Company: EZOO
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001493152-25-020156
Chunk: 47

Company: Ezagoo Ltd
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 47
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NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(Currency
expressed in United States Dollars (“US$”), except for number of shares)

NOTE
1 – ORGANIZATION AND BUSINESS BACKGROUND

Ezagoo
Limited, a Nevada corporation (“the Company”) was incorporated under the laws of the State of Nevada on May 9, 2018.

On
May 9, 2018 Tan Xiaohao was appointed as President, Secretary, Treasurer, and Director of the Company.

On
May 9, 2018, our President, Tan Xiaohao, purchased 90,050,500 shares of restricted common stock at a purchase price of $0.0001 (par value)
per share. The proceeds from the sale, which were in the amount of $9,005 have gone directly to the Company for initial working capital.

On
June 30, 2018 Zhang Qianwen and Greenpro Asia Strategic SPC- Greenpro Asia Strategic Fund SP purchased 3,591,000 and 1,358,500 shares
of restricted common stock respectively at a purchase price of $0.0001 (par value) per share. The proceeds from the sale, which were
in the amount of $495, have gone directly to the Company for initial working capital.

On
June 6, 2018 Ezagoo Holding Limited, a Seychelles Company, acquired Ezagoo Limited, A Hong Kong Company, in consideration of $0.13.

Ezagoo
Limited, a Nevada Company, acquired Ezagoo Holding Limited, a Seychelles Company, on June 25, 2018 in consideration of $1. Ezagoo Holding
Limited is now a wholly owned subsidiary of the Company.

On
July 20, 2018, Ezagoo Limited, a Hong Kong Company, incorporated a new subsidiary in Changsha, China, called Changsha Ezagoo Technology
Limited, whereas it is owned entirely (100%) by Ezagoo Limited, the Hong Kong Company. There was no consideration exchanged per the transaction.

The
three companies above are under common control Mr. Tan Xiaohao, the director of the Company, so they are related parties.

On
July 20, 2018, Changsha Ezagoo Technology Limited, the Hong Kong Company, also referred to herein as “CETL”, entered into
and consummated an agreement with Beijing Ezag