Company: NCL
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001575872-25-000540
Chunk: 1

Company: Northann Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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 stock – Series A, $0.001 par value, 100,000,000 shares authorized 10,000,000 shares issued and outstanding as of June 30, 2025 and December 31, 2024  5,000   5,000 Common stock: $0.001 par value, 400,000,000 shares authorized, 95,464,000 shares issued and outstanding as of June 30, 2025 and 55,464,000 shares issued and outstanding as of December 31, 2024  95,464   55,464 Subscription receivable  (4,967,850)  (1,375,000)Additional paid-in Capital  23,580,165   15,487,165 Accrued compensation expense  (2,110,500)  (2,927,250)Accumulated deficit  (14,586,105)  (9,693,818)Accumulated other comprehensive income  2,363,564   1,047,612 Total stockholders’ deficit  4,379,738   2,599,173 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $16,502,926  $13,875,685 

The accompanying notes are an integral part of these consolidated financial statements.

F-1

NORTHANN CORP.

CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE INCOME (LOSS)

(Unaudited)

(In U.S. dollars)

  Three Months Ended  Six Months Ended   June 30,  June 30,           2025  2024  2025   2024               Revenue $1,706,221  $3,888,893  $5,143,948  $8,484,424 Cost of revenue  2,620,029   2,988,266   5,667,098   6,039,807 Gross Profit  (913,808)  900,627   (523,150)  2,444,617                  Operating Expenses                Selling  243,479   187,062   1,539,587   405,437 General and administrative