Company: FSTWF
Filing Date: 2025-07-08
Form Type: F-1/A
Source: 0001213900-25-061884
Chunk: 186

Company: FST Corp.
Filing Date: 2025-07-08
Form: F-1/A
Chunk 186
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589 |
| US     |     |              |  9,170,946 |     |   | 10,634,130 |
| Japan  |     |              |  2,375,236 |     |   |  1,164,640 |
| Total  |     | $            | 30,081,345 |     | $ | 30,465,359 |

(z) Commitments and contingencies

Liabilities for loss contingencies arising from claims, assessments, litigation, fines, and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. If a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, is disclosed. Legal costs incurred in connection with loss contingencies are expensed as incurred.

(aa) Restatement of previously issued 2023 consolidated financial statements

The Group identified errors related to deferred tax assets for net operating loss carry -forwardsand reclassification of deferred tax assets, prepaid expenses related to transaction fees incurred in connection with the Business Combination and reclassification of certain balance sheet items for the year ended December 31, 2023. As a result, the accompanying 2023 consolidated financial statements as of and for the year ended December 31, 2023, and related notes hereto, have been restated or revised, as applicable, to correct these errors.

The below tables summarise the adjustments that were made to correct the errors for the periods presented.

Extract from the consolidated statements of operations and comprehensive loss

|                                       |     | As Previously 
 Reported      |            |   |     | Adjustment |          |   |     | As Restated |            |   |
|:--------------------------------------|:----|:--------------|-----------:|:--|:----|:-----------|---------:|:--|:----|:------------|-----------:|:--|
| General and administrative expenses   |     | $             |  5,279,397 |   |     | $          |  559,572 |   |     | $           |  5,838,969 |   |
| Loss before income tax                |     |               | (2,359,110 | ) |     |            | (559,572 | ) |     |             | (2,918,682