Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 562

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 5
Chunk 562
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 primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel
to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate
documents and material agreements of prospective target businesses, and structure, negotiate and complete a business combination.

If we are unable to consummate the Company’s
Initial Business Combination by March 27, 2025 (unless further extended), the Company will, as promptly as possible but not more than
ten business days thereafter, redeem 100% of the Company’s outstanding public shares for a pro rata portion of the funds held in
the Trust Account, including a pro rata portion of any interest earned on the funds held in the Trust Account and not necessary to pay
taxes, and then seek to liquidate and dissolve. However, the Company may not be able to distribute such amounts as a result of claims
of creditors which may take priority over the claims of the Company’s public shareholders. In the event of dissolution and liquidation,
the Company’s warrants will expire and will be worthless.

Additionally, we may not be able to obtain additional
financing. If we are unable to raise additional capital, we may be required to take additional measures to conserve liquidity, which could
include, but not necessarily be limited to, curtailing operations, suspending the pursuit of a potential transaction, and reducing overhead
expenses. We cannot provide any assurance that new financing will be available to it on commercially acceptable terms, if at all. These
conditions raise substantial doubt about the Company’s ability to continue as a going concern if a Business Combination is not consummated
by March 27, 2025 (unless further extended). These consolidated financial statements do not include any adjustments relating to the recovery
of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a
going concern.

24

Results of Operations

Our entire activity from inception up to July
27, 2023 was in preparation for the Initial Public Offering. Since the Initial Public Offering, our activity has been limited to the evaluation
of business combination candidates, and we will not be generating any operating revenues until the closing and completion of our initial
business combination. We expect to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting
and auditing compliance), as well as for due diligence expenses. We expect our expenses to increase substantially after this period.

For the year ended