PMV Consumer Acquisition Corp. reported its financial results for the three and nine months ended September 30, 2024, revealing a continued focus on organizational activities and the search for business opportunities, as the company has not yet commenced operations. As of September 30, 2024, PMV held cash and cash equivalents of $1,130,295, a slight increase from $1,098,843 at the same time in 2023. Total assets decreased from $1,202,104 as of December 31, 2023, to $1,150,084, while total liabilities rose from $578,004 to $677,278 during the same period.

The company reported a net loss of $45,555 for the three months ended September 30, 2024, an improvement compared to a net loss of $67,262 for the same period in 2023. For the nine months ended September 30, 2024, the net loss was $151,294, down from $207,287 in the prior year. General and administrative expenses decreased to $50,395 for the three months ended September 30, 2024, from $57,670 in 2023, and for the nine months, expenses fell from $201,842 to $148,092.

Interest income for the three months ended September 30, 2024, was $14,480, slightly higher than $14,132 in 2023. For the nine months, interest income increased from $36,981 to $42,075. The basic net loss per share for Class A common stock was $(0.46) for the three months ended September 30, 2024, compared to $(0.67) in 2023, and $(1.51) for the nine months, down from $(2.07).

The company has undergone significant changes in its capital structure, including a reverse stock split approved by stockholders on September 29, 2023, which aimed to enhance liquidity and market price. Following this, the Class C common stock was renamed to Class A common stock. As of September 30, 2024, PMV had 73,169 shares of Class A common stock and 26,831 shares of Class B convertible common stock outstanding.

PMV Consumer Acquisition Corp. remains classified as a shell company and has not generated any revenues since its inception. The company continues to evaluate potential business opportunities and may seek loans from its Sponsor or affiliates to fund working capital needs. The company is also classified as an "emerging growth company" under the JOBS Act, allowing it to benefit from certain reporting exemptions.