Company: PMVC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043278
Chunk: 14

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 B convertible common stock  
    Class A
    common stock (fka Class C common stock)  
    Class
    B convertible common stock 
  
    Basic net loss per share of common stock 

    Numerator: 

    Allocation of net loss 
    $(34,619) 
    $(12,695) 
    $(56,620) 
    $(20,763)
  
    Denominator: 

    Basic weighted average shares outstanding 
     73,169  
     26,831  
     73,169  
     26,831 

    Basic net loss per share of common stock 
    $(0.47) 
    $(0.47) 
    $(0.77) 
    $(0.77)

10

PMV CONSUMER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited)

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

Concentration of Credit Risk

Financial instruments that potentially subject
the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal
Deposit Insurance Corporation coverage of $250,000. Any loss incurred, or a lack of access to such funds, could have a significant adverse
impact on the Company’s financial condition, results of operations, and cash flows.

Fair Value of Financial Instruments

Excluding the warrant liability, the fair value
of the Company’s assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurements
and Disclosures,” approximates the carrying amounts represented in the accompanying condensed balance sheets, primarily due to their
short-term nature.

Recent Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07,
Segment Reporting (Topic 280), which improves reportable segment disclosure requirements. The new standard will require enhanced
disclosures about a public company’s significant segment expenses and more timely and detailed segment information reporting throughout
the fiscal period, including for companies with a single reportable segment. The standard became effective for the Company for the fiscal
year ended December 31, 2024, refer to Note 8 for more information. 

Management does not believe that any other recently
issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect