Company: KVACU
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001213900-25-074277
Chunk: 14

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 14
---
 a voluntary
liquidation procedure under the Companies Act (As Revised) of the British Virgin Islands. Accordingly, no vote would be required from
the shareholders to commence such a voluntary winding up, dissolution and liquidation. However, the Company may extend the period of time
to consummate a Business Combination nine times (for a total of up to 21 months from the consummation of the Initial Public Offering to
complete a Business Combination, including Automatic Extension Period). If the Company is unable to consummate the Company’s Initial
Business Combination by August 27, 2025 (unless further extended), the Company will, as promptly as possible but not more than ten business
days thereafter, redeem 100% of the Company’s outstanding public shares for a pro rata portion of the funds held in the Trust Account,
including a pro rata portion of any interest earned on the funds held in the Trust Account and not necessary to pay taxes, and then seek
to liquidate and dissolve. However, the Company may not be able to distribute such amounts as a result of claims of creditors which may
take priority over the claims of the Company’s public shareholders. In the event of dissolution and liquidation, the Company’s
warrants will expire and will be worthless.

9

Additionally, the Company may not be able to obtain
additional financing. If the Company is unable to raise additional capital, it may be required to take additional measures to conserve
liquidity, which could include, but not necessarily be limited to, curtailing operations, suspending the pursuit of a potential transaction,
and reducing overhead expenses. The Company cannot provide any assurance that new financing will be available to it on commercially acceptable
terms, if at all. These conditions raise substantial doubt about the Company’s ability to continue as a going concern if a Business
Combination is not consummated by August 27, 2025 (unless further extended). These unaudited condensed consolidated financial statements
do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be
necessary should the Company be unable to continue as a going concern.

NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES

●Basis of presentation

These accompanying unaudited condensed consolidated
financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S.
GAAP”) for interim financial statements and Article 8 of Regulation S-X. They do not include all of the information and notes required