Company: NCL
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001575872-25-000540
Chunk: 108

Company: Northann Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 108
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 - Cost or revenues  -   - Operating expenses  1,050,859   1,598,981 Income taxes  -   933 Income (loss) – Parent only  (1,050,859)  (1,599,915)Income (loss) – Subsidiaries with unrestricted net assets  (3,719,877)  622,163 (Loss) – Subsidiaries with restricted net assets  (121,551)  290 Net (loss) income – Consolidated  (4,892,287)  937,462   Condensed Financial Information on Cash Flows  For thesixmonthsendedJune 30,  For thesixmonthsendedJune 30,   2025  2024   (Unaudited) Cash (used in) provided by operating activities  (1,050,859)  (251)Cash (used in) provided by investing activities  -   - Cash (used in) provided by financing activities  1,051,359   - Effect of exchange rates on cash  -   - Net cash flows  500   (251)Beginning cash balance  -   370 Ending cash balance  500   119  (i)Basis of presentation The condensed financial information reflects the accounts of the Company. The condensed financial information should be read in connection with the consolidated financial statements and notes thereto. The condensed financial information is presented as if the incorporation of the Company were in effect since January 1, 2020. (ii)Restricted Net Assets Schedule I of Rule 5-04 of Regulation S-X requires the condensed financial information of registrant shall be filed when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. For purposes of the above test, restricted net assets of consolidated subsidiaries shall mean that amount of the registrant’s proportionate share of net assets of consolidated subsidiaries (after intercompany eliminations) which as of the end of the most recent fiscal year may not be transferred to the parent company by subsidiaries in the form of loans, advances or cash dividends without the consent of a third party (i.e., lender, regulatory agency, foreign government, etc.). The Company’s only assets are its equity interests in its subsidiaries