Company: ATMCW
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001493152-25-024097
Chunk: 8

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 8
Chunk 8
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 claim
of any kind in or to monies held in the Trust Account.

Liquidity

As
of September 30, 2025, the Company had a cash balance of $1,281 and a working capital deficit of $3,941,880. The Company expects that
it will need additional capital to satisfy its liquidity needs beyond the net proceeds from the consummation of the IPO and the proceeds
held outside of the Trust Account for paying existing accounts payable, identifying and evaluating prospective business combination candidates,
performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to merge with
or acquire, and structuring, negotiating and consummating the Initial Business Combination. The Company has incurred and expects to continue
to incur significant professional costs to remain as a public traded company and to incur transaction costs in pursuit of a Business
Combination. In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards
Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,”
management believes that these conditions raise substantial doubt about the Company’s ability to continue as a going concern. In
addition, if the Company is unable to complete a Business Combination within the Combination Period, with the last extension termination
date on January 4, 2026, and such period is not extended  , there will be a liquidation and 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-8

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 September 30, 2025, 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 and an additional loan of $154,939 borrowed from HCYC (as defined below) to extend the business combination
period from November 4,