Company: MKDWW
Filing Date: 2025-04-15
Form Type: 424B3
Source: 0001641172-25-004780
Chunk: 129

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-15
Form: 424B3
Chunk 129
---
 for the year ended December 31, 2023, which was primarily attributable to a decrease of US$0.05 million in government subsidies with respect to salary and working capital subsidies from Taiwan government in 2023.

Net loss

As a result of the foregoing, our net loss increased by US$0.85 million, or 69.9% from US$1.22 million for the year ended December 31, 2022 to US$2.07 million for the year ended December 31, 2023.

Going concern and Capital Resources

Our consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and liquidation of liabilities during the normal course of operations. We incurred net losses of US$1.22 million, US$2.07 million and US$3.16 million for the years ended December 31, 2022, 2023 and 2024, respectively. Net cash used in operating activities were US$0.13 million, US$1.32 million and US$3.11 million for the years ended December 31, 2022, 2023 and 2024, respectively. As of December 31, 2024, our accumulated deficits were US$13.73 million, with a working capital deficit of US$7.83 million. Our operating results for future periods are subject to numerous uncertainties and it is uncertain if we will be able to reduce or eliminate our net losses for the foreseeable future. These conditions raise substantial doubt about our ability to continue as a going concern.

We have historically depended on financing from bank, related parties and third-party investors to support our operations. Our future operations are dependent upon equity or debt financing and our ability to generate profits through operations at an indeterminate time in the future. We cannot assure that we will be successful in completing an equity or debt financing or in achieving or maintaining profitability in the near term. Our financial statements do not give effect to any adjustments relating to the carrying values and classification of assets and liabilities that would be necessary should we be unable to continue as a going concern.

Cash Flows

The following table sets forth a summary of our cash flows for the years indicated:

|                                                  |     | For the years ended December 31, 
 2022                             
 US$                              |          |   |     | 2023 
 US$  |            |   |     | 2024 
 US$  |            |   |
|:-------------------------------------------------