Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 293

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 293
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                  | ​ | $ | 5,298,006 | ​ | $ | 2,287,132 |

Allowance for credit loss accounts movement for the years ended September 30, 2024, 2023 and 2022 is as follows:

| ​                                        
 ​                                        | ​ | ​    
 2024 |       ​ | ​ | ​    
 2023 |       ​ | ​ |       ​ 
    2022 |
|:-----------------------------------------|:--|:-----|--------:|:--|:-----|--------:|:--|--------:|
| Beginning balance                        | ​ | $    | 634,166 | ​ | $    | 694,257 | ​ | 736,725 |
| Adoption ASU 2016-13                     | ​ | ​    |  64,930 | ​ | ​    |       — | ​ |       — |
| Reversal                                 |   | ​    |       — |   | ​    | -96,408 |   |       — |
| Additions                                |   | ​    |  52,645 |   | ​    |  52,323 |   |  29,128 |
| Foreign currency translation adjustments |   | ​    |  28,368 |   | ​    | -16,006 |   | -71,596 |
| Ending balance                           | ​ | $    | 780,109 | ​ | $    | 634,166 |   | 694,257 |

NOTE 4 — RECEIVABLE FROM SALE OF SHARES On September 20, 2023, the Company issued 760,000ordinary shares at $2.50per share to Dragonsoft Holding Limited, a company wholly owned by Mr. Jianbiao Dai (Chief Executive Officer and Chairman of the Company). As of September 30, 2023, the proceeds of such transaction had not yet received by the Company. On October 5, 2023, instead of a capital injection to the Company, Dragonsoft Holding Limited made the payment of HK$ 15,000,000($ 1,900,000) to a third party AI development supplier on behalf of the Company as a deposit for an AI Technical Development Service Agreement entered on October 2, 2023, approved by the Board of Directors. The Company believes that training and running a vertical large language model (“LLM”) in education is crucial for the Company’s development. The