Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 242

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 242
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 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 December 31, 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.

Income
earned from U.S. debt obligations held by the Trust Account is intended to qualify for the portfolio income exemption or otherwise be
exempt from U.S. withholding taxes. Furthermore, shareholders of the Company’s shares may be subject to tax in their respective
jurisdictions based on applicable law, for instance, United States persons may be subject to tax on amounts deemed received depending
on whether the Company is a passive foreign investment company and whether U.S. persons have made any applicable tax elections permitted
under applicable law. The provision for income taxes was deemed to be immaterial.

There
is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman income tax regulations,
income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial
statements.

Recent
Accounting Pronouncements

Management
does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect
on the Company’s financial statements.

Note
3 - Initial Public Offering

On
January 4, 2023, the Company sold 6,000,000 Units, at a purchase price of $10.00 per Unit. On January 9, 2023, the Company issued an
additional 900,000 Units, at a purchase price of $10.00 per Unit, in connection with the over-allotment option. Each Unit consists of
one ordinary share, one warrant and one right, with each right entitling the holder thereof to receive one-tenth of one ordinary share
upon the completion of an initial business combination, subject to adjustment.

The
warrants will become exercisable at $11.50 per share, subject to adjustment, on the later of 30 days after the completion of the Initial
Business Combination or 12 months from the closing of our IPO and will expire at 5:00 p.m., New York City time, five years after the
completion of the