Company: SEAH
Filing Date: 2025-08-29
Form Type: DRS/A
Source: 0001213900-25-082696
Chunk: 193

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-08-29
Form: DRS/A
Chunk 193
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al                             |     |                 | (11,333 | ) |     |   |       — |   |
| Foreign currency translation         |     |                 |   2,517 |   |     |   | (14,263 | ) |
| Balance at the end of the year       |     | $               | 298,565 |   |     | $ | 307,381 |   |

All of the March 31, 2024 accounts receivable balance has been collected in year ended March 31, 2025. For the accounts receivable balance as of March 31, 2025, 87.2% has been subsequently collected, and the remaining balance is expected to be collected by September30, 2025. 4.INVENTORIES Inventories consisted of the following:

|                        |     | As of March 31, 
 2025            |           |     | 2024 |   |
|:-----------------------|:----|:----------------|----------:|:----|:-----|:--|
| Inventories in transit |     | $               | 5,124,240 |     | $    | — |
| Inventories            |     | $               | 5,124,240 |     | $    | — |

Inventories in transit represent products that have been shipped to the customers but have not yet been received by them as of the balance sheet date. Inventories in transit as of March 31, 2025 were delivered to customers within one to three months after the balance sheet date. All the inventories have been delivered to the customers as the issuance date of these consolidated financial statements. The Group reviews its inventories periodically to determine if any write -downsare necessary for potential obsolescence, expiration of shelf life, or if the carrying value exceeds net realizable value. The Group did not record any inventory write -downsfor the years ended March 31, 2025 and 2024.

F-20

SEAHAWK RECYCLING HOLDINGS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (In U.S. Dollar, except for share data) 5.PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET Prepaid expenses and other current assets, net consisted of the following:

|                                                |     | As of March 31, |    2025 |   |     |   |    2024 |   |
|:--------------------------------