Company: SEAH
Filing Date: 2025-11-24
Form Type: F-1/A
Source: 0001213900-25-113788
Chunk: 73

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-11-24
Form: F-1/A
Chunk 73
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.04 million in inventories due to the in -transitinventories, and an increase of approximately US$4.14 million in accounts receivable due to the increasing sales particularly in March 2025. Our net cash used in operating activities was approximately US$1.50 million for the year ended March 31, 2024, which was primarily attributable to a net loss of approximately US$0.30 million, as adjusted for (1) certain non -cashitems, primarily including gain on disposal of property, plant and equipment of approximately US$0.43 million, deferred tax expense of approximately US$0.35 million, provision for expected credit loss of approximately US$0.33 million, gain from changes in fair value of short -terminvestments of approximately US$0.14 million; and (2) changes in working capital that negatively affected the cash flow from operating activities, primarily including an increase of approximately US$1.05 million in accounts receivable due to the increasing sales particularly in March 2024, an increase of approximately US$0.37 million in prepaid expenses and other current assets due to the decrease of prepaid tax expenses and prepaid brokerage fee, and a decrease of approximately US$0.30 million in accrued expenses and other current liabilities due to the increase in brokerage fee; partially offset by (3) changes in working capital that positively affected the cash flow from operating activities, primarily including an increase of approximately US$0.62 million in accounts payable due to the growth in procurement in March 2024. Investing activities Our net cash provided by investing activities for the year ended March 31, 2025 was approximately US$1.70 million primarily attributable to (1) proceeds from the disposal of property and equipment of approximately US$1.83 million, (2) proceeds from the sale of short -terminvestments of approximately US$0.33 million; partially offset by (1) purchase of intangible assets of approximately US$0.30 million, and (2) purchase of property, plant and equipment of approximately US$0.16 million. Our net cash provided by investing activities for the year ended March 31, 2024 was approximately US$1.01 million primarily attributable to (1) proceeds from the disposal of property and equipment of approximately US$2.75 million, (2) proceeds from the sale of short -terminvestments of approximately US$0.40 million, partially offset by (1) purchase of property, plant and equipment