Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 323

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 323
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 do not require adoption until a future date are not expected to have a material impact on the CFS upon adoption. The Company does not discuss recent standards that are not anticipated to have an impact on or are unrelated to its CFS.

NOTE 3 — ACCOUNTS RECEIVABLE, NET

Accounts receivable as of March 31, 2025 and September 30, 2024 are as follows:

| ​                                 
 ​                                 
 ​                                 
 ​                                 | ​ 
 ​ 
 ​ | ​         
 March 31, 
 2025      
 ​         |          ​ 
          ​ | ​ 
 ​ 
 ​ | ​             
 September 30, 
 2024          
 audited       |         ​ |
|:----------------------------------|:--|:----------|-----------:|:--|:--------------|----------:|
| Accounts receivable               | ​ | $         |  5,686,131 | ​ | $             | 6,078,115 |
| Less: allowance for credit losses |   | ​         | -1,031,775 |   | ​             |  -780,109 |
| Account receivable, net           | ​ | $         |  4,654,356 | ​ | $             | 5,298,006 |

Allowance for credit losses movement for the six months ended March 31, 2025 and 2024 are as follows:

| ​                                        | ​ 
 ​ | ​ |         ​ 
      2025 | ​ | ​ |       ​ 
    2024 |
|:-----------------------------------------|:--|:--|----------:|:--|:--|--------:|
| Beginning balance                        | ​ | $ |   780,109 | ​ | $ | 634,166 |
| Adoption ASU 2016-13                     | ​ | ​ |         — | ​ | ​ |  64,930 |
| Reversal                                 |   | ​ |         — |   | ​ | -16,087 |
| Additions                                |   | ​ |   273,849 |   | ​ |       - |
| Foreign currency translation adjustments |   | ​ |   -22,183 |   | ​ |   7,362 |
| Ending balance                           | ​ | $ | 1,031,775 | ​ | $ | 690,371 |

NOTE 4 — ADVANCES TO VENDORS Advance to vendors consisted of prepayments for technical service and IT