AlphaVest Acquisition p(US:ATMV)2025-08-14 20:16Financial Performance - As of June 30, 2025, the company reported a net income of $23,368, consisting of interest income of $191,642, offset by formation and operating costs of $168,274 for the three months ended June 30, 2025[97]. - For the six months ended June 30, 2025, the company had a net income of $32,064, with interest income of $378,821 and operating costs of $346,757[98]. Initial Public Offering (IPO) - The company generated gross proceeds of $60,000,000 from the Initial Public Offering (IPO) of 6,000,000 Units at $10.00 per Unit[101]. - 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 for the initial business combination[103]. Financial Position and Concerns - As of June 30, 2025, the company had cash of $4,216 and a working capital deficit of $2,422,391, raising substantial doubt about its ability to continue as a going concern[108]. - There is no assurance that the company will successfully consummate a business combination within the combination period, which raises substantial doubt about its ability to continue as a going concern[107]. 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[95]. - The company expects to incur significant costs related to being a public company and due diligence expenses in connection with the search for a business combination target[96]. Advisory and Fees - 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[113]. Marketable Securities - The company has marketable securities held in the trust account amounting to $18,764,521, consisting of U.S. government securities with a maturity of 185 days or less[104].