| Cash Flow | 2025-09-30 | 2025-06-30 | 2025-03-31 |
|---|---|---|---|
| Allowance for doubtful accounts | - | - | 0 |
| Net loss | -13,691,600 | -4,892,287 | -2,630,729 |
| Depreciation and amortization | 497,765 | 332,568 | 247,692 |
| Share-based compensation | 7,161,133 | 816,750 | 816,750 |
| Income from settlement of convertible notes | 0 | 0 | - |
| Lease expense | 327,142 | 173,672 | - |
| Tax payable write-off | -539,505 | -539,505 | - |
| Accounts receivable | -532,635 | -232,911 | 641,101 |
| Inventory | 1,442,530 | 1,493,296 | 345,338 |
| Right of use assets | - | - | -86,294 |
| Other receivable | -26,580 | -9,269 | -45,729 |
| Prepayments | -309,187 | -94,929 | 80,475 |
| Accounts payable | 21,534 | -177,435 | 1,081,442 |
| Payroll payable | - | 11,996 | -64,435 |
| Accruals and other payables | 2,095,805 | 1,241,030 | 1,200,076 |
| Unearned revenue | 1,716,794 | 886,337 | 0 |
| Accrued interest | -4,510 | -4,510 | -4,510 |
| Operating lease payment | -327,142 | -173,672 | -86,294 |
| Tax payable | -84,804 | -75,084 | -635,568 |
| Due to related party | -444,008 | -273,608 | - |
| Net cash provided by (used in) operating activities | -3,845,524 | -3,829,935 | -1,010,467 |
| Purchase of equipment | 91,609 | 17,515 | - |
| (payments for ) or transfer from construction | - | 767,725 | - |
| Payments for construction | 926,962 | - | 149,042 |
| Proceeds from (repayment) ofbank loan | - | - | 79,276 |
| Net cash (used in) investing activities | -1,018,571 | -785,240 | -149,042 |
| Payment of secured borrowing arrangement | - | - | 0 |
| Settlement of convertible notes | - | 0 | - |
| Issuance of common shares | -19,560,200 | -8,133,000 | -3,332,150 |
| Repayments of bank loan | - | 89,212 | - |
| Stock subscriptionreceivable | -15,020,050 | -3,592,850 | - |
| Amounts received from related parties | 0 | 0 | -263,229 |
| Proceeds from loan payable, non-current | 2,765,888 | - | - |
| Proceeds from bank borrowings | 0 | - | - |
| Repayments of loan payable, current | 3,528,279 | - | - |
| Repayment of secured borrowing arrangement | 0 | - | - |
| Settlement of convertible notes | 0 | - | - |
| Net cash provided by (used in) financing activities | 3,777,759 | 4,450,938 | 3,148,197 |
| Effect of exchange rate change on cash & cash equivalents | 882,055 | 981,112 | -367,548 |
| Net change in cash and cash equivalents | -204,281 | 816,875 | 1,621,140 |
| Cash and cash equivalents at beginning of period | 245,164 | - | - |
| Cash and cash equivalents at end of period | 40,883 | - | - |
Northann Corp. (NCL)
Northann Corp. (NCL)