Company: PMVC
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003340
Chunk: 472

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 4
Chunk 472
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 the years ended December 31, 2024 and 2023, is as follows:

    As of December 31, 2024  
    As of December 31, 2023 
  
    Statutory federal income tax rate 
     21.0% 
     21.0%
  
    State taxes, net of federal tax benefit 
     (3.4)% 
     5.5%
  
    Permanent book/tax differences 
     (12.2)% 
     42.6%
  
    Change in valuation allowance 
     (28.7)% 
     (74.9)%
  
    Effective income tax rate 
     (23.3)% 
     (5.8)%

The Company files income tax returns in the U.S.
federal jurisdiction and in various state and local jurisdictions and is subject to examination by the various taxing authorities.

F-15

PMV CONSUMER ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024

NOTE 7. FAIR VALUE MEASUREMENTS 

The fair value of the Company’s financial
assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale
of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the
measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of
observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions
about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities
based on the observable inputs and unobservable inputs used in order to value the assets and liabilities:

    Level 1:
    Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

    Level 2:
    Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active.

    Level 3:
    Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability.

The following tables present information about