Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 425

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 425
---
 we consummate our initial business combination. We have not selected any specific business combination target and
we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination
target with respect to an initial business combination with us.

While
we may pursue an acquisition or a business combination target in any business or industry, we intend to focus our search on a rapidly-growing
and large-scaled target, including but not limited to, targets in the following space: fintech, alternative and clean energy, biotech,
logistics, industrial software, artificial intelligence (“AI”) and cloud industry, that can benefit from the expertise and
capabilities of our management team. Our efforts in identifying prospective target businesses will not be limited to a particular geographic
region, although we intend to focus on businesses in Asia.

Results of Operations

We have neither engaged in any operations nor generated
any revenues to date. Our only activities since inception to December 31, 2023, have been organizational activities and those necessary
to consummate the Initial Public Offering (“IPO”), described below, and the search for a business combination target. Following
our IPO, we did not generate any operating revenues until the completion of our initial business combination. We generate non-operating
income in the form of interest and dividend income after the IPO. We expect to incur increased expenses as a result of being a public
company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the year ended December 31, 2024, we had a net
income of $1,498,591, which consists of income earned on Trust Account of $2,782,552 offset by loss of $1,283,961 derived from formation
and operating costs.

For the year ended December 31, 2023, we had a net
income of $1,941,118, which consists of income earned on Trust Account of $3,130,199 offset by loss of $1,189,081 derived from formation
and operating costs.

Liquidity and Capital Resources

On January 4, 2023, we consummated our IPO of 6,000,000
units (the “Units”), at $10.00 per Unit, generating gross proceeds of $60,000,000. Simultaneously with the closing of our
IPO, we consummated the sale of 370,500 Private Placement Units at a price