Company: MKDWW
Filing Date: 2025-02-21
Form Type: F-1/A
Source: 0001493152-25-007784
Chunk: 217

Company: MKDWELL Tech Inc.
Filing Date: 2025-02-21
Form: F-1/A
Chunk 217
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,219 |
| Thereafter                                            |     |        |         |
| Total payments of leaseback and vehicle mortgage loan |     | $      | 510,358 |

| F-39 |

MKDWELL TECH INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(In U.S. dollars, except share and per share data)

14. ORDINARY SHARES

As of December 31, 2022, MKD Taiwan had issued an aggregate of 27,278,652ordinary shares, with par value of NT$ 10each share.

In connection with the recapitalization, the Company has issued 17,011,476ordinary shares to MKD Taiwan’s former shareholders in exchange for their MKD Taiwan shares on one-to-one basis at a price of US$ 0.33per share and a total consideration of US$ 5.6million, which equals to the amount of capital injection to MKD BVI from these former shareholders.

In execution of the business combination agreement with Cetus Capital, the Company acquired 42% equity interests of MKD Jiaxing from Ming-Chao Huang at US$ 1,627,729in July 2023. Subsequently, Ming-Chao Huang injected the same amount of US$ 1,627,729to MKD BVI in August 2023 and acquired 4,932,512ordinary shares of the Company.

In August 2023, the Company issued totaled 2,500,001ordinary shares to certain new investors at a price ranging from US$ 0.33to US$ 0.35per share, for a total consideration of US$ 882,000.

As of December 31, 2023, the authorized number of ordinary shares was 50,000,000shares without par value, and the Company’s total issued and outstanding ordinary shares were 24,443,989.

15. NON-CONTROLLING INTERESTS

In December 2022, MKD Samoa entered into an equity transfer agreement with Ming-Chao Huang, a director and a shareholder of the Company, to transfer 42% equity interests of MKD Jiaxing to Ming-Chao Huang at US$ 1,627,729, which all amount converted from the loan from related party balance (Note 18). The capital contribution from Ming-Chao Huang was accounted for as non-controlling interests as of December 31, 2022. The 42% equity interests in MKD Jiaxing