Roth CH Acquisition Co., a shell company classified as a smaller reporting company and an emerging growth company, reported its financial results for the three and nine months ended September 30, 2024. The company has not commenced any operations as of the reporting date.

As of September 30, 2024, Roth CH Acquisition Co. had cash of $43,585, a significant increase from $13,755 as of December 31, 2023. However, total assets decreased to $49,960 from $23.5 million in the previous fiscal period, primarily due to the liquidation of its Trust Account, which was fully liquidated by this date. Total current liabilities rose to $1.9 million from $1.3 million, while warrant liabilities decreased significantly to $26,700 from $556,250.

For the three months ended September 30, 2024, the company reported a net loss of $59,858, a notable improvement compared to a net loss of $1.3 million for the same period in 2023. The loss from operations for the quarter was $59,858, down from $460,206 in the prior year. For the nine months ended September 30, 2024, Roth CH Acquisition Co. reported net income of $450,355, a decrease from $1.3 million in the same period of 2023. The income was primarily driven by interest earned on marketable securities and changes in the fair value of warrant liabilities, offset by operational costs.

The company underwent significant changes in its capital structure, including the redemption of a substantial number of Class A ordinary shares. In January 2023, shareholders approved an extension for the company to complete its initial business combination, leading to the redemption of 17.5 million Class A shares for approximately $181.9 million. Following this, the Trust Account balance was reduced to about $56.7 million. By June 2023, an additional 3.3 million Class A shares were redeemed, totaling about $35.6 million.

Roth CH Acquisition Co. has faced challenges in meeting Nasdaq listing requirements, leading to its decision to voluntarily delist its Class A ordinary shares, units, and warrants from Nasdaq, effective April 25, 2024. The company is now quoted on OTC Markets Group Inc.

Management has expressed substantial doubt about the company's ability to continue as a going concern due to liquidity issues and the need for additional capital to support financing and acquisition plans. The company is currently evaluating potential impacts from external factors, including the COVID-19 pandemic and geopolitical tensions.