Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1056

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 9C
Chunk 1056
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 possible redemption are presented at redemption value of $11.41 per share as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheets. The Company
recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal
the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares
are affected by charges against additional paid in capital and accumulated deficit. The Company allocates gross proceeds between the
Public Shares, Public Warrants and Public Rights based on the relative fair values of the Public Shares, Public Warrants and Public Rights.

At
December 31, 2024, the ordinary shares reflected in the balance sheets are reconciled in the following table:

  Schedule of Subject to Possible Redemption 

    Gross proceeds 
    $69,000,000 
  
    Less: 

    Proceeds allocated to Public Rights 
     (621,000)
  
    Proceeds allocated to Public Warrants 
     (1,104,000)
  
    Allocation of offering costs related to redeemable
    shares 
     (4,770,382)
  
    Accretion of carrying value to redemption value 
     7,737,382 
  
    Redemption of public shares 
     (62,154,467)

    Subsequent measurement
    of ordinary shares subject to possible redemption (income earned on trust account) and extension deposit 
     3,820,199 
  
    Ordinary shares subject
    to possible redemption - December 31, 2023 
    $74,062,199 
  
    Redemption of public shares 
     (62,154,467)
  
    Subsequent measurement
    of ordinary shares subject to possible redemption (income earned on trust account) and extension deposit 
     3,332,552 
  
    Ordinary
    shares subject to possible redemption – December 31, 2024 
    $15,240,284 

     F-15 

Income
Taxes

The
Company follows the asset and liability method of accounting for income taxes under ASC 740, “Income Taxes.” Deferred
tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial
statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are
measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are