Company: MKDWW
Filing Date: 2025-03-13
Form Type: 424B4
Source: 0001493152-25-010187
Chunk: 131

Company: MKDWELL Tech Inc.
Filing Date: 2025-03-13
Form: 424B4
Chunk 131
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 |           | 1,880,920 |     |           | 809,245 |

Other than those shown above, we did not have any significant capital and other commitments, long-term obligations and guarantees as of December 31, 2023.

Cetus Capital’s Results of Operations

Cetus Capital’s entire activity since inception up to June 30, 2024 was in connection with its IPO and its search for a target for its initial business combination. Cetus Capital will not generate any operating revenues until the closing and completion of its initial business combination, at the earliest.

For the six months ended June 30, 2024, Cetus Capital had net loss of $345,196, which consisted of formation and operating costs of $600,578, loss of extinguishment of debt of amounting to $405,500, franchise tax expense of $32,625 and income tax expense of $175,677 partially offset by interest income on the Trust Account in the amount of $869,184. For the six months ended June 30, 2023, Cetus Capital had net income of $413,341, which consisted of interest income on the Trust Account in the amount of $1,106,041, partially offset by formation and operating costs of $379,403, franchise tax expense of $102,567 and income tax expense of $210,730.

For the fiscal year ended December 31, 2023, Cetus Capital had net income of $52,056, which consisted of interest income on the Trust Account in the amount of $1,394,622, partially offset by formation and operating costs of $907,593, franchise tax expense of $179,876, and income tax expense of $255,097. For the period from June 7, 2022 (inception) through December 31, 2022, Cetus Capital had net loss of $5,652, which consisted of formation and operating costs of $5,652.

Cetus Capital’s Liquidity and Capital Resources

As of June 30, 2024, Cetus Capital had $181,795 in cash and working capital deficit of $2,300,048. Cetus Capital’s liquidity needs prior to the consummation of its IPO had been satisfied through a payment from Cetus Capital’s sponsor Cetus Sponsor LLC (“Sponsor”) of $25,000 for the Founder Shares and through up to $300,000 in loans available from our sponsor under an unsecured