Company: EZOO
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022083
Chunk: 38

Company: Ezagoo Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 38
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 new Chief Financial Officer of the Company.

EZAGOO
LIMITED and its subsidiaries are hereinafter referred to as the “Company”.

    F-6

EZAGOO
LIMITED

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(Currency
expressed in United States Dollars (“US$”), except for number of shares)

NOTE
2 - GOING CONCERN UNCERTAINTIES

As
of September 30, 2025, the Company had shareholder deficit of $4,049,359 and accumulated deficit of $5,656,692, and the company had incurred
a net loss of $332,448 and negative operating cashflows of $340,377 for the nine months ended September 30, 2025. The continuation of
the Company as a going concern through September 30, 2025 is dependent upon improving profitability and the continuing financial support
from its stockholders. Management believes the existing shareholders or external financing will provide additional cash to meet the Company’s
obligations as they become due.

These
and other factors raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements
do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts
and classification of liabilities that may result in the Company not being able to continue as a going concern.

NOTE
3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The
accompanying unaudited condensed consolidated financial statements reflect the application of certain significant accounting policies
as described in this note and elsewhere in the accompanying consolidated financial statements and notes.

●
Basis of consolidated presentation

These
condensed consolidated financial statements, accompanying notes, and related disclosures have been prepared pursuant to the rules and
regulations of the U.S. Securities and Exchange Commission (“SEC”). These accompanying condensed consolidated financial statements
have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).
The Company’s fiscal year end is December 31. The Company’s financial statements are presented in U.S. dollars.

The
condensed consolidated financial statements include the accounts of EZAGOO LIMITED and its subsidiaries. All significant inter-company
balances and transactions within the Company have been eliminated upon consolidation.

A
subsidiary is an entity in which (i) the Company directly or indirectly controls more than 50% of the voting power; or (ii)