Company: PMVC
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075638
Chunk: 82

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 82
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 non-emerging growth companies,
but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period, which means
that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an
emerging growth company, can adopt the new or revised standards at the time private companies adopt the new or revised standard. This
may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company
nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential
differences in accounting standards used. 

8

PMV CONSUMER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

(Unaudited)

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

Use of Estimates

The preparation of unaudited condensed financial
statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial
statements and reported amounts of expenses during the reporting period.

Making estimates requires management to exercise
significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances
that existed at the date of the unaudited condensed financial statements, which management considered in formulating its estimate, could
change in the near term due to one or more future confirming events. One of the more significant accounting estimates included in these
unaudited condensed financial statements is the determination of the fair value of the warrant liabilities. Such estimates may be subject
to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates.

Cash and Cash Equivalents

The Company considers all short-term investments
with an original maturity of three months or less when purchased to be cash equivalents. As of June 30, 2025, and December 31, 2024, cash
and cash equivalents consist of an affiliated money market mutual fund, the Gabelli U.S. Treasury Money Market Fund, which invests fully
in instruments issued by the U.S. Government.

Derivative Warrant Liabilities

The Company accounts for warrants as either equity-classified
or liability-classified instruments based on an assessment