Company: FVN
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001829126-25-003643
Chunk: 10

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 former securityholders
of VIWO will receive 9,950,250 Future Vision ordinary shares as consideration upon the consummation of the Business Combination (“Consideration
Shares”).

On December 10, 2024, the parties entered into Amendment
No. 1 to the Merger Agreement requiring the Company to cause VIWO shareholders to enter into a lock up agreement with respect to the
Consideration Shares to be received by the VIWO shareholders after the consummation of the Business Combination. 

Going Concern Consideration

As of March 31, 2025, the Company had $1,142,445 of cash in its operating bank account.

The Company’s liquidity needs prior to the consummation of the IPO were satisfied through the payment of $25,000 from the Sponsor to cover for certain offering costs on the Company’s behalf in exchange for issuance of Founder Shares (as defined in Note 5), and loan from the Sponsor of $375,000 under the Promissory Note (as defined in Note 5). The Company repaid the Promissory Note in full shortly after receipt of funds in the operating bank account from the Trust Account. Subsequent to the consummation of the IPO, the Company’s liquidity has been satisfied through the net proceeds from the consummation of the IPO and the Private Placement held outside of the Trust Account. In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans (as defined in Note 5). As of March 31, 2025, there were no amounts outstanding under any Working Capital Loan.

    7

FUTURE VISION II ACQUISITION CORP.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

March 31, 2025

The Company has incurred and expects to continue to incur significant costs in pursuit of the consummation of an initial Business Combination. In addition, the Company initially has until March 13, 2026 to consummate the initial Business Combination (assume no extensions). If the Company does not complete a Business Combination within the prescribed timeline, 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. Notwithstanding management’s belief that the Company would have sufficient funds to execute its business strategy,