Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 714

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 714
---
    Prepaid expenses 
     29,596  
     444,374 
  
    Accrued expenses and accounts payable 
     (1,461,825) 
     239,176 
  
    Net cash used in operating activities 
     (949,691) 
     (708,533)

    Cash Flows from Investing Activities: 

    Investment of cash into Trust Account 
     (784,088) 
     (1,120,000)
  
    Cash withdrawn from Trust Account in connection with redemption 
     49,900,380  
     167,831,206 
  
    Net cash provided by investing activities 
     49,116,292  
     166,711,206 

    Cash Flows from Financing Activities: 

    Advances from related party 
     810,000  
     — 
  
    Proceeds from convertible promissory notes - sponsor 
     300,000  
     613,207 
  
    Proceeds from convertible promissory note - related party 
     —  
     1,650,941 
  
    Payment of offering costs 
     —  
     (70,000)
  
    Redemption of ordinary shares 
     (49,900,380) 
     (167,831,206)
  
    Net cash used in financing activities 
     (48,790,380) 
     (165,637,058)

    Net Change in Cash 
     (623,779) 
     365,615 
  
    Cash – Beginning of year 
     684,816  
     319,201 
  
    Cash – End of year 
    $61,037  
    $684,816 

The
accompanying notes are an integral part of these financial statements.

F-6

VALUENCE
MERGER CORP. I

NOTES
TO FINANCIAL STATEMENTS

DECEMBER
31, 2024

NOTE
1 - DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Valuence
Merger Corp. I (the “Company”) is a blank check company incorporated as a Cayman Islands exempted company on August 27, 2021.
The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses or entities