Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 137

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 137
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Use of estimates and Assumptions

The preparation of consolidated financial statements
in conformity with U.S. GAAP management to make estimates and assumptions that affect the reported amounts of assets and liabilities
and the related disclosure of contingent assets and liabilities at the date of this consolidated financial statements, and the reported
amounts of revenue and expenses during the reporting period. We continually evaluate these estimates and assumptions based on the most
recently available information, historical experience and various other assumptions that we believe to be reasonable under the circumstances.
Significant accounting estimates reflected in our consolidated financial statements include but are not limited to estimates and judgments
applied in determination of allowance for doubtful receivables, impairment losses for long-lived assets and valuation allowance for deferred
tax assets. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from those
estimates.

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Revenue recognition

3e Network applied ASC Topic 606 “Revenue
from Contracts with Customers” (“ASC 606”) for all periods presented. The five-step model defined by ASC 606
requires the Company to (1) identify its contracts with customers, (2) identify its performance obligations under those contracts,
(3) determine the transaction prices of those contracts, (4) allocate the transaction prices to its performance obligations
in those contracts and (5) recognize revenue when each performance obligation under those contracts is satisfied. Revenue is recognized
when contracted goods or services are transferred to the customer in an amount that reflects the consideration expected in exchange for
those goods or services.

The Company has elected to apply the practical
expedient in paragraph ASC 606-10-50-14 and does not disclose information about remaining performance obligations that have an original
expected duration of one year or less.

We elected a practical expedient that it does not
adjust the contract consideration for the effects of a significant financing component if the Company expects that, upon the inception
of revenue contracts, the period between when the Company transfers its contracted services or deliverables to its customers and when
the customer pay for those services or deliverables will be one year or less.

As a practical expedient, the Company elected to
expense the incremental costs of obtaining a contract when incurred if the amortization period of the asset that the Company otherwise
would have recognized is one year or less.

We are a B2B IT business solutions provider. Started
as a business that focuses on integrated software solutions in the property management and exhibition services