Company: ATMCW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011749
Chunk: 58

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 2
Chunk 58
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 by FINRA and are therefore subject to a lock-up for
a period of 180 days immediately following the effective date of the registration statement or the commencement of sales in the IPO pursuant
to Rule 5110(e)(1) of FINRA’s Rules, during which time the option may not be sold, transferred, assigned, pledged or hypothecated,
or be subject of any hedging, short sale, derivative or put or call transaction that would result in the economic disposition of the
securities, except as permitted under FINRA Rule 5110(e)(2).

6

Advisory
Services Agreement

The
Company engaged TenX Global Capital LP (“TenX”), a related party to the Company, as an advisor in connection with the Initial
Public Offering and business combination, to assist in hiring consultants and other services providers in connection with our Initial
Public Offering and the business combination, assist in the preparation of unaudited condensed financial statements and other relevant
services to commence trading including filing the necessary documents as part of the transaction. Further, TenX will assist in preparing
the Company for investor presentations, conferences for due diligence, deal structuring and term negotiations.

During
the period from September 15, 2021 (inception) through March 31, 2025, a cash fee of $200,000 has been incurred as deferred offering
costs for these services of which $160,000 has been paid by the Sponsor through December 31, 2022 and additional $40,000 was paid subsequently
through December 31, 2023.

Off-Balance
Sheet Arrangements; Commitments and Contractual Obligations

As
of March 31, 2025, we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K and did not
have any commitments or contractual obligations.

Critical
Accounting Policies And Estimates

The preparation of unaudited condensed financial statements and related disclosures in conformity with GAAP requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets
and liabilities at the date of the financial statements, and income and expenses during the periods reported. Actual results could materially
differ from those estimates. We have identified below critical accounting policies.

Ordinary
Shares Subject to Possible Redemption

We
account for our ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”)
Topic