Tue, May 14, 8:01 PM (270 days ago)
PMV Consumer Acquisition Corp. reported a net loss of $77,383 for Q1 2024, compared to a net loss of $98,590 in Q1 2023. General and administrative expenses decreased significantly to $54,777 from $100,154. The company also saw a slight increase in interest income from $9,480 to $13,199. Cash and cash equivalents stood at $1,171,427 as of March 31, 2024, up from $1,072,630 at the end of 2023, primarily due to changes in operating assets and liabilities. The company has not commenced operations and generates no operating revenues, focusing instead on identifying a potential business opportunity. The balance sheet shows total assets of $1,189,466, with current liabilities at $642,749. Stockholder’s equity decreased to $543,737 from $621,120 due to accumulated deficits. Key risks include geopolitical instability, potential conflicts of interest among management, and uncertainties related to future financing needs. The company’s efforts continue to be directed towards completing a business combination.