Company: MASK
Filing Date: 2025-12-02
Form Type: POS AM
Source: 0001185185-25-001899
Chunk: 268

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-12-02
Form: POS AM
Chunk 268
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 registration statement
to be filed therefor effective; (ii) the Second Tranche, also up to $2.2 million in principal amount of Note, to occur on the earlier
of the date on which the First Tranche Note has less than $500,000 in principal remaining or after 120 days following effectiveness of
the initial resale registration statement, subject to the Company having a minimum market capitalization of $30 million; and (iii) the
Third Tranche, up to $3.0 million in principal amount of Notes, which may be issued by mutual consent up to 180 days after the Second
Tranche closing. The conversion price of the Notes equals to the lower of (i) a fixed price equal to 120% of the average of the three
daily VWAPs of the Shares immediately prior to the applicable closing date, which will be subject to adjustment for dilutive offerings
(excluding director and officer compensation) that occur within the next 18 months and (ii) a floating price based on 93% of the lowest
daily VWAP in the 10 trading days immediately preceding the conversion if there is no event of default. The transaction is subject to
customary closing conditions for each tranche, and each closing is expected to take place once those conditions are satisfied or waived
in the near future.

<div align='center'>F-20

3 E NETWORK TECHNOLOGY GROUP LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

10. Convertible Note(cont.)

The Company also issued 1,248,611 Shares (“Pre-Delivery Shares”) and pre-funded warrants to purchase an additional 213,389 Pre-Delivery Shares.

On the initial first closing date, the investor shall pay the company the available funds equivalent to the initial first closing subscription amount of US$1,380,000 via wire transfer, and the company shall deliver to the investor the first tranche of notes in the amount of US$1,500,000, along with warrants and Pre-Delivery Shares, remotely through electronic transmission of the relevant transaction documents on June 10, 2025.As to the initial First Tranche Closing, a Warrant registered in the name of the Investor number of shares of ordinary shares equal to 40% of the Investor’s maximum Principal Amount under the First Tranche Note divided by the daily VWAP of the ordinary shares on the date prior to such Closing, with an initial exercise price equal to the Fixed Conversion Price of the Note issued at such