Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 381

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 381
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, discounted to their present value using a pre tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. An impairment loss is recognized if the carrying amount of an asset or CGU exceeds its recoverable amount. Impairment losses are recognized in profit or loss. They are allocated to reduce the carrying amounts of the other assets in the CGU on a pro rata basis. An impairment loss can be reversed only if the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized.

| (h) | Revenue Recognition |

Revenue is measured based on the consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control of a good or a service to a customer. The accounting policies for the Company’s main types of revenue are explained below. F-116

PayNow Inc. Notes to the Financial Statements (Continued)

| 1. | Payment gateway service |

The Company provides a technology platform that is integrated with multiple banks in Taiwan and acts as an intermediary in electronic financial transactions between consumers, banks and merchants. The platform enables in-personand online businesses to accept, process, and manage various payment methods—such as credit cards, web ATM, and payment at convenience stores—in a secure and efficient manner. The Company charges merchants transaction fees based on contracts entered into with merchants. Such fees is recognized as income when the Company satisfies its performance obligations by rendering services and it is based on a percentage of the underlying payments successfully processed by the Company. Before the Company settles with the merchant or fulfill its obligation to provide services to a merchant, consideration received in advance is deferred and recognized as a contract liability.

| 2. | Logistics service |

The Company collaborates with major domestic convenience store chains for logistics, assisting merchants in delivering goods to consumers, integrating logistics and payment information. The Company charges a processing fee based on the number of items delivered to end consumers and recognizes revenue on a gross basis. Before the goods are delivered, the Company recognizes the consideration received as a contract liability.

| 3. | Electronic invoicing system |

The Company provides an electronic invoicing system, assisting merchants in generating invoices and uploading them to the government platform. The Company charges an annual system fee and recognizes revenue over the contract period using the straight-line method. Before the Company provides the services to the merchant,