Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 1100

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 9C
Chunk 1100
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ended December 31, 2024 and for the period from February 16, 2023 (inception) through December 31, 2023, respectively, which were held
in the trust accounts as earned and therefore presented as an adjustment to the operating activities in the Statement of Cash Flows.

Offering
Costs

Offering
costs consist of legal, accounting, and other costs (including underwriting discounts and commissions) incurred through the balance sheet
date that are directly related to the IPO and that were charged to shareholders’ equity upon the completion of the IPO on December
19, 2023.

Income
Taxes

The
Company follows the asset and liability method of accounting for income taxes under ASC 740, “Income Taxes.” Deferred
tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial
statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are
measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to
be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period
that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected
to be realized.

ASC
740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions
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. 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 December 31, 2024.
The Company is currently not aware of any issues under review that could result in significant payments, accruals, or material deviation
from its position.

There
is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman income tax regulations,
income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements.

Net
Income (Loss) per Ordinary Share

The
Company complies with accounting and disclosure requirements of FASB ASC 260, Earnings Per Share. The statements of operations include
a presentation of income (loss) per redeem