Company: KVACU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109170
Chunk: 66

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 66
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 requires management to exercise
significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances
that existed at the date of the unaudited condensed consolidated financial statements, which management considered in formulating its
estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly
from those estimates.

●Cash

The Company
considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company
did not have any cash equivalents as of September 30, 2025 and December 31, 2024. 

●Cash and investment held in Trust Account

As of September
30, 2025 and December 31, 2024, substantially all of the assets held in the Trust Account were held in money market funds, which are invested
primarily in U.S. Treasury securities. These securities are presented on the unaudited condensed consolidated balance sheets at fair value
at the end of each reporting period. Earnings on these securities are included in dividend income in the accompanying unaudited condensed
consolidated statements of income and comprehensive income and are automatically reinvested. The fair value for these securities is determined
using quoted market prices in active markets. Unrealized gains and losses for available-for-sale securities are recorded in other comprehensive
income and realized gains and losses are reported in other income. 

●Warrant accounting

The Company accounts for warrants as either equity-classified
or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance
in Financial Accounting Standards Board (“FASB”) ASC Topic 480, Distinguishing Liabilities from Equity (“ASC 480”)
and ASC Topic 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial
instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements
for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own ordinary shares and whether
the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control,
among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the
time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

For