Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1793

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 1793
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 as to how the Statement of Protocol will
be implemented and whether the applicable parties will comply with the framework.

The
lack of access to the PCAOB inspection in certain emerging markets prevents the PCAOB from fully evaluating audits and quality control
procedures of the auditors based in those emerging markets. As a result, the investors may be deprived of the benefits of such PCAOB
inspections. The inability of the PCAOB to conduct inspections of auditors in certain emerging markets makes it more difficult to evaluate
the effectiveness of these accounting firms’ audit procedures or quality control procedures as compared to auditors outside of
those emerging markets that are subject to the PCAOB inspections, which could cause existing and potential investors in our shares to
lose confidence in our audit procedures and reported financial information and the quality of our financial statements.

Our
auditor, the independent registered public accounting firm that issues the audit report included elsewhere in this Form 10-K, as an auditor
of companies that are traded publicly in the United States and a firm registered with the PCAOB, is subject to laws in the United States
pursuant to which the PCAOB conducts regular inspections to assess our auditor’s compliance with the applicable professional standards.
Our auditor is subject to inspection by the PCAOB on a regular basis with the last inspection report dated June 28, 2021. As such, as
of the date of this Form 10-K, our auditor is not subject to the determinations announced by the PCAOB on December 16, 2021.

While
the Company’s auditor is based in the U.S. and is registered with the PCAOB and subject to PCAOB inspection, it may later be determined
that the PCAOB is unable to inspect or investigate completely the Company’s auditor because of a position taken by an authority
in a foreign jurisdiction. In addition, if we effect our initial business combination with a business located in the PRC and our new
auditor is located in the PRC, a jurisdiction where the PCAOB has been unable to conduct inspections without the approval of the Chinese
authorities, the work of our new auditor as it relates to those operations may not inspected by the PCAOB. In either case, such lack
of inspection could cause trading in the Company’s securities to be prohibited under the HFCAA, and ultimately result in a determination
by a securities exchange to delist the Company’s securities. Furthermore, the recent developments would add uncertainties to our
offering and we cannot assure you whether Nas