Business Context and Reporting Period
Company: Future Vision II Acquisition Corp. (FVN)
Reporting Period: Year ended December 31, 2025 (Fiscal Year 2025)
Business Type: Cayman Islands exempted company and Special Purpose Acquisition Company (SPAC) formed to effect a business combination.
Operational Status: The Company has not commenced operations. Activities are limited to organizational efforts and searching for a target business. The Company generated no operating revenues.
Recent Developments:
- Terminated Deal: On December 29, 2025, the Company terminated a Merger Agreement with VIWO Technology Inc.
- New Agreement: On January 16, 2026 (subsequent to period end), the Company entered into a Merger Agreement with MicroTouch Technology INC to acquire the target for an enterprise value of $90,000,000.
Key Financial Metrics
| Metric | Year Ended Dec 31, 2025 | Period Inception to Dec 31, 2024 |
|---|---|---|
| Net Income | $2,070,450 | $640,343 |
| Operating Expenses | $391,049 | $190,611 |
| Interest/Investment Income | $2,461,499 | $830,954 |
| Cash and Cash Equivalents | $1,024,709 | $1,332,505 |
| Marketable Securities (Trust Account) | $61,035,590 | $58,605,697 |
| Working Capital | $866,709 | N/A |
| Total Liabilities | $158,000 | $111,333 |
| Shares Outstanding (Total) | 7,544,000 | 7,544,000 |
Note: Net income is primarily driven by interest income earned on marketable securities held in the Trust Account ($2,429,893 for 2025).
Material Changes vs. Prior Period
- Trust Account Growth: Marketable securities in the Trust Account increased by approximately $2.43 million, reflecting interest income earned during 2025.
- Operating Expenses: Operating expenses increased by $200,438 (105% increase) year-over-year, driven by formation costs and administrative fees.
- Related Party Payables: Amounts due to the Sponsor (HWei Super Speed Co. Ltd.) for administrative services increased from $36,333 to $158,000.
- Shareholder Equity: Total Shareholders' Equity decreased from $7,694,207 to $1,804,521 due to the accretion of ordinary shares subject to possible redemption ($7,960,136 charge against equity).
Guidance, Outlook, and Risks
Outlook and Strategy:
- The Company intends to consummate a business combination with MicroTouch Technology INC. Upon closing, the Company will change its name to "MicroTouch Inc."
- The Company has until September 13, 2026, to complete an initial business combination. If not completed, the Company will liquidate and redeem public shares.
- Management has determined that the mandatory liquidation requirement raises substantial doubt about the Company's ability to continue as a "going concern."
Risks and Contingencies:
- Going Concern: The independent auditor's report includes an explanatory paragraph regarding substantial doubt about the Company's ability to continue as a going concern.
- Deal Risk: There is no assurance the MicroTouch transaction will close. The previous deal with VIWO was terminated.
- Geopolitical Risk: The target (MicroTouch) operates in Hong Kong. Risks include PRC government oversight, data security regulations, and potential extraterritorial application of Chinese laws.
- Liquidity: Funds in the Trust Account are restricted and generally unavailable for working capital until a business combination is consummated.
Investor Verification Checklist
- Merger Agreement Status: Verify the current status of the MicroTouch Merger Agreement entered into on January 16, 2026, and any conditions precedent required for closing.
- Trust Account Balance: Confirm the current per-share redemption value in the Trust Account, which was approximately $10.61 per share ($61,035,590 / 5,750,000 public shares) as of December 31, 2025.
- Going Concern Assessment: Review management's plans to secure a business combination before the September 13, 2026, liquidation deadline.
- Related Party Transactions: Monitor the $158,000 payable to the Sponsor and the $10,000 monthly administrative fee arrangement.
- Deferred Underwriting: Note the $575,000 deferred underwriting commission payable only upon successful consummation of a business combination.