Company: SEAH
Filing Date: 2025-08-29
Form Type: DRS/A
Source: 0001213900-25-082696
Chunk: 181

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-08-29
Form: DRS/A
Chunk 181
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 and cash equivalents, accounts receivable, short -terminvestments, other receivables included in prepayments and other current assets, long -termborrowings, accounts payable and other payables included in accrued expenses and other current liabilities. As of March 31, 2025 and 2024, the carrying values of current assets and current liabilities approximated their fair values reported in the consolidated balance sheets due to the short -termmaturities of these instruments. The Group’s non -financialassets, such as property and equipment, intangible assets and operating lease right -of -useassets, would be measured at fair value only if they were determined to be impaired. Assets measured at fair value on a recurring basis as of March 31, 2025 are summarized below:

|                                                                     |     | Fair Value Measurements as of March 31, 2025 |    Quoted Prices 
        in Active 
      Markets for 
 Identical Assets 
        (Level 1) |     |   | Significant 
 Other       
 Observable  
 Inputs      
 (Level 2)   |        | Unobservable 
 Inputs       
 (Level 3)    |   | Fair Value at 
     March 31, 
          2025 |
|:--------------------------------------------------------------------|:----|:---------------------------------------------|-----------------:|:----|:--|:------------|-------:|:-------------|:--|--------------:|
| Short-term investments:                                             |     |                                              |                  |     |   |             |        |              |   |               |
| Investments in public entities with readily determinable fair value |     | $                                            |          503,784 |     | — |             |      — |              | $ |       503,784 |
| Investments in funds that report NAV per share                      |     | $                                            |                — |     | — |             | 92,512 |              | $ |        92,512 |

F-12 SEAHAWK RECYCLING HOLDINGS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (In U.S. Dollar, except for share data) 2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) (n) Corporate-owned Life Insurance Policies The Group’s Japanese operating entity, Kaiyo, has purchased corporate -ownedlife insurance policies to insure the life of its chief executive officer and heads of departments of the Group. Management considers these policies to be operating assets. These insurance policies are recorded at their