Going concern warnings

These conditions and events raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the unaudited condensed consolidated financial statements are issued.

These factors raise substantial doubt about the ability of the Company to continue as a going concern.

These conditions raise substantial doubt about our ability to continue as a going concern for one year from the issuance of our consolidated financial statements.

There is substantial doubt regarding our ability to continue as a going concern.

There is substantial doubt about our ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern within one year after the date of issuance of the audited financial statements.

The Company's minimal cash balance, recurring operating losses, and significant working capital deficit raise substantial doubt about its ability to continue as a going concern within one year after the financial statements are issued.

These factors raise substantial doubt regarding the Company's ability to continue as a going concern for a period of one year from the issuance of these condensed financial statements.

These conditions raise substantial doubt about our ability to continue as a going concern.

These conditions and events raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that these unaudited condensed consolidated financial statements are issued.

As a result, there is substantial doubt about the Company's ability to operate as a going concern.

These factors raise substantial doubt about the Company's ability to continue as a going concern.

These matters raise substantial doubt about the Company's ability to continue as a going concern.

These factors among others raise substantial doubt about the ability of the company to continue as a going concern for a reasonable period of time.

These conditions raise substantial doubt about the Company's ability to continue as a going concern within one year from the issuance date of the unaudited condensed consolidated financial statements.

…of approximately $558.0 million that mature within one year of the balance sheet date and currently lacks sufficient liquidity to satisfy those obligations and has stated that substantial doubt exists about the Company's ability to continue as a going concern.

These factors raise substantial doubt about the Company's ability to continue as a going concern within one year after the date the consolidated financial statements are issued.

These factors raise substantial doubt about the Company's ability to continue as a going concern within one year after the date of these unaudited condensed interim financial statements being issued.

Because of historical and expected operating losses and net operating cash flow deficits, there is substantial doubt about the Company's ability to continue as a going concern for one year from the issuance of the condensed consolidated financial statements.

These factors raise substantial doubt regarding the Company's ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

As discussed in Note 3, conditions and other factors raise substantial doubt regarding the Company's ability to continue as a going concern.

These factors raise substantial doubt about the Company's ability to continue as a going concern.

Accordingly, notwithstanding the revenue and net income recognized during the current period, substantial doubt exists about the Company's ability to continue as a going concern.

The Company has suffered recurring losses from operations, has shareholders' deficit and negative working capital that raise substantial doubt about its ability to continue as a going concern.

Therefore, management has determined that such additional conditions raise substantial doubt about the Company's ability to continue as a going concern until the earlier of the consummation of the Business Combination or the date the Company is required to liquidate.

As such, there is substantial doubt about the Company's ability to continue as a going concern.

These matters raise substantial doubt about the Company's ability to continue as a going concern for the twelve months following the issuance of these unaudited condensed consolidated financial statements.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

Based on these factors, the Company has concluded there is substantial doubt about its ability to continue as a going concern for at least twelve months from the date the condensed consolidated financial statements are issued.

These conditions raise substantial doubt about our ability to continue as a going concern.

These factors create substantial doubt about the Company's ability to continue as a going concern.

Therefore, management has determined that these conditions raise substantial doubt about the Company's ability to continue as a going concern until the earlier of the consummation of the Business Combination or the date the Company is required to liquidate.

These factors create substantial doubt about the Company's ability to continue as a going concern.

Due to uncertainties related to these matters, there exists a substantial doubt about the ability of the Company to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern for twelve months after the issuance date of these consolidated financial statements.

As such, substantial doubt exists about the Company's ability to continue as a going concern within one year after the date these condensed consolidated financial statements are issued.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

Management has determined there is substantial doubt about its ability to continue as a going concern.

These conditions among others raise substantial doubt as to our ability to continue as a going concern.

Accordingly, substantial doubt exists about our ability to continue as a going concern and we cannot assure you that we will achieve sustainable operating profits as we continue to expand our business…

These factors raise substantial doubt about our ability to continue as a going concern.

As a result, there is substantial doubt about our ability to continue as a going concern as we estimate that we will need approximately $ 20,000,000 over the next twelve months to maintain our operations schedule.

These factors raise a substantial doubt about the Company's ability to continue as a going concern.

The independent registered public accounting firm auditors' report accompanying our June 30, 2026 financial statements contained an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

These matters, among others, raise substantial doubt about the ability of the Company to continue as a going concern.

Therefore, there is substantial doubt about the Company's ability to continue as a going concern.

These and other factors raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that financial statements are issued.

As a result of the Company's historical losses and projected cash needs, substantial doubt exists about the Company's ability to continue as a going concern.

These factors raise substantial doubt about the Company's ability to continue as a going concern.

These conditions raise substantial doubt about its ability to continue as a going concern.

These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern within one year after the date these financial statements are issued.

In view of these matters, there is substantial doubt about the Company's ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern one year from the date these financial statements are issued.

Therefore, there is substantial doubt about the Company's ability to continue as a going concern within one year after the date that the unaudited condensed consolidated financial statements are issued.

These factors, among others, raise substantial doubt about our ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern within one year after the date these financial statements are issued.

The Company has an accumulated deficit of $ 296,570,132 and has a working capital deficit of $ 10,869,592 as of June 30, 2026, which raises substantial doubt about its ability to continue as a going concern.

Accordingly, we have determined that substantial doubt exists about our ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern for one year from the issuance of the financial statements.

Accordingly, there is substantial doubt about the entity's ability to continue as a going concern within one year after the financial statements are issued.

These factors raise substantial doubt about the Company's ability to continue as a going concern for the twelve months from the date that the financial statements are issued.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

These conditions continue to raise substantial doubt about the Company's ability to continue as a going concern within one year after the date these financial statements are issued.

As of June 30, 2026, there continue to be factors which raise substantial doubt about the Company's ability to continue as a going concern within one year from the date the condensed consolidated financial statements are issued.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

We incurred a working capital deficit of approximately US$6.0 million and US$7.7 million as of December 31, 2024 and 2025, respectively, which raises substantial doubt about our ability to continue as a going concern.

These factors raise substantial doubt about the Company's ability to continue as a going concern within one year after the date of the unaudited condensed consolidated interim financial statements being issued.

As discussed under "Going Concern," the reclassification of our long-term debt to current liabilities and our resulting working capital deficit raise substantial doubt about our ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statements are issued.

These factors raise substantial doubts about the Company's ability to continue as a going concern for a period of 12 months from the date the consolidated financial statements were available to be issued.

Therefore, based on the Company's current financial condition and expected future cash flows, there is substantial doubt about the Company's ability to continue as a going concern for at least twelve months from the date of these financial statements issued.

…limited working capital and liquid assets relative to anticipated operating cash flow needs, raise substantial doubt about the Company's ability to continue as a going concern within one year after the date these financial statements are available to be issued.

It is management's opinion that these matters raise substantial doubt about our ability to continue as a going concern for a period of twelve months from the issuance date of these consolidated financial statements.

These factors raise substantial doubt about the Company's ability to continue as a going concern.

The Company's liquidity condition raises substantial doubt about the Company's ability to continue as a going concern for a period of time within one year after the date that the accompanying condensed financial statements are issued.

These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern.

As a result of the Company's history of losses and financial condition, there is substantial doubt about the ability of the Company to continue as a going concern.

These conditions raise substantial doubt about the Company's ability to continue as a going concern for a period of time within one year after that date that the consolidated financial statements are issued.

As a result, there is substantial doubt about the Company's ability to continue as a going concern for one year from August 19, 2026, the date the financial statements were available to be issued.

These conditions and events, considered in the aggregate, raise substantial doubt about the Company's ability to continue as a going concern within one year after the date these consolidated financial statements are issued.

Accordingly, these factors raise substantial doubt about the Company's ability to continue as a going concern.

These factors, as well as the uncertain conditions that the Company faces relative to capital raising activities, create substantial doubt as to the Company's ability to continue as a going concern.

Circle8 has concluded that there is substantial doubt about its ability to continue as a going concern for at least one year from the date of issuance of its unaudited condensed consolidated financial statements.

Based on these factors, substantial doubt exists regarding the Company's ability to continue as a going concern.

These factors raise substantial doubt about the Company's ability to continue as a going concern.

These factors raise substantial doubt about the Company's ability to continue as a going concern for a period of twelve months from the issuance date of this Quarterly Report.

These conditions raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that these financial statements are issued.

These circumstances raise substantial doubt about the Company's ability to continue as a going concern for the 12 months from the date when these financial statements were issued.

These factors raise substantial doubt about the Company's ability to continue as a going concern within one year from the date of filing.

These conditions raise substantial doubt as to the Company's ability to continue as a going concern..

Our Company's recurring losses from operations and negative cash flows from operations and our need to raise additional funding to finance our operations raise substantial doubt about our ability to continue as a going concern.

Accordingly, substantial doubt about the Company's ability to continue as a going concern exists.

These factors raise substantial doubt regarding the Company's ability to continue as a going concern within one year after the financial statements are issued.

These conditions raise substantial doubt about the Company's ability to continue as a going concern.

The Company has incurred losses since its inception, has negative working capital of approximately $ 22.9 million and has negative operating cash flows, which raise substantial doubt about the Company's ability to continue as a going concern.

These circumstances raise substantial doubt about the Company's ability to continue as a going concern for the 12 months from the date when these financial statements were issued.