Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 330

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 330
---
 expense of $15,514, non-cash deferred tax expense of $14,915 and non-cash right-of-use assets amortization of $118,820; (ii) changes in operating assets and liabilities of $258,373. The changes in operating assets and liabilities mainly include: (i) an increase of $499,451 in accounts receivable for our insurance brokerage service from insurance companies, i.e. customers, which is caused by which is caused by the increase of sales of policies around the end of the reporting period; (ii) an decrease of $122,780 in lease liabilities; and (iii) an increase of $344,517 in accounts payables for client referral services to external referrers, i.e. our suppliers, which is primarily attributable to a higher volume of referrals in March 2025 compared to the prior year, resulting in a corresponding rise in commission payables.

Net cash provided by operating activities was $117,066 for the year ended March 31, 2024, which was primarily due to (i) our net income of $18,206, adjusted for adding back non-cash depreciation expense of $11,219, non-cash deferred tax expense of $37,227 and non-cash right-of-use assets amortization of $99,827; (ii) changes in operating assets and liabilities of ($49,413). The changes in operating assets and liabilities mainly include: (i) an increase of $289,467 in accounts receivable for our insurance brokerage service from insurance companies, i.e. customers, which is caused by our increase of net revenue; (ii) an increase of $186,644 in lease liabilities; (iii) a decrease of $283,944 in right-of-use assets; and (iv) a decrease of $205,622 in accounts payables for client referral services to external referrers, i.e. our suppliers, which is due the company shortened its payment frequency to suppliers to once every two weeks during the year, causing the lower accounts payable level.

Investing Activities

Cash used in investing activities was $9,986 for the fiscal year ended March 31, 2025, compared to cash used in investing activities of $50,168 for the same period of 2024.

Net cash used in each fiscal year primarily included the purchase of equipment.

Financing Activities

Net cash provided by financing activities amounted to $ 619,955 for the year ended March 31, 2025, attributable to the