Company: NCL
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001575872-25-000691
Chunk: 5

Company: Northann Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 5
---

			9,673,053

			Operating lease liabilities, non-current

			1,183,547

			1,466,512

			Loan payable, non-current

			2,923,281

			136,947

			TOTAL LIABILITIES

			13,109,095

			11,276,512

			Commitments and contingencies

			-

			-

			Stockholders' Equity

			Preferred stock – Series A: $0.001 par value, 20,000,000 shares authorized, 10,000,000 shares issued and outstanding as of September 30, 2025 and December 31, 2024

			5,000

			5,000

			Preferred stock – Undesignated: 80,000,000 authorized, $0.001 par value, No shares issued and outstanding

			- 

			- 

			Common stock: $0.001 par value, 400,000,000 shares authorized, 179,797,995 shares issued and outstanding as of September 30, 2025 and 55,464,000 shares issued and outstanding as of December 31, 2024

			179,798

			55,464

			Subscription receivable

			(16,395,050

			)

			(1,375,000

			)

			Additional paid-in Capital

			41,267,415

			15,487,165

			Accrued compensation expense

			(2,110,500

			)

			(2,927,250

			)

			Accumulated deficit

			(23,385,418

			)

			(9,693,818

			)

			Accumulated other comprehensive income

			2,283,378

			1,047,612

			Total stockholders’ deficit

			1,844,623

			2,599,173

			TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

			$

			14,953,718

			$

			13,875,685

The accompanying notes are an integral part of these consolidated financial statements.

F-1

NORTHANN CORP.

CONSOLIDATED STATEMENTS OF OPERATIONS