Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 470

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 470
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,872) 
     (11,894,322)
  
    TOTAL SHAREHOLDERS’ DEFICIT 
     (12,335,322) 
     (11,893,772)
  
    TOTAL LIABILITIES, CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION, AND SHAREHOLDERS’ DEFICIT 
    $22,316,148  
    $70,165,224 

The
accompanying notes are an integral part of these financial statements.

F-3

VALUENCE
MERGER CORP. I

STATEMENTS
OF OPERATIONS

    2024  
    2023 

    For the Year Ended December 31, 

    2024  
    2023 

    General and administrative expenses 
    $1,123,794  
    $1,392,083 
  
    Recoveries of previously incurred general and administrative expenses 
     (1,606,332) 
     — 
  
    Income (loss) from operations 
     482,538 
     (1,392,083)

    Other income: 

    Interest earned on investments and cash held in Trust Account 
     1,920,591  
     6,163,554 
  
    Total other income 
     1,920,591  
     6,163,554 

    Net income 
    $2,403,129  
    $4,771,471 

    Weighted average shares outstanding of Class A redeemable ordinary shares 
     3,718,651  
     12,833,415 

    Basic and diluted net income per common share, Class A redeemable ordinary shares 
    $0.26  
    $0.26 

    Weighted average shares outstanding of Class A and Class B non-redeemable ordinary shares 
     5,502,490  
     5,502,490 

    Basic and diluted net income per common share, Class A and Class B non-redeemable ordinary shares 
    $0.26  
    $0.26 

The
accompanying notes are an integral part of these financial statements.

F-4

VALUENCE
MERGER CORP. I

STATEMENTS
OF CHANGES IN SHAREHOLDERS’ DEFICIT

FOR
THE YEARS ENDED DECEMBER