Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1805

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 1805
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 a result of being a public
company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the year ended December 31, 2024, we had a net
income of $1,498,591, which consists of income earned on Trust Account of $2,782,552 offset by loss of $1,283,961 derived from formation
and operating costs.

For the year ended December 31, 2023, we had a net
income of $1,941,118, which consists of income earned on Trust Account of $3,130,199 offset by loss of $1,189,081 derived from formation
and operating costs.

Liquidity and Capital Resources

On January 4, 2023, we consummated our IPO of 6,000,000
units (the “Units”), at $10.00 per Unit, generating gross proceeds of $60,000,000. Simultaneously with the closing of our
IPO, we consummated the sale of 370,500 Private Placement Units at a price of $10.00 per Private Placement Unit in a private placement
to the Sponsor, generating total gross proceeds of $3,705,000.

On January 6, 2023, and effective January 9, 2023,
the underwriters in our IPO purchased an additional 900,000 Units to exercise its over-allotment option in full at a purchase price of
$10.00 per Unit, generating gross proceeds of $9,000,000. Simultaneously with the closing of the full exercise of the over-allotment option,
we completed the private sale of an aggregate of 38,700 Private Placement Units, at a purchase price of $10.00 per Private Placement Unit,
generating gross proceeds of $387,000. Transaction costs amounted to $4,892,699 consisting of $1,612,500 of underwriting discount, $2,415,000
of deferred underwriting commission and $865,199 of other offering costs.

Following the closing of our IPO and the sale of over-allotment
units, an aggregate of $70,242,000 ($10.18 per Unit) from the net proceeds and the sale of the Private Placement Units was held in a Trust
Account (“Trust Account”). As of December 31, 2024, we had marketable securities held in the Trust Account of $15,240