Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 351

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 351
---
 In connection with this extension, on September 26, 2023, the Company also entered into a non-interest bearing promissory note
with the Sponsor for $690,000, that is payable on the earlier of January 4, 2024 or promptly after the completion of an initial business
combination. On January 4, 2024, the Company deposited $165,000 into the Trust Account to extend the deadline to complete the business
combination from January 4, 2024 to April 4, 2024. On February 20, 2024, the Company further raised $20,000 from the sponsor against a
promissory note. In connection with this extension, on December 28, 2023, the Company entered into a non-interest bearing promissory note
with the Sponsor for $660,000, that is payable on the earlier of January 4, 2025 or promptly after the completion of an initial business
combination. As on December 31, 2024 and 2023, there were outstanding as loan amounts of $1,262,500 and $690,000, respectively, against
a promissory note issued to the Sponsor for extension of the period of business combination from October 4, 2023 to November 4, 2024.
On November 4, 2024, December 4, 2024, and January 4, 2025, the Company entered into monthly extension letters with the sponsors to extend
the timeline of the business combination from November 4, 2024 to December 4, 2024, from December 4, 2024 to January 4, 2025, and from
January 4, 2025 to February 4, 2025, respectively. The November and December extension funds were deposited into the trust account following
December 31, 2024, and as a result, did not accrue interest income during that period. The November and December extension payments were
not included in the common stock subject to possible redemption figures as of December 31, 2024.

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 2023, due
to related party amounted to $568,299 and $199,318, respectively.

Administration fee

Commencing