Company: EZOO
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022083
Chunk: 31

Company: Ezagoo Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 31
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We
believe that the contractual arrangements among CETL, BEZL, BELCB and the shareholders of BEZL are in compliance with PRC law and are
legally enforceable. However, uncertainties in the PRC legal system could limit our ability to enforce these contractual arrangements
and if the shareholders of our consolidated VIE were to reduce their interest in us, their interests may diverge from ours and that may
potentially increase the risk that they would seek to act contrary to the contractual terms.

Our
ability to control the consolidated VIE also depends on the voting rights proxy agreement and our company, through CETL, has to vote
on all matters requiring shareholder approval in the consolidated VIE. As noted above, we believe this voting rights proxy agreement
is legally enforceable but may not be as effective as direct equity ownership.

The
Company’s mailing address is Rm 205, 2/F, Building 17, Yard 1, Li Ze Road, Feng Tai District, Beijing 100073, China.

4

Item
3 Quantitative and Qualitative Disclosures About Market Risk.

As
a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide information
required by this Item.

Item
4 Controls and Procedures.

Evaluation
of Disclosure Controls and Procedures:

We
carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange
Act Rules 13a-15(e) and 15d-15(e)) as of September 30, 2025. This evaluation was carried out under the supervision and with the participation
of our Chief Executive Officer and our Chief Financial Officer. Based upon that evaluation, our Chief Executive Officer and Chief Financial
Officer concluded that, as of September 30, 2025, our disclosure controls and procedures were not effective due to the presence of material
weaknesses in internal control over financial reporting.

A
material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is
a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented
or detected on a timely basis. Management has identified the following material weaknesses which have caused management to conclude that,
as of September 30, 2025, our disclosure controls and procedures were not effective: (i) inadequate segregation of duties and effective
risk assessment; and (ii