Company: FVN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008627
Chunk: 60

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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    Redeemable Ordinary Share

    Non-Redeemable  Ordinary Share

    (Unaudited)

    (Unaudited)

    Numerators:

    Allocation of net loss
     
    $
    (3,535,439
    )
     
    $
    (1,103,057
    )
     
    $
    (6,592
    )
     
    $
    (21,190
    )
  
    Accretion of redeemable ordinary shares to redemption value

    6,201,905

    -

    164,960

    -

    Allocation of net income (loss)
     
    $
    2,666,466

    $
    (1,103,057
    )
     
    $
    158,368

    $
    (21,190
    )
  
    Denominators:

    Weighted-average ordinary shares outstanding

    5,750,000

    1,794,000

    400,615

    1,287,902

    Basic and diluted earnings (loss) per share
     
    $
    0.46

    $
    (0.61
    )
     
    $
    0.40

    $
    (0.02
    )

Income Taxes

The Company accounts for income taxes under ASC 740 Income Taxes (“ASC 740”). ASC 740 requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statement and tax basis of assets and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized.

ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition.

The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of September