Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 331

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 331
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 issued by the International Accounting Standards Board (“IASB”), and should be read in conjunction with the Company’s last annual consolidated financial statements as of and for the year ended December 31, 2023 (“last annual consolidated financial statements”). They do not include all of the information required for a complete set of financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”). However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Company’s financial position and performance since the last annual consolidated financial statements. These condensed consolidated financial statements were authorized for issue by the Board of Directors on December 4, 2024.

| (b) | Going concern |

The unaudited condensed consolidated financial statements have been prepared on a going concern basis. As of September 30, 2024, the accumulated deficit was $56,575,376, and the total current liabilities of the Company exceeded its total current assets by $2,885,356. The Company has historically financed its operations primarily through capital increase and issuing preferred shares. Management plans to adopt the following measures to improve its operations and cash flows: 1. Expand payment business to increase the cash inflow and create new revenue stream. 2. Obtain investments from investors or strategic partners through private offering, with a total amount approximately $1 million by the issuance date of these financial statements. 3. Obtain major shareholder’s commitment to defer required repayment through December 31, 2025 of the amount lent to the Company of at least $1.4 million, and to provide the necessary financial support to meet further short-term capital needs. The Company expects to finance its operations through equity offerings and debt financings. However, there can be no assurance that any additional financing will be available to the Company on acceptable terms, if at all. If events or circumstances occur such that the Company does not obtain additional funds as needed, there would be a material adverse effect on the Company’s business and results of operations or financial condition. F-57

OBOOK HOLDINGS INC. AND SUBSIDIARIES Notes to the Unaudited Condensed Consolidated Financial Statements

| NOTE 3. | Application of New and Revised IFRS as Issued by the IASB |

| (a) | Amendments to IFRSs and the new interpretation that are mandatorily effective for the current year. |

| New New, Revised or Amended Standards and                                     
 Interpretations                                                               
 Amendments to IFRS