Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1722

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 1722
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 Nasdaq documentation from its transfer agent, or independent source, that demonstrates that its Ordinary Shares, Warrants,
Units and Rights have a minimum of 400 Total Holders. In the event the Company does not satisfy the terms, Nasdaq will provide written
notification that its securities will be delisted. At that time, the Company may appeal Nasdaq’s determination to a Nasdaq Listing
Qualifications Panel.

If
NASDAQ delists our securities from trading on its exchange and we are not able to list our securities on another national securities
exchange, we expect our securities could be quoted on an over-the-counter market. If this were to occur, we could face significant material
adverse consequences, including:

    ●
    a
    limited availability of market quotations for our securities;

    ●
    reduced
    liquidity for our securities;

    ●
    a
    determination that our Ordinary Shares is a “penny stock” which will require brokers trading in our Ordinary Shares to
    adhere to more stringent rules and possibly result in a reduced level of trading activity in the secondary trading market for our
    securities;

    ●
    a
    limited amount of news and analyst coverage; and

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

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 we expect that our Units and eventually
our Ordinary Shares, Warrants and Rights will be listed on NASDAQ, our Units, Ordinary Shares, Warrants and Rights will be covered securities.
Although the states are pre-empted from regulating the sale of our securities, the federal statute does allow the states to investigate
companies if there is a suspicion of fraud, and, if there is a finding of fraudulent activity, then the states can regulate or bar the
sale of covered securities in a particular case. While we are not aware of a state having used these powers to prohibit or restrict the
sale of securities issued by blank check companies, other than the State of Idaho, certain state securities regulators view blank check
companies unfavorably and might use these powers, or threaten to use these powers, to hinder the sale of securities of blank check companies
in their states. Further, if we were no longer listed on NASDAQ, our securities would not be covered securities and we would be subject
to regulation