Company: EZOO
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022083
Chunk: 36

Company: Ezagoo Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 36
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oo Zhicheng
Internet Technology Limited that change the company name on December 2, 2020). CETL is to be compensated with 100% of all profits generated
by Beijing Ezagoo Zhicheng Internet Technology Limited. This Agreement is effective as of July 20, 2018 and will continue in effect for
a period of ten (10) years (the “Initial Term”), and for succeeding periods of the same duration (each, “Subsequent
Term”), until terminated by one of the following means either during the Initial Term or thereafter: Mutual Consent, Termination
by CETL, Breach or Insolvency. Beijing Ezagoo Zhicheng Internet Technology Limited is considered to be a variable interest entity to
Changsha Ezagoo Technology Limited, and therefore a VIE of the issuer, Ezagoo Limited, a Nevada Company. More information regarding this
agreement can be found in exhibit 10.3, titled, “Management Services Agreement” on the Form S-1 Amendment No.3, filed on
May 3, 2019.

On
July 20, 2018, CETL entered into and consummated an agreement with BESH and RFLL whereas BESH and RFLL have pledged their equity interests
in Beijing Ezagoo Zhicheng Internet Technology Limited, to CETL. More information regarding this agreement can be found in exhibit 10.4,
titled, “Equity Pledge Agreement” on the Form S-1 Amendment No.3, filed on May 3, 2019.

On
July 20, 2018, CETL entered into a loan agreement with BESH and RFLL wherein CETL will loan the amount of approximately CNY$100,000 (Chinese
Yuan) to BESH and RFLL, all of which shall be used for the benefit of Beijing Ezagoo Zhicheng Internet Technology Limited. The total
amount of the loan is due on, or before, December 31, 2018. More information regarding this agreement can be found in exhibit 10.5, titled,
“Loan Agreement” on the Form S-1 Amendment No.3, filed on May 3, 2019.

On
July 31, 2018, Xin Yang was appointed Chief Financial Officer of the Company.

On
January 18, 2021, RFLL, one of the Equity owners of BEZL, had transferred their 20% equity