TLGYF · Tlgy Acquisition Corp · Congressional Trades

Substantial doubt about the company's ability to continue as a going concern.

“In connection with management's assessment of going concern considerations in accordance with Financial Accounting Standards Board's ("FASB") ASC Topic 205-40, "Presentation of Financial Statements—Going Concern", management has determined that the Company's liquidity condition, working capital deficit, and the requirement to complete a Business Combination within the prescribed timeframe raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that these unaudited condensed financial statements are issued. While the extension provides additional time to complete a Business Combination, it does not alleviate the substantial doubt about the Company's ability to continue as a going concern, as the completion of a Business Combination remains uncertain.”