Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 272

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 19
Chunk 272
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 connection of the long-term
investment of DTI, on November 1, 2022, the Company issued11,564(post-reverse stock split adjusted to1,927) Class A ordinary shares
to the original shareholders of DTI as consideration of19% equity interest. The fair value of the shares issued amounted to $9,058,701.

On January 5, 2023, the Company
entered into an equity transfer agreement with a shareholder of Smartconn which the Company agrees to purchase31% equity of Smartconn
at90% of the appraisal price. The consideration of the Acquisition will be paid in the form of23,937(post-reverse stock split adjusted
to3,989) Class A ordinary shares of the Company. The fair value of the shares issued amounted to $12,640,062

F-42

X3 HOLDINGS CO., LTD.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 16 - Equity(continued)

On March 24, 2023, the Company
entered into an equity transfer agreement with a shareholder of DTI which the Company agrees to prepaid 34,911 (post-reverse stock split
adjusted to5,818) Class A ordinary shares to purchase32% equity of DTI. In connection with the failure to acquire DTL, these34,911(post-reverse stock split adjusted to5,818) Class A ordinary shares were cancelled on January 29, 2025. The subscription receivables
was $15,906,186as of December 31, 2024 (refer to Note 5).

On March 28, 2023, the Company
entered into an equity transfer agreement with fifteen individual shareholders of Boxinrui, pursuant to which the Company agreed to pre-issue57,593(post-reverse stock split adjusted to9,598) shares to further acquire65% equity interest in Boxinrui for a consideration in form
of57,593(post-reverse stock split adjusted to9,598) Class A ordinary shares to the relevant shareholders. The fair value of the shares
issued amounted to $24,078,675.

On November 22, 2023, the
Company entered into a compensation agreement with the original shareholders of Smartconn. Pursuant to the agreement, the Company shall
issue2,669,435(post-reverse stock split adjusted to444,905) Class A ordinary shares to the previous shareholders as a compensation
due to continuous declining share price.