Company: MASK
Filing Date: 2025-12-30
Form Type: F-1
Source: 0001185185-25-002198
Chunk: 2

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-12-30
Form: F-1
Chunk 2
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 gross proceeds and issue the remaining $500,000 of principal of the Note upon effectiveness of the registration statement of which this prospectus forms a part, subject to certain additional terms and conditions. The Selling Shareholder will bear all commissions and discounts, if any, attributable to the sale of the Class A Ordinary Shares. The Selling Shareholder may sell the Class A Ordinary Shares offered by this prospectus from time to time on terms to be determined at the time of sale through ordinary brokerage transactions or through any other means described in this prospectus under the caption “Plan of Distribution.” The Class A Ordinary Shares may be sold at fixed prices, at market prices prevailing at the time of sale, at prices related to prevailing market price or at negotiated prices, provided, that the Class A Ordinary Shares shall not be converted below a floor price equal to US$0.0524 (the “Floor Price”), which represents 20% of the Minimum Price (as defined by Nasdaq Rules) as of December 17, 2025, the applicable date pursuant to the Securities Purchase Agreement. In the event the applicable conversion price or exercise price, as applicable, would otherwise be below such Floor Price, the Company will issue shares at the Floor Price and pay the Selling Shareholder the resulting economic difference in cash. Our Class A Ordinary Shares are listed on the Nasdaq Capital Market (“Nasdaq”) under the symbol “MASK.” There is no established trading market for the Convertible Note and we do not intend to list the Convertible Note on any exchange or other trading system. We are a BVI business company incorporated in the British Virgin Islands (“BVI”). As a holding company, historically, our operations were conducted by our indirect wholly-owned subsidiaries based in the People’s Republic of China (“PRC” or “China”), Guangzhou 3e Network Technology Company Limited (the “Guangzhou Sanyi Network”) and Guangzhou 3E Network Technology Company Limited (the “Guangzhou 3E Network”), which we maintained 100% ownership via our wholly-owned subsidiary based in Hong Kong, 3e Network Technology Company Limited (the “HK 3e Network”). On March 21, 2025, HK 3e Network sold 60% equity interest in Guangzhou Sanyi Network and our entire 100% equity interest in Guangzhou 3E Network. On December 25, 2025, HK 3e Network sold the remaining 40% equity interest in Guangzhou Sanyi Network. As