PMV Consumer Acquisition Corp. Reports $156,380 Net Loss for Fiscal Year 2024

PMV Consumer Acquisition Corp., a Delaware-based shell company formed in March 2020, reported a net loss of $156,380 for the fiscal year ending December 31, 2024. This loss was primarily attributed to general and administrative expenses totaling $176,864, alongside franchise tax expenses and provisions for income taxes. The company generated interest income of $55,916 during the same period. In comparison, the previous fiscal year (2023) saw a net loss of $108,141, which included a significant change in the fair value of derivative warrant liabilities amounting to $146,020. The company has not yet engaged in any operational activities or generated revenue from business opportunities.

In terms of liquidity, PMV Consumer Acquisition Corp. reported cash and cash equivalents of $1,113,786 as of December 31, 2024. The company raised $175 million through its initial public offering (IPO) in September 2020, which was placed in a Trust Account. However, this Trust Account was fully redeemed by the end of 2022. The company anticipates using its available cash primarily for identifying and evaluating potential business opportunities, conducting due diligence, and covering operational expenses. The company has no long-term debt or capital lease obligations, but it incurs a monthly fee of $10,000 to an affiliate for administrative services.

Strategically, PMV Consumer Acquisition Corp. is focused on identifying a business opportunity within the consumer products industry, although it is not limited to any specific sector. The company has not yet completed any transactions and has no current plans for acquisitions or product launches. The management team is tasked with locating suitable business opportunities, but they face competition from other entities with similar objectives. The company has acknowledged the risks associated with its limited resources and the potential challenges in completing a transaction.

As of March 27, 2025, PMV Consumer Acquisition Corp. had one holder of record for its Class A common stock, Class B common stock, and warrants. The company has not paid any cash dividends to date and does not plan to do so until after completing a business transaction. The management has indicated that the payment of dividends in the future will depend on the company's revenues and financial condition post-transaction. The company’s securities are currently quoted on the Pink Tier of the OTC Markets Group, following its voluntary delisting from the NYSE in October 2022, which has resulted in reduced trading liquidity and market visibility.

Looking ahead, PMV Consumer Acquisition Corp. remains focused on identifying and executing a business opportunity. However, the company has highlighted the inherent risks associated with its operations, including potential conflicts of interest among management, the challenges of competing for business opportunities, and the uncertainties surrounding the completion of any transaction. The management's ability to effectively navigate these challenges will be critical to the company's future success and financial performance.