Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 73

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 73
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 of the Inland Revenue Department of Hong Kong, no tax is payable in Hong Kong in respect to dividends paid by us. Further, there are no restrictions or limitation under the laws of Hong Kong imposed on the conversion of HK$ into foreign currencies and the remittance of currencies out of Hong Kong or across borders and to U.S investors.

HCYC does not have any contractual agreements in place its operating subsidiary that establishes control over it. HCYC controls its operating subsidiary by virtue of holding all of the voting interest.

As of the date of this prospectus, no transfers, dividends, or distributions have been made between HCYC and HCYC HK. Further, no transfers, dividends, or distributions have been made to investors. Please see our Consolidated Financial Statements starting on page F-1.

The Holding Foreign Companies Accountable Act

HCYC is, and following the completion of the Business Combination, PubCo will be subject to a number of prohibitions, restrictions and potential delisting risk under the Holding Foreign Companies Accountable Act (the “ HFCAA”). Pursuant to the HFCAA and related regulations, if PubCo has filed an audit report issued by a registered public accounting firm that the Public Company Accounting Oversight Board (the “ PCAOB”) has determined that it is unable to inspect and investigate completely, the Securities and Exchange Commission (the “ SEC”) will identify PubCo as a “Commission-identified Issuer,” and the trading of PubCo’s securities on any U.S. national securities exchanges, as well as any over-the-counter trading in the United States, will be prohibited if following the completion of the Business Combination, PubCo is identified as a Commission-identified Issuer for two consecutive years.

In August 2022, the PCAOB, the China Securities Regulatory Commission (the “ CSRC”) and the Ministry of Finance of the PRC signed a Statement of Protocol (the “ Statement of Protocol”), which establishes a specific and accountable framework for the PCAOB to conduct inspections and investigations of PCAOB-governed accounting firms in mainland China and Hong Kong. On December 15, 2022, the PCAOB announced that it was able to secure complete access to inspect and investigate PCAOB-registered public accounting firms headquartered in mainland China and Hong Kong completely in 2022. On December 29, 2022, the Consolidated Appropriations Act, 2023 (the “ CAA”) was signed into law by President Biden. The CAA, among other things, reduced the number of consecutive non-ins