Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 251

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 19
Chunk 251
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X3 HOLDINGS CO., LTD.

Note 12 - Lease(continued)

Supplemental balance sheet
information related to operating leases was as follows:

                                                 December 31,                   December 31,               
  Right-of-use assets, net                       $                 338,017      $                 357,007  
  Operating lease liabilities - current                            215,253                        260,728  
  Operating lease liabilities - non-current                        146,932                        109,956  
  Operating lease liabilities                    $                 362,185      $                 370,684  

The weighted average remaining
lease terms and discount rates for all of operating leases were as follows as of December 31, 2024:

  Remaining lease term and discount rate:                       
  Weighted average remaining lease term (years)      1.8 years  
  Weighted average discount rate                     5.0        

The following is a schedule
of maturities of lease liabilities as of December 31, 2024:

  Twelve months ending December 31,        Amount                
 ─────────────────────────────────────────────────────────────────
  2025                                     $            225,986  
  2026                                                  133,551  
  2027                                                   16,669  
  Total future minimum lease payments                   376,206  
  Less: imputed interest                               ( 14,021  
  Present value of lease liabilities       $            362,185  

Note 13 - Convertible notes

Convertible notes consist of the following:

  Streeterville Note      $                         -      $                 5,020,633  
 ────────────────────────────────────────────────────────────────────────────────────────
                          December 31,                     December 31,                 
  YA Notes                                  6,574,380                        -          
  Convertible notes       $                 6,574,380      $                 5,020,633  

Streeterville Note

On September 1, 2022, the
Group entered into a securities purchase agreement with Streeterville Capital, LLC (“ Streeterville”), pursuant to which the
Group issued the Investor an unsecured promissory note on September 1, 2022 in the original principal amount of $8,640,000(the “ Streeterville
Note”), convertible into Class A ordinary shares of the Group, for $8,000,000in gross proceeds. The transaction contemplated by
the Purchase Agreement closed on September 1, 2022. The Street