Company: FVN
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0001829126-25-001482
Chunk: 107

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 6
Chunk 107
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Given that the 5,750,000 ordinary shares sold as part of the units in the IPO were issued with other freestanding instruments (i.e., rights), the initial carrying value of ordinary shares classified as temporary equity has been allocated to the proceeds determined in accordance with ASC 470-20. If it is probable that the equity instrument will become redeemable, the Company has the option to either (i) accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or (ii) recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The Company has elected to recognize the changes in redemption value as a charge against retained earnings or, in the absence of retained earnings, as a charge against additional paid-in-capital over an expected 18-month period, which is the initial period that the Company has to complete a Business Combination.

For the period from January 30, 2024 (inception) through December 31, 2024, the Company recorded accretion of ordinary share subject to redemption value of $1,332,947.

    F-13

FUTURE VISION II ACQUISITION CORP.

NOTES TO FINANCIAL STATEMENTS

December 31, 2024

Ordinary shares subject to possible redemption reflected in the balance sheet are recorded in the following table:

    Schedule of Ordinary shares subject to possible redemption

    Gross proceeds
     
    $
    57,500,000

    Less:

    Proceeds allocated to public rights

    (5,010,612
    )
  
    Offering costs allocated to redeemable shares

    (1,684,693
    )
  
    Plus:

    Accretion of carrying value to redemption value

    1,332,947

    Ordinary shares subject to possible redemption as of December 31, 2024
     
    $
    52,137,642

Related Parties

Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

Net Income (Loss) Per