Company: EZOO
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022083
Chunk: 15

Company: Ezagoo Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 15
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 the arrangement to be variable (Examples include discounts, rebates, refunds, credits,
    incentives, tiered pricing, price guarantees, right of return, etc.). 

    c. 
    There are no factors that
    exist whereby it is not probable that a significant reversal or revenues will not occur in the contract.

    4.
    Allocate the transaction
    price to the performance obligations in the contract; and

    a. 
    There were no multiple
    performance obligations to which the transaction price must be allocated, and each contract only has one performance obligation.
    The standalone selling price is explicated stated in the contract.

    5.
    Recognize revenue when
    (or as) the entity satisfies a performance obligation.

    a.
    Per ASC 606, an entity
    shall recognize revenue when (or as) the entity satisfies a performance obligation by transferring a promised good or service (that
    is, an asset) to a customer. An asset is transferred when (or as) the customer obtains control of that asset.

    b.
    Revenue is recognized when
    the advertising service is performed. According to the sample advertising and e-commerce contract, upon obtaining the signed contract
    and order from the Customer, the service and goods’ period would be started. Therefore, the revenue is recognized when the
    service and goods are completely provided and delivered at that point in time.

    F-8

EZAGOO
LIMITED

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(Currency
expressed in United States Dollars (“US$”), except for number of shares)

Under
Topic 606, revenues are recognized when the promised services and goods have been confirmed and transferred to the consumers in amounts
that reflect the consideration the customer expects to be entitled to in exchange for those services. The Company presents value added
taxes (“VAT”) as reductions of revenues. The Company recognizes revenues net of value added taxes (“VAT”) and
relevant charges.

During
the period ended September 30, 2025, the Company’s revenues were mainly generated from providing e-commerce trading of goods and
products on ZCZX WeChat Application that is subscribed from Weimob (微盟集团, HK02013) (“trading income”
since September 2022), providing e-commerce value-added service in LSM WeChat Application which is also subscribed from Weimob (微盟集团