Company: BAYAU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024142
Chunk: 85

Company: Bayview Acquisition Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 4
Chunk 85
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 of the financial statements for external purposes in accordance with U.S. generally
accepted accounting principles and includes those policies and procedures that: (1) pertain to the maintenance of records that in reasonable
detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance
that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting
principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and
directors of the Company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition,
use, or disposition of the Company’s assets that could have a material effect on the financial statements.

Because
of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of
any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions,
or that the degree of compliance with the policies or procedures may deteriorate.

20

Our
management, including our Chief Executive Officer and Chief Financial Officer, has conducted an assessment regarding the
effectiveness of our internal control over financial reporting as of June 30, 2025, based on the framework established in Internal
Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on our
assessment under the criteria described above, management has concluded that our internal control over financial reporting was not
effective as of June 30, 2025, due to the material weakness in our internal control over financial reporting related to the
Company’s lack of qualified SEC reporting professional and adequate review and approval of financial statements, including relevant balances and disclosures. As a result, we performed additional analysis as deemed necessary to
ensure that our financial statements were prepared in accordance with U.S. GAAP. Accordingly, management believes that the financial
statements included in this Form 10-Q present fairly, in all material respects, our financial position, result of operations and
cash flows for the periods presented. Management intends to continue implement remediation steps to improve our disclosure controls
and procedures and our internal control over financial reporting. Specifically, we intend to expand and improve our review process
for complex securities and related accounting standards. We have improved this process by enhancing access to accounting literature,
identification of third-party professionals with whom to consult regarding complex accounting applications and consideration of
additional staff with the requisite experience and training