Company: EZOO
Filing Date: 2025-05-15
Form Type: 10-K
Source: 0001641172-25-010460
Chunk: 404

Company: Ezagoo Ltd
Filing Date: 2025-05-15
Form: 10-K
Item: Item 15
Chunk 404
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 party transaction when there is a transfer of resources or obligations between related parties.

Transactions
involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive,
free market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related
party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations
can be substantiated.

● Recent accounting pronouncements

The
Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of
any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

4.
                                            PROPERTY AND EQUIPMENT

SCHEDULE
OF PROPERTY AND EQUIPMENT

    2024  
    2023 

    As
    of December 31, 

    2024  
    2023 
  
    Office equipment 
    $42,332  
    $42,332 
  
    Less: Accumulated depreciation 
     (42,332) 
     (42,332)
  
    Property and
    equipment, net 
    $-  
    $- 

Depreciation
expense, classified as operating expenses, was $0 and $1,124 for the twelve months ended December 31, 2024 and 2023, respectively.

    F-11

EZAGOO
LIMITED

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

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

5.
AMOUNT DUE FROM RELATED PARTIES

 SCHEDULE
OF DUE FROM RELATED PARTY

    2024  
    2023 

    As
    of December 31, 

    2024  
    2023 
  
    Related party H 
    $-  
    $141 
  
    Total amount due from
    related parties 
    $  -  
    $141 

The
related party H, Hunan Bright Lionrock Mountain Resort Limited. It’s owns by related party J, Beijing Ezagoo Industrial
Development Group Holding Limited, and related party G, Hunan Kuaile Motors Camping Site Investment Development Ltd.
with equity of