Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1670

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 1670
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 Securities Act
of 1933, as amended (the “Securities Act”). In the event that an executed waiver is deemed to be unenforceable against a
third party, the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company will seek to
reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all
vendors, service providers (other than the Company’s independent registered public accounting firm), prospective target businesses
or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim
of any kind in or to monies held in the Trust Account.

Liquidity

As
of December 31, 2024, the Company had a cash balance of $1,425 and a working capital deficit of $3,314,762. The Company expects that
it will need additional capital to satisfy its liquidity needs beyond the net proceeds from the consummation of the IPO and the proceeds
held outside of the Trust Account for paying existing accounts payable, identifying and evaluating prospective business combination candidates,
performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to merge with
or acquire, and structuring, negotiating and consummating the Initial Business Combination. The Company has incurred and expects to continue
to incur significant professional costs to remain as a public traded company and to incur transaction costs in pursuit of a Business Combination. In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards
Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,”
management believes that these conditions raise substantial doubt about the Company’s ability to continue as a going concern. In
addition, if the Company is unable to complete a Business Combination within the Combination Period, with the last extension termination
date on October 4, 2025, and such period is not extended, there will be a liquidation and subsequent dissolution. As a result, management
has determined that such additional condition also raises substantial doubt about the Company’s ability to continue as a going
concern. The financial statements do not include any adjustments that might result from the outcome of the uncertainty.

     F-10 

In
addition, in order to finance transaction costs in connection with a Business Combination, the Company’s Sponsor or an affiliate