Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 263

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 19
Chunk 263
---
 stock split adjusted2,032)
and12,195(post-reverse stock split adjusted to2,032) Class B ordinary shares issued and outstanding as of December 31, 2024 and 2023,
respectively.

Shares issued for consulting services

On August 17, 2020, the Company
signed a consulting agreement with a third-party consultant. Pursuant to the agreement, the Company agreed to pay a total of2(post-reverse
stock split adjusted to 1) restricted Class A ordinary shares for service term oftwo yearsas compensation. The Company has issued the
above2(post-reverse stock split adjusted to1) restricted Class A ordinary shares on March 1, 2022. The fair value of those restricted
shares was assessed at $27,900based on the stock price of contract date.

On May 18, 2022, the Company
issued8(post-reverse stock split adjusted to1) Class A ordinary shares as compensation to an advisory firm for the related investor
relations advisory service. The fair value of those shares was assessed at $11,564based on the stock price of contract dates.

During the period from January
4, 2023 to August 4, 2023, the Group issued in aggregated of8,085(post-reverse stock split adjusted to1,348) Class A ordinary shares
as compensation to an advisory firm for the related investor relations advisory service. The aggregated fair value of those shares was
assessed at $1,520,867based on the stock price of contract dates.

On November 29, 2023, the
Company signed a consulting agreement with an advisory firm with term of six months. The Company agreed to pay $1,000,000worth restricted
shares as compensation to the advisory firm for the related investor relations advisory service. On December 18, 2023, the Company issued4,202(post-reverse stock split adjusted to700) restricted Class A ordinary shares to the advisory firm based on the fair market value.

On December 8, 2023, the Company
signed a consulting agreement with an advisory firm with term of six months. The Company agreed to pay $1,500,000worth restricted shares
as compensation to the advisory firm for the related investor relations advisory service. On December 18, 2023, the Company issued63,025(post-reverse stock split adjusted to10,504) restricted Class A ordinary shares to the advisory firm based on the fair market value.

For