Company: KVACU
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043269
Chunk: 16

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 16
---
 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 unaudited condensed consolidated 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 unaudited condensed consolidated
financial statements in conformity with U.S. GAAP requires 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 unaudited condensed consolidated financial
statements.

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 unaudited condensed consolidated financial statements, 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

The Company
considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company
did not have any cash equivalents as of March 31, 2025 and December 31, 2024.

●Cash and investment held in Trust Account

As of March
31, 2025 and December 31, 2024, substantially all of the assets held in the Trust Account were held in money market funds, which are invested
primarily in U.S. Treasury securities. These securities are presented on the unaudited condensed consolidated
balance sheets at fair value at the end of each reporting period. Earnings on these securities are included in dividend income in the
accompanying unaudited condensed consolidated statements of income and comprehensive income
and are automatically reinvested. The fair value for these securities is determined using quoted market prices in active markets. Unrealized
gains and losses for available-for-sale securities are recorded in other comprehensive income and realized gains and losses are reported
in other income.

F-11

KEEN VISION ACQUISITION CORPORATION

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS

●Warrant accounting

The Company accounts for warrants as either equity-classified
or liability-classified instruments