Company: SEAH
Filing Date: 2025-07-24
Form Type: DRS
Source: 0001213900-25-067275
Chunk: 181

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-07-24
Form: DRS
Chunk 181
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     | $                   | 65,399,994 |     | $    | 51,003,770 |

Geographic information The majority of the Group’s revenue for the fiscal years ended March 31, 2025 and 2024 was generated from recycling sales to different geographic areas including Japan and other countries. The following table sets forth the disaggregation of revenue by geographic area:

|                |     | For the years ended 
 March 31,           |       2025 |     |   |       2024 |
|:---------------|:----|:--------------------|-----------:|:----|:--|-----------:|
| East Asia      |     | $                   | 57,836,793 |     | $ | 46,278,606 |
| 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