69.112M ▲
Q4-2024 $76.747K ▲ $70.972M ▲ $2.437M ▲ $68.534M ▲
Q3-2024 $215 $70.11M $2.053M $68.057M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $353.178K ▼ $-211.229K ▼ $40.387M ▲ $-40.059M ▼ $-1.018K ▲ $-211.229K ▼
Q2-2025 $689.949K ▲ $-95.936K ▲ $0 $80K ▼ $-15.936K ▲ $-5.725K ▲
Q1-2025 $577.698K ▲ $-183.542K ▲ $0 ▲ $142.5K ▼ $-41.042K ▼ $-183.542K ▲
Q4-2024 $477.375K ▼ $-243.753K ▲ $-69M $320.285K ▲ $76.532K ▲ $-243.753K ▲
Q3-2024 $488.327K $-412.977K $-69M $307.566K $-105.411K $-412.977K

Five-Year Company Overview

Income Statement

Income Statement Flag Ship Acquisition is essentially an empty shell today, so its income statement is not like a normal operating business. It shows no revenue and no real operating activity. The small gains or losses per share over the past few years likely come from things like interest on cash and routine SPAC expenses, not from selling products or services. In practical terms, the past income results tell you almost nothing about how the eventual combined company might perform once the merger is complete.

Balance Sheet

Balance Sheet The balance sheet is very small and simple. It shows a modest amount of assets funded by shareholder equity and no financial debt. For a SPAC, the real economic resources often sit in a trust account and may not be fully visible in this summarized data. What matters most here is that the company has been kept very clean: no operating assets, no loans, and a capital structure that is waiting to be used in the planned merger. The current balance sheet reflects a temporary holding vehicle rather than a functioning business.

Cash Flow

Cash Flow Reported cash flow is essentially flat, which is consistent with a company that has no operations. There is no visible pattern of cash being generated or invested in a business because the SPAC’s role is simply to hold funds and search for a target. This means there is no track record of how management handles operating cash, capital spending, or long-term investment decisions. The real cash flow story will only begin once the merger closes and the target’s financials become available.

Competitive Edge

Competitive Edge As a SPAC, Flag Ship’s competitive position is not about products or market share; it is about its ability to complete an attractive merger on good terms and within the allowed timeframe. It essentially competes with other SPACs and traditional IPO routes to be the chosen listing partner for a private company. The announced merger with Great Future Technology Inc. is a key turning point, but because very little is publicly known about that company’s business, market, or strengths, it is impossible to judge the future competitive position of the combined entity at this stage.

Innovation and R&D

Innovation and R&D Flag Ship itself does not conduct research, develop technology, or own intellectual property. Its only real “asset” is its capital and its sponsor’s ability to find a deal. The innovation and R&D story will come entirely from Great Future Technology Inc., the merger target. However, public information about that company’s products, technology, and differentiation is currently very limited and somewhat confusing due to other firms with similar names. Until detailed filings or presentations are released, any claims about innovation, product pipeline, or technological edge would be highly speculative.

Summary

Flag Ship Acquisition is a typical SPAC: no revenue, no operating business, and a very simple balance sheet while it waits to merge with a private company. Historical financials tell you almost nothing about what the future operating company will look like. The announced merger with Great Future Technology Inc. is the main driver of future prospects, but there is not yet enough reliable public information about that business to form a clear view of its strengths, risks, or competitive advantages. Overall, FSHP is in a transition phase from a cash shell to a potential operating company, and the key unknowns revolve around the details, quality, and execution of the planned merger rather than its past financial performance.