Form 10-Q - Quarterly report [Sections 13 or 15(d)]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2024

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______________ to ______________

Commission File Number 001-41574

ALPHAVEST ACQUISITION CORP

(Exact name of registrant as specified in its charter)

Cayman Islands

N/A

(State or other jurisdiction of

incorporation or organization)

(IRS Employer

Identification No.)

420 Lexington Ave, Suite 2446

New York, NY 10170

(Address of principal executive offices and zip code)

203-998-5540

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbols	Name of Each Exchange on Which Registered
Units, each consisting of one ordinary share and one right	ATMVU	The Nasdaq Stock Market LLC
Common stock, par value $0.0001 per share	ATMV	The Nasdaq Stock Market LLC
Rights, each right entitling the holder thereof to one-tenth of one ordinary share	ATMVR	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act:

Large accelerated filer ☐	Accelerated filer ☐
Non-accelerated filer ☒	Smaller reporting company ☒
	Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☒ No ☐

As of August 19, 2024, there were 7,006,329 ordinary shares, par value $0.0001 issued and outstanding.

ALPHAVEST ACQUISITION CORP

TABLE OF CONTENTS

		Page
PART I. FINANCIAL INFORMATION

Item 1.	Financial Statements	1
	Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023	1
	Unaudited Statements of Operations	2
	Unaudited Statements of Changes in Shareholders’ Equity (Deficit)	3
	Unaudited Statements of Cash Flows	4
	Notes to Unaudited Financial Statements	5
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	15
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	17
Item 4.	Controls and Procedures	18

PART II. OTHER INFORMATION

Item 1.	Legal Proceedings	19
Item 1A.	Risk Factors	19
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds from Registered Securities	19
Item 3.	Defaults Upon Senior Securities	20
Item 4.	Mine Safety Disclosures	20
Item 5.	Other Information	20
Item 6.	Exhibits	20

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

ALPHAVEST ACQUISITION CORP

BALANCE SHEETS

	June 30, 2024			December 31, 2023
	(Unaudited)
ASSETS
Current Assets:
Cash	$	13,793		$	28,560
Prepaid expenses		55,948			34,573
Total Current Assets		69,741			63,133
Marketable securities held in trust account		51,996,909			50,880,604
Cash held in trust escrow account		165,000			-
Total Assets	$	52,231,650		$	50,943,737

LIABILITIES, REDEEMABLE ORDINARY SHARES, AND SHAREHOLDERS’ DEFICIT
Current Liabilities:
Accounts payable and accrued offering costs and expenses	$	386,512		$	213,118
Due to related party		9,837			9,837
Promissory notes – third party		236,000			-
Promissory notes – related party		311,532			165,000
Promissory notes		311,532			165,000
Total Current Liabilities		943,881			387,955

Total Liabilities		943,881			387,955

Commitments and contingencies		-			-

Ordinary shares subject to possible redemption (4,725,829 shares at $11.04 and $10.77 per share as of June 30, 2024 and December 31, 2023, respectively)		52,161,909			50,880,604

Shareholders’ Deficit:
Preferred shares, $0.0001 par value; 2,000,000 shares authorized; none issued and outstanding as of June 30, 2024 and December 31, 2023, respectively		-			-
Ordinary shares, $0.0001 par value; 200,000,000 shares authorized; 2,280,500 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively		228			228
Additional paid-in capital		-			-
Accumulated deficit		(874,368	)		(325,050	)
Total Shareholders’ Deficit		(874,140	)		(324,822	)
Total Liabilities, Redeemable Ordinary Shares, and Shareholders’ Deficit	$	52,231,650		$	50,943,737

The accompanying notes are an integral part of these financial statements.

ALPHAVEST ACQUISITION CORP

UNAUDITED STATEMENTS OF OPERATIONS

	2024			2023			2024			2023
	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Formation and operating costs	$	147,397		$	130,187		$	384,323		$	288,373
Loss from operations		(147,397	)		(130,187	)		(384,323	)		(288,373	)

Other Income (expenses):
Interest income on investments held in trust account		530,141			834,681			1,208,621			1,637,673
Unrealized loss on investments held in trust account		-			-			(92,316	)		-
Bank interest income		2			61			5			154
Total other income		530,143			834,742			1,116,310			1,637,827

Net income	$	382,746		$	704,555		$	731,987		$	1,349,454

Weighted average common stock outstanding, common stock subject to possible redemption		4,725,829			6,900,000			4,725,829			6,900,000
Basic and diluted net income per share, common stock subject to redemption	$	0.10		$	0.11		$	0.19		$	0.21
Weighted average common stock outstanding, common stock, non-redeemable		2,280,500			2,280,500			2,280,500			2,280,500
Basic and diluted net loss per share, common stock, non-redeemable	$	(0.04	)	$	(0.01	)	$	(0.08	)	$	(0.04	)

The accompanying notes are an integral part of these financial statements.

ALPHAVEST ACQUISITION CORP

UNAUDITED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (DEFICIT)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2023

	Ordinary shares		Amount		Additional paid-in capital			Retained earnings (Accumulated deficit)			Total shareholders’ equity
Balance as of January 1, 2023		2,280,500	$	228	$	596,893		$	(42,578	)	$	554,543
Accretion for ordinary shares subject to redemption amount (interest income)		-		-		(596,893	)		(244,327	)		(841,220	)
Net income		-		-		-			644,898			644,898

Balance as of March 31, 2023		2,280,500	$	228	$	-		$	357,993		$	358,221

Accretion for ordinary shares subject to redemption amount (interest income)		-		-		-			(834,681	)		(834,681	)
Net income		-		-		-			704,555			704,555

Balance as of June 30, 2023		2,280,500	$	228	$	-		$	227,867		$	228,095

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2024

	Ordinary shares		Amount		Additional paid-in capital		Accumulated deficit			Total shareholders’ deficit
Balance as of January 1, 2024		2,280,500	$	228	$	-	$	(325,050	)	$	(324,822	)
Accretion for ordinary shares subject to redemption amount (interest income)		-		-		-		(586,164	)		(586,164	)
Accretion for ordinary shares subject to redemption amount (extension deposit)		-		-		-		(55,000	)		(55,000	)
Net income		-		-		-		349,241			349,241

Balance as of March 31, 2024		2,280,500	$	228	$	-		(616,973	)		(616,745	)
Balance		2,280,500	$	228	$	-		(616,973	)		(616,745	)

Accretion for ordinary shares subject to redemption amount (interest income)		-		-		-		(530,141	)		(530,141	)
Accretion for ordinary shares subject to redemption amount (extension deposit)		-		-		-		(110,000	)		(110,000	)
Net income		-		-		-		382,746			382,746

Balance as of June 30, 2024		2,280,500	$	228	$	-	$	(874,368	)	$	(874,140	)
Balance		2,280,500	$	228	$	-	$	(874,368	)	$	(874,140	)

ALPHAVEST ACQUISITION CORP

UNAUDITED STATEMENTS OF CASH FLOWS

	Six Months Ended June 30, 2024			Six Months Ended June 30, 2023
Cash flows from operating activities:
Net income	$	731,987			1,349,454
Adjustments to reconcile net income to net cash used in operating activities:
Trust investment income		(1,208,621	)		(1,637,673	)
Unrealized loss on investments held in trust account		92,316			-
Changes in operating assets and liabilities:
Prepaid expense		75,058			48,582
Accounts payable and accrued offering costs and expenses		279,953			(198,599	)
Promissory note – related party		14,540			-
Net cash used in operating activities		(14,767	)		(438,236	)

Cash flows from investing activities:
Cash deposited to trust escrow account		(165,000	)		-
Net cash used in investing activities		(165,000	)		-

Cash flows from financing activities:
Proceeds from promissory note – related party		55,000			-
Proceeds from promissory note – third party		110,000			-
Net cash provided by financing activities		165,000			-

Net change in cash		(14,767	)		(438,236	)
Cash at beginning of period		28,560			659,035
Cash at end of period	$	13,793			220,799

Supplemental disclosure of noncash investing and financing activities
Accretion for ordinary shares subject to redemption amount	$	1,281,305		$	1,675,901
Accrued expenses converted to promissory note– related party	$	76,992		$	-
Accrued expenses converted to promissory note – third party	$	45,000		$	-
Prepaid expenses paid by promissory note – third party	$	81,000		$	-

The accompanying notes are an integral part of these financial statements.

ALPHAVEST ACQUISITION CORP

NOTES TO UNAUDITED FINANCIAL STATEMENTS

NOTE 1 -ORGANIZATION AND BUSINESS OPERATIONS

AlphaVest Acquisition Corp (the “Company”) was incorporated in the Cayman Islands on January 14, 2022. The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses (the “Business Combination”).

The Company is not limited to a particular industry or sector for purposes of consummating a Business Combination. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.

As of June 30, 2024, the Company had not commenced any operations. All activity through June 30, 2024 relates to the Company’s formation and the initial public offering (“IPO”), which is described below, and subsequent to the IPO, identifying a target company for a Business Combination. The Company will not generate any operating revenues until after the completion an initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the IPO. The Company has selected December 31 as its fiscal year end.

The registration statement for the Company’s IPO (the “Registration Statement”) was declared effective on December 19, 2022. On December 22, 2022, the Company consummated the IPO of 6,000,000 units, (“Units” and, with respect to the ordinary shares included in the Units being offered, the “Public Shares”), generating gross proceeds of $60,000,000, which is described in Note 3, and the sale of 390,000 Units (the “Private Placement Units”) at a price of $10.00 per Private Placement Unit in private placements to AlphaVest Holding LP (the “Sponsor”) that was closed simultaneously with the IPO.

Following the closing of the IPO on December 22, 2022, an amount of $61,200,000 ($10.20 per Unit) from the net proceeds of the sale of the Units in the IPO and the Private Placement (as defined in Note 4) was placed in the trust account. The funds held in the trust account may be invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the completion of a Business Combination or (ii) the distribution of the trust account, as described below.

On December 29, 2022, EarlyBirdCapital, Inc. (“EBC”) fully exercised their over-allotment option, resulting in an additional 900,000 Units issued for an aggregate amount of $9,000,000. In connection with EBC’s full exercise of their over-allotment option, the Company also consummated the sale of an additional 40,500 Private Units at $10.00 per Private Unit, generating total proceeds of $405,000.

The Company will have until the last Extended Date, December 22, 2024 to consummate a Business Combination (the “Combination Period”). However, if the Company has not completed a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned and not previously released to us to pay our taxes, if any (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then issued and outstanding Public Shares, which redemption will completely extinguish the rights of the Public Shareholders as shareholders (including the right to receive further liquidating distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining Public Shareholders and its Board of Directors, liquidate and dissolve, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law.

Extension

On December 21, 2023, the Company held a special meeting of shareholders, at which the Company’s shareholders approved (i) an amendment to the Company’s amended and restated certificate of incorporation (the “Extension Amendment”) and (ii) an amendment (the “Trust Agreement Amendment”) to the Investment Management Trust Agreement, dated December 19, 2022, with Continental Stock Transfer & Trust Company. Pursuant to the Trust Agreement Amendment, the Company has extended the date by which it has to complete a business combination from December 22, 2023 (the “Termination Date”) up to 10 times, with the first extension comprised of three months, and the subsequent 9 extensions comprised of one month each from the Termination Date, or extended date, as applicable, to December 22, 2024. In connection with the shareholders’ vote at the special meeting, an aggregate of 2,174,171 shares with redemption value of approximately $23,282,936 (approximately $10.71 per share) of the Company’s ordinary shares were tendered for redemption.

On December 21, 2023, the Company issued a promissory note to Alphavest Holding LP, one of the Sponsors, pursuant to which the Company could borrow an aggregate of $165,000 (the “Extension Note”) to cover expenses in connection with the extension of Business Combination Period. Principal of this Extension Note may be drawn down from time to time prior to the Maturity Date upon written request from the Company. On April 15, 2024, the Company amended and restated the Extension Note to increase the principal amount to $715,000 and extend the maturity date to the earlier of (i) September 12, 2024 or (ii) promptly after the date of the consummation of the business combination.

On May 2, 2024, the Company issued a promissory note to a potential target, pursuant to which the Company could borrow an aggregate of $440,000 (the “Extension Note 2”) to cover expenses in connection with the extension of Business Combination Period. Principal of this Extension Note 2 may be drawn down from time to time prior to the Maturity Date upon written request from the Company.

As of August 19, 2024, an aggregate of $440,000 was deposited into trust account and trust escrow account to extend the business combination period to August 22, 2024.

Proposed Business Combination

On August 11, 2023, the Company (at and after the Merger Effective Date, “PubCo”) entered into a business combination agreement (the “Business Combination Agreement”) with AV Merger Sub, a Cayman Islands exempted company and a direct wholly owned subsidiary of the Company (“Merger Sub”), and Wanshun Technology Industrial Group Limited, a Cayman Islands exempted company (“Wanshun”).

On March 18, 2024, the Company delivered to Wanshun a Notice of Termination of Business Combination (the “Termination”), in which the Business Combination Agreement was terminated pursuant to Section 8.1(e) of the Business Combination Agreement. The termination of the Business Combination Agreement is effective as of March 18, 2024.

For additional information regarding the Transactions, the Business Combination Agreement, Notice of Termination of Business Combination and Wanshun, see the most recent Annual Report on Form 10-K and Current Reports on Form 8-K filed by the Company with the SEC on August 14, 2023, August 17, 2023 and March 25, 2024.

On May 2, 2024, the Company issued a promissory note to a potential target (the “Extension Note 2”), pursuant to which the Company could borrow an aggregate of $440,000 to cover expenses in connection with the extension of Business Combination Period. The Extension Note 2 bears no interest. The entire unpaid principal balance of this Note shall be payable on the earlier of: (i) December 12, 2024 or (ii) promptly after the date on which Maker consummates an initial business combination. Upon receiving due notification by the Company of the closing of a business combination, potential target shall convert the unpaid principal balance under Extension Note 2 into a number of shares of non-transferable, non-redeemable, ordinary shares of the Company equal to: (x) the principal amount of this Extension Note 2 being converted, divided by (y) the conversion price of Ten Dollars ($10.00), rounded up to the nearest whole number of shares, with such conversion to be effective immediately prior to the closing the such business combination. As of June 30, 2024 and December 31, 2023, $110,000 and $0 were outstanding, respectively.

On May 2, 2024, the Company issued a promissory note to a potential target (the “Promissory Note 2”), pursuant to which the Company could borrow up to an aggregate of $126,000. The Promissory Note 2 bears no interest. The entire unpaid principal balance of this Promissory Note 2 shall be payable on the earlier of: (i) December 12, 2024 or (ii) promptly after the date on which Maker consummates an initial business combination. Upon receiving due notification by the Company of the closing of a business combination, potential target shall convert the unpaid principal balance under Promissory Note 2 into a number of shares of non-transferable, non-redeemable, ordinary shares of the Company equal to: (x) the principal amount of this Promissory Note 2 being converted, divided by (y) the conversion price of Ten Dollars ($10.00), rounded up to the nearest whole number of shares, with such conversion to be effective immediately prior to the closing the such business combination. As of June 30, 2024 and December 31, 2023, $126,000 and $0 were outstanding, respectively.

Going Concern Consideration and Management Liquidity Plans

As of June 30, 2024, the Company had cash of $13,793 and working capital deficit of $874,140. Subsequent to the consummation of the IPO, the Company expects to continue to incur significant professional costs to remain as a publicly traded company and to incur significant transaction costs in pursuit of the consummation of a Business Combination. The Company expects that it will need additional capital to satisfy its needs for paying these costs. Although certain of the Company’s initial shareholders or their affiliates may loan the Company funds, there’s no guarantee that the Company will receive such funds.

In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management believes that the Company will not have sufficient working capital to meet its needs through the earlier of the consummation of the initial Business Combination or one year from the issuance date of this financial statements. There is no assurance that the Company’s plan to consummate a business combination will be successful. If a Business Combination is not consummated by the relevant period, there will be a mandatory liquidation and subsequent dissolution. As a result, there is substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued or are available to be issued. The financial statement does not include any adjustments that might result from the outcome of the uncertainty.

Risks and Uncertainties

Management continues to evaluate the impact of the COVID-19 pandemic and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations, and/or search for a target company, the specific impact is not readily determinable as of the date of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the requirements of the U.S. Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP can be condensed or omitted. These unaudited financial statements have been prepared on the same basis as the Company’s annual financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for the fair statement of the Company’s financial information. These interim results are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2024, or for any other interim period or for any other future year.

Emerging Growth Company

The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates

The preparation of the financial statement in conformity with US GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement.

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statement, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

Cash and cash equivalents

The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had a cash balance of $13,793 and $28,560 as of June 30, 2024 and December 31, 2023, respectively.

Investments Held in Trust Account

The Company’s portfolio of investments held in the trust account is comprised of investments only in U.S. government securities with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations. The Company’s investments held in the trust account are classified as trading securities. Trading securities are presented on the balance sheet at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of investments held in trust account are included in interest earned on marketable securities held in trust account in the accompanying statements of operations. The estimated fair value of investments held in the trust account is determined using available market information. As of June 30, 2024 and December 31, 2023, the trust account had balance of $51,996,909 and $50,880,604, respectively. The interest earned from the trust account totaled $530,141 and $834,681 for three months ended June 30, 2024 and 2023, respectively, and $1,208,621 and $1,637,673 for six months ended June 30, 2024 and 2023, respectively, which were fully reinvested into the trust account as earned and unrealized gain on investments and therefore presented as an adjustment to the operating activities in the Statement of Cash Flows.

Cash held in Trust Escrow Account

As of June 30, 2024, the Company had $165,000 in cash held in the trust escrow account which not yet been deposited to Trust Account. Once deposited, the full amount will be invested in U.S. government securities with a maturity of 185 days or less or in money market funds.

Income Taxes

The Company follows the asset and liability method of accounting for income taxes under ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of June 30, 2024 and December 31, 2023. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statement.

Net Income (Loss) per Ordinary Shares

The Company complies with accounting and disclosure requirements of FASB ASC 260, Earnings Per Share. The statements of operations include a presentation of income (loss) per redeemable share and income (loss) per non-redeemable share following the two-class method of income per share. In order to determine the net income (loss) attributable to both the redeemable shares and non-redeemable shares, the Company first considered the undistributed income (loss) allocable to both the redeemable shares and non-redeemable shares and the undistributed income (loss) is calculated using the total net loss less any dividends paid. The Company then allocated the undistributed income (loss) ratably based on the weighted average number of shares outstanding between the redeemable and non-redeemable shares. Any remeasurement of the accretion to redemption value of the common shares subject to possible redemption was considered to be dividends paid to the public shareholders. As of June 30, 2024, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, diluted income (loss) per share is the same as basic income (loss) per share for the period presented.

The net income (loss) per share presented in the statements of operations is based on the following:

SCHEDULE OF NET INCOME (LOSS) PER SHARE

	2024			2023			2024			2023
	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Net income	$	382,746		$	704,555		$	731,987		$	1,349,454
Accretion of temporary equity into redemption value (interest earned)		(530,141	)		(834,681	)		(1,116,305	)		(1,675,901	)
Accretion of temporary equity into redemption value (extension deposit)		(110,000	)		-			(165,000	)		-
Net loss including accretion of equity into redemption value	$	(257,395	)	$	(130,126	)	$	(549,318	)	$	(326,447	)

Particulars	Shares			Shares			Shares			Shares			Shares			Shares			Shares			Shares
	For Three Months Ended June 30, 2024						For Six Months Ended June 30, 2024						For Three Months Ended June 30, 2023						For Six Months Ended June 30, 2023
	Redeemable			Non-Redeemable			Redeemable			Non-Redeemable			Redeemable			Non-Redeemable			Redeemable			Non-Redeemable
Particulars	Shares			Shares			Shares			Shares			Shares			Shares			Shares			Shares
Basic and diluted net income/(loss) per share:
Weighted-average shares outstanding		4,725,829			2,280,500			4,725,829			2,280,500			6,900,000			2,280,500			6,900,000			2,280,500
Ownership percentage		67	%		33	%		67	%		33	%		75	%		25	%		75	%		25	%
Numerators:
Allocation of net loss including accretion of temporary equity		(173,615	)		(101,682	)		(370,520	)		(178,798	)		(97,802	)		(32,324	)		(245,355	)		(81,092	)
Interest earned on investment held in trust account		530,141			-			1,116,305			-			834,681			-			1,675,901			-
Accretion of temporary equity into redemption value (extension deposit)		110,000			-			165,000			-			-			-			-			-
Allocation of net income/(loss)		466,526			(101,682	)		910,785			(178,798	)		736,879			(32,324	)		1,430,546			(81,092	)
Denominators:
Weighted-average shares outstanding		4,725,829			2,280,500			4,725,829			2,280,500			6,900,000			2,280,500			6,900,000			2,280,500
Basic and diluted net income/(loss) per share	$	0.10		$	(0.04	)	$	0.19		$	(0.08	)	$	0.11		$	(0.01	)	$	0.21		$	(0.04	)

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.

Fair Value of Financial Instruments

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurement,” approximates the carrying amounts represented in the balance sheet, primarily due to their short-term nature.

Ordinary Shares Subject to Possible Redemption

The Company accounts for its ordinary shares subject to possible redemption in accordance with the guidance enumerated in ASC 480 “Distinguishing Liabilities from Equity”. Ordinary shares subject to mandatory redemption is classified as a liability instrument and is measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, ordinary shares is classified as stockholders’ equity. The Company’s ordinary shares feature certain redemption rights that are considered by the Company to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, at June 30, 2024 and December 31, 2023, the ordinary shares subject to possible redemption in the amount of $52,161,909 and $50,880,604, respectively, are presented as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet.

At June 30, 2024, the ordinary shares reflected in the balance sheets are reconciled in the following table:


Ordinary shares subject to possible redemption at December 31, 2023	$	50,880,604
Plus:
Accretion for ordinary shares subject to redemption (income earned on investment held in trust account)		586,164
Accretion for ordinary shares subject to redemption (extension deposit)		55,000
Ordinary shares subject to possible redemption at March 31, 2024		51,521,768
Plus:
Accretion for ordinary shares subject to redemption (income earned on investment held in trust account)		530,141
Accretion for ordinary shares subject to redemption (extension deposit)		110,000
Ordinary shares subject to possible redemption at June 30, 2024	$	52,161,909

Convertible Promissory Note

The Company adopted the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”) and accounts for its convertible promissory notes as debt (liability) on the balance sheet. The Company’s assessment of the embedded conversion feature (see Note 1 - Organization and Business Operations) considers the derivative scope exception guidance under ASC 815 pertaining to equity classification of contracts in an entity’s own equity. The conversion feature of these promissory notes meets the definition of a derivative instrument. However, bifurcation of conversion feature from the debt host is not required because the conversion feature meets ASC 815 scope exception, as the promissory notes are convertible in shares of the Company’s common stock which is considered indexed to the Company’s own stock and classified in stockholders’ equity.

Recent Accounting Standards

Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

NOTE 3 - INITIAL PUBLIC OFFERING

Pursuant to the IPO, the Company sold 6,000,000 Units at a price of $10.00 per Unit. Each Unit consists of one share of ordinary shares and one right to receive one-tenth (1/10) of one ordinary shares upon the consummation of the Company’s initial business combination one right (“Public Right”). Ten Public Rights will entitle the holder to one share of ordinary shares (see Note 7). We will not issue fractional shares and only whole shares will trade, so unless you purchase units in multiple of tens, you will not be able to receive or trade the fractional shares underlying the rights. On December 29, 2022, EBC fully exercised their over-allotment option, resulting in an additional 900,000 Units issued for an aggregate amount of $9,000,000. See Note 1 for further details.

NOTE 4 - PRIVATE PLACEMENTS

Simultaneously with the closing of the IPO, the Company consummated the private sale of 390,000 Private Placement Units. Each Unit consists of one share of ordinary shares and one right to receive one-tenth (1/10) of one share of ordinary shares upon the consummation of the Company’s initial business combination (“Private Right”). The proceeds from the sale of the Private Placement Units were added to the net proceeds from the IPO held in the trust account. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Private Placement Units held in the trust account will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law). The Private Placement Units (including the underlying securities) will not be transferable, assignable, or salable until the completion of a Business Combination, subject to certain exceptions.

In connection with EBC’s full exercise of their over-allotment option, the Company also consummated the sale of an additional 40,500 Private Units at $10.00 per Private Unit, generating total proceeds of $405,000.

NOTE 5 - RELATED PARTIES

On February 7, 2022, the sponsor received 1,725,000 of the Company’s ordinary shares in exchange for $25,000 paid for deferred offering costs borne by the founder. Up to 225,000 of such founder shares are subject to forfeiture to the extent that EBC’s over-allotment is not exercised in full. As a result of EBC’s election to fully exercise their over-allotment option on December 29, 2022, no founder shares are currently subject to forfeiture.

On April 18, 2023, AlphaVest Holding LP, one of our sponsors, transferred an aggregate of 1,035,000 founder shares to Peace Capital Limited, our other sponsor.

The Sponsors have agreed, subject to limited exceptions, not to transfer, assign or sell any of the Founder Shares until the earlier to occur of: (A) six months after the completion of the initial Business Combination and (B) the date on which we complete a liquidation, merger, share exchange, reorganization or other similar transaction after our initial business combination that results in all of our public shareholders having the right to exchange their ordinary shares for cash, securities or other property.

As of June 30, 2024 and December 31, 2023, the amounts due to related parties were $321,369 and $174,837, respectively, which is expected to be settled upon the consummation of the business combination.

Administrative Services Agreement

Commencing on the date the Units are first listed on the Nasdaq, the Company has agreed to pay TenX Global Capital LP a total of $10,000 per month for office space, utilities and secretarial and administrative support. Upon completion of the Initial Business Combination or the Company’s liquidation, the Company will cease paying these monthly fees. For three months and six months ended June 30, 2024, the Company incurred $30,000 and $60,000 in fees respectively for these services. As of June 30, 2024, the amount outstanding was $73,871. For three months and six months ended June 30, 2023, the Company incurred $30,000 and $60,000 in fees respectively for these services.

Promissory Notes - Related Party

On June 3, 2022, the Company issued an unsecured promissory note to the Sponsor (the “Promissory Note”), pursuant to which the Company could borrow up to an aggregate of $150,000 to cover expenses related to the IPO. On April 11, 2024, the Company amended and restated the Promissory Note with AlphaVest Holding LP to extend the maturity date to the earlier of: (i) September 12, 2024 or (ii) promptly after the date of the consummation of the business combination. As of June 30, 2024 and December 31, 2023, $0 was outstanding.

On December 21, 2023, Alphavest Holding LP, one of the Sponsor, agreed to loan the Company $165,000 (as amended and restated, the “Extension Note”) to cover expenses in connection with extensions of Business Combination Period. The Extension Note is unsecured, interest-free and payable on the earlier of: (i) March 22, 2024 or (ii) promptly after the date on which the Company consummates a Business Combination (such earlier date, the “Maturity Date”). The Company may request, from time to time, up to $715,000 in drawdowns under this Extension Note to be used for extension payments related to the Company’s Business Combination. Principal of this Extension Note may be drawn down from time to time prior to the Maturity Date upon written request from the Company. On April 15, 2024, the Company amended and restated the Extension Note with AlphaVest Holding LP to increase the principal amount to $715,000 extend the maturity date to the earlier of: (i) September 12, 2024 or (ii) promptly after the date of the consummation of the business combination. As of June 30, 2024 and December 31, 2023, $220,000 and $165,000 were outstanding respectively.

On March 12, 2024, the Company issued a promissory note to TenX Global Capital LP (the “Promissory Note 1”), pursuant to which the Company could borrow up to an aggregate of $400,000. The entire unpaid principal balance of this Note shall be payable on the earlier of: (i) September 12, 2024 (six (6) months from the issuing of this Note) or (ii) promptly after the date on which Maker consummates an initial business combination (a “Business Combination”) (such earlier date, the “Maturity Date”) (as described in its initial public offering prospectus dated December 19, 2022 (the “Prospectus”)). As of June 30, 2024 and December 31, 2023, $91,532 and $0 were outstanding, respectively.

Website Service

On February 22, 2024 and 2023, the Company has agreed to pay TenX Global Capital LP a total of $537 and $784 for annual website service, respectively. For three months ended June 30, 2024 and 2023, the Company incurred $134 and $159 in fees for these services, respectively. For six months ended June 30, 2024 and 2023, the Company incurred $291 and $238 in fees for these services, respectively.

NOTE 6 - COMMITMENTS AND CONTINGENCY

Registration Rights

The holders of the Founder Shares, ordinary shares issued to EBC, Private Placement Units and Units that may be issued upon conversion of Working Capital Loans (and all underlying securities) will be entitled to registration rights pursuant to a registration rights agreement signed prior to or on the effective date of Proposed Public Offering requiring the Company to register such securities for resale. The holders of these securities will be entitled to make up to three demands, excluding short form registration demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to completion of a Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that the Company will not be required to effect or permit any registration or cause any registration statement to become effective until the securities covered thereby are released from their lock-up restrictions. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriting Agreement

The Company and EBC signed an engagement letter which was amended on September 15, 2022, pursuant to which, the Company will grant EBC 45-day option from the date of Proposed Public Offering to purchase up to 900,000 additional Units to cover over-allotments, if any, at the Proposed Public Offering price less the underwriting discounts and commissions. On December 29, 2022, EBC fully exercised the over-allotment. EBC was paid a cash underwriting discount of $1,725,000 in the aggregate.

Business Combination Marketing Agreement

The Company has engaged EBC as an advisor in connection with its Business Combination to assist in holding meetings with the Company stockholders to discuss the potential Business Combination and the target business’ attributes, introduce the Company to potential investors that are interested in purchasing its securities in connection with its initial Business Combination and assist with press releases and public filings in connection with the Business Combination. The Company will pay EBC a cash fee for such services upon the consummation of its initial business combination in an amount equal to 3.5% of the gross proceeds of the IPO, or $2,415,000 in aggregate. In addition, the Company will pay EBC a cash fee in an amount equal to 1.0% of the total consideration payable in the initial Business Combination if it introduces the Company to the target business with whom it completes an initial Business Combination.

NOTE 7 - SHAREHOLDERS’ EQUITY

Preference Shares - The Company is authorized to issue 2,000,000 preference shares with a par value of $0.0001 per share with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. As of June 30, 2024, there were no shares of preference shares issued or outstanding.

Ordinary Shares - The Company is authorized to issue 200,000,000 ordinary shares with a par value of $0.0001 per share Holders of ordinary shares are entitled to one vote for each share.

On February 7, 2022, the Sponsor received 1,725,000 shares of the Company’s ordinary shares in exchange for $25,000 paid for deferred offering costs borne by the Founder. Out of the 1,725,000 ordinary shares, an aggregate of up to 225,000 ordinary shares were subject to forfeiture to the extent that the over-allotment option is not exercised in full or in part so that the number of Founder Shares will equal 20% of the Company’s issued and outstanding ordinary shares after the Public Offering (excluding Private Shares).

On July 11, 2022, EBC received an aggregate of 125,000 ordinary shares (“EBC Founder Shares”) for an aggregate purchase price of $1,750, or approximately $0.014 per share. The Company estimated the fair value of the EBC founder shares to be $1,812 based upon the price of the founder shares issued to the Sponsor. The holders of the EBC founder shares have agreed not to transfer, assign or sell any such shares until the completion of a Business Combination. In addition, the holders have agreed (i) to waive their conversion rights (or right to participate in any tender offer) with respect to such shares in connection with the completion of a Business Combination and (ii) to waive their rights to liquidating distributions from the trust account with respect to such shares if the Company fails to complete a Business Combination within the Combination Period.

On December 22, 2022, the Sponsor and EBC received an aggregate of 390,000 private units (365,000 private units purchased by the Sponsor and 25,000 private units purchased by EBC) at a price of $10.00 per unit for a total purchase price of $3,900,000 in a private placement.

On December 29, 2022, as a result of the EBC’s election to fully exercise their over-allotment option, the Sponsor and EBC received additional 40,500 private units on a pro rata basis (37,904 private units purchased by the Sponsor and 2,596 private units purchased by EBC) at a price of $10.00 per unit.

As of June 30, 2024 and December 31, 2023, there were 2,280,500 ordinary shares issued and outstanding, excluding 4,725,829 ordinary shares subject to possible redemption which are presented as temporary equity as of June 30, 2024 and December 31, 2023.

Rights - Except in cases where the Company is not the surviving company in a business combination, each holder of a right will automatically receive one-tenth (1/10) of one share of ordinary shares upon consummation of a Business Combination. The Company will not issue fractional shares in connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of Cayman law. In the event the Company is not the surviving company upon completion of the Business Combination, each holder of a right will be required to affirmatively convert his, her or its rights in order to receive the one-tenth (1/10) of one ordinary shares underlying each right upon consummation of the Business Combination. If the Company is unable to complete a Business Combination within the required time period and the Company redeems the public shares for the funds held in the trust account, holders of rights will not receive any of such funds for their rights and the rights will expire worthless.

NOTE 8 - FAIR VALUE MEASUREMENTS

The Company follows the guidance in ASC 820 for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period and non-financial assets and liabilities that are re-measured and reported at fair value at least annually.

The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities:

Level 1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active.

Level 3: Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability.

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at June 30, 2024 and December 31, 2023. and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value. At June 30, 2024, the Company has recognized the unrealizes loss of $92,316.

Date	Trading Securities	Level		Fair Value
June 30, 2024	Marketable securities held in the trust account		1	$	51,996,909

December 31, 2023	Marketable securities held in the trust account		1	$	50,880,604

NOTE 9 - SUBSEQUENT EVENTS

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were available to be issued. Based upon this review, the Company identified the following subsequent event that is required disclosure in the financial statements.

On August 16, 2024, the Company entered into a business combination agreement (the “Merger Agreement”) with AV Merger Sub, wholly owned subsidiary of the Company (“Merger Sub”), and AMC Corporation, a Washington corporation (“AMC”). Upon the terms and subject to the conditions of the Merger Agreement, an in accordance with applicable law, Merger Sub will merge with AMC, with AMC surviving the merger as a wholly owned subsidiary of the Company.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

References to the “Company,” “our,” “us” or “we” refer to AlphaVest Acquisition Corp. The following discussion and analysis of the Company’s financial condition and results of operations should be read in conjunction with the unaudited financial statements and the notes related thereto. Certain information contained in the discussion and analysis set forth below includes forward-looking statements. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of many factors.

Overview

We were incorporated in the Cayman Islands on January 14, 2022 for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While we intend to focus our search on businesses in Asia, we are not limited to a particular industry or geographic region for purposes of consummating an initial business combination. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target. We intend to effectuate our initial business combination using cash from the proceeds of this offering and the private placement of the private units, the proceeds of the sale of our securities in connection with our initial business combination, our shares, debt or a combination of cash, stock and debt.

We expect to continue to incur significant costs in the pursuit of our acquisition plans. We cannot assure you that our plans to complete a Business Combination will be successful.

Results of Operations

We have neither engaged in any operations nor generated any revenues to date. Our only activities since inception through June 30, 2024 were organizational activities, those necessary to prepare for the IPO described below and identifying a target company for our initial Business Combination. We do not expect to generate any operating revenues until after the completion of our initial Business Combination. We expect to generate non-operating income in the form of interest income on marketable securities held after the IPO. We expect that we will incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses in connection with searching for, and completing, a Business Combination.

For three months ended June 30, 2024, we had a net income of $382,746, which consists of interest earned on marketable securities held in Trust Account and bank interest income of $530,143, offset by formation and operating costs of $147,397.

For six months ended June 30, 2024, we had a net income of $731,987, which consists of interest earned on marketable securities held in Trust Account and bank interest income of $1,208,626, offset by formation and operating costs of $384,323 and unrealized loss on the investment of $92,316.

For three months ended June 30, 2023, we had a net income of $704,555, which consists of interest earned on marketable securities held in Trust Account and bank interest income of $834,742, offset by formation and operating costs of $130,187.

For six months ended June 30, 2023, we had a net income of $1,349,454, which consists of interest earned on marketable securities held in Trust Account and bank interest income of $1,637,827, offset by formation and operating costs of $288,373.

Liquidity, Capital Resources, and Going Concern

On December 22, 2022, we consummated the Initial Public Offering of 6,000,000 Units and, with respect to the ordinary shares included in the Units sold, the Public Shares at $10.00 per Unit, generating gross proceeds of $60,000,000. Simultaneously with the closing of the Initial Public Offering, we consummated the sale of 390,000 Private Units at a price of $10.00 per Private Unit in a private placement to the Sponsor and EBC (365,000 private units to Sponsor and 25,000 private units to EBC), generating gross proceeds of $3,900,000.

On December 29, 2022, EBC fully exercised their over-allotment option, resulting in an additional 900,000 Units issued for an aggregate amount of $9,000,000. In connection with the EBC’s full exercise of their over-allotment option, the Company also consummated the sale of an additional 40,500 Private Units at $10.00 per Private Unit, generating total proceeds of $405,000.

Following the full exercise of over-allotment option, and the sale of the Private Units, an amount of $70,380,000 ($10.20 per Unit) was placed in the trust account. The funds held in the Trust Account may be invested in U.S. government securities with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a money market fund selected by us. We intend to use substantially all of the funds held in the trust account, including any amounts representing interest earned on the trust account, to complete our initial business combination. To the extent that our capital stock or debt is used, in whole or in part, as consideration to complete our initial business combination, the remaining proceeds held in the trust account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.

As of June 30, 2024, we had marketable securities held in the trust account of $51,996,909 (including $4,734,845 of interest income as of June 30, 2024) consisting of U.S. Treasury Bills with a maturity of 185 days or less. Interest income on the balance in the trust account may be used by us to pay taxes. Through June 30, 2024, we have not withdrawn any interest earned from the trust account.

As of June 30, 2024, we had cash of $13,793 and a working capital deficit of $874,140. On May 2, 2024, we issued a promissory note to a potential target in the aggregate principal amount of $126,000, to be used, in part, for operating costs.

In order to fund working capital deficiencies or finance transaction costs in connection with an intended initial business combination, our Sponsor or an affiliate of our Sponsor or certain of our officers and directors may, but are not obligated to, loan us funds on a non-interest bearing basis as may be required. If we complete our initial business combination, we would repay such loaned amounts. In the event that our initial business combination does not close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts but no proceeds from our trust account would be used for such repayment. Other than as described above, the terms of such loans by our officers and directors, if any, have not been determined and no written agreements exist with respect to such loans. We do not expect to seek loans from parties other than our Sponsor or an affiliate of our Sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account.

If our estimates of the costs of identifying a target business, undertaking in-depth due diligence and negotiating an initial business combination are less than the actual amount necessary to do so, we may have insufficient funds available to operate our business prior to our initial business combination. Moreover, we may need to obtain additional financing either to complete our initial business combination or because we become obligated to redeem a significant number of our Public Shares upon completion of our initial business combination, in which case we may issue additional securities or incur debt in connection with such business combination. In addition, we are targeting businesses larger than we could acquire with the net proceeds of the IPO and the sale of the Private Units, and may as a result be required to seek additional financing to complete such proposed initial business combination. Subject to compliance with applicable securities laws, we would only complete such financing simultaneously with the completion of our initial business combination. If we are unable to complete our initial business combination because we do not have sufficient funds available to us, we will be forced to cease operations and liquidate the trust account. In addition, following our initial business combination, if cash on hand is insufficient, we may need to obtain additional financing in order to meet our obligations.

There is no assurance that our plans to consummate a business combination will be successful within the combination period. As a result, there is substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued or are available to be issued.

In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management believes that the Company will not have sufficient working capital to meet its needs through the earlier of the consummation of the initial Business Combination or one year from the issuance date of this financial statements. There is no assurance that the Company’s plan to consummate a business combination will be successful. As a result, there is substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued or are available to be issued. The financial statements do not include any adjustments that might result from the outcome of the uncertainty.

Off-Balance Sheet Financing Arrangements

We have no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of June 30, 2024. We do not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial assets.

Related Party Transactions

On June 3, 2022, the Company entered into an unsecured promissory note with AlphaVest Holding LP (the “Promissory Note”), pursuant to which the Company could borrow up to an aggregate of $150,000 to cover expenses related to the IPO. On April 11, 2024, the Company amended and restated the Promissory Note with AlphaVest Holding LP to extend the maturity date to the earlier of : (i) September 12, 2024 or (ii) promptly after the date of the consummation of the business combination. As of June 30, 2024 and December 31, 2023, $0 was outstanding.

On April 18, 2023, AlphaVest Holding LP, one of our sponsors, transferred an aggregate of 1,035,000 founder shares to Peace Capital Limited, our other sponsor.

On December 21, 2023, the Company issued a promissory note to Alphavest Holding LP, one of the Sponsors, pursuant to which the Company could borrow an aggregate of $165,000 (the “Extension Note”) to cover expenses in connection with the extension of Business Combination Period. The Extension Note is unsecured, interest-free and payable on the earlier of: (i) March 22, 2024 or (ii) promptly after the date on which the Company consummates a Business Combination (such earlier date, the “Maturity Date”). Principal of this Extension Note may be drawn down from time to time prior to the Maturity Date upon written request from the Company. On April 15, 2024, we amended and restated the Extension Note to increase the principal amount to $715,000 and extend the maturity date to the earlier of: (i) September 12, 2024 or (ii) promptly after the date of the consummation of the business combination. As of June 30, 2024, $220,000 were outstanding.

Other Contractual Obligations

We do not have any long-term debt, capital lease obligations, operating lease obligations or long-term liabilities reflected on our balance sheet.

Registration Rights

The holders of the Founder Shares, EBC founder shares, Private Placement Units will be entitled to registration rights pursuant to a registration rights agreement dated July 11, 2023 requiring the Company to register such securities for resale. Subject to certain limitations set forth in such agreement, the holders of these securities will be entitled to make up to three demands, excluding short form registration demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to completion of a Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that the Company will not be required to effect or permit any registration or cause any registration statement to become effective until the securities covered thereby are released from their lock-up restrictions. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Business Combination Marketing Agreement

We have engaged EBC as an advisor in connection with its Business Combination to assist in holding meetings with the Company stockholders to discuss the potential Business Combination and the target business’ attributes, introduce the Company to potential investors that are interested in purchasing its securities in connection with its initial Business Combination and assist with press releases and public filings in connection with the Business Combination. The Company will pay EBC a service fee for such services upon the consummation of its initial Business Combination in an amount equal to 3.5% of the gross proceeds of the IPO. In addition, the Company will pay EBC a service fee in an amount equal to 1.0% of the total consideration payable in the initial Business Combination if it introduces the Company to the target business with whom it completes an initial Business Combination and the amount will be payable in cash and is due at the closing date of the initial Business Combination.

Critical Accounting Policies and Estimates

The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and income and expenses during the periods reported. Actual results could materially differ from those estimates. We have not identified any critical accounting estimates and all the significant accounting policies are described in the Note 2 of this reviewed financial statements.

Recent Accounting Standards

Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on our financial statements.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information otherwise required under this item.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure. Our management evaluated, with the participation of our current chief executive officer and chief financial officer (our “Certifying Officers”), the effectiveness of our disclosure controls and procedures as of June 30, 2024, pursuant to Rule 13a-15(b) under the Exchange Act. Based upon that evaluation, our Certifying Officers concluded that, as of June 30, 2024, our disclosure controls and procedures were effective.

We do not expect that our disclosure controls and procedures will prevent all errors and all instances of fraud. Disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the disclosure controls and procedures are met. Further, the design of disclosure controls and procedures must reflect the fact that there are resource constraints, and the benefits must be considered relative to their costs. Because of the inherent limitations in all disclosure controls and procedures, no evaluation of disclosure controls and procedures can provide absolute assurance that we have detected all our control deficiencies and instances of fraud, if any. The design of disclosure controls and procedures also is based partly on certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.

Management’s Report on Internal Controls Over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as that term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) and for our assessment of the effectiveness of internal control over financial reporting. Our internal control over financial reporting is a process designed under the supervision of our Chief Executive Officer and our Chief Financial Officer, and effected by our Board, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the financial statements for external purposes in accordance with U.S. generally accepted accounting principles and includes those policies and procedures that: (1) pertain to the maintenance of records that in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Our management, including our Chief Executive Officer and Chief Financial Officer, has conducted an assessment regarding the effectiveness of our internal control over financial reporting as of June 30, 2024, based on the framework established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on our assessment under the criteria described above, management has concluded that our internal control over financial reporting was effective as of June 30, 2024.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) during the most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 1A. RISK FACTORS

Factors that could cause our actual results to differ materially from those in this Quarterly Report are any of the risks described in (i) our final prospectus for our Initial Public Offering filed with the SEC on May 10, 2022, and (ii) our annual report on Form 10-K filed with the SEC on April 16, 2024. Any of these factors could result in a significant or material adverse effect on our results of operations or financial condition. Additional risk factors not presently known to us or that we currently deem immaterial may also impair our business or results of operations. As of the date of this Quarterly Report, there have been no material changes to the risk factors disclosed in (i) our final prospectus for our Initial Public Offering filed with the SEC on May 10, 2022 or (ii) our annual report on Form 10-K filed with the SEC on April 16, 2024, except we may disclose changes to such factors or disclose additional factors from time to time in our future filings with the SEC.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Unregistered Sales of Equity Securities

On February 7, 2022, our sponsor acquired 1,725,000 founder shares for an aggregate purchase price of $25,000. We also issued an aggregate of 125,000 EBC founder shares to EBC on July 11, 2022 for an aggregate purchase price of $1,750.

Simultaneously with the closing of the IPO, pursuant to the Private Placement Unit Purchase Agreement, the Company completed the private sale of 365,000 units (the “Private Placement Units”) to the Sponsor and 25,000 Private Placement Units to EBC at a purchase price of $10.00 per Private Placement Unit, generating gross proceeds to the Company of $3,900,000. The Private Placement Units are identical to the Units sold in the IPO. No underwriting discounts or commissions were paid with respect to such sale. The issuance of the Private Placement Units was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended. No underwriting discounts or commissions were paid with respect to such sale. The issuance of the Private Placement Units was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended. On December 29, 2022, simultaneously with the sale of the over-allotment Units, the Company consummated the private sale of an additional 37,904 Private Placement Units to the Sponsor and 2,596 Private Placements to EBC, generating additional gross proceeds of $405,000.

Use of Proceeds

On December 22, 2022, the Company consummated the initial public offering of 6,000,000 Units (the “Units” and, with respect to the common stock included in the Units sold, the “Public Shares”), including 900,000 Units that were issued pursuant to the underwriters’ exercise of their over-allotment option in full on December 29, 2022, at $10.00 per Unit, generating gross proceeds of $73,305,000.

Simultaneously with the closing of the initial public offering, we consummated the sale of 365,000 Private Placement Units to the Sponsor and 25,000 Private Placement Units to EBC at a purchase price of $10.00 per Private Placement Unit, generating gross proceeds to the Company of $3,900,000. On December 29, 2022, simultaneously with the sale of the over-allotment Units, the Company consummated the private sale of an additional 37,904 Private Placement Units to the Sponsor and 2,596 Private Placements to EBC, generating additional gross proceeds of $405,000.

The underwriter was paid a cash underwriting discount of $0.20 per Unit, or $1,725,000 in the aggregate upon the closing of the Initial Public Offering.

On June 3, 2022, we issued an unsecured promissory note to our Sponsor (the “Promissory Note”), pursuant to which we received proceeds of $150,000 to cover expenses related to the initial public offering. The Promissory Note expired on the consummation of the IPO.

Transaction costs related to the issuances described above amounted to $3,734,629 consisting of $1,725,000 of underwriting fees, $629,929 of other offering costs, and $1,425,000 to trust account. After deducting the underwriting discounts and commissions and offering expenses, the total net proceeds from the initial public offering and the sale of the Private Placement Units $71,030,000 (or $10.20 per share sold in the initial public offering) was placed in the Trust Account.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS

The following exhibits are filed as part of, or incorporated by reference into, this Quarterly Report on Form 10-Q.

Exhibit No.		Description
31.1*		Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*		Certification of Principal Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1**		Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2**		Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS		Inline XBRL Instance Document
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.SCH		Inline XBRL Taxonomy Extension Schema Document
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		Inline XBRL Taxonomy Extension Labels Linkbase Document
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

* Filed herewith.

**These certifications are furnished to the SEC pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

ALPHAVEST ACQUISITION CORP

By:	/s/ Yong (David) Yan
Name:	Yong (David) Yan
Title:	Principal Executive Officer

Pursuant to the requirements of the Securities Act of 1933, as amended, this Quarterly Report has been signed below by the following persons in the capacities and on the dates indicated.

Signature	Position	Date

/s/Yong (David) Yan	Principal Executive Officer and Director	August 19, 2024
Yong (David) Yan	(Principal Executive Officer)

/s/ Song (Steve) Jing	Principal Financial Officer	August 19, 2024
Song (Steve) Jing	(Principal Financial Officer and Principal Accounting Officer)

/s/ Pengfei Zheng	Chairman	August 19, 2024
Pengfei Zheng

Exhibit 31.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO RULES 13a-14(a) AND 15d-

14(a) UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION

302 OF THE SARBANES-OXLEY ACT OF 2002

I, Yong (David) Yan, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q of AlphaVest Acquisition Corp;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	(c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	(d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

	(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 19, 2024	By:	/s/ Yong (David) Yan
		Yong (David) Yan
		Chief Executive Officer
		(Principal Executive Officer)

Exhibit 31.2

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER PURSUANT TO RULES 13a-14(a) AND 15d-

14(a) UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION

302 OF THE SARBANES-OXLEY ACT OF 2002

I, Song (Steve) Jing, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q of AlphaVest Acquisition Corp;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	(c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	(d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

	(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 19, 2024	By:	/s/ Song (Steve) Jing
		Song (Steve) Jing
		Chief Financial Officer
		(Principal Financial Officer)

Exhibit 32.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of AlphaVest Acquisition Corp (the “Registrant”) on Form 10-Q for the quarter ended June 30, 2024 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I certify, in the capacity and on the date indicated below, pursuant to 18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

	(1)	The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

	(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: August 19, 2024	By:	/s/ Yong (David) Yan
		Yong (David) Yan
		Chief Executive Officer
		(Principal Executive Officer)

Exhibit 32.2

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

	(1)	The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

	(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: August 19, 2024	By:	/s/ Song (Steve) Jing
		Song (Steve) Jing
		Chief Financial Officer
		(Principal Financial and Accounting Officer)

Cover - $ / shares	6 Months Ended
Cover - $ / shares	Jun. 30, 2024	Aug. 19, 2024
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	001-41574
Entity Registrant Name	ALPHAVEST ACQUISITION CORP
Entity Central Index Key	0001937891
Entity Tax Identification Number	00-0000000
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	420 Lexington Ave
Entity Address, Address Line Two	Suite 2446
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10170
City Area Code	203
Local Phone Number	998-5540
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		7,006,329
Entity Listing, Par Value Per Share	$ 0.0001
Units, each consisting of one ordinary share and one right
Title of 12(b) Security	Units, each consisting of one ordinary share and one right
Trading Symbol	ATMVU
Security Exchange Name	NASDAQ
Common stock, par value $0.0001 per share
Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	ATMV
Security Exchange Name	NASDAQ
Rights, each right entitling the holder thereof to one-tenth of one ordinary share
Title of 12(b) Security	Rights, each right entitling the holder thereof to one-tenth of one ordinary share
Trading Symbol	ATMVR
Security Exchange Name	NASDAQ

Balance Sheets - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current Assets:
Cash	$ 13,793	$ 28,560
Prepaid expenses	55,948	34,573
Total Current Assets	69,741	63,133
Marketable securities held in trust account	51,996,909	50,880,604
Cash held in trust escrow account	165,000
Total Assets	52,231,650	50,943,737
Current Liabilities:
Accounts payable and accrued offering costs and expenses	386,512	213,118
Due to related party	9,837	9,837
Total Current Liabilities	943,881	387,955
Total Liabilities	943,881	387,955
Commitments and contingencies
Ordinary shares subject to possible redemption (4,725,829 shares at $11.04 and $10.77 per share as of June 30, 2024 and December 31, 2023, respectively)	52,161,909	50,880,604
Shareholders’ Deficit:
Preferred shares, $0.0001 par value; 2,000,000 shares authorized; none issued and outstanding as of June 30, 2024 and December 31, 2023, respectively
Ordinary shares, $0.0001 par value; 200,000,000 shares authorized; 2,280,500 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively	228	228
Additional paid-in capital
Accumulated deficit	(874,368)	(325,050)
Total Shareholders’ Deficit	(874,140)	(324,822)
Total Liabilities, Redeemable Ordinary Shares, and Shareholders’ Deficit	52,231,650	50,943,737
Nonrelated Party [Member]
Current Liabilities:
Promissory notes	236,000
Related Party [Member]
Current Liabilities:
Promissory notes	$ 311,532	$ 165,000

Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Temproary equity, redemption shares	4,725,829	4,725,829
Temproary equity, redemption price per share	$ 11.04	$ 10.77
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	2,280,500	2,280,500
Common stock, shares outstanding	2,280,500	2,280,500

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
Statements of Operations (Unaudited) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Formation and operating costs	$ 147,397	$ 130,187	$ 384,323	$ 288,373
Loss from operations	(147,397)	(130,187)	(384,323)	(288,373)
Other Income (expenses):
Interest income on investments held in trust account	530,141	834,681	1,208,621	1,637,673
Unrealized loss on investments held in trust account			(92,316)
Bank interest income	2	61	5	154
Total other income	530,143	834,742	1,116,310	1,637,827
Net income	$ 382,746	$ 704,555	$ 731,987	$ 1,349,454
Redeemable Common Stock [Member]
Other Income (expenses):
Weighted average common stock outstanding, Basic	4,725,829	6,900,000	4,725,829	6,900,000
Weighted average common stock outstanding, Diluted	4,725,829	6,900,000	4,725,829	6,900,000
Basic net income per share	$ 0.10	$ 0.11	$ 0.19	$ 0.21
Diluted net income per share	$ 0.10	$ 0.11	$ 0.19	$ 0.21
Non redeemable Common Stock [Member]
Other Income (expenses):
Weighted average common stock outstanding, Basic	2,280,500	2,280,500	2,280,500	2,280,500
Weighted average common stock outstanding, Diluted	2,280,500	2,280,500	2,280,500	2,280,500
Basic net income per share	$ (0.04)	$ (0.01)	$ (0.08)	$ (0.04)
Diluted net income per share	$ (0.04)	$ (0.01)	$ (0.08)	$ (0.04)

Statements of Changes in Shareholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2022	$ 228	$ 596,893	$ (42,578)	$ 554,543
Balance, shares at Dec. 31, 2022	2,280,500
Accretion for ordinary shares subject to redemption amount (interest income)		(596,893)	(244,327)	(841,220)
Net income			644,898	644,898
Balance at Mar. 31, 2023	$ 228		357,993	358,221
Balance, shares at Mar. 31, 2023	2,280,500
Balance at Dec. 31, 2022	$ 228	596,893	(42,578)	554,543
Balance, shares at Dec. 31, 2022	2,280,500
Net income				1,349,454
Balance at Jun. 30, 2023	$ 228		227,867	228,095
Balance, shares at Jun. 30, 2023	2,280,500
Balance at Mar. 31, 2023	$ 228		357,993	358,221
Balance, shares at Mar. 31, 2023	2,280,500
Accretion for ordinary shares subject to redemption amount (interest income)			(834,681)	(834,681)
Net income			704,555	704,555
Balance at Jun. 30, 2023	$ 228		227,867	228,095
Balance, shares at Jun. 30, 2023	2,280,500
Balance at Dec. 31, 2023	$ 228		(325,050)	(324,822)
Balance, shares at Dec. 31, 2023	2,280,500
Accretion for ordinary shares subject to redemption amount (interest income)			(586,164)	(586,164)
Net income			349,241	349,241
Accretion for ordinary shares subject to redemption amount (extension deposit)			(55,000)	(55,000)
Balance at Mar. 31, 2024	$ 228		(616,973)	(616,745)
Balance, shares at Mar. 31, 2024	2,280,500
Balance at Dec. 31, 2023	$ 228		(325,050)	(324,822)
Balance, shares at Dec. 31, 2023	2,280,500
Net income				731,987
Balance at Jun. 30, 2024	$ 228		(874,368)	(874,140)
Balance, shares at Jun. 30, 2024	2,280,500
Balance at Mar. 31, 2024	$ 228		(616,973)	(616,745)
Balance, shares at Mar. 31, 2024	2,280,500
Accretion for ordinary shares subject to redemption amount (interest income)			(530,141)	(530,141)
Net income			382,746	382,746
Accretion for ordinary shares subject to redemption amount (extension deposit)			(110,000)	(110,000)
Balance at Jun. 30, 2024	$ 228		$ (874,368)	$ (874,140)
Balance, shares at Jun. 30, 2024	2,280,500

Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
Statements of Cash Flows (Unaudited) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 731,987	$ 1,349,454
Adjustments to reconcile net income to net cash used in operating activities:
Trust investment income	(1,208,621)	(1,637,673)
Unrealized loss on investments held in trust account	92,316
Changes in operating assets and liabilities:
Prepaid expense	75,058	48,582
Accounts payable and accrued offering costs and expenses	279,953	(198,599)
Promissory note – related party	14,540
Net cash used in operating activities	(14,767)	(438,236)
Cash flows from investing activities:
Cash deposited to trust escrow account	(165,000)
Net cash used in investing activities	(165,000)
Cash flows from financing activities:
Proceeds from promissory note – related party	55,000
Proceeds from promissory note – third party	110,000
Net cash provided by financing activities	165,000
Net change in cash	(14,767)	(438,236)
Cash at beginning of period	28,560	659,035
Cash at end of period	13,793	220,799
Supplemental disclosure of noncash investing and financing activities
Accretion for ordinary shares subject to redemption amount	1,281,305	1,675,901
Accrued expenses converted to promissory note– related party	76,992
Accrued expenses converted to promissory note – third party	45,000
Prepaid expenses paid by promissory note – third party	$ 81,000

ORGANIZATION AND BUSINESS OPERATIONS

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

ORGANIZATION AND BUSINESS OPERATIONS

NOTE 1 -ORGANIZATION AND BUSINESS OPERATIONS

Extension

As of August 19, 2024, an aggregate of $440,000 was deposited into trust account and trust escrow account to extend the business combination period to August 22, 2024.

Proposed Business Combination

Going Concern Consideration and Management Liquidity Plans

Risks and Uncertainties

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

Emerging Growth Company

Use of Estimates

Cash and cash equivalents

Investments Held in Trust Account

Cash held in Trust Escrow Account

Income Taxes

Net Income (Loss) per Ordinary Shares

The net income (loss) per share presented in the statements of operations is based on the following:

SCHEDULE OF NET INCOME (LOSS) PER SHARE

	2024			2023			2024			2023
	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Net income	$	382,746		$	704,555		$	731,987		$	1,349,454
Accretion of temporary equity into redemption value (interest earned)		(530,141	)		(834,681	)		(1,116,305	)		(1,675,901	)
Accretion of temporary equity into redemption value (extension deposit)		(110,000	)		-			(165,000	)		-
Net loss including accretion of equity into redemption value	$	(257,395	)	$	(130,126	)	$	(549,318	)	$	(326,447	)

Particulars	Shares			Shares			Shares			Shares			Shares			Shares			Shares			Shares
	For Three Months Ended June 30, 2024						For Six Months Ended June 30, 2024						For Three Months Ended June 30, 2023						For Six Months Ended June 30, 2023
	Redeemable			Non-Redeemable			Redeemable			Non-Redeemable			Redeemable			Non-Redeemable			Redeemable			Non-Redeemable
Particulars	Shares			Shares			Shares			Shares			Shares			Shares			Shares			Shares
Basic and diluted net income/(loss) per share:
Weighted-average shares outstanding		4,725,829			2,280,500			4,725,829			2,280,500			6,900,000			2,280,500			6,900,000			2,280,500
Ownership percentage		67	%		33	%		67	%		33	%		75	%		25	%		75	%		25	%
Numerators:
Allocation of net loss including accretion of temporary equity		(173,615	)		(101,682	)		(370,520	)		(178,798	)		(97,802	)		(32,324	)		(245,355	)		(81,092	)
Interest earned on investment held in trust account		530,141			-			1,116,305			-			834,681			-			1,675,901			-
Accretion of temporary equity into redemption value (extension deposit)		110,000			-			165,000			-			-			-			-			-
Allocation of net income/(loss)		466,526			(101,682	)		910,785			(178,798	)		736,879			(32,324	)		1,430,546			(81,092	)
Denominators:
Weighted-average shares outstanding		4,725,829			2,280,500			4,725,829			2,280,500			6,900,000			2,280,500			6,900,000			2,280,500
Basic and diluted net income/(loss) per share	$	0.10		$	(0.04	)	$	0.19		$	(0.08	)	$	0.11		$	(0.01	)	$	0.21		$	(0.04	)

Concentration of Credit Risk

Fair Value of Financial Instruments

Ordinary Shares Subject to Possible Redemption

At June 30, 2024, the ordinary shares reflected in the balance sheets are reconciled in the following table:


Ordinary shares subject to possible redemption at December 31, 2023	$	50,880,604
Plus:
Accretion for ordinary shares subject to redemption (income earned on investment held in trust account)		586,164
Accretion for ordinary shares subject to redemption (extension deposit)		55,000
Ordinary shares subject to possible redemption at March 31, 2024		51,521,768
Plus:
Accretion for ordinary shares subject to redemption (income earned on investment held in trust account)		530,141
Accretion for ordinary shares subject to redemption (extension deposit)		110,000
Ordinary shares subject to possible redemption at June 30, 2024	$	52,161,909

Convertible Promissory Note

Recent Accounting Standards

Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

INITIAL PUBLIC OFFERING

6 Months Ended

Jun. 30, 2024

Initial Public Offering

INITIAL PUBLIC OFFERING

NOTE 3 - INITIAL PUBLIC OFFERING

PRIVATE PLACEMENTS

6 Months Ended

Jun. 30, 2024

Private Placements

PRIVATE PLACEMENTS

NOTE 4 - PRIVATE PLACEMENTS

RELATED PARTIES

6 Months Ended

Jun. 30, 2024

RELATED PARTIES

NOTE 5 - RELATED PARTIES

On April 18, 2023, AlphaVest Holding LP, one of our sponsors, transferred an aggregate of 1,035,000 founder shares to Peace Capital Limited, our other sponsor.

Administrative Services Agreement

Promissory Notes - Related Party

Website Service

COMMITMENTS AND CONTINGENCY

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCY

NOTE 6 - COMMITMENTS AND CONTINGENCY

Registration Rights

Underwriting Agreement

Business Combination Marketing Agreement

SHAREHOLDERS’ EQUITY

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

SHAREHOLDERS’ EQUITY

NOTE 7 - SHAREHOLDERS’ EQUITY

Ordinary Shares - The Company is authorized to issue 200,000,000 ordinary shares with a par value of $0.0001 per share Holders of ordinary shares are entitled to one vote for each share.

FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 8 - FAIR VALUE MEASUREMENTS

Level 3: Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability.

Date	Trading Securities	Level		Fair Value
June 30, 2024	Marketable securities held in the trust account		1	$	51,996,909

December 31, 2023	Marketable securities held in the trust account		1	$	50,880,604

SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 9 - SUBSEQUENT EVENTS

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

Emerging Growth Company

Emerging Growth Company

Use of Estimates

Use of Estimates

Cash and cash equivalents

Cash and cash equivalents

Investments Held in Trust Account

Investments Held in Trust Account

Cash held in Trust Escrow Account

Cash held in Trust Escrow Account

Income Taxes

Income Taxes

Net Income (Loss) per Ordinary Shares

Net Income (Loss) per Ordinary Shares

The net income (loss) per share presented in the statements of operations is based on the following:

SCHEDULE OF NET INCOME (LOSS) PER SHARE

	2024			2023			2024			2023
	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Net income	$	382,746		$	704,555		$	731,987		$	1,349,454
Accretion of temporary equity into redemption value (interest earned)		(530,141	)		(834,681	)		(1,116,305	)		(1,675,901	)
Accretion of temporary equity into redemption value (extension deposit)		(110,000	)		-			(165,000	)		-
Net loss including accretion of equity into redemption value	$	(257,395	)	$	(130,126	)	$	(549,318	)	$	(326,447	)

Particulars	Shares			Shares			Shares			Shares			Shares			Shares			Shares			Shares
	For Three Months Ended June 30, 2024						For Six Months Ended June 30, 2024						For Three Months Ended June 30, 2023						For Six Months Ended June 30, 2023
	Redeemable			Non-Redeemable			Redeemable			Non-Redeemable			Redeemable			Non-Redeemable			Redeemable			Non-Redeemable
Particulars	Shares			Shares			Shares			Shares			Shares			Shares			Shares			Shares
Basic and diluted net income/(loss) per share:
Weighted-average shares outstanding		4,725,829			2,280,500			4,725,829			2,280,500			6,900,000			2,280,500			6,900,000			2,280,500
Ownership percentage		67	%		33	%		67	%		33	%		75	%		25	%		75	%		25	%
Numerators:
Allocation of net loss including accretion of temporary equity		(173,615	)		(101,682	)		(370,520	)		(178,798	)		(97,802	)		(32,324	)		(245,355	)		(81,092	)
Interest earned on investment held in trust account		530,141			-			1,116,305			-			834,681			-			1,675,901			-
Accretion of temporary equity into redemption value (extension deposit)		110,000			-			165,000			-			-			-			-			-
Allocation of net income/(loss)		466,526			(101,682	)		910,785			(178,798	)		736,879			(32,324	)		1,430,546			(81,092	)
Denominators:
Weighted-average shares outstanding		4,725,829			2,280,500			4,725,829			2,280,500			6,900,000			2,280,500			6,900,000			2,280,500
Basic and diluted net income/(loss) per share	$	0.10		$	(0.04	)	$	0.19		$	(0.08	)	$	0.11		$	(0.01	)	$	0.21		$	(0.04	)

Concentration of Credit Risk

Concentration of Credit Risk

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Ordinary Shares Subject to Possible Redemption

Ordinary Shares Subject to Possible Redemption

At June 30, 2024, the ordinary shares reflected in the balance sheets are reconciled in the following table:


Ordinary shares subject to possible redemption at December 31, 2023	$	50,880,604
Plus:
Accretion for ordinary shares subject to redemption (income earned on investment held in trust account)		586,164
Accretion for ordinary shares subject to redemption (extension deposit)		55,000
Ordinary shares subject to possible redemption at March 31, 2024		51,521,768
Plus:
Accretion for ordinary shares subject to redemption (income earned on investment held in trust account)		530,141
Accretion for ordinary shares subject to redemption (extension deposit)		110,000
Ordinary shares subject to possible redemption at June 30, 2024	$	52,161,909

Convertible Promissory Note

Convertible Promissory Note

Recent Accounting Standards

Recent Accounting Standards

Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

SCHEDULE OF NET INCOME (LOSS) PER SHARE

The net income (loss) per share presented in the statements of operations is based on the following:

SCHEDULE OF NET INCOME (LOSS) PER SHARE

	2024			2023			2024			2023
	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Net income	$	382,746		$	704,555		$	731,987		$	1,349,454
Accretion of temporary equity into redemption value (interest earned)		(530,141	)		(834,681	)		(1,116,305	)		(1,675,901	)
Accretion of temporary equity into redemption value (extension deposit)		(110,000	)		-			(165,000	)		-
Net loss including accretion of equity into redemption value	$	(257,395	)	$	(130,126	)	$	(549,318	)	$	(326,447	)

Particulars	Shares			Shares			Shares			Shares			Shares			Shares			Shares			Shares
	For Three Months Ended June 30, 2024						For Six Months Ended June 30, 2024						For Three Months Ended June 30, 2023						For Six Months Ended June 30, 2023
	Redeemable			Non-Redeemable			Redeemable			Non-Redeemable			Redeemable			Non-Redeemable			Redeemable			Non-Redeemable
Particulars	Shares			Shares			Shares			Shares			Shares			Shares			Shares			Shares
Basic and diluted net income/(loss) per share:
Weighted-average shares outstanding		4,725,829			2,280,500			4,725,829			2,280,500			6,900,000			2,280,500			6,900,000			2,280,500
Ownership percentage		67	%		33	%		67	%		33	%		75	%		25	%		75	%		25	%
Numerators:
Allocation of net loss including accretion of temporary equity		(173,615	)		(101,682	)		(370,520	)		(178,798	)		(97,802	)		(32,324	)		(245,355	)		(81,092	)
Interest earned on investment held in trust account		530,141			-			1,116,305			-			834,681			-			1,675,901			-
Accretion of temporary equity into redemption value (extension deposit)		110,000			-			165,000			-			-			-			-			-
Allocation of net income/(loss)		466,526			(101,682	)		910,785			(178,798	)		736,879			(32,324	)		1,430,546			(81,092	)
Denominators:
Weighted-average shares outstanding		4,725,829			2,280,500			4,725,829			2,280,500			6,900,000			2,280,500			6,900,000			2,280,500
Basic and diluted net income/(loss) per share	$	0.10		$	(0.04	)	$	0.19		$	(0.08	)	$	0.11		$	(0.01	)	$	0.21		$	(0.04	)

SCHEDULE OF INITIAL PUBLIC OFFERING PROCEEDS TO COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION

At June 30, 2024, the ordinary shares reflected in the balance sheets are reconciled in the following table:


Ordinary shares subject to possible redemption at December 31, 2023	$	50,880,604
Plus:
Accretion for ordinary shares subject to redemption (income earned on investment held in trust account)		586,164
Accretion for ordinary shares subject to redemption (extension deposit)		55,000
Ordinary shares subject to possible redemption at March 31, 2024		51,521,768
Plus:
Accretion for ordinary shares subject to redemption (income earned on investment held in trust account)		530,141
Accretion for ordinary shares subject to redemption (extension deposit)		110,000
Ordinary shares subject to possible redemption at June 30, 2024	$	52,161,909

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

SCHEDULE OF ASSETS MEASURED AT FAIR VALUE ON A RECURRING BASIS

Date	Trading Securities	Level		Fair Value
June 30, 2024	Marketable securities held in the trust account		1	$	51,996,909

December 31, 2023	Marketable securities held in the trust account		1	$	50,880,604

ORGANIZATION AND BUSINESS OPERATIONS (Details Narrative) - USD ($)					3 Months Ended				6 Months Ended
	May 02, 2024	Dec. 21, 2023	Dec. 29, 2022	Dec. 22, 2022	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Aug. 19, 2024	Apr. 15, 2024	Dec. 31, 2023
Subsidiary, Sale of Stock [Line Items]
Investment of cash in trust account				$ 61,200,000
Cash deposited in trust account per unit				$ 10.20
Redemption ordinary per share		$ 10.71
Percentage of public shares that would not be redeemed if business combination is not completed within combination period									100.00%
Expenses payable on dissolution					$ 100,000				$ 100,000
Shares with redemption		2,174,171
Values with redemption		$ 23,282,936			(530,141)	$ (586,164)	$ (834,681)	$ (841,220)
Escrow Deposit					165,000				165,000
Cash					13,793				13,793			28,560
Working capital deficit					874,140				874,140
Related Party [Member]
Subsidiary, Sale of Stock [Line Items]
Loan borrowed					311,532				311,532			165,000
Subsequent Event [Member]
Subsidiary, Sale of Stock [Line Items]
Escrow Deposit										$ 440,000
Promissory Note [Member]
Subsidiary, Sale of Stock [Line Items]
Loan borrowed	$ 440,000	$ 165,000
Principal amount											$ 715,000
Extension Note Two [Member]
Subsidiary, Sale of Stock [Line Items]
Loan borrowed	$ 440,000
Conversion price	$ 10.00
Extension Note Two [Member] \| Related Party [Member]
Subsidiary, Sale of Stock [Line Items]
Loan borrowed					110,000				110,000			0
Promissory Note 2 [Member]
Subsidiary, Sale of Stock [Line Items]
Loan borrowed	$ 126,000
Conversion price	$ 10.00
Promissory Note 2 [Member] \| Related Party [Member]
Subsidiary, Sale of Stock [Line Items]
Loan borrowed					$ 126,000				$ 126,000			$ 0
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Issuance of common stock, shares				6,000,000					6,000,000
Proceeds from sale of units				$ 60,000,000
Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Number of private units sold, shares				390,000					390,000
Redemption ordinary per share				$ 10.00
Private Placement [Member] \| Sponsor [Member]
Subsidiary, Sale of Stock [Line Items]
Number of private units sold, shares				390,000
Sale of stock, price per share				$ 10.00
Over-Allotment Option [Member]
Subsidiary, Sale of Stock [Line Items]
Issuance of common stock, shares			900,000
Number of private units sold, shares			40,500
Sale of stock, price per share					$ 10.00				$ 10.00
Units issued during the period shares			900,000
Units issued aggregate amount			$ 9,000,000
Number of additional private units issued			40,500
Redemption ordinary per share			$ 10.00
Proceeds from issuance of private units			$ 405,000

SCHEDULE OF NET INCOME (LOSS) PER SHARE (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Net income	$ 382,746	$ 349,241	$ 704,555	$ 644,898	$ 731,987	$ 1,349,454
Accretion of temporary equity into redemption value (interest earned)	(530,141)		(834,681)		(1,116,305)	(1,675,901)
Accretion of temporary equity into redemption value (extension deposit)	(110,000)				(165,000)
Net loss including accretion of equity into redemption value	$ (257,395)		$ (130,126)		$ (549,318)	$ (326,447)
Redeemable Common Stock [Member]
Ownership percentage	67.00%		75.00%		67.00%	75.00%
Non redeemable Common Stock [Member]
Ownership percentage	33.00%		25.00%		33.00%	25.00%
Redeemable Common Stock [Member]
Weighted-average shares outstanding	4,725,829		6,900,000		4,725,829	6,900,000
Allocation of net loss including accretion of temporary equity	$ (173,615)		$ (97,802)		$ (370,520)	$ (245,355)
Interest earned on investment held in trust account	530,141		834,681		1,116,305	1,675,901
Accretion of temporary equity into redemption value (extension deposit)	110,000				165,000
Allocation of net income/(loss)	$ 466,526		$ 736,879		$ 910,785	$ 1,430,546
Weighted-average shares outstanding	4,725,829		6,900,000		4,725,829	6,900,000
Basic net income/(loss) per share	$ 0.10		$ 0.11		$ 0.19	$ 0.21
Diluted net income/(loss) per share	$ 0.10		$ 0.11		$ 0.19	$ 0.21
Non redeemable Common Stock [Member]
Weighted-average shares outstanding	2,280,500		2,280,500		2,280,500	2,280,500
Allocation of net loss including accretion of temporary equity	$ (101,682)		$ (32,324)		$ (178,798)	$ (81,092)
Interest earned on investment held in trust account
Accretion of temporary equity into redemption value (extension deposit)
Allocation of net income/(loss)	$ (101,682)		$ (32,324)		$ (178,798)	$ (81,092)
Weighted-average shares outstanding	2,280,500		2,280,500		2,280,500	2,280,500
Basic net income/(loss) per share	$ (0.04)		$ (0.01)		$ (0.08)	$ (0.04)
Diluted net income/(loss) per share	$ (0.04)		$ (0.01)		$ (0.08)	$ (0.04)

SCHEDULE OF INITIAL PUBLIC OFFERING PROCEEDS TO COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION (Details) - USD ($)	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Accounting Policies [Abstract]
Balance	$ 51,521,768	$ 50,880,604
Accretion for ordinary shares subject to redemption (income earned on investment held in trust account)	530,141	586,164
Accretion for ordinary shares subject to redemption (extension deposit)	110,000	55,000
Balance	$ 52,161,909	$ 51,521,768

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Cash	$ 13,793		$ 13,793		$ 28,560
Trust account balance	51,996,909		51,996,909		50,880,604
Investment Income, Interest	530,141	$ 834,681	1,208,621	$ 1,637,673
Cash held in trust escrow account not yet deposited	165,000		165,000
Unrecognized tax benefits	0		0		0
Accrued for interest and penalties	0		0		0
Federal Depository Insurance Coverage	250,000		250,000
Common Stock Subject to Mandatory Redemption [Member]
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Common stock subject to possible redemption value	$ 52,161,909		$ 52,161,909		$ 50,880,604

INITIAL PUBLIC OFFERING (Details Narrative) - USD ($)			6 Months Ended
INITIAL PUBLIC OFFERING (Details Narrative) - USD ($)	Dec. 29, 2022	Dec. 22, 2022	Jun. 30, 2024
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares issued		6,000,000	6,000,000
Sale of stock, description of transaction			Each Unit consists of one share of ordinary shares and one right to receive one-tenth (1/10) of one ordinary shares upon the consummation of the Company’s initial business combination one right (“Public Right”).
Over-Allotment Option [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares issued	900,000
Sale of stock, price per share			$ 10.00
Number of shares issued, value	$ 9,000,000

PRIVATE PLACEMENTS (Details Narrative) - USD ($)			6 Months Ended
PRIVATE PLACEMENTS (Details Narrative) - USD ($)	Dec. 29, 2022	Dec. 22, 2022	Jun. 30, 2024	Dec. 21, 2023
Subsidiary, Sale of Stock [Line Items]
Number of private units issued, price per share				$ 10.71
Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued		390,000	390,000
Sale of stock, description			Each Unit consists of one share of ordinary shares and one right to receive one-tenth (1/10) of one share of ordinary shares upon the consummation of the Company’s initial business combination (“Private Right”).
Number of private units issued, price per share		$ 10.00
Over-Allotment Option [Member]
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued	40,500
Number of additional private units issued	40,500
Number of private units issued, price per share	$ 10.00
Proceeds from issuance of private units	$ 405,000

RELATED PARTIES (Details Narrative) - USD ($)							3 Months Ended		6 Months Ended
RELATED PARTIES (Details Narrative) - USD ($)	Feb. 22, 2024	Dec. 21, 2023	Feb. 22, 2023	Dec. 29, 2022	Jun. 03, 2022	Feb. 07, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Apr. 15, 2024	Mar. 12, 2024	Dec. 31, 2023	Apr. 18, 2023
Related Party Transaction [Line Items]
Due to related party							$ 321,369		$ 321,369				$ 174,837
Professional Fees							30,000	$ 30,000	60,000	$ 60,000
Administrative expense outstanding							73,871		73,871
Unsecured promissory note					$ 150,000
Outstanding balance							0		0				0
Annual website service fees	$ 537		$ 784				134	$ 159	291	$ 238
Related Party [Member]
Related Party Transaction [Line Items]
Loan borrowed							311,532		311,532				165,000
TenX Global Capital LP [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity												$ 400,000
Loan borrowed							91,532		91,532				0
Extension Note [Member]
Related Party Transaction [Line Items]
Loan borrowed		$ 165,000									$ 715,000
Amount drawdowns used for extension payments		$ 715,000
Extension Note [Member] \| Related Party [Member]
Related Party Transaction [Line Items]
Loan borrowed							$ 220,000		220,000				$ 165,000
AlphaVest Holding, LP [Member] \| Peace Capital Limited [Member]
Related Party Transaction [Line Items]
Transferred shares														1,035,000
Over-Allotment Option [Member]
Related Party Transaction [Line Items]
Sale of stock, number of shares issued				40,500
Founder Shares [Member]
Related Party Transaction [Line Items]
Deferred offering costs						$ 25,000
Founder Shares [Member] \| Over-Allotment Option [Member] \| Maximum [Member]
Related Party Transaction [Line Items]
Shares subject to forfeiture to underwriters						225,000
TenX Global Capital LP [Member]
Related Party Transaction [Line Items]
Selling, General and Administrative Expense									$ 10,000
Common Stock [Member] \| Over-Allotment Option [Member] \| Maximum [Member]
Related Party Transaction [Line Items]
Shares subject to forfeiture to underwriters						225,000
Common Stock [Member] \| Founder Shares [Member]
Related Party Transaction [Line Items]
Sale of stock, number of shares issued						1,725,000

COMMITMENTS AND CONTINGENCY (Details Narrative) - USD ($)				6 Months Ended
	Dec. 29, 2022	Dec. 22, 2022	Sep. 15, 2022	Jun. 30, 2024
Subsidiary, Sale of Stock [Line Items]
Payment of cash underwriting discount	$ 1,725,000
Percentage of cash fee on consideration payable in initial business combination				1.00%
Sponsor [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from initial public offering				$ 2,415,000
Over-Allotment Option [Member]
Subsidiary, Sale of Stock [Line Items]
Additional units to cover over-allotments			900,000
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Percentage of cash fee upon initial business combination on gross proceeds				3.50%
Proceeds from initial public offering		$ 60,000,000

SHAREHOLDERS’ EQUITY (Details Narrative) - USD ($)					6 Months Ended
SHAREHOLDERS’ EQUITY (Details Narrative) - USD ($)	Dec. 29, 2022	Dec. 22, 2022	Jul. 11, 2022	Feb. 07, 2022	Jun. 30, 2024	Dec. 31, 2023	Dec. 21, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized					2,000,000	2,000,000
Preferred stock par or stated value per share					$ 0.0001	$ 0.0001
Preferred stock, shares issued					0	0
Preferred stock, shares outstanding					0	0
Common stock, shares authorized					200,000,000	200,000,000
Common stock par or stated value per share					$ 0.0001	$ 0.0001
Number of shares issued, price per share							$ 10.71
Common stock, shares issued					2,280,500	2,280,500
Common stock, shares outstanding					2,280,500	2,280,500
Temproary equity, redemption shares					4,725,829	4,725,829
Over-Allotment Option [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of stock, number of shares issued	40,500
Number of shares issued, price per share	$ 10.00
Private Placement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of stock, number of shares issued		390,000			390,000
Number of shares issued, price per share		$ 10.00
Proceeds from issuance of private placement		$ 3,900,000
Founder Shares [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Deferred offering costs				$ 25,000
Founder Shares [Member] \| Over-Allotment Option [Member] \| Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shares subject to forfeiture to underwriters				225,000
EBC Founder Shares [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued, price per share			$ 0.014
Estimated fair value			$ 1,812
EBC Founder Shares [Member] \| Over-Allotment Option [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of stock, number of shares issued	2,596
EBC Founder Shares [Member] \| Private Placement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of stock, number of shares issued		25,000
Sponsor [Member] \| Over-Allotment Option [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of stock, number of shares issued	37,904
Sponsor [Member] \| Private Placement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of stock, number of shares issued		365,000
Common Stock [Member] \| Over-Allotment Option [Member] \| Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shares subject to forfeiture to underwriters				225,000
Common Stock [Member] \| Founder Shares [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of stock, number of shares issued				1,725,000
Percentage of common stock issued and outstanding				20.00%
Common Stock [Member] \| EBC Founder Shares [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of stock, number of shares issued			125,000
Aggregate purchase price			$ 1,750

SCHEDULE OF ASSETS MEASURED AT FAIR VALUE ON A RECURRING BASIS (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities held in the trust account	$ 51,996,909	$ 50,880,604
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities held in the trust account	$ 51,996,909	$ 50,880,604