Company: BAYAU
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011820
Chunk: 70

Company: Bayview Acquisition Corp
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 3
Chunk 70
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 Chief Executive Officer and our Chief Financial Officer, and
effected by our Board, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting
and the preparation 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.

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 March 31, 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 March
31, 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