Company: MKDWW
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001641172-25-002607
Chunk: 144

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-03
Form: 20-F
Item: Item 19
Chunk 144
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2               Delaware                       100      Blank check company                                                                         
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MKDWELL
TECH INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

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

2. GOING CONCERN

The
Company’s consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of
assets and liquidation of liabilities during the normal course of operations. The Company incurred net losses of US$ 1,217,086 2,068,061 3,156,995 129,863 1,323,385 3,112,605 13,731,023 7,825,925

The
Company has historically depended on financing from bank, related parties and third-party investors to support its operations. The Company’s
future operations are dependent upon equity or debt financing and its ability to generate profits through operations at an indeterminate
time in the future. The Company cannot assure that it will be successful in completing an equity or debt financing or in achieving or
maintaining profitability in the near term. The Company’s financial statements do not give effect to any adjustments relating to
the carrying values and classification of assets and liabilities that would be necessary should the Company be unable to continue as
a going concern.

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of presentation

The
consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America
(“ U. S. GAAP”) to reflect the financial position, results of operations and cash flows of the Company. Significant accounting
policies followed by the Company in the preparation of the accompanying consolidated financial statements are summarized below.

(b) Principles of consolidation

The
consolidated financial statements include the financial statements of the Company and its subsidiaries. All transactions and balances
among the Company have been eliminated upon consolidation. All intercompany transactions and balances among the Company have been eliminated
upon consolidation.

(c) Use of estimates

The
preparation of the consolidated financial statements in accordance with U. S. GAAP requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities, related disclosures of contingent assets and liabilities at the balance sheet
date, and the reported revenues and expenses during the reported periods in the