Company: NCL
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001575872-25-000691
Chunk: 119

Company: Northann Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 119
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2%Total general and administrative expenses $ 2,649,905   100.00% $ 2,521,940   100.00% $ 127,965   5.1%

Research and development expenses. Our research and development expenses decreased to $1,007,783 for the nine months ended September 30, 2025 from $1,272,257 for the same period in 2024. 

Net (loss) income. As a result of the cumulative effect of the factors described above, our net loss was $13,691,600 for the nine months ended September 30, 2025 and $440,897 for the nine months ended September 30, 2024. The increase in net loss was primarily due to the decrease in gross profit and increase in operating expenses.

Liquidity and Capital Resources

As of September 30, 2025 and December 31, 2024, we had cash of $40,883, and $245,164, respectively. To date, we have financed our operations primarily through our business operations, borrowings from our stockholders, related and unrelated parties, and proceeds from IPO.

The Company believes that its current levels of cash and cash flows from operations will be sufficient to meet its anticipated cash needs for at least the next twelve months. However, it may need additional cash resources in the future if it finds and wishes to pursue opportunities for investment, acquisition, strategic cooperation or other similar actions. If it determines that its cash requirements exceed its amounts of cash on hand or if it decides to further optimize its capital structure, it may seek to issue additional debt or equity securities or obtain credit facilities or other sources of funding.

5

The following table set forth a summary of its cash flows for the periods indicated:

  For the Nine Months Ended   September 30,   2025  2024 Net cash (used in) provided by operating activities $(3,845,524,) $345,402 Net cash (used in) investing activities $(1,018,571) $(348,795)Net cash provided by (used in ) financing activities $3,777,759  $(1,076,360)

Operating Activities

Net cash used in operating activities was $3,845,524 for the nine months ended September 30, 2025. The net cash used in operating activities for the nine months ended September 30