Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 164

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1A
Chunk 164
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The fair value of the Company’s certain
assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurements and Disclosures,” approximates
the carrying amounts represented in the consolidated balance sheets. The fair values of cash and other current assets, accrued expenses,
due to a related party are estimated to approximate the carrying values as of December 31, 2024 and 2023 due to the short maturities of
such instruments.

The following table presents information about
the Company’s assets and liabilities that were measured at fair value on a recurring basis as of December 31, 2024 and 2023, and
indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

    December 31,  
    Quoted Prices In Active Markets  
    Significant Other Observable Inputs  
    Significant Other Unobservable Inputs 
  
    Description 
    2024  
    (Level 1)  
    (Level 2)  
    (Level 3) 
  
    Assets: 

    U.S. Treasury Securities held in Trust Account 
    $70,373,065  
    $70,373,065  
    $         -  
    $            - 

    December 31,  
    Quoted Prices In Active Markets  
    Significant Other Observable Inputs  
    Significant Other Unobservable Inputs 
  
    Description 
    2023  
    (Level 1)  
    (Level 2)  
    (Level 3) 
  
    Assets: 

    U.S. Treasury Securities held in Trust Account 
    $154,823,318  
    $154,823,318  
    $           -  
    $         - 

●Income taxes

Income taxes are determined in accordance with
the provisions of ASC Topic 740, Income Taxes (“ASC 740”). Under this method, deferred tax assets and liabilities
are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing
assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates
expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Any effect
on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

ASC 740