Company: PMVC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043278
Chunk: 92

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 92
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 business opportunity with which to complete a transaction. We do not expect to generate
any operating revenues until after the completion of a transaction. We generate non-operating income in the form of interest income on
marketable securities held. We incur expenses as a result of being a public company (for legal, financial reporting, accounting and auditing
compliance), as well as for due diligence expenses.

For the three months ended March 31, 2025, we
had a net loss of $47,314, which consists of interest income of $10,870, offset by general and administrative expenses of $54,714, franchise
tax expense of $1,500, and provision for income taxes of $1,970.

For the three months ended March 31, 2024, we
had a net loss of $77,383, which consists of interest income of $13,199, offset by general and administrative expenses of $54,777, franchise
tax expense of $5,286, and provision for income taxes of $30,519.

Liquidity and Capital Resources

To the extent that our capital stock or debt is
used, in whole or in part, as consideration to complete a transaction, the remaining cash will be used as working capital to finance operations,
make other acquisitions and pursue our growth strategies.

As of March 31, 2025, we had cash and cash equivalents
of $1,103,741. We intend to use these funds primarily to identify and evaluate potential business opportunities, perform business due
diligence on prospective business opportunities, travel to and from the offices, plants or similar locations associated with prospective
business opportunities, review corporate documents and material agreements related to business opportunities, and structure, negotiate
and complete a transaction.

For the three months ended March 31, 2025, cash
used in operating activities was $10,045. Net loss of $47,314 was affected by net increase of changes in operating assets and liabilities
of $37,269.

For the three months ended March 31, 2024, cash
provided by operating activities was $98,797. Net loss of $77,383 was affected by net increase of changes in operating assets and liabilities
of $176,180.

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