Company: FVN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008627
Chunk: 89

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 2
Chunk 89
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 issued with other freestanding instruments (i.e.,
Rights), the initial carrying value of ordinary shares classified as temporary equity has been allocated to the proceeds determined
in accordance with ASC 470-20. If it is probable that the equity instrument will become redeemable, the Company has the option to
either (i) accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes
probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or (ii) recognize
changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption
value at the end of each reporting period. The Company has elected the accretion method (i) to recognize the changes in redemption
value as a charge against retained earnings or, in the absence of retained earnings, by a charge against additional paid-in-capital
over an expected 18-month period, which is the initial period that the Company has to complete a Business Combination. The Company
reassessed the estimation of redemption shares value as of each subsequent quarterly period end.

Recent Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating officer decision maker (“CODM”), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. The ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. Public entities will be required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment are required to provide all the disclosures required by the amendments in this ASU and existing segment disclosures in Topic 280. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. We adopted ASU 2023-07 on January 1, 2025 and concluded that there was no material impact on our financial statements and disclosures.

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In December 2023, the FASB