Financial Performance - For the three months ended March 31, 2024, the company reported a net income of $349,241, which includes interest income of $678,480, offset by formation and operating costs of $236,926 and an unrealized loss of $92,316 on investments [82]. - The company has not generated any operating revenues to date and does not expect to do so until after completing its initial business combination [81]. - There is substantial doubt about the company's ability to continue as a going concern within one year after the issuance of the financial statements [89]. Assets and Securities - As of March 31, 2024, the company had marketable securities in the trust account amounting to $51,466,768, which includes $4,204,704 of interest income [86]. - As of March 31, 2024, the company had cash of $13,791, which is intended for identifying and evaluating target businesses [86]. - The company has no off-balance sheet financing arrangements as of March 31, 2024 [92]. Initial Public Offering (IPO) - The company raised gross proceeds of $60,000,000 from its Initial Public Offering (IPO) by selling 6,000,000 Units at $10.00 per Unit [83]. - Following the full exercise of the over-allotment option, the total amount placed in the trust account reached $70,380,000, equating to $10.20 per Unit [85]. Costs and Expenses - The company has significant costs associated with being a public entity and anticipates increased expenses related to legal, financial reporting, and due diligence [81]. - 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 [102].

Financial Overview - The Company generated gross proceeds of $60,000,000 from its Initial Public Offering (IPO) by selling 6,000,000 units at $10.00 per unit[17]. - Following the IPO, approximately $70,380,000 was deposited into a trust account, with $550,000 allocated for fees and expenses, and $650,000 available for working capital[19]. - As of December 21, 2023, approximately $23,282,935 was redeemed by shareholders, leaving approximately $50,608,334 in the trust account[24]. - The Company has issued a total of 1,725,000 founder shares for an aggregate purchase price of $25,000, representing 20% of the issued shares post-IPO[15]. Business Combination Plans - The Company has extended the deadline to complete a business combination from December 22, 2023, to December 22, 2024, allowing for up to ten extensions[23]. - A business combination agreement was entered into with Wanshun Technology Industrial Group Limited, but was terminated on March 18, 2024[20][21]. - The initial business combination must involve target businesses with an aggregate fair market value of at least 80% of the assets held in the trust account[35]. - The company has up to 15 months from the IPO closing to complete the initial business combination, extendable up to 24 months with specific conditions[34]. - The company may complete its initial business combination even if a majority of public shareholders do not support it, as initial shareholders have agreed to vote in favor regardless of public sentiment[57]. - The company has a 15-month deadline to complete its initial business combination, extendable to 24 months, which may limit due diligence and negotiation leverage[57]. Management and Strategy - The management team aims to focus on acquisition targets in Asia, particularly private companies with strong economics and paths to positive cash flow[29]. - The Company has identified criteria for evaluating prospective target businesses, emphasizing operational efficiency and revenue scaling[30]. - The company aims to acquire businesses with strong management teams to enhance operational and investment capabilities[31]. - The focus is on identifying businesses with significant revenue and earnings growth potential through product development and increased production capacity[31]. - The company seeks to acquire businesses capable of generating strong, stable, and increasing free cash flow, particularly those with predictable revenue streams[33]. - The company plans to utilize the expertise of its management team to evaluate potential acquisition targets[39]. Operational Status and Risks - The Company has not yet commenced any operations and does not expect to generate operating revenues until after completing a business combination[16]. - The company has no prior experience in consummating an initial business combination for a blank check company[28]. - There are no current material litigations or governmental proceedings against the company or its management team[53]. - The company is classified as an "emerging growth company," allowing it to take advantage of certain reporting exemptions[49]. - The company may face additional risks when initiating business combinations with target companies operating in China, including regulatory and enforcement risks[55]. - The company has no operations or generated revenues until the completion of the initial business combination[54]. - The company faces risks related to the COVID-19 pandemic and market conditions that could adversely affect its search for a business combination[57]. - The major shareholder's non-U.S. status and ties to China may limit the company's attractiveness to potential target companies outside of China[59]. - The company may encounter difficulties in managing cross-border operations, impacting financial results[63]. - Regulatory changes in China could significantly affect the company's ability to operate profitably and impact the value of its securities[65]. - The company may avoid initial business combinations with firms holding over one million users' personal information in China due to regulatory concerns[65]. Shareholder Considerations - The company may issue additional shares post-business combination, which could dilute existing shareholders' interests[60]. - Conflicts of interest may arise as management allocates time to other businesses and potential acquisition opportunities[61]. - Recent accounting standards are not expected to materially affect the company's financial statements[66].

Company Overview - AlphaVest Acquisition Corp is a blank check company aimed at executing mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations with one or more businesses [3] - The company is not restricted to a specific industry or geographic region for identifying and acquiring target companies, but it intends to focus its search on businesses throughout Asia [3] Extraordinary General Meeting - The Extraordinary General Meeting of Shareholders was convened on December 20, 2023, and was adjourned to solicit additional votes on the matters listed in the notice of the meeting and the proxy statement [1] - The adjourned meeting is scheduled for December 21, 2023, at 1:30 p.m. Eastern Time and will continue to be held virtually [1] - Only shareholders of record as of December 7, 2023, are entitled to vote at the meeting, either in person or by proxy [2] - Proxies previously submitted will be voted at the adjourned meeting unless properly revoked, and shareholders who have already voted do not need to take further action [2]

Financial Performance - For the three months ended September 30, 2023, the company reported a net income of $755,988, consisting of interest earned on marketable securities and bank interest income of $954,809, offset by formation and operating costs of $198,821[88]. - For the nine months ended September 30, 2023, the company had a net income of $2,105,442, with interest income totaling $2,592,636 and operating costs of $487,194[88]. - Cash used in operating activities for the nine months ended September 30, 2023, was $601,192, with a net income of $2,105,442 impacted by interest earned on marketable securities[92]. Assets and Securities - As of September 30, 2023, the company held marketable securities in the Trust Account amounting to $73,010,689, including $954,788 of interest income for the three months ended September 30, 2023[93]. - Following the full exercise of the over-allotment option, the total amount placed in the trust account was $70,380,000, which may be invested in U.S. government securities or money market funds[91]. - As of September 30, 2023, the company had cash of $57,843, intended for identifying and evaluating target businesses and conducting due diligence[94]. Debt and Obligations - The company has no long-term debt obligations or off-balance sheet arrangements as of September 30, 2023[100]. Going Concern - There is substantial doubt about the company's ability to continue as a going concern within one year after the issuance of the financial statements[97]. Future Expectations - The company expects to incur increased expenses as a result of being a public company and conducting due diligence on prospective business combination candidates[86]. Initial Public Offering - The company generated gross proceeds of $60,000,000 from the Initial Public Offering of 6,000,000 Units at $10.00 per Unit[90].

Financial Performance - For the three months ended June 30, 2023, the company reported a net income of $704,556, consisting of interest earned on marketable securities and bank interest income of $834,743, offset by formation and operating costs of $130,187[84]. - For the six months ended June 30, 2023, the company had a net income of $1,349,454, with interest income totaling $1,637,827 and operating costs of $288,373[84]. Marketable Securities - As of June 30, 2023, the company held marketable securities in the Trust Account amounting to $72,055,901, including $834,681 of interest income for the three months ended June 30, 2023[88]. Initial Public Offering - The company generated gross proceeds of $60,000,000 from the Initial Public Offering of 6,000,000 Units at $10.00 per Unit[85]. - Following the full exercise of the underwriter's over-allotment option, an additional $9,000,000 was raised, bringing total proceeds to $70,380,000 placed in the trust account[86]. Cash Flow and Liquidity - Cash used in operating activities for the six months ended June 30, 2023, was $438,236, resulting in a decrease in cash[95]. - As of June 30, 2023, the company had cash of $220,799 available for identifying and evaluating target businesses[89]. Future Outlook and Concerns - The company expects to incur increased expenses as a result of being a public company, including legal and financial reporting costs[81]. - There is substantial doubt about the company's ability to continue as a going concern within one year after the issuance of the financial statements[93]. Debt and Obligations - The company has no long-term debt obligations or off-balance sheet arrangements as of June 30, 2023[96].

Financial Performance - For the three months ended March 31, 2023, the net income was $644,898, compared to a net loss of $3,749 for the same period in 2022[8]. - The basic and diluted net income per share for common stock subject to redemption was $0.46 for the three months ended March 31, 2023[8]. - As of March 31, 2023, the Company reported a net income of $644,898, which includes interest earned on marketable securities of $803,084[82]. - The Company has not generated any operating revenues to date and will not do so until the completion of its initial Business Combination[81]. Balance Sheet and Cash Position - The total current liabilities decreased to $39,412 as of March 31, 2023, from $257,871 as of December 31, 2022[7]. - The total shareholders' equity as of March 31, 2023, was $358,221, down from $554,543 as of December 31, 2022[7]. - The company had cash at the end of the period amounting to $310,950, down from $659,035 at the beginning of the period[14]. - The Company had cash of $310,950 as of March 31, 2023, intended for identifying and evaluating target businesses[88]. - Cash used in operating activities for the three months ended March 31, 2023, was $348,085[93]. - The Company has no long-term debt obligations or off-balance sheet arrangements as of March 31, 2023[94]. Initial Public Offering (IPO) - The company generated gross proceeds of $60,000,000 from its Initial Public Offering on December 22, 2022[19]. - The Company sold 6,000,000 Units at a price of $10.00 per Unit during its Initial Public Offering, raising a total of $60,000,000[51]. - An additional 900,000 Units were issued due to the underwriter's full exercise of their over-allotment option, generating an extra $9,000,000[51]. - The Company completed a private sale of 390,000 Private Placement Units at $10.00 per Unit, totaling $3,900,000, which were added to the net proceeds from the Initial Public Offering[52]. - The total net proceeds from the initial public offering and the sale of Private Placement Units amounted to $71,030,000, or $10.20 per share sold in the initial public offering[114]. - The Company incurred transaction costs related to the Initial Public Offering amounting to $3,734,629[21]. - Offering costs of $3,734,630 were charged to additional paid-in capital upon completion of the Initial Public Offering[41]. Trust Account and Investments - The company placed $61,200,000 in a Trust Account from the net proceeds of the Initial Public Offering, with a per unit value of $10.20[20]. - The Company has $71,221,220 in investments held in the Trust Account as of March 31, 2023, including $802,992 in interest income[40]. - As of March 31, 2023, the Trust Account held $71,221,220 in a mutual fund primarily invested in U.S. Treasury Securities[72]. - The fair value of marketable securities held in the Trust Account increased from $70,418,228 on December 31, 2022, to $71,221,220 on March 31, 2023, reflecting a growth of approximately 1.14%[72]. Business Combination and Future Plans - The Company will redeem 100% of the Public Shares if a Business Combination is not completed within the Combination Period[28]. - The Company has until 12 months (or 18 months if extended) from the closing of the Initial Public Offering to consummate a Business Combination[28]. - The Company intends to use substantially all funds in the trust account to complete its initial business combination[87]. - Management believes that the funds available will sustain operations for at least one year from the issuance date of the financial statement[31]. - There is substantial doubt about the Company's ability to continue as a going concern within one year after the issuance of the financial statements[91]. Internal Controls and Compliance - There was a material weakness identified in internal controls related to the accretion adjustment, which management plans to enhance through additional analyses[107]. - No changes in internal control over financial reporting materially affected the company during the most recent fiscal quarter[107]. - The Company does not expect any recently issued accounting standards to have a material effect on its financial statements[50]. - The Company has no unrecognized tax benefits or accrued interest and penalties as of March 31, 2023[47]. - There have been no material changes to the risk factors disclosed in previous filings as of the date of this Quarterly Report[109].

Financial Overview - The company generated gross proceeds of $60 million from its Initial Public Offering (IPO) by selling 6 million units at $10.00 per unit[20] - An additional 900,000 units were sold due to the underwriters fully exercising their over-allotment option, resulting in total gross proceeds of $9 million[20] - The total amount deposited into a U.S.-based trust account was $70.38 million, equating to $10.20 per public share[22] - The net proceeds from the Initial Public Offering and the sale of private units may be used for general corporate purposes, including maintenance or expansion of operations[34] Business Strategy - The company intends to focus on acquiring businesses in Asia, particularly those with strong management teams and significant growth potential[26] - The management team has extensive experience in mergers and acquisitions, which is expected to aid in identifying attractive acquisition opportunities[25] - The company plans to leverage its management team's expertise to improve operational efficiency and scale revenue through acquisitions[28] Operational Status - The company has not commenced any operations and does not expect to generate operating revenues until after completing its Business Combination[19] - The company has generated no revenues to date and is classified as an early-stage and emerging growth company[17] - The company currently maintains executive offices at a cost of $10,000 per month for office space and administrative services[40] - The company has no full-time employees and relies on its management team to devote necessary time until the initial business combination is completed[41] Regulatory and Market Risks - The company may face additional risks related to potential business combinations with target companies operating in China, including regulatory and enforcement risks[54] - PRC regulations may limit the company's ability to inject capital into its Chinese subsidiaries, affecting profit distribution and exposing it to legal liabilities[62] - Changes in PRC government policies could significantly impact the company's operations and the value of its securities[62] - The company may face increased scrutiny from the Cybersecurity Administration of China, affecting its ability to complete business combinations with certain technology firms[62] Competition and Market Environment - The company may face intense competition from other entities, including private equity groups and leveraged buyout funds, which may limit its ability to acquire larger target businesses[39] - The Asian private equity market saw a record deal value of $296 billion in 2021, representing a 50% increase over 2020[27] Business Combination Details - The company has a maximum of 12 months from the IPO closing to complete its initial business combination, extendable up to 18 months with additional deposits[31] - The initial business combination must involve target businesses with an aggregate fair market value of at least 80% of the assets held in the trust account[33] Growth Company Status - The company is classified as an "emerging growth company," allowing it to take advantage of certain exemptions from reporting requirements[47] - The company may remain an emerging growth company until it has total annual gross revenue of at least $1.07 billion or the market value of its common stock held by non-affiliates exceeds $700 million[49] Legal and Compliance - There is no material litigation or governmental proceeding currently pending against the company or its management team[51] - The company may face conflicts of interest due to management's potential involvement with other businesses, which could negatively impact the completion of its initial business combination[59] - There is a risk that the company may not maintain control over a target business post-combination, potentially affecting operational profitability[60] - Managing cross-border operations may lead to negative impacts on the company's results due to inherent costs and difficulties[61] Financial Risk - As of December 31, 2022, the company was not subject to market or interest rate risk, with IPO proceeds invested in U.S. government treasury obligations[415]