Company: NCL
Filing Date: 2025-07-01
Form Type: 10-K
Source: 0001575872-25-000433
Chunk: 97

Company: Northann Corp.
Filing Date: 2025-07-01
Form: 10-K
Item: Item 16
Chunk 97
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875,685  $13,618,710          LIABILITIES AND STOCKHOLDERS’ DEFICIT                 CURRENT LIABILITIES        Bank borrowings - current  4,699,081   5,689,721 Operating lease liabilities, current  355,754        31,413 Accounts and other payables and accruals  2,600,469    4,538,322 Taxes payable  601,317    608,679 Unearned revenue  -  1,084,484 Amounts due to related parties  1,416,432    302,943 Obligation under secured borrowing arrangement  -   599,664 Total current liabilities  9,673,053    12,855,226          Bank borrowings – non-current  136,947   124,905 Operating lease liabilities, – non-current  1,466,512    55,967 Total non-current liabilities  1,603,459    180,872          TOTAL LIABILITIES $11,276,512  $13,036,098          COMMITMENTS AND CONTINGENCIES               STOCKHOLDERS’ EQUITY (DEFICIT)        Preferred stock, 100,000,000 shares authorized – Series A, $0.001 par value, 20,000,000 shares designated, 5,000,000 shares issued and outstanding as of December 31, 2024 and 2023*  5,000   5,000 Common stock, $0.001 par value, 400,000,000 shares authorized, 55,464,000 and 21,380,000 shares issued and outstanding as of December 31, 2024 and 2023, respectively*  55,464   21,380 Subscription receivable  (1,375,000)  (25,000)Accrued compensation expense  (2,927,250)    Additional paid-in capital  15,487,165   6,671,016 Accumulated deficits  (9,693,818)  (5,313,943)Accumulated other comprehensive loss  1,047,612