Company: ATMCW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023265
Chunk: 59

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 2
Chunk 59
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 4, 2025, May 4, 2025,  June 4, 2025, July 4, 2025 and August 4, 2025, the Company entered into extension letters to
extend the timeline of the business combination on a monthly basis through September 4, 2025. As of June 30, 2025, the extension payments
relating to January through June 2025, together with the $5,021 shortfall from prior extensions, had not yet been deposited into the
Trust Account and, accordingly, did not accrue interest income during the period. These extension payments were also not included in
the common stock subject to possible redemption as of June 30, 2025.

Due
to Related Parties

The
Sponsor paid certain formation, operating or deferred offering costs on behalf of the Company. These amounts are due on demand and non-interest
bearing. As of June 30, 2025 and December 31, 2024, due to related party amounted to $754,589 and $568,299, respectively.

Administration
fee

Commencing
on the effective date of the registration statement, an affiliate of the Sponsor shall be allowed to charge the Company an allocable
share of its overhead, up to $10,000 per month up to the close of the business combination, to compensate it for the Company’s
use of its offices, utilities and personnel. An administration fee of $30,000 was recorded for both the three months ended June 30, 2025
and 2024, and $60,000 for the six months ended June 30, 2025 and 2024.

Other
Contractual Obligations

Underwriting
Agreement

We
granted the underwriters a 45-day option from the date of IPO to purchase up to 900,000 additional Units to cover over-allotments, if
any, at the IPO price less the underwriting discounts and commissions. The underwriters exercised the over-allotment option in full effective
January 9, 2023. Simultaneously, on January 4, 2023, an amount of $352,350 due to related party was converted into over-allotment of
Private Placement, and the underwriter deposited additional $34,650 on behalf of Sponsor for 17,325 Founder Shares for $2.00 per share
which was sold by the Sponsor to underwriters. The Company