Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 5

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 5
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isting risk under the Holding Foreign Companies Accountable Act (the “ HFCAA”). Pursuant to the HFCAA and related regulations, if PubCo has filed an audit report issued by a registered public accounting firm that the Public Company Accounting Oversight Board (the “ PCAOB”) has determined that it is unable to inspect and investigate completely, the Securities and Exchange Commission (the “ SEC”) will identify PubCo as a “Commission-identified Issuer,” and the trading of PubCo’s securities on any U.S. national securities exchanges, as well as any over-the-counter trading in the United States, will be prohibited if following the completion of the Business Combination, PubCo is identified as a Commission-identified Issuer for two consecutive years.

In August 2022, the PCAOB, the China Securities Regulatory Commission (the “ CSRC”) and the Ministry of Finance of the PRC signed a Statement of Protocol (the “ Statement of Protocol”), which establishes a specific and accountable framework for the PCAOB to conduct inspections and investigations of PCAOB-governed accounting firms in mainland China and Hong Kong. On December 15, 2022, the PCAOB announced that it was able to secure complete access to inspect and investigate PCAOB-registered public accounting firms headquartered in mainland China and Hong Kong completely in 2022. On December 29, 2022, the Consolidated Appropriations Act, 2023 (the “ CAA”) was signed into law by President Biden. The CAA, among other things, reduced the number of consecutive non-inspection years required for triggering the prohibitions under the HFCAA as it was originally passed from three years to two, and thus, reduced the time before PubCo’s securities may be prohibited from trading or delisted. The PCAOB vacated its previous 2021 determinations that the PCAOB was unable to inspect or investigate completely registered public accounting firms headquartered in mainland China and Hong Kong. However, whether the PCAOB will continue to be able to satisfactorily conduct inspections of PCAOB-registered public accounting firms headquartered in mainland China and Hong Kong is subject to uncertainties and depends on a number of factors out of PubCo and its auditor’s control.

HCYC’s auditor, Simon & Edward, LLP, is an independent registered public accounting firm in the United States located in Los Angeles, California. The audit report included in this prospectus was issued by Simon & Edward, LLP, who are registered with the PCAOB and can be inspected by the PCAOB. We have no intention of dismissing