Company: OWLS
Filing Date: 2025-02-07
Form Type: DRS/A
Source: 0000950123-25-001222
Chunk: 366

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-02-07
Form: DRS/A
Chunk 366
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 and 1,600,000 of shares were issued. All issued shares were paid-upupon issuance.

| (b) | Retained earnings and legal reserve |

Pursuant to the Company’s Articles of Incorporation, the Company’s current year earnings, if any, shall be used to first pay all taxes, offset prior years’ deficits, and then appropriate 10% as legal reserves, unless the legal reserve reaches the amount of the Company’s paid-incapital. The distribution of residual earnings together with any undistributed retained earnings at the beginning shall be proposed by the Board of Directors and resolved at the shareholders’ meeting.

| NOTE 11. | Income taxes |

Reconciliation of the expected income tax expense computed based on the statutory income tax rate of 20% compared with the actual income tax expense as reported in the statement of profit or loss is as follows:

|                                                      |     | 2022 |           |
|:-----------------------------------------------------|:----|:-----|----------:|
| Profit before income tax                             |     | $    | 4,319,067 |
| Income tax calculated based on net profit before tax |     |      |   863,813 |
| Others                                               |     |      |    98,208 |
| Income tax expense                                   |     | $    |   962,021 |

As of December 31, 2022, there was no temporary differences and no deferred tax asset or liability recognized.

| NOTE 12. | Revenue |

Disaggregation of revenue from contracts with customers is as follows:

|                                                                          |     | 2022 |              |
|:-------------------------------------------------------------------------|:----|:-----|-------------:|
| Revenues from payment gateway service                                    |     | $    |  107,311,189 |
| Revenue from logistic service                                            |     |      |   49,406,207 |
| Revenues from electronic invoicing system and other value-added services |     |      |    6,617,743 |
|                                                                          |     |      | $163,335,139 |

F-96

PayNow Inc. Notes to the Financial Statements (Continued) The Company has recognized the following contract liabilities in relation to revenue from contracts with customers:

|                                |     | December 31, 
 2022         |           |
|:-------------------------------|:----|:-------------|----------:|
| Contract liabilities - current |     | $            | 8,712,006 |

As of January