Company: ATMCW
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011749
Chunk: 22

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 22
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 an advisor in connection with the Initial Public Offering and business combination, to assist in hiring
consultants and other services providers in connection with our Initial Public Offering and the business combination, assist in the preparation
of financial statements and other relevant services to commence trading including filing the necessary documents as part of the transaction.
Further, TenX will assist in preparing the Company for investor presentations, conferences for due diligence, deal structuring and term
negotiations.

During the period from September 15, 2021 (inception)
through March 31, 2025, a cash fee of $200,000 has been incurred as deferred offering costs for these services of which $160,000 has been
paid by the Sponsor through December 31, 2022 and additional $40,000 was paid subsequently through December 31, 2023.

Administration fee

Commencing on the effective date of the registration
statement, an affiliate of the Sponsor shall be allowed to charge the Company an allocable share of its overhead, up to $10,000 per month
up to the close of the business combination, to compensate it for the Company’s use of its offices, utilities and personnel. An
administration fee of $30,000 was recorded for both the quarters ended March 31, 2025 and 2024. As of March 31, 2025 and December 31, 2024, administration fees of $150,000 and $120,000, respectively, were included
in Due to Related Parties and remained outstanding.

    F-16

Note 6 - Commitments and Contingencies

Registration Rights

The holders of the Founder Shares, Private Units,
securities underlying the Unit Purchase Option (“UPO”), and units that may be issued upon conversion of Working Capital Loans
(and any ordinary shares issuable upon the exercise of the Private Units) will be entitled to registration rights pursuant to a registration
rights agreement to be signed prior to or on the effective date of IPO requiring the Company to register such securities for resale. The
holders of these securities will be entitled to make up to three demands, excluding short form registration demands, that the Company
register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration
statements filed subsequent to completion of a business combination and rights to require the Company to register for resale such securities
pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that the Company will not be