Company: KVACU
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001213900-25-074277
Chunk: 70

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 70
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000  
     4,416,075 
  
    Basic and diluted net income (loss) per share 
    $0.10  
    $(0.02) 
    $0.12  
    $(0.01)

14

●Related parties

Parties, which can be a corporation or individual,
are considered to be related if either the Company or the other party have the ability, directly or indirectly, to control the other party
or exercise significant influence over the other party in making financial and operational decisions. Companies are also considered to
be related if they are subject to common control or significant influence.

●Concentration of credit risk

Financial instruments that potentially subject
the Company to concentration of credit risk consist of a cash account in a financial institution. The Company has not experienced losses
on this account and management believes the Company is not exposed to significant risks on such account.

●Recent issued accounting standards

Management does not believe that any recently
issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s unaudited
condensed consolidated financial statements.

NOTE 3 – INITIAL PUBLIC OFFERING

Pursuant to the Initial Public Offering on July
27, 2023, the Company sold 14,950,000 Public Units, which includes 1,950,000 Public Units upon the full exercise by the underwriter of
its over-allotment option, at a purchase price of $10.00 per Public Unit. Each Public Unit consists of one Public share and one Public
Warrant to purchase one ordinary share at an exercise price of $11.50 per share (see Note 6).

All of the 14,950,000 public shares sold as part
of the Public Units in the Initial Public Offering contain a redemption feature which allows for the redemption of such Public Shares
if there is a shareholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to
the Company’s Amended and Restated Memorandum and Articles of Association, or in connection with the Company’s liquidation.
In accordance with the SEC and its staff’s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99,
redemption provisions not solely within the control of the Company require ordinary shares subject to redemption to be classified outside
of permanent equity.

The Company’s redeemable ordinary share
is subject to SEC and its staff’s guidance on redeemable equity instruments, which