Company: STAK
Filing Date: 2025-11-14
Form Type: F-1
Source: 0001493152-25-023494
Chunk: 35

Company: STAK Inc.
Filing Date: 2025-11-14
Form: F-1
Chunk 35
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 and other factors deemed relevant by our board of directors.

| 25 |

<div align='center'>CAPITALIZATION</div>

The following tables set forth our capitalization as of June 30, 2025:

| ● | on                                                                                                                             
 an actual basis; and                                                                                                           |
| ● | on                                                                                                                             
 a pro forma basis to reflect (i) the issuance and sale of 3,000,000 Units offered hereby, based on an assumed public           
 offering price of $1.0 per Unit, assuming that all Units are sold and none of the Warrants included in the Units is exercised, 
 (ii) the application of the net proceeds after deducting estimated offering expenses payable by us.                            |

You should read
the tables together with our consolidated financial statements and the related notes included elsewhere in this prospectus and the information
under “Item 5. Operating and Financial Review and Prospects” of our most recent Annual Report on Form 20-F, which is incorporated by reference in this prospectus.

|                                                                                                                                   |     | As of June 30, 
           2025 |   |     |            |   |
|:----------------------------------------------------------------------------------------------------------------------------------|:----|---------------:|:--|:----|-----------:|:--|
|                                                                                                                                   |     |         Actual |   |     |        Pro 
      Forma |   |
|                                                                                                                                   |     |        -in US$ |   |     |            |   |
| Cash:                                                                                                                             |     |      1,022,625 |   |     |  3,902,893 |   |
| Debt:                                                                                                                             |     |                |   |     |            |   |
| Short-term borrowings                                                                                                             |     |      5,636,831 |   |     |  5,636,831 |   |
| Long-term borrowing                                                                                                               |     |        418,784 |   |     |    418,784 |   |
| Equity:                                                                                                                           |     |                |   |     |            |   |
| Class                                                                                                                             
 A  Ordinary Shares, 4,010,349 Class A                                                                                             
 Ordinary Shares outstanding on an actual basis and 7,010,349 Class A Ordinary Shares outstanding on a pro forma basis             |     |          4,010 |   |     |      7,010 |   |
| Class B ordinary shares,                                                                                                          
 9,200,000 Class B Ordinary Shares outstanding