Company: FVN
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0001829126-25-001482
Chunk: 50

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 1B
Chunk 50
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FUTURE VISION II ACQUISITION CORP.

NOTES TO FINANCIAL STATEMENTS

December 31, 2024

Ordinary shares subject to possible redemption reflected in the balance sheet are recorded in the following table:

    Schedule of Ordinary shares subject to possible redemption

    Gross proceeds
     
    $
    57,500,000

    Less:

    Proceeds allocated to public rights

    (5,010,612
    )
  
    Offering costs allocated to redeemable shares

    (1,684,693
    )
  
    Plus:

    Accretion of carrying value to redemption value

    1,332,947

    Ordinary shares subject to possible redemption as of December 31, 2024
     
    $
    52,137,642

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 Income (Loss) Per Ordinary Share

The Company complies with accounting and
disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. The statements of operations include a presentation
of income (loss) per redeemable share and income (loss) per non-redeemable share following the two-class method of income per share.
In order to determine the net income (loss) attributable to both the redeemable shares and non-redeemable shares, the Company first
considered the undistributed income (loss) allocable to both the redeemable shares and non-redeemable shares and the undistributed
income (loss) is calculated using the total net income (loss) less any dividends paid. The Company then allocated the undistributed
income (loss) ratably based on the weighted average number of shares outstanding between the redeemable and non-redeemable shares.
Any remeasurement of the accretion to redemption value of the shares subject to possible redemption was considered to be dividends
paid to the public shareholders. For the period from January 30, 2024 (inception) through December 31, 2024, the Company
did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and
then share in the