AlphaTime Acquisition Corp has reported its financial results for the third quarter of 2025, revealing a net income of $165,713 for the three months ending September 30, 2025, compared to a net income of $404,367 for the same period in 2024. For the nine months ending September 30, 2025, the company recorded a net income of $156,367, a significant decrease from $1,232,002 in the prior year. The decline in profitability is attributed to a reduction in income earned on the Trust Account, which fell to $628,546 from $2,147,535 year-over-year, reflecting lower interest income due to market conditions.
The company’s total assets as of September 30, 2025, amounted to $16,050,514, an increase from $15,257,022 at the end of 2024. This growth was primarily driven by an increase in the investment held in the Trust Account, which rose to $16,023,769 from $15,240,284. However, total liabilities also increased to $6,383,625 from $5,746,500, largely due to higher current liabilities, including accounts payable and amounts due to related parties.
In terms of operational developments, AlphaTime has not yet commenced any business operations since its inception in September 2021. The company is focused on completing a business combination, with its current strategy involving a merger with HCYC Group Company Limited. The merger agreement was signed on January 5, 2024, and is pending shareholder approval. The company has also extended the deadline for completing its business combination multiple times, with the latest extension allowing until January 4, 2026.
As of September 30, 2025, AlphaTime had 2,551,636 ordinary shares issued and outstanding, with 1,335,250 shares subject to possible redemption. The company has faced challenges in maintaining liquidity, reporting a working capital deficit of $3,941,880. To address this, it has relied on loans from its sponsor, totaling $1,262,500, to fund operational costs and extend the business combination period. The company anticipates needing additional capital to meet its liquidity needs and continue its search for a suitable business combination.
Looking ahead, AlphaTime remains focused on finalizing its merger with HCYC and is actively seeking to secure the necessary shareholder approvals. The company’s management has expressed confidence in its ability to complete the business combination, although it acknowledges the inherent risks and uncertainties associated with such transactions. The financial statements reflect ongoing concerns regarding the company’s ability to continue as a going concern, emphasizing the need for successful execution of its strategic plans.
About ALPHATIME ACQUISITION CORP
AlphaTime Acquisition Corp is a blank check company focused on merging with businesses, primarily in Asia, to leverage its management team's expertise. With $60 million raised in its IPO, the company aims to identify high-potential targets for business combinations. As an emerging growth entity, it seeks to capitalize on Asia's economic expansion while navigating regulatory challenges. The company is currently pursuing a merger with HCYC Group Company Limited.
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