Company: SEAH
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091701
Chunk: 107

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-09-25
Form: F-1
Chunk 107
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’s customary business practices. These agreements are signed between us and the customer and come into force after signing or stamping by both parties. The agreements clearly specify each party’s rights regarding the products to be delivered, including product name, unit price, quantity or weight, delivery terms, and other details. The payment terms are specified in each agreement, including the amounts and settlement methods. For the waste papers, our customers are mostly recycled pulp mills and trading companies located in Japan, with a portion of our customers operating in Southeast Asia. For the paper pulps, our customers primarily consisted of paper manufacturers and trading companies across Japan, East Asia and Southeast Asia. For the old metal appliances, our customers are mostly smelters, or trading companies located in Japan. For processed and dismantledmetal wires, our customers primarily consisted of metal processing firms, smelters or trading companies located in Japan, East Asia and Southeast Asia. For the fiscal year ended March 31, 2025, we had one major customer who accounted for more than 10% of our total revenues. For the fiscal year ended March 31, 2025, the major customer contributed $22,202,993, which accounted for 33.95% of our total revenues. For the fiscal year ended March 31, 2024, we had one major customer who accounted for more than 10% of our total revenues. For the fiscal year ended March 31, 2024, the major customer contributed $18,257,031, which accounted for 35.80% of our total revenues. We entered into a master sales agreement with our major customer (the “Sales Agreement”), of which the material terms are as follows: Term and Termination The Sales Agreement is effective for a period of three years from the date of execution, December 1, 2023. Unless either party raises a written objection three (3) months prior to the expiration date of the Sales Agreement, it shall automatically be extended for a period of one (1) year. 75 In the event of any material breach, violation of law, or bankruptcy of a party, the other party may immediately terminate the Sales Agreement. Subject Items The subject items under the Sales Agreement are recyclable metal resources with recovery value, including but not limited to: •Used motors, engines, and related metal components; •Scrap machinery and industrial metal parts; •Small electrical and electronic devices containing recyclable metal; and •Other recyclable metal items mutually agreed in writing by both parties. We