Company: OWLS
Filing Date: 2025-02-07
Form Type: DRS/A
Source: 0000950123-25-001222
Chunk: 153

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-02-07
Form: DRS/A
Chunk 153
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 liabilities of US$(238,003), which were primarily related to a decrease in accounts receivable of US$32,640 from the settlement of sales, an increase in prepayment of US$1,646,466 due to the prepayment of IPO-related fees, an increase in contract liabilities of US$582,584 due to higher advance payments in OwlNestand PayNow’s collection on behalf of merchants, a decrease in accounts payable of US$328,468 due to the impact of the Taiwan earthquake on the tourism market, which reduced booking volumes and subsequently supplier payables, an increase in other payables of US$1,068,946 due to accrued fees for auditors and legal counsels, and a decrease in other payables from related parties of US$18,068 due to repayments. Net cash flows used in operating activities was US$5.3 million for the nine months ended September 30, 2023. The difference between our loss for the nine months ended September 30, 2023 of US$5.7 million and cash used in operations was primarily due to (i) adjustment for certain non-cash items, which included depreciation expense of US$641,590, amortization expense of US$60,834, loss on financial liabilities at FVTPL of US$83,028, finance costs of US$104,849, interest income of US$(52,419), and loss on extension of preference share liabilities of US$26,209; and (ii) the net changes in operating assets and liabilities of US$(343,978), which were primarily related to a decrease in accounts receivable of US$289,730 from the settlement of sales, an increase in prepayment of US$73,663 due to the advance payment of financial service fees to PayNow’s partnered banks, a decrease in contract liabilities of US$405,434 due to the period for merchants to apply for disbursements has been shortened, an increase in accounts payable of US$335,996 due to subsidence of COVID- 107

19 pandemic, which led to the recovery of the hospitality business and higher transaction volumes, resulting in a rise in accounts payables to property providers, a decrease in other payables of
US$307,316 due to the accrued fees for auditors and legal counsels, a decrease in other current liabilities of US$57,489 due to the payments of employee withholding taxes and collected insurance premiums, an increase in other payables from related