Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 147

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 147
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 Company had working capital of approximately $3.2 million. The Company has historically funded its working capital needs primarily from operations, bank loans, advance payments from customers and shareholders. The working capital requirements are affected by the efficiency of operations, the numerical volume and dollar value of revenue contracts, the progress or execution on customer contracts, and the timing of accounts receivable collections.

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In assessing its liquidity, the Company monitors and analyzes its cash on hand, its ability to generate sufficient revenue sources in the future and its operating and capital expenditure commitments. As of March 31, 2025, the Company had cash and restricted cash of approximately $2.3 million. As of September 30, 2024, the Company had cash of approximately $0.4 million. The Company closed an initial public offering in December 2024, from which the Company raised gross proceeds of $9 million. In addition, the Company signed a private placement contract in September 2025, from which the Company can raise gross proceeds of $2.4 million. As a result, the Company believes that its cash on hand, operating cash flows and future financing cash inflow will be sufficient to fund its operations over at least the next 12 months from the date of this report. However, the Company may need additional cash resources in the future if the Company experiences changed business conditions or other developments, and may also need additional cash in the future if the Company wishes to pursue opportunities for investment, acquisition, strategic cooperation or other similar actions. If it is determined that the cash requirements exceed the Company’s amounts of cash on hand, the Company may seek to issue debt or equity securities or obtain a credit facility. For the six months ended March 31, 2025 and 2024

| ​                                                   | ​ 
 ​ | ​ |          ​ 
       2025 | ​ | ​ |        ​ 
     2024 |
|:----------------------------------------------------|:--|:--|-----------:|:--|:--|---------:|
| Net cash (used in) operating activities             | ​ | $ | -7,020,541 | ​ | $ | -211,835 |
| Net cash provided by investing activities           | ​ |   |     18,050 | ​ |   |        — |
| Net cash provided by financing activities           | ​ |   |  8,910,310 | ​ |   |    1,502 |
| Effect of exchange rate change