Company: MKDWW
Filing Date: 2025-02-21
Form Type: F-1/A
Source: 0001493152-25-007784
Chunk: 215

Company: MKDWELL Tech Inc.
Filing Date: 2025-02-21
Form: F-1/A
Chunk 215
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 CONSOLIDATED FINANCIAL STATEMENTS

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

12. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

ACCRUED EXPENSES AND OTHER LIABILITIES

Accrued expenses and other current liabilities consisted of the following:

SCHEDULE OF ACCRUED EXPENSES AND OTHER LIABILITIES

|                                              |     | As of December 31, 
 2022               |      2022 |     | 2023 |      2023 |
|:---------------------------------------------|:----|:-------------------|----------:|:----|:-----|----------:|
| Equipment purchase payable                   |     | $                  | 1,027,996 |     | $    |   987,811 |
| Long-term payments of leaseback, current (1) |     |                    |   366,753 |     |      |   307,694 |
| Advance from customer                        |     |                    |   189,192 |     |      |   304,488 |
| Payroll and welfare payable                  |     |                    |   175,626 |     |      |   173,925 |
| Interest payable                             |     |                    |   165,821 |     |      |   161,043 |
| Long-term payable, current portion (2)       |     |                    |    15,746 |     |      |     7,445 |
| VAT payable                                  |     |                    |     1,727 |     |      |    27,545 |
| Others                                       |     |                    |    79,070 |     |      |    69,378 |
| Total                                        |     | $                  | 2,021,931 |     | $    | 2,039,329 |

| (1) | During                                                                                                                                  
 the years ended December 31, 2022 and 2023, the Company continuously entered into certain sale-and-leaseback arrangements for the       
 purpose of obtaining financing. As a result of the available repurchase option, for accounting purposes these sale-and-leaseback        
 arrangements are accounted for as a financing rather than a sale. Loans payables resulted from such financing were pledged by the       
 Company’s machinery and equipment, amounted to US$478,088 and US$485,070 as of December 31, 2022 and 2023, respectively. The            
 loans payables are