Company: PMVC
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003340
Chunk: 586

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 6
Chunk 586
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    Allocation of net loss 
    $—  
    $(114,421) 
    $(41,959) 
    $(61,871) 
    $(17,254) 
    $(29,016)
  
    Denominator: 

    Basic weighted average shares outstanding 
     —  
     73,169  
     26,831  
     57,214  
     15,955  
     26,831 

    Basic net loss per share of common stock 
    $—  
    $(1.56) 
    $(1.56) 
    $(1.08) 
    $(1.08) 
    $(1.08)

Concentration of Credit Risk

Financial instruments that potentially subject
the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal
Deposit Insurance Corporation coverage of $250,000. Any loss incurred, or a lack of access to such funds, could have a significant adverse
impact on the Company’s financial condition, results of operations, and cash flows.

Fair Value of Financial Instruments

Excluding the warrant liability, the fair value
of the Company’s assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurements
and Disclosures,” approximates the carrying amounts represented in the accompanying condensed balance sheets, primarily due to their
short-term nature.

F-11

PMV CONSUMER ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(CONT.)

Recent Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07,
Segment Reporting (Topic 280), which improves reportable segment disclosure requirements. The new standard will require enhanced
disclosures about a public company’s significant segment expenses and more timely and detailed segment information reporting throughout
the fiscal period, including for companies with a single reportable segment. The standard became effective for the Company for the fiscal
year ended December 31, 2024, refer to Note 8 for more information. 

Management does not believe that any other recently
issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial
statements.

NOTE 3. RELATED PARTY TRANSACTIONS

On March 20