Company: NCL
Filing Date: 2025-07-02
Form Type: 10-K/A
Source: 0001575872-25-000444
Chunk: 32

Company: Northann Corp.
Filing Date: 2025-07-02
Form: 10-K/A
Chunk 32
---
,106,561 |     | $ |    2,615,458 |
| Total                     |     | $ |    3,106,561 |     | $ |    2,615,458 |

There was noallowance for doubtful accounts recorded as of December 31, 202 4, and202 3 .

| F-17 |

| 6. | OTHER RECEIVABLES |

Other receivables consist of the following:

|                              |     |   | December 31, 
         2024 |     |   | December 31, 
         2023 |
|:-----------------------------|:----|:--|-------------:|:----|:--|-------------:|
| Depositand other receivables |     |   |       74,984 |     |   |      127,313 |
| Total                        |     | $ |       74,984 |     | $ |      127,313 |

| 7. | INVENTORY, NET |

Inventories, net, consist of the following:

|                              |     |   | December 31, 
         2024 |     |   | December 31, 
         2023 |
|:-----------------------------|:----|:--|-------------:|:----|:--|-------------:|
| Raw materials and components |     | $ |    1,517,697 |     | $ |    1,654,771 |
| Finished goods               |     |   |      477,913 |     |   |      990,717 |
| Inventories, net             |     | $ |    1,995,611 |     | $ |    2,645,488 |

Aloan borrowed by the Company from Bank of America is secured by the inventory .

| 8. | EQUIPMENT, NET |

Equipment, net consists of the following:

|                                |     |   | December 31, 
         2024 |     |   | December 31, 
         2023 |
|:-------------------------------|:----|:--|-------------:|:----|:--|-------------:|
| Manufacturing equipment        |     |   |    8,315,845 |     |   |    8,790,918 |
| Office equipment               |     |   |      314,748 |     |   |      319,624 |
| Less: Accumulated depreciation |