Company: SEAH
Filing Date: 2025-08-29
Form Type: DRS/A
Source: 0001213900-25-082696
Chunk: 62

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-08-29
Form: DRS/A
Chunk 62
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ized gains and losses from the valuation of short -terminvestments and realized gains and losses from the sale of short -terminvestments. Taxation British Virgin Islands Under the current laws of the BVI, entities incorporated in the BVI are not subject to tax on their income or capital gains. In addition, dividends paid by the BVI subsidiaries to their respective shareholders who are not residents of the BVI, if any, are not subject to withholding tax in the BVI. Japan We conduct our major businesses in Japan and are subject to tax in this jurisdiction. As a result of our business activities, we file tax returns that are subject to examination by the local tax authority. Income taxes in Japan applicable to us are imposed by the national, prefectural, and municipal governments, and in the aggregate, resulted in an effective statutory rate of approximately 34.59% for the years ended March 31, 2025 and 2024. 41

Results of Operations Comparison of Results of Operations for the Years Ended March 31, 2025 and 2024 The following table sets forth a summary of our consolidated results of operations, in absolute amount and as a percentage of our revenues for the years ended March 31, 2025 and 2024. This information should be read together with our consolidated financial statements and related notes included elsewhere in this prospectus. The results of operations in any period are not necessarily indicative of the results that may be expected for any future periods.

|                                                     |     | For the Years Ended March 31, |   |     |       |   |     |             |   |     |       |   |     |    Variance |   |     |            |   |
|                                                     |     |                          2025 |   |     |       |   |     |        2024 |   |     |       |   |     |      Amount |   |     | Percentage |   |
|                                                     |     |                           US$ |   |     |     % |   |     |         US$ |   |     |     % |   |     |         US$ |   |     |          % |   |
| Revenues                                            |     |                    65,399,994 |   |     | 100.0 |   |     |  51,003,770 |   |     | 100.0 |   |     |  14,396,224 |   |     |       28.2 |   |