CBGGF (CBGGF)

Quarterly Report Filed: 2026-05-15

Chain Bridge I is a shell company (confirmed in filing) with a significant accumulated deficit of $4.3M as of March 31, 2026, indicating it has not yet completed a business combination and continues to burn cash through administrative expenses of ~$252K quarterly.
The company holds $774.8K in trust account investments but carries substantial debt obligations totaling $2.55M (Exchange Note, Bridge Financing Note, and Senior Note), creating a precarious balance sheet with total liabilities of $4.48M against only $941K in total assets.
Cash position declined sharply from $390K (Dec 2025) to $137K (Mar 2026), a 65% quarterly decrease, while derivative liabilities increased to $661.5K, suggesting ongoing dilution concerns and potential warrant-related losses that could further pressure shareholders.
Net loss widened to $436.7K for Q1 2026 versus $363.6K in Q1 2025 (20% increase year-over-year), driven by higher operating expenses and new debt issuance costs of $82.3K, indicating deteriorating financial trajectory with no revenue-generating operations.

Annual Report Filed: 2026-04-01

Chain Bridge I is a blank-check company (SPAC) that has not yet completed an initial business combination, as indicated by its status as a 'shell company'.
The company has not generated any revenue or income and is focused on identifying and completing a business combination with another company.
The company has a limited operating history and is subject to the risks associated with blank-check companies, including the ability to find a suitable target and complete a transaction.

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