Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 310

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 310
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— 

    Net income 
     —  
     —  
     —  
     —  
     —  
     2,403,129  
     2,403,129 

    Balance as of December 31, 2024 
     5,502,488  
    $550  
     2  
    $—  
    $—  
    $(12,335,872) 
    $(12,335,322)
  
    Balance 
     5,502,488  
    $550  
     2  
    $—  
    $—  
    $(12,335,872) 
    $(12,335,322)

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

F-5

VALUENCE
MERGER CORP. I

STATEMENTS
OF CASH FLOWS

    2024  
    2023 

    For the Year Ended December 31, 

    2024  
    2023 
  
    Cash Flows from Operating Activities: 

    Net income 
    $2,403,129  
    $4,771,471 
  
    Adjustments to reconcile net income to net cash used in operating activities: 

    Interest earned on cash and investments held in Trust Account 
     (1,920,591) 
     (6,163,554)
  
    Changes in operating assets and liabilities: 

    Prepaid expenses 
     29,596  
     444,374 
  
    Accrued expenses and accounts payable 
     (1,461,825) 
     239,176 
  
    Net cash used in operating activities 
     (949,691) 
     (708,533)

    Cash Flows from Investing Activities: 

    Investment of cash into Trust Account 
     (784,088) 
     (1,120,000)
  
    Cash withdrawn from Trust Account in connection with redemption 
     49,900,380  
     167,831,206 
  
    Net cash provided by investing activities 
     49,116,292  
     166,711,206 

    Cash Flows from Financing Activities: 

    Advances from related party 
     810,000  
     —