Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Monterey Capital Acquisition Corporation (Exact name of registrant as specified in its charter) Registrant's telephone number, including area code: (831) ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Monterey Capital Acquisition Corporation (Exact name of registrant as specified in its charter) | --- | --- | --- | |--------------------------- ...

[Part I: Financial Information](index=2&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section presents the company's unaudited financial statements, management's analysis, market risk, and internal controls [Unaudited Condensed Consolidated Financial Statements](index=2&type=section&id=Item%201.%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements.) The SPAC reported a net loss for H1 2023, primarily due to a Forward Purchase Agreement liability, with substantial doubt about its going concern ability [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | June 30, 2023 ($) | December 31, 2022 ($) | | :--- | :--- | :--- | | **Assets** | | | | Cash | $214,623 | $5,938 | | Marketable securities held in trust account | $96,758,886 | $94,209,804 | | **Total Assets** | **$97,095,886** | **$94,222,525** | | **Liabilities & Stockholders' Deficit** | | | | Total current liabilities | $4,582,589 | $2,058,448 | | Forward Purchase Agreement Liability | $8,870,000 | $2,770,000 | | **Total Liabilities** | **$17,132,589** | **$8,508,448** | | **Total Stockholders' Deficit** | **($16,324,322)** | **($8,054,560)** | - As of June 30, 2023, **9,200,000 shares of Class A common stock** were subject to possible redemption, valued at **$96,287,619**[7](index=7&type=chunk) [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Condensed Consolidated Statements of Operations (Unaudited) | Metric | Six Months Ended June 30, 2023 ($) | Six Months Ended June 30, 2022 ($) | | :--- | :--- | :--- | | General and administrative expenses | ($1,352,965) | ($542,902) | | Dividend and interest income | $2,134,285 | $85,018 | | Loss on change in fair value of Forward Purchase Agreement Liability | ($6,100,000) | $0 | | **Net Loss** | **($5,750,780)** | **($488,100)** | | **Basic and diluted net loss per share, Class A** | **($0.49)** | **($0.11)** | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Condensed Consolidated Statements of Cash Flows Highlights (Unaudited) | Activity | Six Months Ended June 30, 2023 ($) | Six Months Ended June 30, 2022 ($) | | :--- | :--- | :--- | | Net cash used in operating activities | ($618,518) | ($293,229) | | Net cash used in investing activities | ($414,797) | ($92,920,000) | | Net cash provided by financing activities | $1,242,000 | $93,426,015 | | **Net Change in Cash** | **$208,685** | **$212,786** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) - The company is a blank check company that entered into a merger agreement with ConnectM Technology Solutions, Inc. on December 31, 2022[19](index=19&type=chunk)[20](index=20&type=chunk) - Management has substantial doubt about the Company's ability to continue as a going concern, as it may be required to dissolve as early as **November 13, 2023**, if a business combination is not completed[61](index=61&type=chunk) - The Forward Purchase Agreement liability, a derivative instrument, was valued at **$8.87 million** as of June 30, 2023, using Level 3 inputs. The change in fair value resulted in a **$6.1 million loss** for the first six months of 2023[90](index=90&type=chunk)[93](index=93&type=chunk) - As of June 30, 2023, the company had **$579,000** in outstanding Working Capital Loans from its Sponsor, which are convertible into warrants[110](index=110&type=chunk) - Subsequent to the quarter end, on August 11, 2023, the company extended its business combination deadline to **November 13, 2023**, funded by a **$920,000 deposit** from the merger target, ConnectM[136](index=136&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=37&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management discusses the company's blank check status, pending merger, and a **$3.77 million working capital deficit**, reiterating substantial doubt about its going concern ability - The company is a blank check company formed to effect a business combination and has entered into a merger agreement with ConnectM Technology Solutions, Inc.[142](index=142&type=chunk)[150](index=150&type=chunk) - As of June 30, 2023, the company had cash of **$214,623** and a working capital deficit of **$3,774,322**, raising substantial doubt about its ability to continue as a going concern[151](index=151&type=chunk)[156](index=156&type=chunk) Results of Operations Summary (Unaudited) | Metric | Six Months Ended June 30, 2023 ($) | Six Months Ended June 30, 2022 ($) | | :--- | :--- | :--- | | Net Loss | ($5,750,780) | ($488,100) | | Key Drivers of Loss | G&A expenses, Loss on change in fair value of Forward Purchase Agreement liability | Formation and G&A costs | | Offsetting Income | $2,134,285 in dividend and interest income | $85,018 in dividend and interest income | - The company has a commitment to pay **$3.68 million** in deferred underwriting commissions, contingent upon the completion of a business combination[163](index=163&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=48&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is a smaller reporting company and is not required to provide the information for this item - As a smaller reporting company defined by Rule 12b-2 of the Exchange Act, the company is not required to provide the information otherwise required under this item[184](index=184&type=chunk) [Controls and Procedures](index=49&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were not effective as of June 30, 2023, due to material weaknesses in accounting for complex financial instruments and cash disbursements - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were not effective as of **June 30, 2023**[186](index=186&type=chunk) - Material weaknesses were identified related to the accounting for complex financial instruments, completeness and accuracy of financial data, and the review and approval of cash disbursements[186](index=186&type=chunk)[188](index=188&type=chunk)[189](index=189&type=chunk) - In a specific control failure, **$87,377** of funds withdrawn from the Trust Account for tax payments were inadvertently used for general operating expenses, later replenished by the merger target, ConnectM[190](index=190&type=chunk) - The company has implemented and is continuing to implement remediation efforts, including additional review procedures for legal agreements, financial data, and cash oversight, and is utilizing outside advisors for complex accounting matters[191](index=191&type=chunk)[192](index=192&type=chunk) [Part II: Other Information](index=51&type=section&id=PART%20II-OTHER%20INFORMATION) This section covers legal proceedings, risk factors, equity sales, other information, and exhibits [Legal Proceedings](index=51&type=section&id=Item%201.%20Legal%20Proceedings) The company reports no legal proceedings - There are no legal proceedings to report[195](index=195&type=chunk) [Risk Factors](index=51&type=section&id=Item%201A.Risk%20Factors) As a smaller reporting company, the company is not required to provide the information for this item - The Company is a "smaller reporting company" and is not required to provide the information required by this Item[195](index=195&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=51&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered sales of equity securities or use of proceeds for this period - None reported[195](index=195&type=chunk) [Other Information](index=51&type=section&id=Item%205.%20Other%20Information) The company reports no other information - None reported[195](index=195&type=chunk) [Exhibits](index=52&type=section&id=Item%206.%20Exhibits.) This section lists the exhibits filed with the report, including officer certifications and XBRL interactive data files - The report includes certifications from the Principal Executive Officer and Principal Financial Officer as required by Section 302 and Section 906 of the Sarbanes-Oxley Act of 2002[197](index=197&type=chunk) - XBRL Instance Document and related taxonomy files are included as exhibits[197](index=197&type=chunk) [Signatures](index=53&type=section&id=SIGNATURES) The report was duly signed and authorized by the Chief Executive Officer and Principal Financial Officer on August 23, 2023 - The report was duly signed and authorized on **August 23, 2023**, by Bala Padmakumar, Chief Executive Officer, and Daniel Davis, who is also listed with the title of Chief Executive Officer (Principal Financial Officer)[199](index=199&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Monterey Capital Acquisition Corporation Monterey, California 93940 93940 (Address of principal executive offices) (Zip Code) Registrant's telephone ...

Part I [Item 1. Business](index=7&type=section&id=Item%201.%20BUSINESS) MCAC, a SPAC, completed its IPO in May 2022, raising $92 million, and entered a definitive merger agreement with ConnectM Technology Solutions, Inc. in December 2022 - MCAC is a blank check company incorporated in 2021 to effect a business combination, focusing on the **clean transition and carbon emission industries**[22](index=22&type=chunk)[26](index=26&type=chunk) Initial Public Offering (IPO) Details | Metric | Value | | :--- | :--- | | IPO Date | May 13, 2022 | | Units Offered | 9,200,000 | | Price per Unit | $10.00 | | Gross Proceeds | $92 million | | Amount in Trust Account | $92,920,000 ($10.10 per Unit) | - On December 31, 2022, MCAC entered a merger agreement with ConnectM Technology Solutions, Inc., with consideration of **14,500,000 shares of MCAC Common Stock**[36](index=36&type=chunk)[37](index=37&type=chunk) - The company has until **May 13, 2023**, to complete an initial business combination, with an option to extend to **November 13, 2023**, or face liquidation[25](index=25&type=chunk)[95](index=95&type=chunk) [Item 1A. Risk Factors](index=55&type=section&id=Item%201A.%20RISK%20FACTORS) The company faces significant risks, including auditor's going concern doubt, SPAC structure challenges, and identified material weaknesses in internal financial controls - The independent auditor's report expresses **substantial doubt** about the company's ability to continue as a **going concern**[172](index=172&type=chunk)[376](index=376&type=chunk) - Two **material weaknesses** in internal control over financial reporting were identified: one for financial data completeness and accuracy, and another for complex financial instrument accounting[378](index=378&type=chunk)[381](index=381&type=chunk) - Failure to complete the initial business combination by **November 13, 2023** (if extended) could result in liquidation, rendering public warrants and rights worthless[200](index=200&type=chunk)[201](index=201&type=chunk) - Conflicts of interest exist as the Sponsor, officers, and directors risk losing their entire investment if a business combination is not completed, potentially influencing transaction approval[327](index=327&type=chunk)[328](index=328&type=chunk) - Public stockholder redemption rights may make the company's financial condition unattractive to potential targets, hindering the completion of a desirable business combination[190](index=190&type=chunk)[191](index=191&type=chunk) [Item 1B. Unresolved Staff Comments](index=117&type=section&id=Item%201B.%20UNRESOLVED%20STAFF%20COMMENTS) The company reports no unresolved staff comments - None[397](index=397&type=chunk) [Item 2. Properties](index=117&type=section&id=Item%202.%20PROPERTIES) The company's principal executive offices are located in Monterey, California, and are considered adequate for current operations - The company's executive offices are located at **419 Webster Street, Monterey, California, 93940**[398](index=398&type=chunk) [Item 3. Legal Proceedings](index=117&type=section&id=Item%203.%20LEGAL%20PROCEEDINGS) Management reports no current or contemplated litigation against the company or its officers and directors - No litigation is currently pending or contemplated against the company[399](index=399&type=chunk) [Item 4. Mine Safety Disclosures](index=117&type=section&id=Item%204.%20MINE%20SAFETY%20DISCLOSURES) This item is not applicable to the company - Not applicable[399](index=399&type=chunk) Part II [Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=118&type=section&id=Item%205.%20MARKET%20FOR%20REGISTRANT%27S%20COMMON%20EQUITY%2C%20RELATED%20STOCKHOLDER%20MATTERS%20AND%20ISSUER%20PURCHASES%20OF%20EQUITY%20SECURITIES) The company's securities trade on Nasdaq, with 9.34 million Class A and 2.3 million Class B shares outstanding as of March 31, 2023 - The company's securities trade on Nasdaq under symbols **MCACU** (Units), **MCAC** (Class A Common Stock), **MCACW** (Warrants), and **MCACR** (Rights)[402](index=402&type=chunk) - As of March 31, 2023, **9,338,000 Class A** and **2,300,000 Class B** shares of common stock were outstanding[403](index=403&type=chunk) - The company did not repurchase any equity securities during the fiscal year ended **December 31, 2022**[405](index=405&type=chunk) [Item 6. [Reserved]](index=118&type=section&id=Item%206.%20%5BRESERVED%5D) This item is reserved [Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=118&type=section&id=Item%207.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) As a blank check company, MCAC reported a **$3.8 million net loss** for 2022, with constrained liquidity and a working capital deficit raising going concern doubts Financial Position as of December 31, 2022 | Metric | Value | | :--- | :--- | | Cash | $5,938 | | Working Capital Deficit | ($1,605,220) | | Cash in Trust Account | $94,209,804 | Results of Operations for the Year Ended December 31, 2022 | Metric | Value | | :--- | :--- | | Net Loss | ($3,763,638) | | General & Administrative Costs | ($2,098,401) | | Loss on Forward Purchase Agreement | ($2,770,000) | | Dividend & Interest Income | $1,289,804 | - The company's financial condition raises **substantial doubt** about its ability to continue as a **going concern**, relying on Sponsor loans for operations[424](index=424&type=chunk) - The Forward Purchase Agreement with Meteora, entered on **December 31, 2022**, was recognized as a derivative liability, resulting in a **$2.77 million loss** on fair value change[437](index=437&type=chunk) [Item 7A. Quantitative and Qualitative Disclosures About Market Risk](index=130&type=section&id=Item%207A.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) As a smaller reporting company, MCAC is not required to provide this information - The company is a smaller reporting company and is not required to provide this information[455](index=455&type=chunk) [Item 8. Consolidated Financial Statements and Supplementary Data](index=131&type=section&id=Item%208.%20CONSOLIDATED%20FINANCIAL%20STATEMENTS%20AND%20SUPPLEMENTARY%20DATA) This section incorporates by reference the company's audited consolidated financial statements and the independent auditor's report - This section refers to the consolidated financial statements and supplementary data appearing later in the report[456](index=456&type=chunk) [Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=131&type=section&id=Item%209.%20CHANGES%20IN%20AND%20DISAGREEMENTS%20WITH%20ACCOUNTANTS%20ON%20ACCOUNTING%20AND%20FINANCIAL%20DISCLOSURE) This item is not applicable as there were no changes in or disagreements with accountants - Not applicable[456](index=456&type=chunk) [Item 9A. Controls and Procedures](index=131&type=section&id=Item%209A.%20CONTROLS%20AND%20PROCEDURES) Management concluded disclosure controls were ineffective as of December 31, 2022, due to two material weaknesses in internal control over financial reporting, with remediation plans implemented - As of **December 31, 2022**, the company's disclosure controls and procedures were concluded to be **not effective**[456](index=456&type=chunk) - A **material weakness** was identified regarding the completeness and accuracy of financial data, specifically an unrecorded legal counsel fee liability[458](index=458&type=chunk) - A second **material weakness** was identified concerning the proper accounting for the complex Forward Purchase Agreement entered on **December 31, 2022**[459](index=459&type=chunk) - Management has implemented remediation plans, including additional review procedures and utilizing outside financial reporting advisors, to address these weaknesses[460](index=460&type=chunk)[461](index=461&type=chunk)[462](index=462&type=chunk) [Item 9B. Other Information](index=133&type=section&id=Item%209B.%20OTHER%20INFORMATION) This item is not applicable - Not applicable[464](index=464&type=chunk) [Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections](index=133&type=section&id=Item%209C.%20DISCLOSURE%20REGARDING%20FOREIGN%20JURISDICTIONS%20THAT%20PREVENT%20INSPECTIONS) This item is not applicable - Not applicable[465](index=465&type=chunk) Part III [Item 10. Directors, Executive Officers and Corporate Governance](index=134&type=section&id=Item%2010.%20DIRECTORS%2C%20EXECUTIVE%20OFFICERS%20AND%20CORPORATE%20GOVERNANCE) This section details the company's executive officers and directors, board structure, committee composition, and potential conflicts of interest - The executive team includes **Bala Padmakumar** (CEO & Chairman), **Vivek Soni** (EVP & Director), and **Daniel Davis** (CFO)[467](index=467&type=chunk) - The board of directors is divided into two classes, with three independent directors: **Leela Gray, Kathy Cuocolo, and Stephen Markscheid**[473](index=473&type=chunk)[475](index=475&type=chunk) - The company has established an **Audit Committee** and a **Compensation Committee**, both comprised solely of independent directors[481](index=481&type=chunk)[482](index=482&type=chunk)[485](index=485&type=chunk) - Potential conflicts of interest arise from officers' and directors' fiduciary duties to other entities, potentially requiring them to present business opportunities elsewhere before MCAC[496](index=496&type=chunk)[504](index=504&type=chunk) [Item 11. Executive Compensation](index=148&type=section&id=Item%2011.%20EXECUTIVE%20COMPENSATION) No cash compensation has been paid to officers, though the Sponsor receives **$10,000 per month** for administrative support, and officers are reimbursed for expenses - No officers have received cash compensation for services; the Sponsor is paid **$10,000 per month** for administrative support[476](index=476&type=chunk) - Officers and directors are reimbursed for out-of-pocket expenses related to identifying and performing due diligence on potential business combinations[476](index=476&type=chunk)[518](index=518&type=chunk) [Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=148&type=section&id=Item%2012.%20SECURITY%20OWNERSHIP%20OF%20CERTAIN%20BENEFICIAL%20OWNERS%20AND%20MANAGEMENT%20AND%20RELATED%20STOCKHOLDER%20MATTERS) This section details beneficial ownership of common stock as of March 31, 2023, with the Sponsor as the primary holder and management collectively owning **14.6%** Security Ownership of Management (as of March 31, 2023) | Name | Shares Beneficially Owned | Percentage of Outstanding | | :--- | :--- | :--- | | Bala Padmakumar | 1,625,000 | 13.9% | | Leela Gray | 25,000 | * | | Kathy Cuocolo | 25,000 | * | | Stephen Markscheid | 25,000 | * | | **All officers & directors (6)** | **1,700,000** | **14.6%** | - Monterrey Acquisition Sponsor, LLC is the record holder of securities, with CEO **Bala Padmakumar** as the managing member sharing voting and dispositive power[514](index=514&type=chunk) [Item 13. Certain Relationships and Related Transactions, and Director Independence](index=149&type=section&id=Item%2013.%20CERTAIN%20RELATIONSHIPS%20AND%20RELATED%20TRANSACTIONS%2C%20AND%20DIRECTOR%20INDEPENDENCE) This section describes key related party transactions, including the Sponsor's purchase of Founder Shares and Private Placement Warrants, working capital loans, and monthly administrative fees - The Sponsor purchased **2,300,000 Founder Shares** for **$25,000** and **3,040,000 Private Placement Warrants** for **$3.04 million**[516](index=516&type=chunk)[517](index=517&type=chunk) - The Sponsor provides working capital loans, totaling **$157,000** in 2022, with up to **$1.5 million** convertible into warrants[520](index=520&type=chunk) - The company pays the Sponsor **$10,000 per month** for office space and administrative support[517](index=517&type=chunk) - The company's audit committee is responsible for reviewing and approving all related party transactions[524](index=524&type=chunk) [Item 14. Principal Accountant Fees and Services](index=153&type=section&id=Item%2014.%20PRINCIPAL%20ACCOUNTANT%20FEES%20AND%20SERVICES) This section summarizes **$147,502** in audit fees paid to Marcum LLP for fiscal year 2022, with all services pre-approved by the audit committee Accountant Fees for FY 2022 | Fee Category | Amount | | :--- | :--- | | Audit Fees | $147,502 | | Audit-Related Fees | $0 | | Tax Fees | $0 | | All Other Fees | $0 | - All auditing and permitted non-audit services are pre-approved by the company's audit committee[531](index=531&type=chunk) Part IV [Item 15. Exhibits and Financial Statement Schedules](index=154&type=section&id=Item%2015.%20EXHIBITS%20AND%20FINANCIAL%20STATEMENT%20SCHEDULES) This section lists documents filed as part of the Form 10-K, including key corporate and transactional agreements related to the proposed merger - This section contains a list of all exhibits filed with the Form 10-K, including key corporate and transactional documents[532](index=532&type=chunk)[534](index=534&type=chunk) [Item 16. Form 10-K Summary](index=156&type=section&id=Item%2016.%20FORM%2010-K%20SUMMARY) This item is not applicable - Not applicable[536](index=536&type=chunk) Financial Statements [Report of Independent Registered Public Accounting Firm](index=159&type=section&id=Report%20of%20Independent%20Registered%20Public%20Accounting%20Firm) The independent auditor's report expresses an opinion on fair presentation but highlights substantial doubt about the company's ability to continue as a going concern - The auditor's report includes an explanatory paragraph expressing **substantial doubt** about the Company's ability to continue as a **going concern**[542](index=542&type=chunk) - The going concern uncertainty stems from the requirement to complete a business combination by **May 13, 2023** (or **November 13, 2023** if extended) and insufficient operational funding[542](index=542&type=chunk) [Consolidated Financial Statements](index=160&type=section&id=Consolidated%20Financial%20Statements) The audited consolidated financial statements for 2022 show the company as a pre-combination SPAC with a **$8.1 million stockholders' deficit** and a **$3.8 million net loss**, with notes detailing the proposed merger Consolidated Balance Sheet Summary (as of Dec 31, 2022) | Account | Value | | :--- | :--- | | Cash | $5,938 | | Marketable securities held in Trust Account | $94,209,804 | | **Total Assets** | **$94,222,525** | | Total Current Liabilities | $2,058,448 | | Deferred underwriting fee payable | $3,680,000 | | Forward Purchase Agreement liability | $2,770,000 | | **Total Liabilities** | **$8,508,448** | | Class A common stock subject to possible redemption | $93,768,637 | | **Total Stockholders' Deficit** | **($8,054,560)** | Consolidated Statement of Operations Summary (Year ended Dec 31, 2022) | Account | Value | | :--- | :--- | | General and administrative expenses | ($2,098,401) | | Dividend and interest income | $1,289,804 | | Loss on change in fair value of Forward Purchase Agreement liability | ($2,770,000) | | Income tax provision | ($240,507) | | **Net Loss** | **($3,763,638)** | - The notes to the financial statements detail the proposed merger with ConnectM and the associated Forward Purchase Agreement, treated as a derivative liability[557](index=557&type=chunk)[588](index=588&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Monterey Capital Acquisition Corporation (Exact name of registrant as specified in its charter) | Delaware | 001-41389 | 87-2898342 | | --- | -- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Monterey Capital Acquisition Corporation (Exact name of registrant as specified in its charter) Delaware 001-41389 87-2898342 (State or other jurisdi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q | Delaware | 001-41389 | 87-2898342 | | --- | --- | --- | | (State or other jurisdiction of | (Commission File | (I.R.S. Employer | | incorporation or organization) | Number) | Identification Number) | | 419 Webster Street | | | | Monterey, California 93940 | | 93940 | | (Address of principal executive offices) | | (Zip Code) | | Registrant's telephone number, including area code: (831) 649-7388 | | | | Not A ...