Company: SEAH
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091701
Chunk: 70

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-09-25
Form: F-1
Chunk 70
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5, we had inventory in transit balance of approximately US$5.12 million. The inventory in transit has been fully received by the customer as of the date of this prospectus. Accounts payable amounted to approximately US$7.71 million and approximately US$1.27 million as of March 31, 2025 and 2024, respectively. These accounts payable are related to the purchase of recycling and waste paper, which are critical to our ongoing operations. The management is actively monitoring the payment schedules to ensure timely settlement and maintain strong relationships with our suppliers. Advance from customers amounted to approximately US$3.35 million and approximately US$0.23 million as of March 31, 2025 and 2024, respectively, which will be recognized as revenue when the products are delivered. As of March 31, 2025, we had a current portion of long -termloans of approximately US$0.84 million and long -termloans of approximately US$2.84million. These loans were mainly borrowed from Banks in Japan for working capital purposes, including Mizuho Bank, Ltd, Japan Finance Corporation, The Chiba Bank, Ltd, Kiraboshi Bank, Ltd, The Sugamo Shinkin Bank, and The Tokyo Shinkin Bank. The loans have maturities from 2024 to 2037, with fixed interest rates of 0.13% to 10.0% or tied to Tokyo Interbank Offered Rate (“TIBOR”) plus a spread. Certain loans from Mizuho Bank, The Tokyo Shinkin Bank, and The Chiba Bank, Ltd are guaranteed by Mr.Shihai Bi, while others have no external guarantors. In addition, the loan from The Chiba Bank, Ltd maturing in 2037 is secured by a pledge of land. The current portion of these loans is due within the next 12 months and is expected to be repaid through our regular operating cash flows. We have a well -definedrepayment plan in place to ensure that these obligations are met promptly and without adversely impacting our financial stability. Our liquidity is based on our ability to generate cash from operating activities, obtain capital financing from equity interest investors and borrow funds from financial institutions. Our future capital requirements depend on many factors, including our growth rate, the continuing market acceptance of our products, the timing and extent of our product development efforts, the expansion of sales and marketing activities, and the expansion and penetration of our business into different geographies