Company: VMCWF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023470
Chunk: 24

Company: Valuence Merger Corp. I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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are affected by charges against additional paid-in capital and accumulated deficit.

At
June 30, 2025 and December 31, 2024, the Class A ordinary shares reflected in the condensed balance sheets are reconciled in the following
table:

 SCHEDULE OF ORDINARY CLASS OF SHARES

    Class
    A ordinary shares subject to possible redemption, at redemption value, December 31, 2023 
    $69,262,338 
  
    Less: 

    Redemption
    of shares 
     (49,900,380)
  
    Plus: 

    Accretion
    of Class A ordinary shares subject to possible redemption 
     2,844,679 
  
    Class
    A ordinary shares subject to possible redemption, at redemption value, December 31, 2024 
    $22,206,637 
  
    Plus: 

    Accretion
    of Class A ordinary shares subject to possible redemption 
     237,370 
  
    Class
    A ordinary shares subject to possible redemption, at redemption value, March 31, 2025 
    $22,444,007 
  
    Plus: 

    Accretion
    of Class A ordinary shares subject to possible redemption 
     269,365 
  
    Class
    A ordinary shares subject to possible redemption, at redemption value, June 30, 2025 
    $22,713,372 

Income
Taxes

ASC
Topic 740, “Income Taxes,” prescribes a recognition threshold and a measurement attribute for the financial statement recognition
and measurement of tax positions taken or expected to be taken in 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’s management determined that the Cayman
Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized
tax benefits as income tax expense. As of June 30, 2025 and December 31, 2024, there were no unrecognized tax benefits and no amounts
accrued for interest and penalties. 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 considered to be a Cayman Islands exempted company with no connection to any other taxable jurisdiction and is presently not
subject to income taxes or income tax filing requirements