Company: PMVC
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075638
Chunk: 127

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 127
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 became eligible for quotation
on the Pink tier of OTC Markets Group, if market makers commit to making a market in the securities. We can provide no assurance that
trading in our securities will continue on the OTC Markets Group or otherwise. As a result of the delisting, we could face significant
material adverse consequences, including:

    ●
    a limited availability of market quotations for our securities;

    ●
    reduced liquidity with respect to our securities;

    ●
    a determination that our shares of common stock are “penny stock”, which will require brokers trading in our shares of common stock to adhere to more stringent rules, possibly resulting in a reduced level of trading activity in the secondary trading market for our shares of common stock;

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    ●
    a limited amount of news and analyst coverage for our company; and

    ●
    a decreased ability to issue additional securities or obtain additional financing in the future.

Currently our securities are not eligible for
proprietary broker-dealer quotations. All quotes will reflect unsolicited customer orders and, as a result, we expect any trading to involve
a higher risk of wider spreads, increased volatility, and price dislocations and a general illiquid trading environment. Proprietary broker-dealer
quotations may not commence until an initial review by a broker-dealer under the SEC’s Rule 15c2-11 which would enable brokers to
publish competing quotes and provide continuous market making. No assurance can be provided that a liquid trading market will develop
even if market makers begin proprietary quotations and thus we expect investors will experience difficulty in trading our securities.

The National Securities Markets Improvement Act
of 1996, which is a federal statute, prevents or preempts the states from regulating the sale of certain securities, which are referred
to as “covered securities.” Because they have been delisted, our securities would not be covered securities and we would be
subject to regulation in each state in which we offer our securities. This state level regulation introduces additional compliance requirements
for brokers to consider making markets in our securities and will further negatively impact any trading liquidity in our securities.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

On March 20, 2020, the Sponsor purchased 3,593,750
shares of Class B convertible common stock, the “Founder Shares”, for an aggregate purchase price of $25,000, or approximately
$0.007 per share. On August 3, 2020,