Company: MASK
Filing Date: 2025-12-30
Form Type: F-1
Source: 0001185185-25-002198
Chunk: 70

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-12-30
Form: F-1
Chunk 70
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 2024; (ii) the nature of proceedings in which the judgment was given is civil or commercial in nature under PRC law (or criminal in nature under PRC law and the judgment contains an order for the payment of money in respect of compensation or damages by a party to the proceedings); (iii) the other party has defaulted in complying with the Mainland judgment’s requirement within two years prior to the application for registration; and (iv) the judgment is effective in the Mainland and is not subject to appeal. The registration of such a Mainland judgment in Hong Kong may however be set aside on various grounds, including but not limited to, that the judgment was obtained by fraud, the enforcement of the judgment is manifestly incompatible with public policy, or a requirement for registration has not been complied with. For a Mainland judgment in Hong Kong given pursuant to “choice of court agreements” made before January 29, 2024, its registration in Hong Kong is subject to various requirements under the Mainland Judgments (Reciprocal Enforcement) Ordinance (Chapter 597 of the laws of Hong Kong), including but not limited to, that the judgment is final and conclusive as between the parties to the judgment, the judgment is enforceable in mainland China, and the judgment orders the payment of a sum of money (not being a sum payable in respect of taxes or other charges of a like nature of in respect of a fine or other penalty). The registration of such a Mainland judgment in Hong Kong may however be set aside on various grounds, including but not limited to, that the judgment was obtained by fraud, or the enforcement of the judgment is contrary to public policy. 36 USE OF PROCEEDS We will not receive any proceeds from the sale of shares by the Selling Shareholder. As of the date hereof, we received US$1,380,000 from the Selling Shareholder under the Securities Purchase Agreement for the issuance of the Convertible Note in the initial principal amount of $1,500,000. We may receive an additional $460,000 in gross proceeds and issue the remaining $500,000 of principal of the Note upon effectiveness of the registration statement of which this prospectus forms a part, subject to certain additional terms and conditions. These proceeds will be used for general corporate and working capital or other purposes that our board of directors deems to be in our best interest. As of the date of this prospectus, we cannot specify with certainty the particular use for the net proceeds we may receive.