As of June 30, 2024, RCF Acquisition Corp., now known as Perception Capital Corp IV, reported significant financial changes compared to the previous fiscal period. The company had 10,527,671 Class A ordinary shares outstanding, with 5,749,999 classified as non-redeemable. The total assets increased to $54.6 million from $53.6 million at the end of 2023, while total liabilities rose to $3.5 million from $2.3 million, resulting in a shareholders' deficit of $(3.1 million), up from $(1.6 million).

Cash reserves saw a dramatic decline, with cash on hand dropping to $25,214 from $222,581 at the end of 2023. However, cash held in the Trust Account increased slightly to $54.3 million from $53.0 million. The company reported a net loss of $(104,269) for the three months ended June 30, 2024, a notable improvement from a net loss of $(792,076) in the same period of 2023. For the six months ended June 30, 2024, the net loss was $(197,252), compared to $(256,288) in the prior year.

General and administrative expenses for the second quarter of 2024 were $467,137, significantly lower than $2,516,771 in Q2 2023. For the first half of 2024, these expenses totaled $1,082,931, down from $3,830,157 in the same period of 2023. Interest earned in the Trust Account also decreased, with $680,937 reported for Q2 2024 compared to $2,188,695 in Q2 2023.

Strategically, the company underwent a significant leadership change on November 6, 2023, appointing new directors and officers, including Rick Gaenzle as CEO. The company also received a compliance notice from the NYSE in January 2024 for not maintaining a minimum of 300 public stockholders. In response, a business plan was submitted and accepted, with ongoing monitoring for compliance.

The company has not yet commenced operations and continues to focus on completing a business combination, with a deadline extended to November 15, 2024. If the business combination is not completed by this date, the company will cease operations and liquidate. As of June 30, 2024, management expressed substantial doubt about the company's ability to continue as a going concern without additional capital from the sponsor, which is not obligated to provide it.