Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1459

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 1459
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 subsequent dissolution. As a result, management
has determined that such additional condition also raises substantial doubt about the Company’s ability to continue as a going
concern. The financial statements do not include any adjustments that might result from the outcome of the uncertainty.

     F-10 

In
addition, in order to finance transaction costs in connection with a Business Combination, the Company’s Sponsor or an affiliate
of the Sponsor or certain of the Company’s officers and directors may, but are not obligated to, loan funds to the Company as may
be required but there is no guarantee that the Company will receive such funds. As on December 31, 2024, there was an amount of $1,262,500
outstanding as loan against  promissory notes issued to the Sponsor for extension of the period of business combination from October
4, 2023 to November 4, 2024. On November 4, 2024, December 4, 2024, and January 4, 2025, the Company entered into monthly extension letters
with the sponsors to extend the timeline of the business combination from November 4, 2024 to December 4, 2024, from December 4, 2024
to January 4, 2025, and from January 4, 2025 to February 4, 2025, respectively. The November and December extension funds were deposited
into the trust account following December 31, 2024, and as a result, did not accrue interest income during that period. The November
and December extension payments were not included in the common stock subject to possible redemption figures as of December 31, 2024.
Pursuant to the extension amendment approved by the shareholders by special resolution at the meeting on December 28, 2023, the Company
has adopted the Company’s Third Amended and Restated Memorandum and Articles of Association, reflecting the extension of the date
by which the Company must consummate a business combination from January 4, 2024, (the “Termination Date”) up to ten (10)
times, with the first extension comprised of three months, and the subsequent nine (9) extensions comprised of one month each up to January
4, 2025, by providing five days’ advance notice to the trustee prior to the applicable Termination Date, or extended date, and
depositing into the trust account (the “Trust Account”) $55