Company: MKDWW
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001641172-25-002607
Chunk: 99

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-03
Form: 20-F
Item: Item 7
Chunk 99
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 to MKD BVI, with the maturity date
being December 31, 2026.

During the year ended
December 31, 2024, MKD Taiwan entered into certain loan arrangements with Ming-Chia Huang providing loans in the total amount of $616,041
with annual interest rate at 3.5% to MKD Taiwan. In June 2024, MKD BVI entered into two loan arrangements with Ming-Chia Huang providing
loans in the total amount of $235,000 with annual interest rate at 6.0% to MKD BVI. In October 2024, MKD Jiaxing entered into a loan
arrangement with Ming-Chia Huang providing a loan in the amount of US$41,100 with an annual interest rate at 10% to MKD Jiaxing. During
the year ended December 31, 2024, MKD Jiaxing entered into an interest-free loan arrangement with Ming-Chao Huang providing a loan in
the amount of US$16,426 to MKD Jiaxing. On March 7, 2025, Ming-Chia Huang transferred US$550,000 out of his US$900,000 debt claim against
the Company to his spouse, Ms. Ya-Hui Wu. Subsequently, On March 19, 2025, loans amounting to $900,000 from Ming-Chia Huang were converted
into equity with the Company entering into debt conversion agreements with Ming-Chia Huang and Ms. Ya-Hui Wu to convert the loans totalling
amounting to $900,000 into equity. According to debt conversion agreements, the amount of $350,000 will be converted into 3,500,000 new
ordinary shares of the Company for Ming-Chia Huang, and the amount of $550,000 will be converted into 5,500,000 new ordinary shares of
the Company for Ms. Ya-Hui Wu.

On February 1,
2024, MKD BVI lent US$300,000 to Cetus Sponsor LLC with an annual interest of 6.5%. The loan is used to pay the application fee for
the extension of business combination between the Company and Cetus Capital and shall be repaid on the earlier of i) the date on
which the Cetus Capital consummates an initial business combination with a target business, and ii) May 2, 2024. As of December 31,
2024, the amount