Company: KVACU
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043269
Chunk: 61

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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 ACQUISITION CORPORATION

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS

The fair value hierarchy is categorized into three
levels based on the inputs as follows:

Level 1 — Valuations based on
unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation
adjustments and block discounts are not being applied. Since valuations are based on quoted prices that are readily and regularly
available in an active market, the valuation of these securities does not entail a significant degree of judgment.

Level 2 — Valuations based on (i)
quoted prices in active markets for similar assets and liabilities, (ii) quoted prices in markets that are not active for identical
or similar assets, (iii) inputs other than quoted prices for the assets or liabilities, or (iv) inputs that are derived principally
from or corroborated by the market through correlation or other means.

Level 3 — Valuations based on inputs
that are unobservable and significant to the overall fair value measurement.

In some circumstances, the inputs used to measure
fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is
categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

The fair value of the Company’s certain
assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurements and Disclosures,” approximates
the carrying amounts represented in the unaudited condensed consolidated balance sheets. The fair values of cash and other current assets,
accrued expenses, due to a related party are estimated to approximate the carrying values as of March 31, 2025 and December 31, 2024 due
to the short maturities of such instruments.

The following table presents information about
the Company’s assets and liabilities that were measured at fair value on a recurring basis as of March 31, 2025 and December 31,
2024, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

    March 31,  
    Quoted Prices In Active Markets  
    Significant Other Observable Inputs  
    Significant Other Unobservable Inputs 
  
    Description 
    2025  
    (Level 1)  
    (Level 2)  
    (Level 3) 
  
    Assets: