Company: EZOO
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022083
Chunk: 29

Company: Ezagoo Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 29
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, 2025, net cash used in operating activities was $340,377, compared to net cash used in operating
activities of $287,857 for the nine months ended September 30, 2024, reflecting an increase of $52,520. Such increasing was mainly reflected
in significant less other payables and customers advances during the periods ended September 30, 2025.

Cash
Flow from Financing Activities

For
the nine months ended September 30, 2025, net cash provided by financing activities was $372,416, as compared to net cash provided by
financing activities of $228,488 for the nine months ended September 30,2024, reflecting an increase of $143,928. Such increase was mainly
attributable to advances from related parties for operating use during the period ended September 30, 2025.

Credit
Facilities

We
do not have any credit facilities or other access to bank credit.

Contractual
Obligations, Commitments and Contingencies

We
currently have two lease agreement in place with respect to office premises in Beijing and Changsha China to commence our business operations.

Off-balance
Sheet Arrangements

As
of September 30, 2025, we have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or
future effect on our financial condition, changes in our financial condition, revenues or expenses, results of operations, liquidity,
capital expenditures or capital resources that are material to our stockholders.

3

Additional
Information

VIE
STRUCTURE AND ARRANGEMENTS

Foreign
ownership in companies providing media advertising services is subject to certain restrictions under PRC laws and regulations. To comply
with the PRC laws and regulations, we, through our wholly-owned subsidiary, Changsha Ezagoo Technology Limited (CETL), entered into a
set of contractual arrangements with Beijing Ezagoo Zhicheng Internet Technology Limited (BEZL) and includes its branch company, named
Changsha Branch of Beijing Ezagoo Industrial Development Group Holding Limited (BELCB), and its shareholders. The contractual arrangements
between CETL, BEZL and shareholders of BEZL allow us to:

    1.
    exercise effective control
    over BEZL and BELCB whereby having the power to direct BEZL and BELCB’s activities that most significantly drive the economic
    results of BEZL and BELCB;

    2.