Company: PMVC
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003340
Chunk: 700

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7A
Chunk 700
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 a tax
return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities.
The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized
tax benefits and no amounts accrued for interest and penalties as of December 31, 2024 and 2023. The Company is currently not aware of
any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject
to income tax examinations by major taxing authorities since inception. 

F-10

PMV CONSUMER ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONT.)

Net Loss per Common Share

Net loss per common share is computed by dividing
net loss by the weighted average number of shares of common stock outstanding for the period. The Company has not considered the effect
of warrants to purchase 340,245 shares of Class A common stock, since the warrants are contingent upon the occurrence of future events
and average market price of the Company’s Class A common stock for the years ended December 31, 2024 and 2023, was below the Warrants’
$503.61 exercise price. As a result, diluted loss per common share is the same as basic loss per common share for the periods presented.

As of December 31, 2024, the Company has two classes
of shares that participate in earnings, which are referred to as Class A common stock (fka Class C common stock) and Class B convertible
common stock (the “Founder Shares”). Earnings and losses are shared pro-rata between the two classes of shares. This presentation
contemplates a transaction as the most likely outcome, in which case, all two classes of shares share pro rata in the income (loss) of
the Company.

As of December 31, 2023, the Company had three
classes of shares that participated in earnings, which are referred to as Class A convertible common stock (the “Common Stock”),
Class B convertible common stock (the “Founder Shares”), and Class C common stock. Earnings and losses are shared pro-rata
between the three classes of shares. This presentation contemplates a transaction as the most likely outcome, in which case, all three
classes of shares share pro r