Company: MKDWW
Filing Date: 2025-03-13
Form Type: 424B4
Source: 0001493152-25-010187
Chunk: 278

Company: MKDWELL Tech Inc.
Filing Date: 2025-03-13
Form: 424B4
Chunk 278
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 or loss on the statements of operations.

At December 31, 2023, the amount of common stock subject to possible redemption reflected in the balance sheet are reconciled in the following table:

SCHEDULE OF COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION

| Gross proceeds                                          |     | $ | 57,500,000 |   |
| Less:                                                   |     |   |            |   |
| Proceeds allocated to public                            
 warrants                                                |     |   |   (230,575 | ) |
| Proceeds allocated to public                            
 rights                                                  |     |   | (2,290,800 | ) |
| Allocation of offering                                  
 costs related to redeemable shares                      |     |   | (3,208,090 | ) |
| Plus:                                                   |     |   |            |   |
| Accretion of initial carrying                           
 value to redemption value                               |     | $ |  7,739,022 |   |
| Remeasurement of subsequent                             
 measurement of common stock subject to redemption value |     |   |    214,342 |   |
| Common stock subject to                                 
 possible redemption                                     |     | $ | 59,723,899 |   |

| F-76 |

CETUS CAPITAL ACQUISITION CORP.

NOTES TO FINANCIAL STATEMENTS

Note 2 - Summary of Significant Accounting Policies (Continued)

(o) Recently issued accounting pronouncements

In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-06, Debt —Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and free-standing instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective January 1, 2024 and should be applied on a full or modified retrospective basis, with