Company: SEAH
Filing Date: 2025-08-29
Form Type: DRS/A
Source: 0001213900-25-082696
Chunk: 76

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-08-29
Form: DRS/A
Chunk 76
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ivable, 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. Our 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 |

50 Critical Accounting Policies Accounts receivable, net Accounts receivable, net are stated at the original amount less allowances for expected credit losses. Accounts receivable are recognized in the period when the Group has delivered the products and services to its customers and when its right to consideration is unconditional. Accounts receivable that are ultimately deemed to be uncollectible, and for which collection efforts have been exhausted, are written off against the provision for credit losses. As of March31, 2025 and 2024, the balance of allowance for expected credit losses for the Group’s accounts receivable was US$298,565 and US