Company: NCL
Filing Date: 2025-07-01
Form Type: 10-K
Source: 0001575872-25-000433
Chunk: 92

Company: Northann Corp.
Filing Date: 2025-07-01
Form: 10-K
Item: Item 13
Chunk 92
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ccumulated deficit) retained earnings  (9,693,818)  (3,652,547)Accumulated other comprehensive loss  1,047,612  (775,841)Total Stockholders’ Equity  2,599,173  2,244,008 Total Liabilities and Stockholders’ Deficit  13,875,685   15,454,180  *Retrospectively restated for the effect of 2-for-1 reverse stock split. (Note 18)  F-26

  Condensed Financial Information on Results of Operations    For the years ended December 31,    2024  2023 Revenue  250,000   43,251 Cost or revenues  -   - Operating expenses  2,668,613   3,381,482 Income taxes  1,733   12,919 Loss – Parent only  (2,420,347)  (3,351,150)Income (loss)– Subsidiaries with unrestricted net assets  1,175,106  (2,117,498)Loss – Subsidiaries with restricted net assets  (3,134,633)  (2,529)Net loss – Consolidated  (4,379,875)  (5,471,177) Condensed Financial Information on Cash Flows   For the years endedDecember 31,    2024  2023 Cash used in operating activities  (2,420,347)  (5,965,604)Cash used in investing activities  -          -Cash provided by financing activities  2,419,977   5,965,750 Net cash flows  (370)    146 Beginning cash balance  370   224 Ending cash balance  -      370   (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