Future Vision II Acquisition Corp.(FVNNU) - 2025 Q1 - Quarterly Report

Financial Performance - As of March 31, 2025, the company reported a net income of $454,300, primarily from interest income on marketable securities held in the trust account [125]. - The company has incurred a net loss of$2,091 from inception through March 31, 2024, related to formation and operating expenses [125]. IPO and Fundraising - The company completed its IPO on September 13, 2024, issuing 5,000,000 Units at $10.00 per Unit, generating gross proceeds of$50,000,000, with offering costs of $1,845,513 [120]. - An over-allotment option was exercised, generating an additional$7,500,000 in gross proceeds, bringing total funds raised to $57,500,000 [120]. - The company intends to use net proceeds from the IPO to acquire target businesses and cover related expenses [127]. - All 5,750,000 Ordinary Shares sold in the IPO contain a redemption feature, allowing for redemption in connection with liquidation or business combination [138]. Financial Position - The company had cash of$1,142,445 and marketable securities of $59,218,058 in the Trust Account as of March 31, 2025 [126]. - The company has no long-term debt or off-balance sheet arrangements as of March 31, 2025 [131]. - The company is obligated to pay a deferred underwriting commission of$575,000 to underwriters from the Trust Account [132]. Going Concern - The company expects to incur significant costs related to being a public company and pursuing a business combination, raising concerns about its ability to continue as a going concern [130]. Accounting Standards - FASB issued ASU 2023-07 requiring annual and interim disclosures of significant segment expenses and other segment items for public entities, effective for fiscal years beginning after December 15, 2023 [142]. - ASU 2023-09 mandates expanded disclosures of income taxes paid and incremental income tax information, effective for fiscal years beginning after December 15, 2024 [143]. - Company management believes that the adoption of ASU 2023-09 will not have a material impact on financial statements and disclosures [143]. - Company does not anticipate any material effect from recently issued accounting standards that are not yet effective [144]. - As a smaller reporting company, there are no required disclosures under market risk [145].