Company: KVACU
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043269
Chunk: 114

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part II, Item 8
Chunk 114
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a target company, the specific impact is not readily determinable as of the date of these unaudited condensed consolidated financial statements.
The unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. 

Registration Rights

Pursuant
to a registration rights agreement entered into on July 24, 2023, the holders of the Founder Shares, Private Placement Units (including
securities contained therein), and units (including securities contained therein) that may be issued on conversion of working capital
loans or extension loans and are entitled to registration rights pursuant to a registration rights agreement signed on the effective date
of the Initial Public Offering requiring the Company to register such securities for resale. The holders of these securities are entitled
to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain
“piggy-back” registration rights with respect to registration statements filed subsequent to the Company’s completion
of initial business combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the
Securities Act. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriter Agreement

The underwriters are entitled to a cash underwriting
discount of 2% of the gross proceeds of the Initial Public Offering, or $2,990,000, upon the closing of the Business Combination, which
is shown as deferred underwriting expenses on the accompanying unaudited condensed consolidated balance sheets.

F-18

KEEN VISION ACQUISITION CORPORATION

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS

NOTE 8 –
SEGMENT INFOMRATION

ASC Topic 280, Segment Reporting, establishes
standards for companies to report in their financial statement information about operating segments, products, services, geographic areas,
and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available
that is regularly evaluated by the Company’s chief operating decision maker (“CODM”), or group, in deciding how to allocate
resources and assess performance.

The Company’s CODM has been identified as
the Chief Financial Officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources
and assessing financial performance. Accordingly, management has determined that the Company only has one operating segment.

When evaluating the Company’s performance
and making key decisions regarding resource allocation, the COD