Company: YDDL
Filing Date: 2025-01-21
Form Type: F-1
Source: 0001213900-25-004967
Chunk: 176

Company: One & one Green Technologies. INC
Filing Date: 2025-01-21
Form: F-1
Chunk 176
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 -IBIGFund are mandatory and shared between employees and employers. The current contribution rate for employees is 2% of their monthly compensation, which is matched by the employer. The Pag -IBIGFund provides its members with access to housing and short -termloans, savings programs, and dividend earnings. The total expenses incurred for the plan were $38,023 and $31,785 for the years ended December 31, 2023 and 2022, respectively.

F-20 ONE AND ONE GREEN TECHNOLOGIES. INC
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 12.Shareholders’ Equity Ordinary shares The Company was authorized to issued 500,000,000shares of Ordinary Shares with par value of $0.0001 each. On April 17, 2024, the Company issued 20,000,000shares to shareholders at par value of $0.0001 per share. Restricted net assets The Company’s ability to pay dividends is contingent on receiving distributions from the VIEs. According to Philippine statutory laws and regulations, dividends can only be declared from the Company’s unrestricted retained earnings, if any, as determined by Philippine accounting standards. Consequently, the financial results presented in the Company’s consolidated financial statements prepared under U.S. GAAP might differ from the financial results presented in the VIEs’ statutory financial statements. Accumulated income represent the Company’s accumulated profits not distributed as dividends and not designated for specific purposes. While there is no statutory reserve requirement to allocate specific reserve funds, the Company cannot declare dividends if such action would render it insolvent or impair its capital. The board of directors has discretion to allocate profits to various reserves, such as contingency funds, expansion funds, or employee benefit funds. The aforementioned restrictions do not necessarily prohibit the VIEs from transferring its net assets to the Company, and the agreements with the VIEs do not include clauses that restrict such distributions. 13.Concentration of Risk Currency Convertibility Risk The Company’s VIEs in the Philippines primarily conducts business in Philippine Peso (PHP). While PHP is generally considered a convertible currency, there is a level of risk associated with its convertibility into other currencies. This risk arises from potential limitations on exchanging PHP, particularly for less common currencies or during periods of economic or political instability. Any future limitations could impact the Company’s ability to repatriate funds or settle obligations denominated in foreign currencies which could affect the Company’s operation. The Company continues to monitor the convertibility of PHP and assess