Company: BAYAU
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011820
Chunk: 35

Company: Bayview Acquisition Corp
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 8
Chunk 35
---
 to Oabay, each in an amount of $125,000, pursuant to which the Company could borrow an aggregate of $125,000 to cover the expense
in connection with the extension of the Business Combination. Through March 31, 2025, the Company had deposited an aggregate of $875,000
into the trust account under the promissory notes.

Going Concern Consideration

As of March 31, 2025, the Company had cash of $52,601
and a working capital deficit of $1,800,368. The Company has incurred and expects to continue to incur significant professional costs
to remain as a public traded company and to incur transaction costs in pursuit of a Business Combination. In connection with the Company’s
assessment of going concern considerations in accordance with Accounting Standards Update (“ASU”) 2014-15, “Disclosures
of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management believes that these conditions raise
substantial doubt about the Company’s ability to continue as a going concern. In addition, if the Company is unable to complete
a Business Combination within the Combination Period and such period is not extended, there will be a liquidation and subsequent dissolution.
As a result, management has determined that such additional condition also raises substantial doubt about the Company’s ability
to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of the uncertainty.

    8

NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES

Basis of Presentation

The accompanying financial statements are presented
in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the
rules and regulations of the SEC. These unaudited financial statements should be read in conjunction with the audited financial statements
included in the Annual Report on Form 10-K for the year ended December 31, 2024 filed by the Company with the SEC on April 1, 2025.

Emerging Growth Company

The Company is an “emerging growth company,”
as defined in Section 2(a) of the Securities Act of 1933, as amended (the “Securities Act”), as modified by the Jumpstart
Our Business Startups Act of 2012, as amended (the “JOBS Act”), and it may take advantage of certain exemptions from various
reporting requirements that are applicable to other public companies that are not emerging growth companies including, but