Company: MKDWW
Filing Date: 2025-01-23
Form Type: F-1
Source: 0001493152-25-003296
Chunk: 169

Company: MKDWELL Tech Inc.
Filing Date: 2025-01-23
Form: F-1
Chunk 169
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 of, and MKD Taiwan became a 62.36% owned subsidiary of, and was operated by Pubco, with Pubco serving as the public listed company whose shares shall be traded on Nasdaq. MKDMerger1 Inc. and MKDMerger2 Inc. were dissolved subsequently.

As of December 31, 2023, the Company and its major subsidiaries were as follows:

SCHEDULE OF COMPANY AND ITS MAJOR SUBSIDIARIES

| F-5 |

MKDWELL TECH INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

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

2. GOING CONCERN

The Company’s unaudited condensed 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$ 970,240and US$ 1,725,210for the six months ended June 30, 2023 and 2024, respectively. Net cash used in operating activities were US$ 341,714and $ 1,398,540for the six months ended June 30, 2023 and 2024, respectively. As of June 30, 2024, the Company’s accumulated deficits were US$ 12,621,494, with a working capital deficit of US$ 4,843,015. The Company’s operating results for future periods are subject to numerous uncertainties and it is uncertain if the Company will be able to reduce or eliminate its net losses for the foreseeable future. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.

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 unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Security