For the quarter ending 2025-09-30, NCL has $14,953,718 in assets. $13,109,095 in debts. $40,883 in cash and cash equivalents.
| Balance Sheets | 2025-09-30 | 2025-06-30 | 2025-03-31 | |
|---|---|---|---|---|
| Cash | - | - | 1,866,303 | |
| Cash and cash equivalents | 40,883 | 1,062,038 | - | |
| Accounts receivable, net | 2,456,698 | 2,755,263 | 3,747,662 | |
| Inventory | 3,478,390 | 3,519,140 | 2,340,949 | |
| Prepaid expense | 526,201 | 738,442 | 571,423 | |
| Other receivables and other current assets | 49,925 | 67,020 | 29,255 | |
| Tax recoverable | 22,631 | - | - | |
| Total current assets | 6,574,728 | 8,141,903 | 8,555,592 | |
| Land use rights, net | - | - | 987,975 | |
| Property, plant and equipment, net | 3,596,214 | 3,659,631 | 3,797,906 | |
| Construction in progress | 2,230,705 | 2,059,807 | 1,407,743 | |
| Intangible assets, net | 983,920 | 983,961 | - | |
| Operating lease right-of-use assets, net | 1,559,121 | 1,648,594 | 1,735,972 | |
| Total non-current assets | - | - | 7,938,626 | |
| Security deposits | 9,030 | 9,030 | 9,030 | |
| Total assets | 14,953,718 | 16,502,926 | 16,494,218 | |
| Bank borrowings, current | - | 1,996,203 | 4,778,357 | |
| Accounts and other payables and accruals | 5,062,684 | 4,006,142 | 4,813,041 | |
| Unearned revenue | 1,594,981 | 764,523 | - | |
| Operating lease liabilities, current | 375,573 | 370,800 | 363,230 | |
| Loan payable, current | 1,279,857 | - | - | |
| Tax payable | 0 | -13,034 | -34,251 | |
| Due to related party | 689,172 | 863,083 | 1,153,203 | |
| Total current liabilities | 9,002,267 | 7,987,717 | 11,073,580 | |
| Operating lease liabilities, non-current | 1,183,547 | 1,277,794 | 1,372,742 | |
| Bank borrowings, non-current | - | 2,857,677 | 136,947 | |
| Total non-current liabilities | - | - | 1,509,689 | |
| Loan payable, non-current | 2,923,281 | - | - | |
| Total liabilities | 13,109,095 | 12,123,188 | 12,583,269 | |
| Preferred stock-Series APreferred Stock | 5,000 | 5,000 | 5,000 | |
| Preferred stock-Undesignated | 0 | - | - | |
| Common stock 0.001 par value, 400,000,000 shares authorized,179,797,995 shares issued and outstanding as of september 30, 2025 and 55,464,000 shares issued and outstanding as of december 31, 2024 | 179,798 | 95,464 | 95,464 | |
| Subscription receivable | 16,395,050 | 4,967,850 | 6,175,850 | |
| Additional paid-in capital | 41,267,415 | 23,580,165 | 23,580,165 | |
| Accrued compensation expense | 2,110,500 | 2,110,500 | 2,110,500 | |
| Accumulated deficit | -23,385,418 | -14,586,105 | -12,324,547 | |
| Accumulated other comprehensive income | 2,283,378 | 2,363,564 | 841,217 | |
| Total stockholders' deficit | 1,844,623 | 4,379,738 | 3,910,949 | |
| Total liabilities and stockholders' equity | 14,953,718 | 16,502,926 | 16,494,218 | |
Northann Corp. (NCL)
Northann Corp. (NCL)