Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1279

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 13
Chunk 1279
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 $1,262,500
and $690,000 respectively, against  promissory
notes.

Due
to Related Parties

The
Sponsor paid certain formation, operating or deferred offering costs on behalf of the Company. These amounts are due on demand and non-interest
bearing. As of December 31, 2024 and December 31, 2023, due to related parties amounted to $568,299 and $199,318, respectively.

Advisory
Services Agreement

The
Company engaged TenX Global Capital LP (“TenX”), a related party to the Company, as an advisor in connection with the Initial
Public Offering and business combination, to assist in hiring consultants and other services providers in connection with our Initial
Public Offering and the business combination, assist in the preparation of financial statements and other relevant
services to commence trading including filing the necessary documents as part of the transaction. Further, TenX will assist in preparing
the Company for investor presentations, conferences for due diligence, deal structuring and term negotiations.

     F-18 

During
the period from September 15, 2021 (inception) through December 31, 2024, a cash fee of $200,000 has been incurred as deferred offering
costs for these services of which $160,000 has been paid by the Sponsor through December 31, 2022 and additional $40,000 was paid subsequently
through December 31, 2023.

Administration
fee

Commencing
on the effective date of the registration statement, an affiliate of the Sponsor shall be allowed to charge the Company an allocable
share of its overhead, up to $10,000
per month up to the close of the business combination, to compensate it for the Company’s use of its offices, utilities and
personnel. An administration fee of $120,000
was recorded for the year ended December 31, 2024, which is also included in Due to Related
Parties and remained outstanding as of December 31, 2024.

Note
6 - Commitments and Contingencies

Registration
Rights

The
holders of the Founder Shares, Private Units, securities underlying the Unit Purchase Option (“UPO”), and units that may
be issued upon conversion of Working Capital Loans (and any ordinary shares issuable upon the exercise of the Private Units) will be
entitled to registration rights pursuant to a registration rights agreement to be signed prior to or on the effective date of