Company: NCL
Filing Date: 2025-07-01
Form Type: 10-K
Source: 0001575872-25-000433
Chunk: 46

Company: Northann Corp.
Filing Date: 2025-07-01
Form: 10-K
Item: Item 12
Chunk 46
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 5,000,000 shares issued and outstanding as of December 31, 2024 and 2023*  5,000   5,000 Common stock, $0.001 par value, 400,000,000 shares authorized, 55,464,000 and 20,000,000 shares issued and outstanding as of December 31, 2024 and 2023, respectively*  55,464   21,380 Subscription receivable  (1,375,000)  (25,000)Additional Paid-in Capital  15,487,165   6,671,016 Accrued compensation expense  (2,927,250)  - (Accumulated 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