Company: MKDWW
Filing Date: 2025-02-21
Form Type: F-1/A
Source: 0001493152-25-007784
Chunk: 190

Company: MKDWELL Tech Inc.
Filing Date: 2025-02-21
Form: F-1/A
Chunk 190
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                                  |          - |   |     |      |          - |   |
| Interest expense paid                                                           |     |                                  |    216,936 |   |     |      |    215,073 |   |
| Supplemental disclosures of non-cash activities:                                |     |                                  |            |   |     |      |            |   |
| Shares issued for the acquisition of non-controlling interest                   |     |                                  |          - |   |     |      |    573,032 |   |
| Debt to equity conversion from third parties                                    |     |                                  |    100,806 |   |     |      |          - |   |
| Debt to equity conversion from related parties                                  |     |                                  |    369,624 |   |     |      |          - |   |
| Debt to a subsidiary’s equity conversion from a related party                   |     |                                  |  1,627,729 |   |     |      |          - |   |
| Real estate properties reclassified to property, plant and equipment            |     |                                  |   (222,322 | ) |     |      |   (325,385 | ) |
| Real estate properties reclassified to intangible assets                        |     |                                  |    (19,936 | ) |     |      |    (45,158 | ) |

<div align='center'>The accompanying notes are an integral part of these consolidated financial statements.</div>

| F-22 |

<div align='center'>MKDWELL TECH INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(In U.S. dollars, except share and per share data)</div>

1. ORGANIZATION AND PRINCIPAL ACTIVITIES

MKDWELL TECH INC. (“MKD BVI”) was incorporated in the British Virgin Islands on July 25, 2023 as a nonoperating shell company. MKD Technology Inc. (“MKD Taiwan”) was incorporated in Taiwan on September 26, 2006. MKD BVI, through its subsidiary MKD Taiwan and MKD Taiwan’s subsidiaries (collectively, the “Company”), primarily engages in designing and manufacturing industrial embedded system and automotive electronics in Taiwan and mainland China.

On June 20, 2023, MKD BVI and MKD Taiwan entered into a business combination agreement with Cetus Capital Acquisition Corp., and in connection therewith, MKD BVI commenced a reorganization by way of share acquisition, in which MK