Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 234

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 234
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 deemed to hold)
Class A Ordinary Shares and for which we are determined to be a PFIC, you will include in your income each year an amount equal to
the excess, if any, of the fair market value of the Class A Ordinary Shares as of the close of such taxable year over your adjusted
basis in such Class A Ordinary Shares, which excess will be treated as ordinary income and not capital gain. You are allowed an
ordinary loss for the excess, if any, of the adjusted basis of the Class A Ordinary Shares over their fair market value as of the
close of the taxable year. Such ordinary loss, however, is allowable only to the extent of any net mark-to-market gains on the
Class A Ordinary Shares included in your income for prior taxable years. Amounts included in your income under a
mark-to-market election, as well as gain on the actual sale or other disposition of the Class A Ordinary Shares, are treated as
ordinary income. Ordinary loss treatment also applies to any loss realized on the actual sale or disposition of the Class A Ordinary
Shares, to the extent that the amount of such loss does not exceed the net mark-to-market gains previously included for such
Class A Ordinary Shares. Your basis in the Class A Ordinary Shares will be adjusted to reflect any such income or loss amounts. If
you make a valid mark-to-market election, the tax rules that apply to distributions by corporations which are not PFICs would
apply to distributions by us, except that the lower applicable capital gains rate for qualified dividend income discussed above
under “— Taxation of Dividends and Other Distributions on our Class A Ordinary Shares” generally would not
apply.

The mark-to-market election is available only
for “marketable stock,” which is stock that is traded in other than de minimis quantities on at least 15 days during
each calendar quarter (“regularly traded”) on a qualified exchange or other market (as defined in applicable U.S. Treasury
regulations), including the Nasdaq (on which our Class A Ordinary Shares are listed). If the Class A Ordinary Shares are regularly traded on the Nasdaq and
if you are a holder of Class A Ordinary Shares, the mark-to-market election would be available to you were we to be or become a PFIC; however, we cannot guarantee that our Class A Ordinary Shares will continue
to be listed and regularly traded on the Nasdaq. U.S. Holders are advised to consult their tax advisors as to whether the Class A Ordinary