Company: VMCWF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010983
Chunk: 72

Company: Valuence Merger Corp. I
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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able  
    Class A redeemable  
    Class A and Class B non-redeemable 

    For the Three Months Ended March 31, 

    2025  
    2024 

    Class A redeemable  
    Class A and Class B non-redeemable  
    Class A redeemable  
    Class A and Class B non-redeemable 
  
    Basic and diluted net income per ordinary share 

    Numerator: 

    Allocation of net income, as adjusted 
    $6,328  
    $18,648  
    $312,137  
    $276,544 
  
    Denominator: 

    Basic and diluted weighted average shares outstanding 
     1,867,402  
     5,502,490  
     6,210,718  
     5,502,490 
  
    Basic and diluted net income per ordinary share 
    $0.00  
    $0.00  
    $0.05  
    $0.05 

    11

VALUENCE
MERGER CORP. I

NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

MARCH
31, 2025

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 limit 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

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

Convertible
Promissory Notes

The
Company has elected the bifurcation option to account for the proceeds received during 2023 and 2024 from the convertible promissory
notes to the Sponsor and related party. These promissory notes are presented in the balance sheets as Convertible promissory notes -
sponsor and convertible promissory note - related party.

The
Company analyzed convertible promissory notes to assess if the fair value option was appropriate in 202