Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 1255

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 11
Chunk 1255
---
318,427 
  
    Repayment to related party 
     -  
     (367,500)
  
    Proceeds from public offering 
     -  
     149,500,000 
  
    Proceeds from private placement 
     -  
     6,785,750 
  
    Payment of offering costs 
     -  
     (3,607,980)
  
    Proceed from extension promissory note - related party 
     600,000  
     - 
  
    Redemption of common stock 
     (92,398,989) 
     - 
  
    Net cash provided by (used in) financing activities 
     (91,233,904) 
     152,628,697 

    NET CHANGE IN CASH 
     (577,205) 
     554,044 

    CASH AT BANK, BEGINNING OF PERIOD 
     631,753  
     77,709 

    CASH AT BANK, END OF PERIOD 
    $54,548  
    $631,753 

    Non-cash investing and financing activities: 

    Initial classification of common stock subject to possible redemption 
    $-  
    $147,853,763 
  
    Allocation of offering costs to common stock subject to possible redemption 
    $-  
    $6,525,391 
  
    Accretion of carrying value to redemption value 
    $7,948,736  
    $13,493,451 
  
    Accrued underwriting compensation 
    $-  
    $2,990,000 

See accompanying notes to consolidated financial
statements.

F-6

KEEN VISION ACQUISITION
CORPORATION

NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS

NOTE 1 -
ORGANIZATION AND BUSINESS BACKGROUND

Keen Vision Acquisition Corporation (the “Company”
or “we”, “us” and “our”) is a blank check company incorporated on June 18, 2021, under the laws of
the British Virgin Islands for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation, purchasing
all or substantially all of the assets of, entering into contractual arrangements, or engaging in any other similar business combination
with one or more businesses or entities (“Business Combination”). The Company is not limited to a particular industry or geographic