[1]

Uplus Academy LLC and Uplus Academy NLV LLC were both subsidiaries of Richtech, and were disposed on December 31, 2021. Richtech has been making interest-free and non-maturity loans to both companies since their inceptions. On December 31, 2021, Uplus Academy LLC and Uplus Academy NLV LLC, subsidiaries of Richtech have been disposed to Zhenwu Huang, CEO and controlling stockholder of Richtech, to pay off part of Zhenwu Huang’s earlier loans to Richtech. The transaction price for Uplus Academy LLC and Uplus Academy NLV LLC were $120 and $7, respectively.

[2]

We made an interest-free and non-maturity loans for the amount of $31 to Zhenwu Huang, CEO and controlling shareholder of Richtech in December 2023.

[3]

Zhenwu Huang, CEO and controlling stockholder of Richtech, made multiple interest-free and non-maturity loans to Richtech since the inception of the business to support Richtech’s operation. As of December 31, 2023, Richtech has paid off the remaining balance to Zhenwu Huang.

[4]

Bison Systems LLC was 100% owned by Zhenwu Huang, CEO and controlling stockholder of Richtech and Zhenqiang Huang, CFO and major stockholder of Richtech. In 2022 and 2023, Bison Systems LLC made several interest-free and non-maturity loans to Richtech to support its daily operation.

[5]

Phil Zheng has served as Richtech’s COO since February 2020. Phil made an interest-free and non-maturity loans to Richtech in May 2023. As of December 31, 2023, Richtech has paid off the remaining balance to Phil Zheng.