Company: NCL
Filing Date: 2025-07-01
Form Type: 10-K
Source: 0001575872-25-000433
Chunk: 91

Company: Northann Corp.
Filing Date: 2025-07-01
Form: 10-K
Item: Item 13
Chunk 91
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CC-1 Financing Statement securing 3DFLOR’s security interests in the Collateral with Delaware. The Company’s audit committee approved and ratified the above mentioned transactions. The Company initiated a lawsuit against Newivy Flooring in the Sacramento court during the second quarter of 2025, with a claim amount of $56,454.49.

F-25

 21.UNRESTRICTED NET ASSETS 

 The following presents condensed financial information of Northann Corp: Condensed Financial Information on Financial Position   As of December 31,   2024  2023 Cash  -   370 Amounts due from subsidiaries  4,422,688   5,504,920 Total current assets  4,422,688        5,505,290 All other non-current assets  -   - Interests in a subsidiary  9,452,997   9,948,890 Total Assets  13,875,685   15,454,180          Liabilities and Stockholders’ Deficit        All other current liabilities  358,626   599,664 Amounts due to subsidiaries  10,881,994   10,660,508 Total current liabilities  11,240,620   11,260,172 Non-current liabilities  35,892   1,950,000 Total Liabilities  11,240,620   13,210,172          Stockholders’ Equity (Deficit)        Preferred stock,100,000,000 shares authorized – Series A, $0.001 par value, 20,000,000 shares designated, 5,000,000 shares issued and outstanding as of December 31, 2024 and 2023*  5,000   5,000 Common stock, $0.001 par value, 400,000,000 shares authorized, 55,464,000 and 20,000,000 shares issued and outstanding as of December 31, 2024 and 2023, respectively*  55,464   21,380 Subscription receivable  (1,375,000)  (25,000)Additional Paid-in Capital  15,487,165   6,671,016 Accrued compensation expense  (2,927,250)  - (A