Company: BAYAU
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011820
Chunk: 27

Company: Bayview Acquisition Corp
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 projections of any evaluation of effectiveness
to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.

Our management,
including our Chief Executive Officer and Chief Financial Officer, has conducted an assessment regarding the effectiveness of our
internal control over financial reporting as of March 31, 2025, based on the framework established in Internal Control - Integrated
Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on our assessment under the
criteria described above, management has concluded that our internal control over financial reporting was not effective as of March
31, 2025, due to the material weakness in our internal control over financial reporting related to the Company’s lack of
qualified SEC reporting professional and adequate review and approval of financial statements, including relevant balances and disclosures. As a result, we performed additional analysis as deemed necessary to ensure that our
financial statements were prepared in accordance with U.S. GAAP. Accordingly, management believes that the financial statements
included in this Form 10-Q present fairly, in all material respects, our financial position, result of operations and cash flows for
the periods presented. Management intends to continue implement remediation steps to improve our disclosure controls and procedures
and our internal control over financial reporting. Specifically, we intend to expand and improve our review process for complex
securities and related accounting standards. We have improved this process by enhancing access to accounting literature,
identification of third-party professionals with whom to consult regarding complex accounting applications and consideration of
additional staff with the requisite experience and training to supplement existing accounting professionals.

18

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over
financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) during the most recent fiscal quarter
that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 1A. RISK FACTORS

Factors that could cause our actual results to differ
materially from those in this Quarterly Report are any of the risks described in (i) our final prospectus for our Initial Public Offering
filed with the SEC on December 19, 2023, and (ii) our annual report on Form 10-K