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

Company: Ezagoo Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 11
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 additional cash to meet the Company’s
obligations as they become due.

These
and other factors raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements
do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts
and classification of liabilities that may result in the Company not being able to continue as a going concern.

NOTE
3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The
accompanying unaudited condensed consolidated financial statements reflect the application of certain significant accounting policies
as described in this note and elsewhere in the accompanying consolidated financial statements and notes.

●
Basis of consolidated presentation

These
condensed consolidated financial statements, accompanying notes, and related disclosures have been prepared pursuant to the rules and
regulations of the U.S. Securities and Exchange Commission (“SEC”). These accompanying condensed consolidated financial statements
have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).
The Company’s fiscal year end is December 31. The Company’s financial statements are presented in U.S. dollars.

The
condensed consolidated financial statements include the accounts of EZAGOO LIMITED and its subsidiaries. All significant inter-company
balances and transactions within the Company have been eliminated upon consolidation.

A
subsidiary is an entity in which (i) the Company directly or indirectly controls more than 50% of the voting power; or (ii) the Company
has the power to appoint or remove the majority of the members of the board of directors or to cast a majority of votes at the meetings
of the board of directors or to govern the financial and operating policies of the investee pursuant to a statute or under an agreement
among the shareholders or equity holders.

●
Use of estimates

The
preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities, disclosures of contingent assets and liabilities on the date of the financial statements,
and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an
ongoing basis, management reviews these estimates and assumptions using the currently available information. Changes in facts and circumstances
may cause the Company to revise its estimates. The Company bases its estimates on past experiences and on various other assumptions that
are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and