Company: OWLS
Filing Date: 2025-02-07
Form Type: DRS/A
Source: 0000950123-25-001222
Chunk: 285

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-02-07
Form: DRS/A
Chunk 285
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 at the offices of Gold In (Cayman) Co., Ltd., located at Suite 102, Cannon Place, North Sound Rd., George Town, Grand Cayman, Cayman Islands. The principal executive office is located at 3F., No. 215, Sec. 3, Beixin Rd., Xindian Dist., New Taipei City 231030, Taiwan (R.O.C.). The company and its subsidiaries (collectively referred to as the “Company”) specialize in blockchain technology, providing innovative solutions to customers in various sectors, including financial services, e-commerce,and hospitality. The principal operating activities of the Company are described in Note 4(b).

| NOTE 2. | Basis of Preparation |

| (a) | Statement of compliance |

The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). These consolidated financial statements were authorized for issuance by the Board of Directors on August 20, 2024.

| (b) | Basis of measurement |

The consolidated financial statements have been prepared on the historical cost basis except for financial liabilities at fair value through profit or loss (“FVTPL”).

| (c) | Going concern |

The consolidated financial statements have been prepared on a going concern basis. As of December 31, 2023, the accumulated deficit was $50,590,502, and the total current liabilities of the Company exceeded its total current assets by $4,443,902. The Company has historically financed its operations primarily through capital increase and issuing preferred shares. Management plans to adopt the following measures to improve its operations and cash flows: 1. Expand payment business to increase the cash inflow and create new revenue stream. 2. Obtain investments from investors or strategic partners through private offering, with a total amount approximately $7 million by the issuance date of these financial statements. 3. Obtain major shareholder’s commitment to defer required repayment through June 30, 2025 of the amount lent to the Company of at least $1.4 million, and to provide the necessary financial support to meet further short-term capital needs. The Company expects to finance its operations through equity offerings and debt financings. However, there can be no assurance that any additional financing will be available to the Company on acceptable terms, if at all. If events or circumstances occur such that the Company does not obtain additional funds as needed, there would be a material adverse effect on the Company’s business and results of operations