Company: PMVC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001213900-25-107610
Chunk: 307

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part II, Item 1
Chunk 307
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 of calculating the excise tax, repurchasing corporations are permitted to net the fair market value of certain new stock
issuances against the fair market value of stock repurchases during the same taxable year. In addition, certain exceptions apply to the
excise tax. The U.S. Department of Treasury has been given authority to provide regulations and other guidance to carry out, and prevent
the abuse or avoidance of, the excise tax. The IRA applies only to repurchases that occur after December 31, 2022.

Therefore,
any redemption or other repurchase that occurs after December 31, 2022, may be subject to the excise tax. Whether and to what extent
we would be subject to the excise tax would depend on a number of factors, including (i) the fair market value of the redemptions and,
(ii) the nature and amount of the equity, and (iii) the content of regulations and other guidance from the U.S. Department of the Treasury.
In addition, because the excise tax would be payable by the Company, and not by the redeeming holder, the mechanics of any required payment
of the excise tax have not been determined. The foregoing could cause a reduction in the cash available on hand to identify a potential
business opportunity and/or complete a transaction.

We
filed a Form 25 with the SEC which became effective October 21, 2022, to voluntarily delist our common stock and public warrants from
the NYSE and our securities are now available for limited quotation in the over-the-counter market and it is expected that any trading
will be limited and sporadic.

Our
delisting from the NYSE took effect on October 21, 2022; initially our shares of common stock and public warrants were trading on the
NYSE and thereafter 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