Company: PMVC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043278
Chunk: 20

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 20
---
 ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited)

NOTE 5. STOCKHOLDER’S EQUITY (CONT.)

The below table outlines the Company’s capital
structure as of March 31, 2025 and December 31, 2024:

     Share Class      Shares Outstanding   Registered*  Class A common (fka Class C common)   0.10%   96   Restricted**  Class A common (fka Class C common)   73.07%   73,073   Total Class A Common Shares      73.17%   73,169                   Restricted**  Class A convertible common   —%   —   Restricted**  Class B convertible common   26.83%   26,831   Total Outstanding Shares      100.00%   100,000  

*Registered
shares are not listed, and thus not freely tradeable.

**Restricted
shares are unregistered and not freely tradable and subject to individual legends and restrictions.

NOTE 6. INCOME TAX

The Company’s net deferred tax assets at
March 31, 2025 and December 31, 2024, are as follows: 

    Deferred tax asset 
    March 31, 2025  
    December 31,  2024 
  
    Organizational costs/Start-up expenses 
    $450,412  
    $438,922 
  
    Federal Net Operating Loss 
     —  
     — 
  
    Total deferred tax asset 
     450,412  
     438,922 
  
    Valuation allowance 
     (450,412) 
     (438,922)
  
    Deferred tax asset, net of allowance 
    $—  
    $— 

As of March 31, 2025 and December 31, 2024, the
Company did not have any U.S. federal and state net operating loss carryovers (“NOLs”) available to offset future taxable
income.

In assessing the realization of the deferred tax
assets, management considers whether it is more likely than not that some portion of all of the deferred tax assets will not be realized.