Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 1339

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 10
Chunk 1339
---
’s
financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board
(United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal
securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits,
we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion
on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our
audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error
or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding
the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant
estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits
provide a reasonable basis for our opinion.

/s/
WithumSmith+Brown, PC

We
have served as the Company’s auditor since 2021.

New
York, New York

March
31, 2025

PCAOB
ID Number 100

F-2

VALUENCE
MERGER CORP. I

BALANCE
SHEETS

    2024  
    2023 

    December 31, 

    2024  
    2023 

    ASSETS 

    Current assets 

    Cash 
    $61,037  
    $684,816 
  
    Prepaid expenses 
     48,474  
     78,070 
  
    Total current assets 
     109,511  
     762,886 

    Cash and investments held in Trust Account 
     22,206,637  
     69,402,338 
  
    TOTAL ASSETS 
    $22,316,148  
    $70