Company: ATMCW
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001493152-25-024097
Chunk: 38

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 8
Chunk 38
---
 period leading up to the Initial Business Combination. The Company cannot provide any assurance
that its plans to raise capital or to consummate an Initial Business Combination will be successful. Based on the foregoing, management
believes that the Company lacks the financial resources it needs to sustain operations for a reasonable period of time. Moreover, management’s
plans to consummate the initial business combination may not be successful. These factors, among others, raise substantial doubt about
the Company’s ability to continue as a going concern.

Quantitative
and Qualitative Disclosures About Market Risk

The
net proceeds of the IPO and the sale of the Private Placement Units held in the Trust Account are invested in U.S. government treasury
securities with a maturity of 180 days or less or in money market funds investing solely in U.S. Treasuries and meeting certain conditions
under Rule 2a-7 under the Investment Company Act. Due to the short-term nature of these investments, we believe there will be no associated
material exposure to interest rate risk.

Related
Party Transactions

On
September 28, 2021, our 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 our Sponsor.

On
January 8, 2022, the board of directors of the Company and our 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 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 of 1,437,500 ordinary shares
    of $0.0001 par value each; and

    (c)
    Upon
    completion of the above steps, the authorized but unissued 20,000,000 Class B ordinary shares were cancelled.

On
January 8, 2022, the Company issued an additional 287,500 ordinary shares to our Sponsor for no additional consideration, resulting in
our Sponsor holding an aggregate of 1,725,000 ordinary shares (the founder shares). The issuance was considered as a bonus share issuance,
in substance a recapitalization transaction, which was recorded and presented retroactively. The