Company: PMVC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001213900-25-107610
Chunk: 93

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 93
---
*  Class A common (fka Class C common)   0.10%   96   Restricted**  Class A common (fka Class C common)   73.07%   73,073   Total Class A Common Shares      73.17%   73,169                   Restricted**  Class A convertible common   —%   —   Restricted**  Class B convertible common   26.83%   26,831   Total Outstanding Shares      100.00%   100,000  

  * Registered shares are not listed, and thus not freely tradeable. 

  ** Restricted shares are unregistered and not freely tradable and subject to individual legends and restrictions. 

NOTE
6. INCOME TAX

The
Company’s net deferred tax assets at September 30, 2025 and December 31, 2024, are as follows: 

    Deferred tax assets 
    September 30, 2025  
    December 31,  2024 
  
    Organizational costs/Start-up expenses 
    $468,590  
    $438,922 
  
    Federal Net Operating Loss 
     —  
     — 
  
    Total deferred tax assets 
     468,590  
     438,922 
  
    Valuation allowance 
     (468,590) 
     (438,922)
  
    Deferred tax assets, net of allowance 
    $—  
    $— 

As
of September 30, 2025 and December 31, 2024, the Company did not have any U.S. federal and state net operating loss carryovers (“NOLs”)
available to offset future taxable income.

In
assessing the realization of the deferred tax assets, management considers whether it is more likely than not that some portion of all
of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of
future taxable income during the periods in which temporary differences representing net future deductible amounts become deductible.
Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies
in making this assessment. After consideration of all of the information available, management determined that a full valuation allowance
was required.

The
income tax provision