Company: NCL
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001575872-25-000540
Chunk: 5

Company: Northann Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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,217   3,910,949 Net loss   -   -   -   -   -   -   (2,261,558)  -   (2,261,558)Issuance of common stock   -   -   -   -   1,208,000   -   -   -   1,208,000 Accumulated other comprehensive income   -   -   -   -       -   -   1,522,347   1,522,347 Balance - June 30, 2025   5,000,000  $5,000   95,464,000  $95,464  $(4,967,850)  21,469,665   (14,586,105) $2,363,564  $4,379,738 

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

F-3

NORTHANN CORP.

CONSOLIDATED STATEMENTS OF CASH FLOWS

 (Unaudited)

(In U.S. dollars)

			Six Months Ended June 30,

			2025

			2024

			CASH FLOWS FROM OPERATING ACTIVITIES

			Net loss

			$

			(4,892,287

			)

			$

			(937,462

			)

			Net income from discontinued operations

			Adjustments to reconcile net income to net cash provided by operating activities:

			Depreciation and amortization expense

			332,568

			157,912

			Share-based Compensation

			816,750

			1,161,596

			Income from settlement of convertible notes

			-

			(250,000

			)

			Lease expense

			173,672

			15,510

			Tax payable write-off

			(539,505

			)

			-

			Changes in operating assets and liabilities:

			Accounts receivable

			232,911

			82,315

			Inventory

			(1,493,296

			)

			(400,363

			)

			Other receivable

			9,269