Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 354

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 354
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 receivable is recognized in profit or loss.

| 2. | Financial liabilities and equity instruments |

| (1) | Classification of financial liabilities and equity instruments |

Debt and equity instruments issued by the Company are classified as financial liabilities or equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.

| i. | Equity instrument |

An equity instrument is any contract that evidences residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued are recognized as the amount of consideration received, less the direct cost of issuing.

| ii. | Financial liabilities |

Financial liabilities are classified as measured at amortized cost.

| (2) | Derecognition of financial liability |

The Company removes a financial liability from its statement of financial position when, and only when, it is extinguished—when the obligation specified in the contract is discharged, canceled, or expired. On derecognition of a financial liability at amortized cost in its entirety, the difference between the carrying amount of a financial liability extinguished or transferred to another party and the consideration paid, including any non-cashassets transferred or liabilities assumed, shall be recognized in profit or loss.

| (3) | Offsetting of financial assets and liabilities |

Financial assets and financial liabilities are offset and the net amount is presented in the statement of balance sheet when, and only when, the Company currently has a legally enforceable right to offset the amounts and intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously.

| (e) | Property, plant, and equipment |

| 1. | Recognition and measurement |

Items of property, plant and equipment are measured at cost, less accumulated depreciation and any accumulated impairment losses. Any gain or loss on disposal of an item of property, plant and equipment is recognized in profit or loss.

| 2. | Subsequent expenditure |

Subsequent expenditure is capitalized only if it is probable that the future economic benefits associated with the expenditure will flow to the Company. F-88

PayNow Inc. Notes to the Financial Statements (Continued)

| 3. | Depreciation |

Depreciation is calculated on the cost of an asset less its residual value and is recognized in profit or loss on a straight-line basis over the estimated useful lives of each component of an item of property, plant and equipment. The estimated useful lives of property, plant and equipment for current and comparative periods are as follows:

| (1)