Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 285

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 285
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 company” (“EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”).
Under the JOBS Act, EGC can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until
such time as those standards apply to private companies. The Group does not opt out of extended transition period for complying with any
new or revised financial accounting standards. Therefore, the Group’s financial statements may not be comparable to companies that
comply with public company effective dates.

In October 2023, the FASB
issued ASU No. 2023-06, “Disclosure Improvements — Codification Amendments in Response to the SEC’s Disclosure
Update and Simplification Initiative”. The amendments in this ASU are in response to the U.S. Securities and Exchange Commission’s
(SEC) Release No. 33-10532, Disclosure Update and Simplification, in which the SEC referred certain of its disclosure requirements
that overlap with, but require incremental information to, generally accepted accounting principles to the FASB for potential incorporation
into the Codification. For entities subject to the SEC’s existing disclosure requirements and for entities required to file or furnish
financial statements with or to the SEC in preparation for the sale of or for purposes of issuing securities that are not subject to contractual
restrictions on transfer, the effective date for each amendment will be the date on which the SEC’s removal of that related disclosure
from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. For all other entities, the amendments
will be effective two years later. For all entities, if by June 30, 2027, the SEC has not removed the applicable requirement
from Regulation S-X or Regulation S-K, the pending content of the related amendment will be removed from the Codification and
will not become effective for any entity. The Group is still evaluating the impact of this amendment to the Group’s consolidated
financial position, results of operations and cash flow.

In December 2023, the
FASB issued ASU 2023-09, “Improvement to Income Tax Disclosure”. This standard requires more transparency about income
tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information.
This standard also includes certain other amendments to improve the effectiveness of income tax disclosures. ASU 2023-09 is effective
for public business entities, for annual periods beginning after December 15