Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 434

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 434
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 entitled in exchange for our insurance brokerage services. For this reason, the Company recognizes revenue at a point in time when the premiums are collected by the respective insurance companies and cooling off period (normally 21 days) has elapsed, due to the specific practice in the industry.

| F-49 |

Revenue from renewal service fees is based on actual renewal premiums paid by policyholders referred by the Company to the insurance company and is in the form of renewal commissions. Renewal service fees, which are considered as variable consideration, are not included in the initial transaction price and are recorded when it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur, i.e., when a policyholder pays the renewal premium to the insurance company and the policy is renewed, because the Company is not able to conclude a significant reversal to the estimated variable consideration not probable until the contingency resolved. Renewal commissions are determined by multiplying a pre-agreed charge rate with renewal premiums actually paid by the policyholders.

An insurance intermediary is defined as a vendor who refer potential insurance policyholders to the Company and is rewarded with commissions. The Company is obligated to pay commissions to insurance intermediaries for insurance policies sold to the potential insurance policyholders they refer pursuant to the service contracts the Company entered with, when the insurance policies become effective.

Since the insurance intermediaries have no insurance broker license, they refer their clients to the Company who then sold the insurance products provides to them through providing brokerage service. And according to the contracts with insurance companies, the Company is considered the sole provider of the brokerage service and bears the risks associated with the contract. Therefore as a licensed broker, the Company believes they, instead of the insurance intermediaries, control the service before it is transferred to and accepted by insurance companies, i.e. the customers, and recognize commission revenue granted from insurance companies on a gross basis, while the commissions paid to its insurance intermediaries are recognized as cost of revenue.

Disaggregation of Revenues

The Company disaggregates its revenue by types of commission and fee earned, as the Company believes it best depicts how the nature, amount, timing and uncertainty of the revenue and cash flows are affected by economic factors. The summary of the Company’s total revenues by commission type for the years ended March 31, 2025 and 2024 was as follows:

Schedule of Disaggregation of Revenues

|                                 |     | For                   
 years ended March 31, |      2025 |     |   |       2024 |
|:--------------------------------|