Company: MKDWW
Filing Date: 2025-01-23
Form Type: F-1
Source: 0001493152-25-003296
Chunk: 168

Company: MKDWELL Tech Inc.
Filing Date: 2025-01-23
Form: F-1
Chunk 168
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| Issuance of Founder Shares to Sponsor for subscription receivable                   |     |                               |            |   |     |      |            |   |
| Reclassification of long-term                                                       
 and short-term borrowings                                                           |     |                               |    144,336 |   |     |      |    346,500 |   |
| Real estate properties                                                              
 reclassified from (to) property, plant and equipment                                |     |                               |     43,906 |   |     |      |   (968,828 | ) |
| Real estate properties                                                              
 reclassified from (to) intangible assets                                            |     |                               |      4,320 |   |     |      |   (125,552 | ) |

<div align='center'>The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.</div>

| F-4 |

<div align='center'>MKDWELL TECH INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(In U.S. dollars, except share and per share data)</div>

1. ORGANIZATION AND PRINCIPAL ACTIVITIES

MKDWELL Tech Inc. (“Pubco”) was incorporated under the laws of the British Virgin Islands (“BVI”) on July 25, 2023. MKDWELL Limited (“MKD BVI”) was incorporated in the BVI on March 30, 2023 as a nonoperating shell company. MKD Technology Inc. (“MKD Taiwan”) was incorporated in Taiwan on September 26, 2006. Pubco, through its subsidiary MKD Taiwan and MKD Taiwan’s subsidiaries (collectively, the “Company”), primarily engages in designing and manufacturing industrial embedded system and automotive electronics in Taiwan and mainland China.

Reverse Merger

Pubco and its wholly owned subsidiaries, MKDMerger1 Inc., a BVI company incorporated on August 1, 2023, and MKDMerger2 Inc., a BVI company incorporated on August 1, 2023, were formed for the purpose of effecting a merger between Cetus Capital, MKD BVI, MKD Taiwan and certain other affiliated entities through a series of transactions (the “Business Combination”) pursuant to the Business Combination Agreement.

On July 31, 2024, MKD BVI consummated the Business Combination pursuant to the Business Combination Agreement. As a result, Cetus Capital became a wholly owned subsidiary