Company: KVACU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109170
Chunk: 5

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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    Net cash used in operating activities 
     (664,463) 
     (681,249)

    Cash flows from investing activities: 

    Cash withdrawn from Trust Account in connection to redemption 
     18,091,743  
     - 
  
    Extension payments deposited in Trust Account 
     (1,634,011) 
     - 
  
    Net cash provided by investing activities 
     16,457,732  
     - 

    Cash flows from financing activities: 

    Redemption of ordinary shares 
     (18,091,743) 
     - 
  
    Advance from a related party 
     625,795  
     90,000 
  
    Proceed from extension promissory note payable - related party 
     1,634,011  
     - 
  
    Net cash (used in) provided by financing activities 
     (15,831,937) 
     90,000 

    NET CHANGE IN CASH 
     (38,668) 
     (591,249)

    CASH AT BANK, BEGINNING OF PERIOD 
     54,548  
     631,753 

    CASH AT BANK, END OF PERIOD 
    $15,880  
    $40,504 

    Non-cash investing and financing activities: 

    Accretion of carrying value to redemption value 
    $3,745,555  
    $6,118,900 

See accompanying notes to unaudited condensed consolidated
financial statements.

4

KEEN VISION ACQUISITION CORPORATION 

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS

NOTE 1 - ORGANIZATION
AND BUSINESS BACKGROUND

Keen Vision Acquisition Corporation (the “Company”)
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 region for purposes of consummating a Business Combination.

The Company is an early stage company and emerging
growth company and, as such,