Company: KVACU
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001213900-25-074277
Chunk: 72

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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space, administrative and support services, as the Company may require from time to time. The Company has agreed to pay the affiliate
of the Sponsor $10,000 per month for these services commencing on the closing date of the Initial Public Offering for 15 months (or up
to 21 months including Automatic Extension Period). As of June 30, 2025 and December 31, 2024, the balance of unpaid services fee was
$60,000 and $0, respectively, and is presented in amount due to a related party in the accompanying unaudited condensed consolidated balance
sheets. For the six months ended June 30, 2025 and 2024, the Company incurred $60,000 and $60,000 in fees for these services, respectively.
For the three months ended June 30, 2025 and 2024, the Company incurred $30,000 and $30,000 in fees for these services, respectively and
is included in formation and operating costs in the accompanying unaudited condensed consolidated statements of income and comprehensive
income.

Related Party Extensions Loan

The Company will have to consummate a Business
Combination by August 27, 2025. However, if the Company anticipates that it may not be able to consummate a Business Combination within
21 months (including automatic extension period), the Company may extend the period of time to consummate a Business Combination up to
four times, four times by an additional one month each time to complete a Business Combination. The Sponsor or its affiliates or designees
will receive a non-interest bearing, unsecured promissory note equal to the amount of any such deposit that will not be repaid in the
event that the Company are unable to close a Business Combination unless there are funds available outside the Trust Account to do so.
Such notes would either be paid upon consummation of the initial Business Combination or at the lender’s discretion, converted upon
consummation of the Business Combination into additional private units at a price of $10.00 per unit.

On each of October 28, 2024, November 20, 2024,
December 23, 2024, January 22, 2025, February 24, 2025, March 24, 2025, April 25, 2025, May 20, 2025 and June 23, 2025, the Company issued
an unsecured promissory note in an amount of