Lake Superior Acquisition swings to Q2 FY26 profit of $852,978 from loss of $61,535 a year earlier - LKSP News | RalliesLake Superior Acquisition swings to Q2 FY26 profit of $852,978 from loss of $61,535 a year earlier
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LKSP• Proposed merger
- The proposed merger with Openmarkets Group targets about 30,000,000 shares of exchange consideration, with up to 70,000,000 milestone shares.
Quarterly results
- Lake Superior Acquisition posts GAAP net income of $852,978 for the quarter ended June 30, 2026, versus a GAAP net loss of $61,535 a year earlier.
- Interest earned on investments held in the Trust Account totals $1.04 million, while general and administrative expenses run $182,522.
Six-month results and balance sheet
- Six-month GAAP net income rises to $1.49 million, compared with a GAAP net loss of $109,799 in the prior-year period.
- Cash outside the Trust Account stands at $135,803, alongside a working capital deficit of $136,860.
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