Company: PMVC
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003340
Chunk: 181

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1B
Chunk 181
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, negotiate
and complete a transaction.

For the year ended December 31, 2024, cash provided
by operating activities was $41,156. Net loss of $156,380 was affected by a net increase of changes in operating assets and liabilities
of $197,536.

For the year ended December 31, 2023, cash used
in operating activities was $76,527. Net loss of $108,141 was affected by a change in fair value of derivative warrant liabilities of
$146,020, and a net increase of changes in operating assets and liabilities of $177,634.

In order to fund working capital deficiencies
or finance transaction costs in connection with a business opportunity, the Sponsor, or certain of our officers and directors or their
affiliates may, but are not obligated to, loan us funds as may be required. If we complete a transaction, we would repay such loaned amounts.
In the event that a transaction does not close, we may use a portion of the working capital to repay such loaned amounts. Up to $1,500,000
of such loans may be convertible into warrants identical to the Private Warrants, at a price of $1.00 per warrant at the option of the
lender.

We do not believe we will need to raise additional
funds in order to meet the expenditures required for operating our business. However, if our estimate of the costs of identifying a business
opportunity, undertaking in-depth due diligence and negotiating a transaction are less than the actual amount necessary to do so, we may
have insufficient funds available to operate our business prior to a transaction. Moreover, we may need to obtain additional financing
to complete a transaction, in which case we may issue additional equity securities or incur debt in connection with such transaction.
In addition, following a transaction, if cash on hand is insufficient, we may need to obtain additional financing in order to meet our
obligations.

Off-Balance Sheet Financing Arrangements

We did not have any off-balance sheet arrangements
as of December 31, 2024. 

Contractual Obligations

We do not have any long-term debt, capital lease
obligations, operating lease obligations or long-term liabilities, other than an agreement to pay an affiliate of the Sponsor a monthly
fee of $10,000 for office space, utilities and secretarial and administrative support. We began incurring these fees on September 24,
2020 and will continue to