Company: NCL
Filing Date: 2025-07-01
Form Type: 10-K
Source: 0001575872-25-000433
Chunk: 101

Company: Northann Corp.
Filing Date: 2025-07-01
Form: 10-K
Item: Item 16
Chunk 101
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 split. (Note 18) 

F-5

NORTHANN CORP.

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

(In U.S. dollars)

			2024

			2023

			Cash flows from operating activities

			Net loss 

			$

			(4,379,875

			)

			$

			(7,132,573

			)

			Adjustments to reconcile net loss to cash (used in) provided by operating activities:

			Allowance for doubtful accounts

			-

			13,891

			Depreciation and amortization

			645,493

			680,166

			Impairment of Property, plant and equipment

			-

			- 

			Inventory write down

			-

			- 

			Impairment of goodwill

			2,507,455

			- 

			Income from settlement of convertible notes

			(250,000
			
			)

			- 

			Share-based compensation

			2,042,105

			- 

			Changes in assets and liabilities

			Accounts receivable

			(491,103

			)

			(1,186,720

			)

			Other receivables

			52,328

			(16,019

			)

			Prepayments

			(179,546

			)

			(74,835

			)

			Inventory

			649,877

			1,916,878

			Right of use assets

			(1,734,886

			)

			(69,140

			)

			Accounts payable

			(41,968

			)

			(2,381,174

			)

			Accruals and other payables

			(711,533

			)

			1,827,143

			Unearned revenue

			(1,084,484

			)

			1,084,197

			Payroll payable

			5,888

			51,483

			Taxes payable

			(7,362

			)