Business Context and Reporting Period
Company: Future Vision II Acquisition Corp. (FVN)
Reporting Period: Quarter ended June 30, 2026 (Q2 2026)
Business Type: Cayman Islands exempted company (SPAC) formed to effect a business combination. The Company is a shell company and emerging growth company.
Current Status: The Company has not commenced operations. It is actively pursuing a business combination with MicroTouch Technology INC ("MicroTouch"), having terminated a prior agreement with VIWO Technology Inc. in December 2025. Shareholders approved the MicroTouch merger in July 2026.
Key Financial Metrics
| Metric | Q2 2026 (3 Months) | YTD 2026 (6 Months) | YTD 2025 (6 Months) |
|---|---|---|---|
| Net Income | $409,985 | $828,741 | $1,006,200 |
| Operating Expenses | $139,769 | $260,972 | $237,737 |
| Trust Account Income | $545,639 | $1,081,150 | $1,226,797 |
| Cash (Operating) | $788,401 (Balance) | $788,401 (Balance) | $1,115,263 (Balance) |
| Trust Account Balance | $62,882,640 | $62,882,640 | $61,035,590 |
| Working Capital | Deficit of $151,600 | Deficit of $151,600 | Positive (Historical) |
| Debt (Related Party) | $765,900 (Promissory Note) | $765,900 | $0 |
Per Share Data (YTD 2026): Earnings per share for redeemable shares: $0.23; Loss per share for non-redeemable shares: $(0.26).
Material Changes vs. Prior Period
- Operating Expenses: Increased to $260,972 for the six months ended June 30, 2026, compared to $237,737 in the prior year period, driven by formation and operating costs.
- Trust Account Growth: The Trust Account balance increased to $62,882,640 from $61,035,590 at year-end 2025, reflecting interest income and extension deposits.
- Debt Incurrence: The Company incurred $765,900 in promissory notes to a related party (Sponsor) to fund five one-month extensions of the business combination deadline. This liability was $0 in the prior comparable period.
- Equity Position: Shareholders' equity moved from a positive balance of $1,804,521 at December 31, 2025, to a deficit of $(151,600) as of June 30, 2026, primarily due to the accretion of ordinary shares subject to redemption.
Outlook, Risks, and Management Commentary
- Business Combination: The Company has entered into a merger agreement with MicroTouch Technology INC. The Form S-4 was declared effective by the SEC on June 26, 2026, and shareholders approved the merger on July 23, 2026.
- Extension Timeline: The deadline to consummate a business combination has been extended five times, most recently to August 13, 2026. The Company has one remaining one-month extension available.
- Going Concern: Management has identified substantial doubt about the Company's ability to continue as a going concern if a business combination is not consummated by the mandatory liquidation date (September 13, 2026, or the extended date).
- Nasdaq Compliance Risk: The Company received notice from Nasdaq on May 5, 2026, regarding non-compliance with the minimum public holder requirement (300 holders). Failure to regain compliance could result in delisting, which is a closing condition for the MicroTouch merger.
- Liquidity: The Company has a working capital deficit of $151,600. It relies on related party loans and extension fees to fund operations and extend the combination period.
Investor Verification Checklist
- Merger Closing Conditions: Verify the status of the MicroTouch merger closing conditions, specifically the requirement for continued Nasdaq listing.
- Nasdaq Compliance Plan: Confirm whether the Company has submitted a plan to Nasdaq to regain the 300 public holder requirement and if it has been accepted.
- Extension Funding: Monitor the ability of the Sponsor to fund the final potential extension fee of $191,475 if required.
- Redemption Risk: Assess the likelihood of public shareholders redeeming shares prior to the merger, which could impact the cash available for the transaction.
- Related Party Debt: Review the terms of the $765,900 promissory note and its potential conversion into units upon merger consummation.