Company: ATMCW
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001493152-25-024097
Chunk: 66

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 2
Chunk 66
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,
use, or disposition of the Company’s assets that could have a material effect on the financial statements.

Because
of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of
any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions,
or that the degree of compliance with the policies or procedures may deteriorate.

Our
management, including our Chief Executive Officer and Chief Financial Officer, has conducted an assessment regarding the effectiveness
of our internal control over financial reporting as of September 30, 2025, based on the framework established in Internal Control - Integrated
Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on our assessment under the criteria
described above, management has concluded that our internal control over financial reporting was not effective as of September 30, 2025, due to the material weakness in our internal control over financial reporting
related to insufficient review of related party transactions. As a result, we performed additional analysis as deemed necessary
to ensure that our financial statements were prepared in accordance with U.S. generally accepted accounting principles. Accordingly, management
believes that the financial statements included in this Form 10-Q present fairly in all material respects our financial position,
results of operations and cash flows for the period presented. Management intends to continue implement remediation steps to improve our
disclosure controls and procedures and our internal control over financial reporting. Specifically, we intend to expand and improve our
review process for related party transactions and ensure that communication with related parties is sufficient to ensure completeness
of related party transactions.

Changes
in Internal Control over Financial Reporting

There
were no changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange
Act) during the most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal
control over financial reporting.

8

PART
II - OTHER INFORMATION

Item
1. Legal Proceedings

To
the knowledge of our management, there is no material litigation, arbitration, bankruptcy, receivership, governmental proceeding or other
proceeding currently pending against us or any members of our management team in their capacity as such.

Item
1A. Risk Factors

As
of the date of this Report, there have been no material changes to the risk factors disclosed in our Annual