Company: MKDWW
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001641172-25-002610
Chunk: 196

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-03
Form: F-1
Chunk 196
---
-lease back arrangements for the purpose of obtaining financing (Note 12 Accrued 
 expenses and other liabilities).                                                                                                   |

As of December 31, 2024, the payments of leaseback will be due according to the following schedule:

SCHEDULE OF PAYMENTS OF LEASEBACK

| For the fiscal years ended December 31,               |     | Amount |           |
|:------------------------------------------------------|:----|:-------|----------:|
| 2025                                                  |     | $      | 1,242,154 |
| 2026                                                  |     |        |   270,412 |
| 2027 and thereafter                                   |     |        |         - |
| Total payments of leaseback and vehicle mortgage loan |     | $      | 1,512,566 |

| F-26 |

MKDWELL TECH INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(In U.S. dollars, except share and per share data)

14. CONVERTIBLE NOTE

On July 24, 2024, the Company entered into a securities purchase agreement with an investor, pursuant to which the investor agreed to purchase from the Company a convertible promissory note in the aggregate principal amount of RMB 35,000,000(approximately $ 4.8million). The Company received the aggregate principal amount of RMB 35,000,000in July 2024 and the convertible note financing closed on August 12, 2024. On January 14, 2025, the parties to the securities purchase agreement executed a termination agreement and agreed to terminate the securities purchase agreement and the convertible note and release each other party from all other claims and liabilities. The note proceeds of RMB 35,000,000have been repaid to the investor in October 2024.

On November 26, 2024, the Company entered into a securities purchase agreement (the “November 2024 SPA”) with Streeterville Capital, LLC, a Utah limited liability company (the “Investor”), pursuant to which the Company issued to the Investor (i) an unsecured convertible note (“Convertible Note”), in the principal amount of $ 1,851,000, bearing interest at a rate of 7% per annum and having a term of one year after the purchase price of the Convertible Note is delivered by the Investor to the Company with an aggregate original issue discount of US$ 151,000, and (ii) 1,800,000ordinary shares