Company: MKDWW
Filing Date: 2025-03-13
Form Type: 424B4
Source: 0001493152-25-010187
Chunk: 132

Company: MKDWELL Tech Inc.
Filing Date: 2025-03-13
Form: 424B4
Chunk 132
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 promissory note. On February 3, 2023, the total principal amount of $216,837 was converted into part of the subscription of $2,868,750 private placement at a price of $10.00 per unit. The promissory note was cancelled and no amounts were then owed under the note. Cetus Capital has incurred 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 Cetus Capital’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 Cetus Capital’s ability to continue as a going concern. In addition, if Cetus Capital is unable to complete a Business Combination within the Combination Period, Cetus Capital’s board of directors would proceed to commence a voluntary liquidation and thereby a formal dissolution of Cetus Capital. As a result, management has determined that such additional condition also raise substantial doubt about Cetus Capital’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.

Cetus Capital’s Critical Accounting Policies and Estimates

This management’s discussion and analysis of Cetus Capital’s financial condition and results of operations is based on Cetus Capital’s unaudited financial statements included in this prospectus, which have been prepared in accordance with United States generally accepted accounting principles. The preparation of these financial statements required Cetus Capital to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in its financial statements. On an ongoing basis, Cetus Capital evaluates its estimates and judgments, including those related to fair value of financial instruments and accrued expenses. Cetus Capital bases its estimates on historical experience, known trends and events and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

Cetus Capital’s Common Stock Subject to Redemption

Cetus Capital accounts for its common stock subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Common stock subject to mandatory redemption is