Company: OWLS
Filing Date: 2025-09-19
Form Type: F-1/A
Source: 0001193125-25-208098
Chunk: 29

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-19
Form: F-1/A
Chunk 29
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 the effects of global economic conditions, or reductions in the aggregate spending of our
customers or shoppers with our business customers. Furthermore, in connection with our payment products and services, the complexity and costs associated with switching transaction volume to a competitor may not be significant enough to prevent our
customers from switching payment service providers, especially for larger merchants who commonly engage multiple service providers at any one time. Any failure on our part to retain existing customers, attract new customers, and increase revenue
from both new and existing customers could materially and adversely affect our business, financial condition, results of operations and prospects.

21

If we do not continue to improve our operational, financial and other internal controls and systems to manage growth effectively, our business, financial condition, results of operations and prospects may be materially and adversely affected.

Our historical growth has come in waves and driven by our rollout of additional products or services. In particular, our business has grown,
and may continue to grow, in connection with our recent investment and business focus on our Payment segment. Since the launch of OwlPay in 2023, we have expanded our business footprint into the United States, Japan, EU, Singapore and Hong
Kong and grown our team to more than 10 full-time employees in these regions, and consulted with local counsels in license applications across various jurisdictions. Our business may become increasingly complex as we grow, including as we roll out
various new payment and stablecoin-related products and services, and will continue exerting substantial demands on our management. In order to facilitate effective growth development, we must continually improve our existing infrastructure and
operational procedures, bolster our internal controls and reporting systems, and take steps to address any potential issues in a timely and accurate manner. There could be no assurance that our existing resources would meet the demand of our
continued growth in both the products and services offerings and the jurisdictions in which we operate. If we do not adapt to meet these evolving challenges, or if our team does not effectively manage our growth, our ability to compete and achieve
our business objectives could be impaired.

As we work towards expanding into additional jurisdictions, we could experience ongoing
operating difficulties in managing our business, including the difficulties in adapting to the market demands and business operations models in local markets, as well as in hiring, training, and managing a diverse and growing employee base. Our
continued growth could increase the challenges associated with preserving our company’s core values, strategies and goals, and effectively communicating these principles to our employees across the world. Failure to