Company: SEAH
Filing Date: 2025-08-29
Form Type: DRS/A
Source: 0001213900-25-082696
Chunk: 172

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-08-29
Form: DRS/A
Chunk 172
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     |          |         — |   |     |               |   24,482 |   |     |               |    24,482 |   |
| Balance as of March 31, 2025            |     |            8,500 |     | $      | 8,500 |     |            1,500 |     | $      | 1,500 |     | $            | (10,000 | ) |     | $          | 1,043,533 |     | $        | 2,220,848 |   |     | $             | (638,091 | ) |     | $             | 2,626,290 |   |

____________ *The share and per share information are presented on a retrospective basis (see Note 14). The accompanying notes are an integral part of these consolidated financial statements.

F-5

SEAHAWK RECYCLING HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS (In U.S. Dollar, except for share data, or otherwise noted)

| CASH FLOWS FROM OPERATING ACTIVITIES:                                                              |     | For the years ended 
 March 31,           
 2025                |            |   |     | 2024 |            |   |
|:---------------------------------------------------------------------------------------------------|:----|:--------------------|-----------:|:--|:----|:-----|-----------:|:--|
| Net income (loss)                                                                                  |     | $                   |  1,216,978 |   |     | $    |   (302,889 | ) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |     |                     |            |   |     |      |            |   |
| Provision for expected credit losses                                                               |     |                     |    (11,333 | ) |     |      |    325,785 |   |
| Depreciation and amortization                                                                      |     |                     |    116,478 |   |     |      |     68,722 |   |
| Amortization of operating lease right-of-use assets                                                |     |                     |     86,021 |   |     |      |     90,394 |   |
| Impairment of long-term investment                                                                 |     |                     |          — |   |     |      |     41,762 |   |
| Gain on disposal of property