Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 953

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 9
Chunk 953
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’s investments held in the trust account
are classified as trading securities. Trading securities are presented on the balance sheet at fair value at the end of each reporting
period. Gains and losses resulting from the change in fair value of investments held in Trust Account are included in interest earned
on marketable securities held in trust account in the accompanying statements of operations. The estimated fair value of investments
held in the trust account is determined using available market information. As of December 31, 2024 and 2023, the Trust Account had balances
of $39,582,820 and $60,107,055, respectively. The interests earned from the trust account totaled $2,779,141 and $107,055 for the year
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