PMV Consumer Acquisition Corp

Previous wording

For the three months ended March 31, 2024, we had a net loss of $77,383, which consists of interest income of $13,199, offset by general and administrative expenses of $54,777, franchise tax expense of $5,286, and provision for income taxes of $30,519.

Current wording

For the three and six months ended June 30, 2024, we had a net loss of $28,356 and $105,739, respectively, which consists of interest income of $14,396 and $27,595, respectively, offset by general and administrative expenses of $42,920 and $97,697, respectively, franchise tax expense of $10,000 and $15,286, respectively, and provision for income taxes of $10,168 and $(20,351), respectively.

Previous wording

For the three months ended March 31, 2023, we had a net loss of $98,590, which consists of interest income of $9,480, offset by general and administrative expenses of $100,154, franchise tax expense of $7,500, and provision for income taxes of $416.

Current wording

For the three and six months ended June 30, 2023, we had a net loss of $41,435 and $140,025, respectively, which consists of interest income of $13,369 and $22,849, respectively, offset by general and administrative expenses of $44,018 and $144,172, respectively, franchise tax expense of $Nil and $7,500, respectively, and provision for income taxes of $10,786 and $11,202, respectively.

Previous wording

As of March 31, 2024, we had cash and cash equivalents of $1,171,427. We intend to use these funds primarily to identify and evaluate potential business opportunities, perform business due diligence on prospective business opportunities, travel to and from the offices, plants or similar locations associated with prospective business opportunities, review corporate documents and material agreements related to business opportunities, and structure, negotiate and complete a transaction.

Current wording

As of June 30, 2024, we had cash and cash equivalents of $1,132,400. We intend to use these funds primarily to identify and evaluate potential business opportunities, perform business due diligence on prospective business opportunities, travel to and from the offices, plants or similar locations associated with prospective business opportunities, review corporate documents and material agreements related to business opportunities, and structure, negotiate and complete a transaction.

Previous wording

For the three months ended March 31, 2024, cash provided by operating activities was $98,797. Net loss of $77,383 was affected by net increase of changes in operating assets and liabilities of $176,180.

Current wording

For the six months ended June 30, 2024, cash provided by operating activities was $59,770. Net loss of $105,739 was affected by net increase of changes in operating assets and liabilities of $165,509.

Previous wording

For the three months ended March 31, 2023, cash provided by operating activities was $21,126. Net loss of $98,590 was affected by net increase of changes in operating assets and liabilities of $119,716.

Current wording

For the six months ended June 30, 2023, cash used in operating activities was $56,645. Net loss of $140,025 was affected by net increase of changes in operating assets and liabilities of $83,380.

Previous wording

On August 22, 2022, UBS agreed to waive its entitlement to the deferred underwriting commission of $4,593,750 to which it became entitled upon completion of the Company’s Initial Public Offering, subject to the consummation of a transaction. Thereafter, on December 27, 2022, in accordance with the provisions of its charter, the Company announced the completion of the redemption of its outstanding shares of Class A common stock subject to redemption (the “Class A IPO Shares”), which resulted in the forfeiture of the remaining $1,531,250 of deferred underwriting fees. Following the completion of the redemption of the Class A IPO Shares, the IPO Trust Account was terminated in complete liquidation of the assets held in trust, and the relevant provisions of the Company’s charter, including with respect to any business combination and the IPO Trust Account, were extinguished and are of no further legal force and effect. As a result, the Company derecognized the entire deferred underwriting fee payable of $6,125,000 and recorded $5,815,688 of the forgiveness of the deferred underwriting fee allocated to Public Shares to accumulated earnings (deficit) and the remaining balance of $309,312 was as a gain from extinguishment of liability allocated to warrant liabilities. As of March 31, 2024 and December 31, 2023, the deferred underwriting fee payable is $0.

Current wording

On August 22, 2022, UBS agreed to waive its entitlement to the deferred underwriting commission of $4,593,750 to which it became entitled upon completion of the Company’s Initial Public Offering, subject to the consummation of a transaction. Thereafter, on December 27, 2022, in accordance with the provisions of its charter, the Company announced the completion of the redemption of its outstanding shares of Class A convertible common stock subject to redemption (the “Class A IPO Shares”), which resulted in the forfeiture of the remaining $1,531,250 of deferred underwriting fees. Following the completion of the redemption of the Class A IPO Shares, the IPO Trust Account was terminated in complete liquidation of the assets held in trust, and the relevant provisions of the Company’s charter, including with respect to any business combination and the IPO Trust Account, were extinguished and are of no further legal force and effect. As a result, the Company derecognized the entire deferred underwriting fee payable of $6,125,000 and recorded $5,815,688 of the forgiveness of the deferred underwriting fee allocated to Public Shares to accumulated earnings (deficit) and the remaining balance of $309,312 was as a gain from extinguishment of liability allocated to warrant liabilities. As of June 30, 2024 and December 31, 2023, the deferred underwriting fee payable is $0.