Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1790

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 1790
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where the judgment is made or on principles of reciprocity between jurisdictions. This is reflected in a number of bilateral treaties
signed by the PRC, which provide that lack of jurisdiction of the judgment court can be a ground for refusal. Further, a foreign judgment
cannot be recognized and enforced in the PRC if a Chinese court has rendered a judgment on the same subject matter or recognized and
enforced another foreign judgment or arbitral award on the same subject matter. In addition, according to the PRC Civil Procedures Law,
the PRC courts will not enforce a foreign judgment against us or our directors and officers if they decide that the judgment violates
the basic principles of PRC laws or national sovereignty, security, or public interest. The PRC has no treaties or other forms of written
arrangement with the United States that provide for the reciprocal recognition and enforcement of foreign judgments. As a result, it
may be difficult for investors to effect service of process within the United States upon us or our executive officers or directors who
are residents of the PRC, or to enforce judgments in the PRC (including Hong Kong and Macau) that are obtained in U.S. courts against
us or such individuals, including judgments predicated upon the civil liability provisions of the securities laws of the United States
or any state thereof. Even with proper service of process, the enforcement of judgments obtained in U.S. courts or foreign courts based
on the civil liability provisions of the U.S. federal securities laws would be extremely difficult given the PRC Civil Procedures Law
and the lack of a treaty or principles of reciprocity providing for the recognition and enforcement of U.S. judgments. Furthermore, there
would be added costs and issues with bringing an original action in foreign courts to enforce liabilities based on the U.S. federal securities
laws against us or our officers and directors, and they still may be fruitless.

63

The
recent joint statement by the SEC and PCAOB, proposed rule changes submitted by Nasdaq, and the HFCAA all call for additional and more
stringent criteria to be applied to emerging market companies upon assessing the qualification of their auditors, especially the non-U.S.
auditors who are not inspected by the PCAOB. These developments could add uncertainties to our offering.

On
April 21, 2020, SEC Chairman Jay Clayton and PCAOB Chairman William D. Duhnke III, along with other senior SEC staff, released a joint
statement highlighting the risks associated with investing in companies based in