Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 226

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 226
---
 ​ |
| Combined market value of the total number of underlying shares                                                                          |   | $ | 2,833,476 |
| ​                                                                                                                                       | ​ | ​ |         ​ |
| Combined value of the total number of underlying shares at the conversion price per share                                               |   | $ | 2,398,000 |
| ​                                                                                                                                       | ​ | ​ |         ​ |
| Total possible per share discount to the market price as of the date of sale of the convertible notes                                   | ​ | $ |    0.2875 |
| ​                                                                                                                                       | ​ | ​ |         ​ |
| Total possible profit that could be realized as a result of the conversion discount as of the date of sale of the convertible notes     |   | $ |   435,476 |

RELATED PARTY TRANSACTIONS In addition to the executive officer and director compensation arrangements discussed in “Management”, below we describe transactions since incorporation, to which we have been a participant, in which the amount involved in the transaction is material to our company and in which any of the following is a party: (a) enterprises that directly or indirectly through one or more intermediaries, control or are controlled by, or are under common control with, our Company; (b) associates; (c) individuals owning, directly or indirectly, an interest in the voting power of our Company that gives them significant influence over our Company, and close members of any such individual’s family; (d) key management personnel, that is, those persons having authority and responsibility for planning, directing and controlling the activities of our Company, including directors and senior management of companies and close members of such individuals’ families; and (e) enterprises in which a substantial interest in the voting power is owned, directly or indirectly, by any person described in (c) or (d) or over which such a person is able to exercise significant influence. Transactions with Certain Related Parties We adopted an audit committee charter, which requires the committee to review all related party transactions on an ongoing basis and all such transactions be approved by the audit committee. In determining whether to approve a related party transaction, the audit committee shall consider, among other factors, the following factors to the extent relevant to the related party transaction:

| ● | whether the terms of the related party transaction are fair to the Company and on the same basis as would apply if the transaction did not involve a related party; |

| ● | whether there are business reasons for the Company to enter into the related party transaction; |

| ● |