Company: ATMCW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011749
Chunk: 29

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 29
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 we consummate our initial business combination. We have not selected any specific business combination target and
we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination
target with respect to an initial business combination with us.

While
we may pursue an acquisition or a business combination target in any business or industry, we intend to focus our search on a rapidly-growing
and large-scaled target, including but not limited to, targets in the following space: fintech, alternative and clean energy, biotech,
logistics, industrial software, artificial intelligence (“AI”) and cloud industry, that can benefit from the expertise and
capabilities of our management team. Our efforts in identifying prospective target businesses will not be limited to a particular geographic
region, although we intend to focus on businesses in Asia.

Results
of Operations

We
have neither engaged in any operations nor generated any revenues to date. Our only activities since inception to March 31, 2025, have
been organizational activities and those necessary to consummate the Initial Public Offering (“IPO”), described below. Following
our IPO, we will not generate any operating revenues until the completion of our initial business combination. We will generate non-operating
income in the form of interest income after the IPO. We expect to incur increased expenses as a result of being a public company (for
legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For
the three months ended March 31, 2025, we had a net income of $117,969, which consists of loss of $183,402 derived from formation and
operating costs offset by income earned on investment held in Trust Account of $301,371.

For
the three months ended March 31, 2024, we had a net income of $442,265, which consists of loss of $344,903 derived from formation and
operating costs offset by income earned on investment held in Trust Account of $787,168.

Liquidity
and Capital Resources

On
January 4, 2023, we consummated our IPO of 6,000,000 units (the “Units”), at $10.00 per Unit, generating gross proceeds of
$60,000,000. Simultaneously with the closing of our IPO, we consummated the sale of 370,500 Private Placement Units at a price of $10.00
per Private Placement Unit in