Company: ATMCW
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001493152-25-024097
Chunk: 27

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 8
Chunk 27
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 amount to additional paid-in capital, net of purchased cost,
in the balance sheets on the day of the IPO which is the grant date.

Due
to HCYC

The
target company, HCYC, paid certain operating costs and extension funds on behalf of the Company. As of September 30, 2025 and December
31, 2024, due to HCYC amounted to $586,553 and $0, respectively.

    F-17

Note
7 - Shareholders’ Equity

Preferred
Shares - The Company is authorized to issue 1,000,000 shares of preferred shares with a par value of $0.0001 per share with such
designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors.
As of September 30, 2025, and December 31, 2024, there were no preferred shares issued or outstanding.

Ordinary
Shares

The
Company was authorized to issue 200,000,000 Class A ordinary shares with a par value of $0.0001 per share and 20,000,000 Class B ordinary
shares with a par value of $0.0001 per share. Holders of Class A and Class B ordinary shares were entitled to one vote for each share.

On
September 28, 2021, the Sponsor received 1,437,500 of the Company’s Class B ordinary shares in exchange for $25,000 paid for deferred
offering costs borne by the Sponsor. Out of the 1,437,500 Class B ordinary shares, an aggregate of up to 187,500 Class B ordinary shares
were subject to forfeiture to the extent that the underwriters’ over-allotment option is not exercised in full or in part so that
the number of Founder Shares will equal 20% of the Company’s issued and outstanding ordinary shares after the Initial Public Offering
(excluding private placement shares).

On
January 8, 2022, the board of directors of the Company and the Sponsor, as sole shareholder of the Company, approved, through a special
resolution, the following share capital changes:

(a)
Each of the authorized but unissued 200,000,000 Class A ordinary shares were cancelled and re-designated as the ordinary shares of $0.0001
par value each;

(b)
Each of the 1,437,500 Class B ordinary shares in issue were repurchased in consideration for the issuance