Company: EZOO
Filing Date: 2025-05-15
Form Type: 10-K
Source: 0001641172-25-010460
Chunk: 693

Company: Ezagoo Ltd
Filing Date: 2025-05-15
Form: 10-K
Item: Item 1B
Chunk 693
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 Proxy Agreement Amendment No.1 (exhibit 10.2A) with BEID and WCXYID, the Management
Services Agreement Amendment No.1 (exhibit 10.3A) with BEZL, the Equity Pledge Agreement Amendment No.1 (exhibit 10.4A) with BEID and
WCXYID, and the Loan Agreement Amendment No.1 (exhibit 10.5A) with BEID and WCXYID.

On
March 3, 2021, the Company incorporated a branch company of Beijing Ezagoo Zhicheng Internet Technology Limited, named Changsha branch
of Beijing Ezagoo Zhicheng Internet Technology Limited, the reason to continue the operating in Changsha is we had adapted to the business
environment and adjusted business strategy.

On
August 28, 2023, the existing officer resigned immediately. Accordingly, Mr. Xin Yang, serving as an officer, ceased to be the Company’s
Chief Financial Officer. On the effective date, Ms. Yibo Li consented to act as the new Chief Financial Officer of the Company.

EZAGOO
LIMITED and its subsidiaries are hereinafter referred to as the “Company”.

    F-7

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)

2.
GOING CONCERN UNCERTAINTIES

As
of December 31, 2024, the Company suffered an accumulated deficit of $5,324,244, total current liabilities $3,790,276 and negative operating cashflow of $ 620,934.00
and operated a net loss of $585,330.
The continuation of the Company as a going concern through December 31, 2024 is dependent upon improving the profitability and the fund support is provided by the company’s CEO, Tan Xiaohao, who is the
largest shareholder of the company. The Amount due to director is payable to Tan Xiaohao. The Amount due to related party J is also the
largest payable related party, which is also a holding company of Tan Xiaohao. Because we believe that Tan Xiaohao has the ability to
provide financial support. Management believes the existing shareholders or external financing will provide the additional
cash to meet the Company