Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1612

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 1612
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 the expertise and
capabilities of our management team. Our efforts in identifying prospective target businesses will not be limited to a particular geographic
region, although we intend to focus on businesses in Asia.

Results of Operations

We have neither engaged in any operations nor generated
any revenues to date. Our only activities since inception to December 31, 2023, have been organizational activities and those necessary
to consummate the Initial Public Offering (“IPO”), described below, and the search for a business combination target. Following
our IPO, we did not generate any operating revenues until the completion of our initial business combination. We generate non-operating
income in the form of interest and dividend income after the IPO. We expect to incur increased expenses as 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