Company: ATMCW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011749
Chunk: 13

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 13
---
 that when
a standard is issued or revised and it has different application dates for public or private companies, we, as an emerging growth company,
can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of our
financial statement with another public company which is neither an emerging growth company nor an emerging growth company which has opted
out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

    F-10

Use of Estimates

The preparation of financial statement in conformity
with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses
during the reporting period. Accordingly, the actual results could differ significantly from those estimates.

Cash and Cash Equivalents

The Company considers all short-term investments with
an original maturity of three months or less when purchased to be cash equivalents. The Company had no cash equivalents as of March 31,
2025 and December 31, 2024.

Concentration of Credit Risk

Financial instruments that potentially subject the
Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository
insurance coverage of $250,000. On March 31, 2025, the Company did not experience losses on this account and management believes the Company
is not exposed to significant risks on such account.

Offering Costs

The offering costs were $4,892,699 consisting principally
of underwriting, legal, accounting and other expenses incurred through the balance sheet date that are related to the IPO and are charged
to shareholders’ equity upon the completion of the IPO. The Company complies with the requirements of the ASC 340-10-S99-1 and SEC
Staff Accounting Bulletin (“SAB”) Topic 5A - “Expenses of Offering”. The Company allocates offering costs between
the Public Shares (as defined below in Note 3), Public Warrants (as defined below in Note 3) and Public Rights (as defined below in Note
3) based on the relative fair values of the Public Shares, Public Warrants and Public Rights. Accordingly, $4,770,382 was allocated to
Public Shares and charged to temporary equity, and $122,317 was allocated to Public Warrants and Public Rights and charged to shareholders’
equity.