Company: ATMCW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023265
Chunk: 43

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 43
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5110(e)(2).

6

Advisory
Services Agreement

The
Company engaged TenX Global Capital LP (“TenX”), a related party to the Company, as an advisor in connection with the Initial
Public Offering and business combination, to assist in hiring consultants and other services providers in connection with our Initial
Public Offering and the business combination, assist in the preparation of unaudited condensed financial statements and other relevant
services to commence trading including filing the necessary documents as part of the transaction. Further, TenX will assist in preparing
the Company for investor presentations, conferences for due diligence, deal structuring and term negotiations.

During
the period from September 15, 2021 (inception) through June 30, 2025, a cash fee of $200,000 has been incurred as deferred offering costs
for these services of which $160,000 has been paid by the Sponsor through December 31, 2022 and additional $40,000 was paid subsequently
through December 31, 2023.

Off-Balance
Sheet Arrangements; Commitments and Contractual Obligations

As
of June 30, 2025, we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K and did not have
any commitments or contractual obligations.

Critical
Accounting Policies And Estimates

The
preparation of unaudited condensed financial statements and related disclosures in conformity with GAAP requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date
of the financial statements, and income and expenses during the periods reported. Actual results could materially differ from those estimates.
We have identified below critical accounting policies.

Ordinary
Shares Subject to Possible Redemption

We
account for our ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”)
Topic 480 “Distinguishing Liabilities from Equity.” Ordinary shares subject to mandatory redemption is classified as a liability
instrument and is measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption
rights that is either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within
the Company’s control) is classified as temporary equity. At all other times, ordinary shares are classified as shareholders’
equity. The Company’s ordinary shares features certain redemption rights that are considered to be outside of the