Company: SEAH
Filing Date: 2025-07-24
Form Type: DRS
Source: 0001213900-25-067275
Chunk: 67

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-07-24
Form: DRS
Chunk 67
---
 loans provided by a third party of approximately US$0.55 million, and (3) loans provided by a related party of approximately US$0.45 million. Capital expenditures We incurred capital expenditures of approximately US$0.46 million and approximately US$1.89 million for the years ended March 31, 2025 and 2024, respectively, mainly for purchase of property, plant, equipment, and intangible assets. We expect that our capital expenditures will increase in the foreseeable future as we expand our business and that our level of capital expenditures will be significantly affected by user demand for our products and services. Our future capital requirements may be uncertain, and actual capital requirements may be different from those we anticipate. To the extent that cash flows from our business activities are insufficient to fund future capital requirements, we may need to seek equity or debt financing. We will continue to incur capital expenditures to support the expected growth of our business. 47

Contractual Obligations The following table sets forth our contractual obligations as of March 31, 2025:

|                                             |     | Payments due by schedule 
 Less than                
 1 year                   |         |     | More than 
 1 year    |           |     | Total |           |
|:--------------------------------------------|:----|:-------------------------|--------:|:----|:----------|----------:|:----|:------|----------:|
| Operating leases                            |     | $                        |  68,861 |     | $         |    90,905 |     | $     |   159,766 |
| Long-term bank loans plus accrued interests |     | $                        | 835,370 |     | $         | 2,843,863 |     | $     | 3,679,233 |

Operating lease agreements represented non -cancellableoperating leases for our use of an office in Japan. Other than those shown above, we did not have any other significant capital commitments, purchase commitments, long -termobligations or guarantees as of March 31, 2025. Off-Balance Sheet Commitments and Arrangements We have not entered into any off -balancesheet financial guarantees or other off -balancesheet commitments to guarantee payment obligations of any third party. We have not entered into any derivative contract that is indexed to our shares and classified as shareholder’s equity or that is not reflected in our consolidated financial statements. Furthermore, we do not have any retained or contingent interest in assets transferred to an uncons