Company: SEAH
Filing Date: 2025-07-24
Form Type: DRS
Source: 0001213900-25-067275
Chunk: 185

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-07-24
Form: DRS
Chunk 185
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 any write -downsare necessary for potential obsolescence, expiration of shelf life, or if the carrying value exceeds net realizable value. The Group did not record any inventory write -downsfor the years ended March 31, 2025 and 2024.

F-20

SEAHAWK RECYCLING HOLDINGS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (In U.S. Dollar, except for share data) 5.PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET Prepaid expenses and other current assets, net consisted of the following:

|                                                |     | As of March 31, |    2025 |   |     |   |    2024 |   |
|:-----------------------------------------------|:----|:----------------|--------:|:--|:----|:--|--------:|:--|
| Prepaid consumption tax                        |     | $               | 557,852 |   |     | $ | 502,611 |   |
| Prepaid insurance fee(1)                       |     |                 | 137,158 |   |     |   | 138,794 |   |
| Prepaid brokerage fee(2)                       |     |                 |       — |   |     |   |  96,103 |   |
| Receivables from a third party(3)              |     |                 |       — |   |     |   |  66,129 |   |
| Others                                         |     |                 |   9,182 |   |     |   |   9,044 |   |
| Subtotal                                       |     |                 | 704,192 |   |     |   | 812,681 |   |
| Allowance for expected credit losses           |     |                 |  (8,452 | ) |     |   |  (8,378 | ) |
| Prepaid expenses and other current assets, net |     | $               | 695,740 |   |     | $ | 804,303 |   |

____________ (1)Prepaid insurance fee represents the life insurance the Group bought for the employees and heads of departments of the Group. (2)As of March 31, 2024, the Group had prepaid a brokerage fee of US$96,103 related to the sale of its property located in Tokyo, Japan, in the year ended March 31, 2025. This amount