Company: MKDWW
Filing Date: 2025-01-23
Form Type: F-1
Source: 0001493152-25-003296
Chunk: 233

Company: MKDWELL Tech Inc.
Filing Date: 2025-01-23
Form: F-1
Chunk 233
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 that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third-party claims.

| (a) | Liquidity                                             
 and Capital Resources and Going Concern Consideration |

As of June 30, 2024, the Company had $ 181,795in cash and working capital deficit of $ 2,300,048. The Company’s liquidity needs prior to the consummation of the IPO had been satisfied through a payment from the Sponsor of $ 25,000for the Founder Shares and through up to $ 300,000in loans available from our sponsor under an unsecured promissory note. On February 3, 2023, the total principal amount of $ 216,837was converted into part of the subscription of $ 2,868,750private placement at a price of $ 10.00per unit. The promissory note was cancelled and no amounts were then owed under the note. The Company has incurred and expects to continue to incur significant professional costs to remain a publicly traded company and to incur significant transaction costs in pursuit of the consummation of a Business Combination. In connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standard Board’s Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management has determined that these conditions raise substantial doubt about the Company’s ability to continue as a going concern. In addition, if the Company is unable to complete a Business Combination within the Combination Period, the Company’s board of directors would proceed to commence a voluntary liquidation and thereby a formal dissolution of the Company. There is no assurance that the Company’s plans to consummate a Business Combination will be successful within the Combination Period. As a result, management has determined that such additional condition also raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

| F-52 |

CETUS CAPITAL ACQUISITION CORP.

NOTES TO UNAUDITED FINANCIAL STATEMENTS

NOTE 1 - Description of Organization and Business Operations (Continued)

| (b) | Risks             
 and Uncertainties |

Management continues to evaluate the impact of the COVID-19 pandemic, including any variants thereof, on the industry and has concluded that while it is reasonably possible that