Company: EZOO
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022083
Chunk: 40

Company: Ezagoo Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 40
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 prevailing during the period. The gains and losses resulting from translation
of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income (loss) within
the statements of stockholders’ deficit.

Translation
of amounts from RMB into US$1 has been made at the following exchange rates for the respective periods:

SCHEDULE OF FOREIGN CURRENCY TRANSLATION OF
EXCHANGE RATES 

    2025  
    2024 

    As of and for the nine months ended September 30, 

    2025  
    2024 
  
    Period-end RMB: US$1 exchange rate 
     7.12  
     7.02 
  
    Period-average RMB: US$1 exchange rate 
     7.22  
     7.19 
  
    Period-end HK$: US$1 exchange rate 
     7.78  
     7.77 
  
    Period-average HK$: US$1 exchange rate 
     7.80  
     7.81 
  
    Foreign exchange rate 
     7.80  
     7.81 

●
Cash and cash equivalents

The
company considers all highly liquid instruments with a maturity of nine months or less at the time of issuance to be cash equivalents.
Cash and cash equivalents consist of cash on hand, demand deposits placed with banks that located in US, the Hong Kong and mainland China.

    F-7

EZAGOO
LIMITED

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(Currency
expressed in United States Dollars (“US$”), except for number of shares)

●
Property and equipment

Property
and equipment are carried at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives, using the
straight-line method. Estimated useful lives of the property and equipment are as follows:

SCHEDULE
OF PLANT AND EQUIPMENT EXPECTED USEFUL LIVES 

    Office equipment 
    3-5 years

The
cost of maintenance and repairs is charged to expenses as incurred, whereas significant renewals and betterments are capitalized.

●
Lease

The
Company accounts for its leases in accordance with ASC 842 Leases. The Company leases office space. The Company concludes on whether
an arrangement is a lease at inception. This determination as to whether an arrangement contains a lease is based on an assessment