Stardust Power H1 net loss $4.1M, no revenue; cash $642k, going concern flagged

Stardust Power Inc.

Net loss of $4.1M in H1 2024 ($0.47 diluted EPS); Q2 net loss $2.7M ($0.31); no revenue.
Accumulated deficit $7.9M, stockholders' deficit $7.7M as of June 30, 2024.
Post-merger combined cash from PIPE ($10M) and trust ($1.48M); $7.55M transaction costs; cash may be inadequate for 12 months.
Business combination with GPAC II closed July 8, 2024; combined company renamed Stardust Power Inc. (SDST).
Earn-out: up to 5M additional shares if VWAP ≥ $12 for 20 trading days in any 30-day period before 2032.

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