Company: PMVC
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003340
Chunk: 117

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 117
---
 change in control if a substantial number of our shares of common stock are issued, which may affect, among other things, our ability to use our net operating loss carry forwards, if any, and most likely will also result in the resignation or removal of our present officers and directors; and

    ●
    may adversely affect prevailing market prices for our securities.

Similarly, if we issue debt securities or otherwise
incur significant indebtedness, it could result in:

    ●
    default and foreclosure on our assets if our operating revenues after a transaction are insufficient to pay our debt obligations;

    ●
    acceleration of our obligations to repay the indebtedness even if we have made all principal and interest payments when due if the debt security contains covenants that required the maintenance of certain financial ratios or reserves and we breach any such covenant without a waiver or renegotiation of that covenant;

    ●
    our immediate payment of all principal and accrued interest, if any, if the debt security is payable on demand; and

    ●
    our inability to obtain additional financing, if necessary, if the debt security contains covenants restricting our ability to obtain additional financing while such security is outstanding.

Results of Operations

We have neither engaged in any operations nor
generated any revenues to date. Our only activities through December 31, 2024, were organizational activities, those necessary to prepare
for the IPO, described below, and searching for a business opportunity for which to complete transaction. We do not expect to generate
any operating revenues until after the completion of a transaction. We generate non-operating income in the form of interest income on
marketable securities held. We incur expenses as a result of being a public company (for legal, financial reporting, accounting and auditing
compliance), as well as for due diligence expenses.

For the year ended December 31, 2024, we had a
net loss of $156,380, which consists of interest income of $55,916, offset by general and administrative expenses of $176,864, franchise
tax expense of $5,286 and provision for income taxes of $30,146.

For the year ended December 31, 2023, we had a
net loss of $108,141, which consists of the change in the fair value of derivative warrant liabilities of $146,020, interest income of
$51,915, offset by general and administrative expenses of $256,691, franchise tax expense of $13,200 and provision for income