Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 352

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 352
---
 issuance, the Company continues in evaluating the impact on its financial position and financial performance as a result of the initial adoption of the aforementioned standards or interpretations. The related impact will be disclosed when the Company completes the evaluation.

| NOTE 4. | Significant accounting policies |

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been applied consistently to all periods presented in these financial statements unless otherwise stated.

| (a) | Functional and Presentation Currency |

The presentation currency of the Company is the New Taiwan dollar. The functional currency is the currency of the primary economic environment in which the entity operates.

| (b) | Classification of Current and Noncurrent Assets and Liabilities |

Current assets are assets held for trading purposes and expected to be converted to cash, sold or consumed within one year from the end of the reporting period. Current liabilities are obligations incurred for trading purposes and expected to be settled within one year from the end of the reporting period. Assets and liabilities that are not classified as current are referred to as noncurrent assets and liabilities, respectively.

| (c) | Cash and restricted cash |

Cash comprises both currency and demand deposits, which the Company can access without any restrictions. Restricted cash is contractually restricted through legal contracts or regulations. The contractual restrictions on the use of the amounts held in the demand deposit do not change the nature of the deposit. The Company can access those amounts on demand and therefore includes the demand deposit as a component of cash.

| (d) | Financial Instruments |

| 1. | Financial Assets |

The Company shall recognize a financial asset or a financial liability in its statement of financial position when, and only when, the Company becomes party to the contractual provisions of the instrument. A regular way purchase or sale of financial assets shall be recognized and derecognized, as applicable, using trade date accounting. F-86

PayNow Inc. Notes to the Financial Statements (Continued)

| (1) | Classification of financial assets |

The classification of financial assets depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. The classification of financial assets is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. When, and only when, the Company changes its business model for managing financial assets it shall reclassify all affected financial assets. Financial assets at amortized cost Cash and restricted cash, accounts receivable, other receivables, and other financial assets are measured at amortized cost.