Company: SEAH
Filing Date: 2025-07-24
Form Type: DRS
Source: 0001213900-25-067275
Chunk: 169

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-07-24
Form: DRS
Chunk 169
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 Automobiles |     | 2 – 6 years            |
| Land        |     | Infinite               |
| Tools       |     | 5 – 8 years            |

Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterments which substantially extend the useful life of assets are capitalized. The cost and related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gain or loss is recognized in the consolidated statements of operations and comprehensive income (loss). (j)Intangible assets, net Intangible assets, net with finite useful lives are carried at cost less accumulated amortization and any recorded impairment. Estimated useful lives by intangible asset class are as follows:

| Category                 |     | Estimated useful lives |
| Patent                   |     | 10 years               |
| Trademark license rights |     | 10 years               |
| Software                 |     | 5 years                |

The Group purchased patents, trademark license rights and software from third parties. Intangible assets acquired are measured at cost at the time of its initial recognition. After initial recognition, the Group amortizes these costs on straight -linebasis over their useful lives. Amortization expenses are included in general and administrative expenses. The estimated useful lives of intangible assets are reassessed if circumstances occur that indicate the original estimated useful lives may have changed. The estimated useful lives of intangible assets did not change during the years ended March 31, 2025 and 2024. (k)Impairment of long-lived assets The Group reviews its long -livedassets (primarily including property, plant and equipment and intangible assets) for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. When these events occur, the Group measures impairment by comparing the carrying value of the long -livedassets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, the Group would recognize an impairment loss, which is the excess of carrying amount over the fair value of the assets, which is determined through various valuation techniques including discounted cash flow models, quoted market values and third -partyindependent appraisals, as considered necessary. For the years ended March 31, 2025 and 2024,