Company: MKDWW
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001641172-25-002607
Chunk: 122

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-03
Form: 20-F
Item: Item 14
Chunk 122
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ITEM
14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS

On
March 19, 2025, the Company entered into three separate debt conversion agreements (the “ Debt Conversion Agreements”) with
three creditors of the Company, being Mr. Ming-Chia Huang, a director and the chief executive officer of the Company, Ms. Ya-Hui Wu,
the spouse of Mr. Huang, and AWinner Limited, which is controlled by Mr. Chung-Yi Sun, a director of the Company, to convert such debts
owed into equity of the Company. Among these, (i) an amount of $823,100 owed to Mr. Ming-Chia Huang will be converted into 8,231,000
new ordinary shares of the Company, which will be redesignated into 8,231,000 new Class A preferred shares subject to approval by shareholders
of the Company by an ordinary resolution; (ii) an amount of $550,000 owed to Ms. Ya-Hui Wu will be converted into 5,500,000 new ordinary
shares of the Company; and (iii) an amount of $1,110,000 owed to AWinner Limited will be converted into 11,100,000 new ordinary shares
of the Company. Each Class A preferred share in the Company is intended to confer upon holder the right to 100 votes at a meeting of
the shareholders of the Company or on any resolution of shareholders. The redesignation of the 8,231,000 ordinary issued to Mr. Ming-Chia
Huang into 8,231,000 Class A preferred shares is subject to approval by shareholders of the Company by an ordinary resolution.

ITEM
15. CONTROLS AND PROCEDURES