Company: SEAH
Filing Date: 2025-07-24
Form Type: DRS
Source: 0001213900-25-067275
Chunk: 64

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-07-24
Form: DRS
Chunk 64
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87.2%, or US$5.95 million, of the March 31, 2025 accounts receivable balance has been subsequently collected as of the date of this prospectus and the remaining balance is expected to be collected by September 2025. 45

As of March 31, 2025, we had inventory in transit balance of approximately US$5.12 million. The inventory in transit has been fully received by the customer as of the date of this prospectus. Accounts payable amounted to approximately US$7.71 million and approximately US$1.27 million as of March 31, 2025 and 2024, respectively. These accounts payable are related to the purchase of recycling and waste paper, which are critical to our ongoing operations. The management is actively monitoring the payment schedules to ensure timely settlement and maintain strong relationships with our suppliers. Advance from customers amounted to approximately US$3.35 million and approximately US$0.23 million as of March 31, 2025 and 2024, respectively, which will be recognized as revenue when the products are delivered. As of March 31, 2025, we had a current portion of long -termloans of approximately US$0.84 million and long -termloans of approximately US$2.84million. These loans were mainly borrowed from Banks in Japan for working capital purposes. The loans were structured with competitive interest rates and flexible repayment terms, which have been advantageous in managing our liquidity position. The current portion of these loans is due within the next 12 months and is expected to be repaid through our regular operating cash flows. We have a well -definedrepayment plan in place to ensure that these obligations are met promptly and without adversely impacting our financial stability. Our liquidity is based on our ability to generate cash from operating activities, obtain capital financing from equity interest investors and borrow funds from financial institutions. Our future capital requirements depend on many factors, including our growth rate, the continuing market acceptance of our products, the timing and extent of our product development efforts, the expansion of sales and marketing activities, and the expansion and penetration of our business into different geographies and markets. As of March 31, 2025 and 2024, we had positive working capital of approximately US$2.96 million and negative working capital of approximately US$0.12 million, respectively. We believe that our current cash and our anticipated cash flows from operations will be sufficient to meet our anticipated working capital requirements, capital expenditures