Company: ATMCW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023265
Chunk: 62

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 2
Chunk 62
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deficit if additional paid in capital equals to zero.

Net
Income (Loss) per Share

The
Company complies with accounting and disclosure requirements of FASB ASC 260, Earnings Per Share. The statements of operations include
a presentation of income (loss) per redeemable share and income (loss) per non-redeemable share following the two-class method of income
(loss) per share. In order to determine the net income (loss) attributable to both the redeemable shares and non-redeemable shares, the
Company first considered the undistributed income (loss) allocable to both the redeemable shares and non-redeemable shares and the undistributed
income (loss) is calculated using the total net income (loss) less any dividends paid. The Company then allocated the undistributed income
(loss) ratably based on the weighted average number of shares outstanding between the redeemable and non-redeemable shares. Any remeasurement
of the accretion to redemption value of the ordinary shares subject to possible redemption was considered to be dividends paid to the
public shareholders.

Deferred
Offering Costs

Deferred
offering costs consist of underwriting, legal, accounting, and other expenses incurred through the balance sheet date that were directly
related to our IPO and that were charged to shareholders’ equity upon the completion of our IPO on January 4, 2023. As of June
30, 2025 and December 31, 2024, there were no deferred offering costs.

7

Item
3. Quantitative and Qualitative Disclosures About Market Risk

We
are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information otherwise
required under this item.

Item
4. Controls and Procedures

Evaluation
of Disclosure Controls and Procedures

As required by Rule 13a-15(b) and Rule 15d-15(b) under the Exchange Act, our management, including our Chief Executive
Officer and our Chief Financial Officer evaluated, as of June 30, 2025, the effectiveness of our disclosure controls and procedures as
defined in Exchange Act Rule 13a-15(e) and Rule 15d-15(e). Based on that evaluation, our Chief Executive Officer and Chief Financial Officer
concluded that our disclosure controls and procedures were not effective as of June 30, 2025, due to the material weakness in our internal
control over