For the quarter ending 2026-03-31, NCL has $30,790,621 in assets. $12,340,699 in debts. $239,641 in cash and cash equivalents.
| Balance Sheets | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Cash and cash equivalents | 239,641 | 1,030,612 | 40,883 | 1,062,038 |
| Accounts receivable, net | 3,850,848 | 3,512,715 | 2,456,698 | 2,755,263 |
| Inventory | 6,065,681 | 6,185,698 | 3,478,390 | 3,519,140 |
| Prepaid expense | 708,545 | 573,094 | 526,201 | 738,442 |
| Other receivables and other current assets | 28,242 | 50,075 | 49,925 | 67,020 |
| Tax recoverable | 18,136 | - | 22,631 | - |
| Due from related party | 1,643,288 | 985,018 | - | - |
| Total current assets | 12,554,381 | 12,337,212 | 6,574,728 | 8,141,903 |
| Property, plant and equipment, net | 3,404,651 | 3,507,401 | 3,596,214 | 3,659,631 |
| Construction in progress | 2,364,488 | 2,127,295 | 2,230,705 | 2,059,807 |
| Intangible assets, net | 11,085,329 | 994,928 | 983,920 | 983,961 |
| Operating lease right-of-use assets, net | 1,372,742 | 1,466,512 | 1,559,121 | 1,648,594 |
| Security deposits | 9,030 | 9,030 | 9,030 | 9,030 |
| Total assets | 30,790,621 | 20,442,378 | 14,953,718 | 16,502,926 |
| Tax payable | - | - | 0 | -13,034 |
| Bank borrowings, current | - | - | - | 1,996,203 |
| Due to related party | - | 0 | 689,172 | 863,083 |
| Accounts and other payables and accruals | 5,970,838 | 4,322,020 | 5,062,684 | 4,006,142 |
| Unearned revenue | 674,690 | 1,349,672 | 1,594,981 | 764,523 |
| Operating lease liabilities, current | 373,584 | 374,585 | 375,573 | 370,800 |
| Loan payable, current | 1,318,477 | 1,302,745 | 1,279,857 | - |
| Tax payable | 0 | 22,538 | - | - |
| Total current liabilities | 8,337,589 | 7,371,560 | 9,002,267 | 7,987,717 |
| Operating lease liabilities, non-current | 999,157 | 1,091,927 | 1,183,547 | 1,277,794 |
| Bank borrowings, non-current | - | - | - | 2,857,677 |
| Loan payable, non-current | 3,003,953 | 2,968,709 | 2,923,281 | - |
| Total liabilities | 12,340,699 | 11,432,196 | 13,109,095 | 12,123,188 |
| Preferred stock-Series APreferred Stock | 625 | 625 | 5,000 | 5,000 |
| Preferred stock-Undesignated | 0 | 0 | 0 | - |
| Common stock 0.001 par value, 400,000,000 shares authorized, 53,733,083 shares issued and outstanding as of march 31, 2026 and 22,933,083 shares issued and outstanding as of december 31, 2025 | 53,733 | 22,933 | 179,798 | 95,464 |
| Subscription receivable | 11,879,902 | 12,706,602 | 16,395,050 | 4,967,850 |
| Additional paid-in capital | 53,137,586 | 41,709,686 | 41,267,415 | 23,580,165 |
| Accrued compensation expense | - | 0 | 2,110,500 | 2,110,500 |
| Accumulated deficit | -24,263,124 | -21,367,799 | -23,385,418 | -14,586,105 |
| Accumulated other comprehensive income | 1,401,004 | 1,351,339 | 2,283,378 | 2,363,564 |
| Total stockholders' equity | 18,449,922 | 9,010,182 | 1,844,623 | 4,379,738 |
| Total liabilities and stockholders' equity | 30,790,621 | 20,442,378 | 14,953,718 | 16,502,926 |
Northann Corp. (NCL)
Northann Corp. (NCL)