Company: NCL
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001575872-25-000540
Chunk: 71

Company: Northann Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1F
Chunk 71
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 amount of $24,000,000 at an interest rate of 1.00% per year.

18. SUBSEQUENT EVENT The short-term bank loan of $1,256,352 expired on July 27, 2025 and renewed until March 28, 2026 with interest rate of 4.55% per annum.

F-18

19.          UNRESTRICTED NET ASSETS The following presents condensed financial information of Northann Corp: Condensed Financial Information on Financial Position   As ofJune 30,    As ofDecember 31,    2025  2024   (Unaudited)    Cash  500   - Amounts due from subsidiaries  7,487,336   4,422,688 Total current assets  7,487,836   4,422,688 All other non-current assets  1,608,932   - Interests in a subsidiary  7,406,658   9,452,997 Total Assets  16,502,926   13,875,685          Liabilities and Stockholders’ Deficit        All other current liabilities  336,946   358,626 Amounts due to subsidiaries  11,786,242   10,881,994 Total current liabilities  12,123,188   11,240,620 Non-current liabilities  -   35,892 Total Liabilities  12,123,188   11,276,512          Stockholders’ Equity (Deficit)        Preferred stock – Series A, $0.001 par value, 100,000,000 shares authorized, 10,000,000 shares issued and outstanding as of March 31, 2025 and December 31, 2024  5,000   5,000 Common stock, $0.001 par value, 400,000,000 shares authorized, 95,464,000 shares issued and outstanding as of March 31, 2025 and 55,464,000 shares issued and outstanding as of December 31, 2024  95,464   55,464 Subscription receivable  (4,967,850)  (1,375,000)Additional Paid-in Capital  23,580,165   15,487,