Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1117

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 10
Chunk 1117
---
 has opted out of using the extended transition period difficult or impossible because of
the potential differences in accounting standards used.

     F-12 

Use
of Estimates

The
preparation of financial statement in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Accordingly, the actual results could
differ significantly from those estimates.

Cash
and Cash Equivalents

The
Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had no cash equivalents
as of December 31, 2024 and December 31, 2023.

Concentration
of Credit Risk

Financial
instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution
which, at times may exceed the Federal depository insurance coverage of $250,000. On December 31, 2024, the Company did not experience
losses on this account and management believes the Company is not exposed to significant risks on such account.

Offering
Costs

The
offering costs were $4,892,699 consisting principally of underwriting, legal, accounting and other expenses incurred through the balance
sheet date that are related to the IPO and are charged to shareholders’ equity upon the completion of the IPO. The Company complies
with the requirements of the ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A - “Expenses of Offering”.
The Company allocates offering costs between the Public Shares (as defined below in Note 3), Public Warrants (as defined below in Note
3) and Public Rights (as defined below in Note 3) based on the relative fair values of the Public Shares, Public Warrants and Public
Rights. Accordingly, $4,770,382 was allocated to Public Shares and charged to temporary equity, and $122,317 was allocated to Public
Warrants and Public Rights and charged to shareholders’ equity.

Investment
Held in Trust Account

The
Company’s portfolio of investment held in the Trust Account is mainly comprised of investments in U.S. government securities and
generally have a readily determinable fair value, or a combination thereof. Gains and losses resulting from the change in fair value
of