Company: KVACU
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043269
Chunk: 13

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 all vendors, service providers, prospective target businesses
or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim
of any kind in or to monies held in the Trust Account.

F-9

KEEN VISION ACQUISITION CORPORATION

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS

Liquidity
and going concern

As of March 31, 2025, the Company has reported
a working capital deficit of $1,980,445. The Company has incurred and expects to continue to incur significant costs in pursuit of its
financing and acquisition plans. The Company initially had nine months from the consummation of the Initial Public Offering to consummate
the initial Business Combination. If the Company does not complete a Business Combination within nine months from the consummation of
the Initial Public Offering, the Company will trigger an automatic winding up, dissolution and liquidation pursuant to the terms of the
Amended and Restated Memorandum and Articles of Association. As a result, this has the same effect as if the Company had formally gone
through 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 May 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.

Additionally, the Company may not be able to obtain
additional financing.