Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 246

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 246
---
  
  Converted                                                                                                                          ( 282,500      ( 847,500  
  At December 31, 2024                                         1,240,000      1,240,000      150,000      1,500,000      80,000      2,187,500      8,012,500  
  Common shares convertible after 1:4 reverse share split      31,000         N/A            18,750       N/A            26,000      1,869,500            N/A  

The Company classified all Preferred
Shares as permanent equity in the consolidated balance sheets because they are not redeemable and convertible to common stock of the Company.
The Preferred Shares are recorded initially at fair value, net of issuance costs. The Preferred Shares A, C, D and E can be converted
into1,869,500shares of common stock of the Company after reverse stock split effective on January 8, 2025. As the Company was in a loss
in 2022, the diluted weighted average shares of the Company and EPS of 2022 did not include the potential conversion effect of these preferred
shares.

Common Stock

The Company is authorized to issue150,000,000shares of common stock with a par value of $0.0001per share.

F-37

On April 19 and 21, 2022, the Company
issued13,000shares at $105.6and $97.2per share (adjusted to reflect1:10reverse stock split and1:4reverse stock split) respectively
to employees for their services to the Company.

On May 6, 2022, the Company issued5,000shares at $91.2per share (adjusted to reflect1:10reverse stock split and1:4reverse stock split) to an employee for his compensation.

On May 6, 2022, the Company issued7,500shares at $91.2per share (adjusted to reflect1:10reverse stock split and1:4reverse stock split) to three board members in leu of
their compensation.

On May 16, 2022, the Company issued85,000shares at $70.4per share (adjusted to reflect1:10reverse stock split and1:4reverse stock split) to employees for their compensation.

On May 26, 2022, the Company issued25,000shares at $58.8per share (adjusted to