Financial Performance - For the three months ended March 31, 2023, the Company reported a net loss of $585,537, primarily due to $809,927 in general and administrative costs and $214,510 in income tax expense [167]. - The Company has a working capital deficit of $2,365,146 as of March 31, 2023, excluding income and franchise tax liabilities [159]. - The Company has not generated any operating revenues to date and does not expect to do so until after the completion of its business combination [160]. - The Company recognized a loss of $560,000 on the change in fair value of the Forward Purchase Agreement liability for the three months ended March 31, 2023 [177]. - The estimated fair value of the put option liability related to the Forward Purchase Agreement was $3,330,000 as of March 31, 2023, compared to $2,770,000 at December 31, 2022 [177]. Initial Public Offering (IPO) - The Company raised gross proceeds of $92 million from its Initial Public Offering (IPO) by selling 9,200,000 units at $10.00 per unit, incurring offering costs of approximately $8.7 million [152]. - The Company issued 9,200,000 shares of Class A Common Stock in the Initial Public Offering, which contain a redemption feature [182]. Business Combination - The Company entered into a Merger Agreement with ConnectM Technology Solutions, Inc. on December 31, 2022, to effect a business combination [158]. - The Company extended the deadline to consummate its business combination from May 13, 2023, to August 13, 2023, by depositing $920,000 into the Trust Account [157]. Cash and Financing - As of March 31, 2023, the Company had cash in the Trust Account amounting to $95,008,704, intended for completing its initial business combination [162]. - The Company has received $400,000 in Working Capital Loans to finance operations as of March 31, 2023 [161]. - During the three months ended March 31, 2023, the Sponsor loaned the Company $243,000 in Working Capital Loans, which are to be repaid upon consummation of a Business Combination [193]. - The Company had $400,000 borrowed under the Working Capital Loans from the Sponsor included in Convertible note – related party as of March 31, 2023 [193]. Administrative Costs - The Company has incurred $30,000 in administrative support fees under an agreement with the Sponsor during the three months ended March 31, 2023 [171]. Shareholder Information - The Sponsor paid $25,000 for 2,875,000 shares of Class B common stock, resulting in a cost of approximately $0.009 per share [189]. - The Sponsor surrendered 575,000 Founder Shares on May 10, 2022, leaving 2,300,000 Founder Shares held by the Sponsor and directors [189]. - The Company’s Public Warrants and Private Warrants could potentially be exercised or converted into common stock, but were excluded from the diluted loss per share calculation due to being anti-dilutive [181]. - The Company complies with ASC Topic 260 for calculating net loss per share, with the weighted average shares for the period from September 23, 2021, through May 13, 2022, reduced by 300,000 Class B Common Stock subject to forfeiture [179]. Accounting Standards - The Company does not expect any recently issued accounting standards to have a material impact on its unaudited condensed consolidated financial statements [184].

Financial Performance - As of December 31, 2022, the company reported a net loss of $3,763,638, primarily due to $2,098,401 in general and administrative costs and a $2,770,000 loss on the change in fair value of the Forward Purchase Agreement liability[376]. - The company has not generated any operating revenues to date and does not expect to do so until after the completion of its business combination[368]. - A working capital deficit of $1,605,220 was reported as of December 31, 2022, excluding income and franchise tax liabilities[367]. Initial Public Offering (IPO) - The Initial Public Offering (IPO) generated gross proceeds of $92 million from the sale of 9,200,000 units at $10.00 per unit, with offering costs of approximately $8.7 million[359]. - For the year ended December 31, 2022, total offering costs amounted to $8,698,910, which included $920,000 in underwriting commissions and $3,680,000 in deferred underwriter's commissions[383]. - The Company had 9,200,000 shares of Class A Common Stock sold in the Initial Public Offering, all containing a redemption feature[392]. Cash and Liquidity - The company had cash in the Trust Account amounting to $94,209,804 as of December 31, 2022, intended for completing its initial business combination[370]. - The company had cash of approximately $5,938 at December 31, 2022, indicating limited liquidity prior to the IPO[367]. - The company received $157,000 in Working Capital Loans through December 31, 2022, which are to be repaid upon consummation of a business combination[369]. Business Combination - The company entered into a Merger Agreement with ConnectM on December 31, 2022, to effect a business combination[366]. - The company has a deferred underwriting commission of $3,680,000 payable to the underwriter, contingent upon the completion of an initial business combination[378]. - The Sponsor loaned the Company $157,000 in Working Capital Loans during the year ended December 31, 2022, which are to be repaid upon consummation of a Business Combination[405]. Accounting and Valuation - The fair value of the put option liability from the Forward Purchase Agreement with Meteora was estimated at $2,770,000 as of December 31, 2022, resulting in a recognized loss of $2,770,000 on the change in fair value[386]. - The Company recognized the accretion from initial book value to redemption amount of the redeemable Class A Common Stock, which approximates fair value[393]. - The Company adopted ASU 2020-06 effective January 1, 2022, which did not have a material impact on its consolidated financial statements[394]. - The total offering costs allocated to Class A Common Stock subject to possible redemption were $8,139,659[383]. - The Company’s Public Warrants and Rights were accounted for as equity instruments at the IPO date[385]. - The Note balance related to the promissory note from the Sponsor was $0 as of December 31, 2022, down from $80,000 in 2021[403]. Administrative Costs - The company incurred $75,000 under the administrative support agreement during the year ended December 31, 2022, paying the Sponsor $10,000 per month for up to 12 months[379]. - The weighted average shares for the period from September 23, 2021, through May 13, 2022, were reduced by 300,000 Class B Common Stock subject to forfeiture until the IPO[387].

Table of Contents 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 jurisdiction of | (Commission File | (I.R.S. Employer | | incorporation or organization) | Number) | Identification Number) | 419 Webster Street Monterey, California 93940 93940 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT ...

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 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 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 | | --- | --- | ...