Company: VMCWF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023470
Chunk: 25

Company: Valuence Merger Corp. I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 in the Cayman Islands or the United States. As such, the Company’s tax
provision was zero for the periods presented. The Company’s management does not expect that the total amount of unrecognized tax
benefits will materially change over the next twelve months.

Net
Income per Ordinary Share

The
Company complies with accounting and ordinary disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net income
per ordinary share is computed by dividing net income by the weighted average number of ordinary shares outstanding for the period. The Company has two classes of shares, (i) Class A Ordinary Shares and (ii) non-redeemable Class A Ordinary Shares
and Class B ordinary shares, par value of 0.0001 per share (the “Class B Ordinary Shares”, and together with the Class A Ordinary
Shares, the “Ordinary Shares”). Income and
losses are shared pro rata between the two classes of shares. This presentation contemplates a Business Combination as the most likely
outcome, in which case, both classes of ordinary shares share pro rata in the loss of the Company. Accretion associated with the redeemable
Class A ordinary shares is excluded from earnings per share as the redemption value approximates fair value.

The
calculation of diluted income per ordinary share does not consider the effect of the warrants issued in connection with the (i) Initial
Public Offering, and (ii) the private placement, since the exercise of the warrants is contingent upon the occurrence of future events.
The warrants are exercisable to purchase 17,939,643 Class A ordinary shares in the aggregate. As of June 30, 2025 and 2024, the Company
did not have any dilutive securities or other contracts that could, potentially, be exercised or converted into ordinary shares and then
share in the earnings of the Company. As a result, diluted net income per ordinary share is the same as basic net income per ordinary
share for the periods presented.

The
following table reflects the calculation of basic and diluted net income per ordinary share (in dollars, except per share amounts):

 SCHEDULE OF NET LOSS PER COMMON SHARE

    Class
    A
 Redeemable  
    Class
    A & Class B
 Non-Redeemable  
    Class
    A
 Redeemable  
    Class
    A & Class B
 Non-Redeemable  
    Class
    A
 Redeemable