Financial Performance - As of March 31, 2025, the company reported a net income of $8,697, consisting of 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 reported a net income of $349,241, with bank interest income of $678,480[102]. - The company has not generated any operating revenues to date and will not do so until the completion of its initial business combination[99]. 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[103]. - Following the full exercise of the over-allotment option, the total amount placed in the trust account was $70,380,000, which is $10.20 per Unit[105]. Financial Position - 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[106]. - The company has a working capital deficit of $2,089,118 as of March 31, 2025[110]. - The company has no long-term debt or off-balance sheet financing arrangements as of March 31, 2025[111]. Going Concern - There is substantial doubt about the company's ability to continue as a going concern if a business combination is not completed within the specified period[109]. Future Expectations - 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].
Alphavest Acquisition Corp(ATMVU) - 2025 Q1 - Quarterly Report