Company: SEAH
Filing Date: 2025-08-29
Form Type: DRS/A
Source: 0001213900-25-082696
Chunk: 69

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-08-29
Form: DRS/A
Chunk 69
---
 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, including Mizuho Bank, Japan Finance Corporation, The Chiba Bank, Kiraboshi Bank, The Sugamo Shinkin Bank, and The Tokyo Shinkin Bank. The loans have maturities from 2024 to 2037, with fixed interest rates of 0.13% to 10.0% or tied to Tokyo Interbank Offered Rate (“TIBOR”) plus a spread. Certain loans from Mizuho Bank, The Tokyo Shinkin Bank, and The Chiba Bank are guaranteed by Mr.Shihai Bi, while others have no external guarantors. In addition, the loan from The Chiba Bank maturing in 2037 is secured by a pledge of land. 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 and debt repayment obligations for at least the next 12 months following the date our consolidated financial statements were released. Cash Flows The following table sets forth a summary of our cash flows for the periods indicated.

|                                                                      |     | For the Years