Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 359

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 359
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 affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Information about critical judgments, estimates and assumptions in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements is included in the following notes:

| 1. | Impairment of non-financial assets |

In the process of evaluating the potential impairment of non-financialassets other than goodwill, the Company is required to make subjective judgments in determining the independent cash flows, useful lives, expected future revenue and expenses related to the F-92

PayNow Inc. Notes to the Financial Statements (Continued) specific asset groups. Any changes in these estimates, due to shifts in economic conditions or business strategies, could result in significant impairment charges or reversals in future years.

| 2. | Recognition of deferred tax assets |

Deferred tax assets are recognized to the extent that it is probable that future taxable profits will be available against which those deferred tax assets can be utilized. Assessment of the realization of the deferred tax assets requires the Company’s subjective judgment and estimate, including the future revenue growth and profitability, the sources of taxable income, the amount of tax credits that can be utilized and feasible tax planning strategies. Changes in the economic environment, the industry trends and relevant laws and regulations may result in adjustments to the deferred tax assets.

| NOTE 5. | Cash and restricted cash |

|                                                              |     | December 31, 
 2022         |             |
|:-------------------------------------------------------------|:----|:-------------|------------:|
| Cash on hand                                                 |     | $            |      21,227 |
| Bank Deposits                                                |     |              |  39,384,676 |
| Total cash in the statement of financial position            |     |              |  39,405,903 |
| Contractually restricted cash                                |     |              |  95,575,208 |
| Total cash and restricted cash in the statement of cash flow |     | $            | 134,981,111 |

Contractually restricted cash was collected from payment processing services through web ATM and convenience store payment methods and deposited into the designated demand deposit accounts. This cash was subject to contractual restrictions on use, as agreed upon with the merchants.

| NOTE 6. | Other financial assets