Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 149

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 149
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 the product development
reaching a relatively mature stage following the launch of OwlPay in 2023. This resulted in a strategic shift towards hiring more junior-level and newly hired staff, with a focus on maintaining stable operations of our existing products and
optimizing integration with our partners, which enables us to rapidly expand the range of services and offer more options through additional partnerships within the framework of our existing products and services. Aligned with our objective of
integrating blockchain

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technology and developing its applications, we plan to enter into the next phase of product development, which will require more specialized talent and additional resources. As a result, we
expect our research and development expenses will increase in the foreseeable future as compared to 2023.

Interest Income

Our interest income increased significantly from US$3,995 in 2022 to US$96,575 in 2023, due to interest on the capital from
fundraising.

Foreign Currency Exchange Gains / Losses

Since we operate with multiple functional currencies, the information on foreign exchange gains and losses on monetary items is disclosed by
total amount. For year 2022 and 2023, foreign exchange gain (loss) (including realized and unrealized portions) amounted to US$(1,020,360) and US$71,170, respectively. Our operations are primarily denominated in NTDs, with U.S. dollars as
presentation currency in the Company’s consolidated financial statements. Due to greater fluctuations in NTDs to U.S. dollar exchange rate in 2022 compared to 2023, we experienced larger foreign currency exchange losses in 2022.

Loss on Financial Liabilities at FVTPL

Our loss on financial liabilities at FVTPL increased from US$63,555 in 2022 to US$143,693 in 2023, due to an increase in financial liabilities
associated with SAFE Agreements signed in 2023 that amounted to US$130,000.

Loss on Extension of Preference Share Liabilities

Our loss on extension of preference share liabilities increased from nil in 2022 to US$26,209 in 2023, due to the second extension
of Subscription Agreement with National Development Fund Management Committee of the Executive Yuan in 2023, pursuant to which the present value of preference share liabilities was recalculated and then the loss was recognized in 2023.

Other Losses

Other losses increased from US$905 in 2022 to US$24,288 in 2023, due to