Company: KVACU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109170
Chunk: 64

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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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.

9

NOTE 2 –
SUMMARY OF 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 by U.S. GAAP for complete financial statements. The unaudited condensed consolidated financial
statements should be read in conjunction with the Company’s financial statements and notes thereto for the year ended December 31,
2024 included in the Company’s Form 10-K filed with the SEC on March 7, 2025. Certain information or footnote disclosures normally
included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted, pursuant to the rules and regulations
of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete
presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed
consolidated financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation
of the financial position, operating results and cash flows for the periods presented. 

●Principles of consolidation

The unaudited condensed consolidated financial
statements include the unaudited condensed financial statements of the Company and its subsidiaries. All significant intercompany transactions
and balances between the Company and its subsidiaries are eliminated upon consolidation.

A subsidiary is the entity in which the Company,
directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies,
to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors.

The accompanying unaudited condensed consolidated
financial statements reflect the activities of the Company and each of the following entities:

  Name   Background   Ownership  KVAC (Cayman) Limited (“Acquirer”)   A Cayman Islands company
Incorporated on August 28, 2024   100% owned by the Company  KV