Company: SEAH
Filing Date: 2025-08-29
Form Type: DRS/A
Source: 0001213900-25-082696
Chunk: 190

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-08-29
Form: DRS/A
Chunk 190
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| Southeast Asia |     |                     |  7,366,535 |     |   |  4,725,164 |
| Total          |     | $                   | 65,203,328 |     | $ | 51,003,770 |

For operating results of segment provided to and reviewed by CODM, please refer to the consolidated statements of operations and comprehensive income (loss). (z)Commitments and contingencies In the normal course of business, the Group is subject to commitments and contingencies, including operating lease commitments, legal proceedings and claims arising out of its business that relate to a wide range of matters, such as government investigations and tax matters. The Group recognizes liability for any such contingencies if it determines it is probable that a loss has occurred and a reasonable estimate of the loss can be made. The Group may consider many factors in making these assessments on liability for contingencies, including historical and the specific facts and circumstances of each matter. For the years ended March 31, 2025 and 2024, the Group did not have any material legal claims or litigation that, individually or in aggregate, could have a material adverse impact on the Group’s consolidated financial position, results of operations, and cash flows. The Company had contractual payment obligations under its operating lease agreements with the landlords.

F-18 SEAHAWK RECYCLING HOLDINGS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (In U.S. Dollar, except for share data) 2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) (aa) Recently issued accounting pronouncements The Group is an “emerging growth company” (“EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, EGC can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. Recently issued accounting pronouncements issued and adopted On November 27, 2023, FASB issued Accounting Standards Update No. 2023 -07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023 -07”), which requires that an entity disclose significant segment expenses impacting profit and loss that are regularly provided to the chief operating decision maker. The update is required to be applied retrospectively to prior periods presented, based on the significant segment expense categories identified and disclosed in the period