Company: VMCWF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023470
Chunk: 97

Company: Valuence Merger Corp. I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 97
---
. All activity through June 30, 2025 relates to our formation. the IPO, and our
search for an initial Business Combination. We will not generate any operating revenues until after the completion of a Business Combination,
at the earliest. We will generate non-operating income in the form of interest income from the proceeds derived from the IPO placed in
the Trust Account.

For
the three months ended June 30, 2025, we had a net income of $58,716, which consisted of interest earned on investments held in the Trust
Account of $185,332, offset by operating costs of $126,616.

For
the three months ended June 30, 2025, we had a net income of $83,692, which consisted of interest earned on investments held in the Trust
Account of $366,679, offset by operating costs of $282,987.

For
the three months ended June 30, 2024, we had a net income of $168,692, which consisted of interest earned on investments held in the
Trust Account of $634,492, offset by general and administrative expenses of $465,800.

For
the six months ended June 30, 2024, we had a net income of $757,373, which consisted of interest earned on investments held in the Trust
Account of $1,480,642, offset by general and administrative expenses of $723,269.

Liquidity
and Capital Resources; Going Concern Consideration

As
of June 30, 2025, we had cash of $92,661 and a working capital deficit of $4,652,885.

In
connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standards Board
(“FASB”) Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s
Ability to Continue as a Going Concern,” the Company has until up to March 3, 2026 to consummate a Business Combination or liquidate,
provided that we cause to be deposited the New Contributions in connection with each monthly extension of the Combination Period. It
is uncertain that the Company will be able to consummate a Business Combination by this time. If a Business Combination is not consummated
by this date, there will be a mandatory liquidation of the Trust Account and potential subsequent dissolution of the Company. Management
has determined that the liquidity condition and mandatory liquidation,