Company: MKDWW
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001641172-25-002607
Chunk: 169

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-03
Form: 20-F
Item: Item 19
Chunk 169
---
───────────────────────────────────────────────────────────────────────────────────────────────────
                                                                                                 2024                               
  Convertible Note Principal- Issued in November 2024                                            $                       1,851,000  
  Convertible Note Interest Adjustment                                                                                   ( 135,715  
  Fair value adjustment for Pre-Delivery Shares related to the issuance of Convertible Note                              ( 846,360  
  Total                                                                                          $                         868,925  

MKDWELL
TECH INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

(In
U. S. dollars, except share and per share data)

15. ORDINARY SHARES

As
of December 31, 2022, MKD Taiwan had issued an aggregate of 27,278,652 10

In
connection with the Taiwan Reorganization (Note 1), the Company has issued 17,011,476 9,642,373 0.33 5.6

In
execution of the Business Combination Agreement with Cetus Capital, the Company acquired 42 1,627,729 1,627,729 4,932,512 2,795,826

In
August 2023, the Company issued total 2,500,001 1,417,040 0.33 0.35 882,000

The
shareholders’ equity structures of the Company for the periods presented were presented after giving retroactive effect to the
Reverse Recapitalization of the Company that was completed on the Closing Date as mentioned in Note 1. As of the Closing Date of the
Reverse Recapitalization, the Company had 16,788,342 0.0001

On
December 9, 2024, pursuant to the November 2024 SPA, the Company issued 1,800,000

As
of December 31, 2024, the Company’s total issued ordinary shares were 18,588,342 16,788,342 0.0001

16. NON-CONTROLLING INTERESTS

As
a result of the Taiwan Reorganization (Note 1), the shareholders of MKD Taiwan who did not participate in the Taiwan Reorganization and
will continue to directly own 37.64 37.64

17. RESTRICTED NET ASSETS

A
significant portion of the Company’s operations are conducted through its mainland China subsidiaries, the Company’s ability
to pay dividends is primarily dependent