AlphaVest Acquisition p(ATMV) - 2025 Q1 - Quarterly Report

Financial Performance - As of March 31, 2025, the company reported a net income of $8,697, consisting of interest earned on marketable securities and bank interest income of$187,180, offset by formation and operating costs of $178,483[101]. - For the three months ended March 31, 2024, the company had a net income of$349,241, with bank interest income of $678,480, formation and operating costs of$236,926, and an unrealized loss on investments of $92,316[102]. Capital Raising - The company raised gross proceeds of$60,000,000 from the Initial Public Offering of 6,000,000 Units at $10.00 per Unit, along with an additional$3,900,000 from the sale of 390,000 Private Units[103]. - Following the full exercise of the over-allotment option, the total amount placed in the trust account was $70,380,000, which may be used to complete the initial business combination[105]. Assets and Liabilities - As of March 31, 2025, the company had marketable securities in the trust account amounting to$18,407,880, consisting of U.S. government securities with a maturity of 185 days or less[106]. - The company reported a working capital deficit of $2,089,118 as of March 31, 2025, raising substantial doubt about its ability to continue as a going concern[110]. - The company has no off-balance sheet financing arrangements or long-term liabilities as of March 31, 2025[111]. Business Operations - The company has not generated any operating revenues to date and will not do so until the completion of its initial business combination[99]. - The company expects to incur significant costs related to being a public company and for due diligence expenses in connection with the search for a business combination target[100]. - The company has engaged EBC as an advisor for its business combination, agreeing to pay a service fee of 3.5% of the gross proceeds of the IPO upon consummation of the initial business combination[115].