Company: FVN
Filing Date: 2025-01-07
Form Type: DRS/A
Source: 0001829126-25-000092
Chunk: 512

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-01-07
Form: DRS/A
Chunk 512
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The Company will account
for its ordinary shares subject to possible redemption in accordance with the guidance in ASC Topic 480, “Distinguishing Liabilities
from Equity” (ASC 480). Ordinary shares subject to mandatory redemption (if any) will be classified as a liability instrument and
will be measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that features redemption rights that
are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s
control) will be classified as temporary equity. At all other times, ordinary shares will be classified as stockholders’ equity.
In accordance with ASC 480-10-S99, the Company will classify the ordinary shares subject to redemption outside of permanent equity as
the redemption provisions are not solely within the control of the Company.

Related parties

Parties, which can be a corporation
or individual, are considered to be related if the Company has 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 common significant influence.

Net Loss Per Ordinary Share

The Company complies with
accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net loss per ordinary share is computed
by dividing net loss by the weighted average number of ordinary shares outstanding during the period, excluding ordinary shares subject
to forfeiture by the Sponsor. The Company applies the two-class method in calculating income per share of ordinary shares. Weighted average
shares were reduced for the effect of an aggregate of 187,500 ordinary shares that are subject to forfeiture if the over-allotment option
is not exercised by the underwriters (see Note 5). As of February 29, 2024, the Company only issue one class of shares and did not
have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share
in the earnings of the Company. As a result, diluted loss per share is the same as basic loss per share for the period presented.

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