Company: STAK
Filing Date: 2025-11-05
Form Type: 20-F
Source: 0001493152-25-020818
Chunk: 6

Company: STAK Inc.
Filing Date: 2025-11-05
Form: 20-F
Item: Item 3
Chunk 6
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 that the PCAOB vacate the 2021 Determinations. As required by the HFCA Act, if in the future the PCAOB determines it no longer can inspect or investigate completely because of a position taken by an authority in the PRC, the PCAOB will act expeditiously to consider whether the PCAOB should issue a new determination.

3.A.      [Reserved]   
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3.B.   Capitalization  
       and Indebtedness
 
Not applicable.
 

3.C.                Reasons             
       for the Offer and Use of Proceeds
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Not applicable.
 

6
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3.D.     Risk 
       Factors
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Our annual report should be considered in light of the risks, uncertainties, expenses, and difficulties frequently encountered by similar companies. Below please find a summary of the principal risks we face, organized under relevant headings. These risks are discussed more carefully in this Item 3.D. “Item 3. Key Information — D. Risk Factors.”
 
Risks Related to Our Business and Industry
 

●                                             Our                                           
    operating history may not be indicative of our future growth or financial results and we
                    may not be able to sustain our historical growth rates.                 
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●                             We                          
    cannot assure you that we will maintain profitability.
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●                                                  We                                               
     operate in a volatile industry where the demand for oil equipment can fluctuate significantly, 
      often in correlation with oil and natural gas prices, which makes it difficult for investors  
    to evaluate our future prospects, and we cannot assure you that our current or future strategies
                 will be successfully implemented or will generate sustainable profit.              
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●                                                  We                                               
    have a limited operating history and experience in specialized oilfield equipment and integrated
      solutions, which makes it difficult to evaluate our business. We cannot assure you that the   
       market for our products will develop as we expect or that we will be able to maintain the    
                             growth rate that we have experienced to date.                          
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●                                            Failure                                         
    to maintain and enlarge our customer base or strengthen customer engagement may adversely
                          affect our business and results of operations.                     
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●                                             Failure                                           
    to maintain the quality of our products and service could have a material and adverse effect
                 on our reputation, financial condition and results of operations.              
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●                                                 We                                             
    depend on our cooperation with our business partners. Our business may be negatively affected
       if such partners do