SunHydrogen Files 2024 Annual Report

TL;DR

SunHydrogen filed its 2024 10-K. Check financials for the year ending June 30.

AI Summary

SunHydrogen, Inc. filed its annual report on Form 10-K for the fiscal year ended June 30, 2024. The company, formerly known as Hypersolar, Inc., is incorporated in Nevada and headquartered in Coralville, Iowa. The filing covers its operations in the semiconductors & related devices industry.

Why It Matters

This 10-K filing provides investors and stakeholders with a comprehensive overview of SunHydrogen's financial performance, business operations, and risk factors for the fiscal year ending June 30, 2024.

Risk Assessment

Risk Level: medium — As a publicly traded company filing a 10-K, there are inherent risks associated with its financial health, market position, and future prospects that require careful evaluation.

Key Numbers

• 000-54437 — SEC File Number (Identifies the company's filings with the SEC.)
• 0001481028 — Central Index Key (Unique identifier for the filer in SEC systems.)

Key Players & Entities

• SUNHYDROGEN, INC. (company) — Registrant
• Hypersolar, Inc. (company) — Former company name
• June 30, 2024 (date) — Fiscal year end
• 20240630 (date) — Conformed period of report
• 2500 Crosspark Road, Coralville, IA 52241 (location) — Principal executive offices address

FAQ

Key Financial Figures

• $0.001 — (g) of the Act: common stock, par value $0.001 per share Indicate by check mark if th
• $2.50 — lectrolyzers do. With a target cost of $2.50/kg., we believe our solution has the po
• $1 — gen generation is projected to become a $1 trillion per year market by 2050 (Sourc
• $369 billion — Inflation Reduction Act, which allotted $369 billion to renewable energy and climate project
• $3 — uded a tax credit that will award up to $3/kg for low carbon hydrogen, with exact
• $1 billion — ts intent to invest up to an additional $1 billion to support the Regional Clean Hydrogen
• $7 billion — Clean Hydrogen Hubs program, an already-$7 billion initiative to create six to ten regiona
• $112 million — company Enova has awarded approximately $112 million in grants to commercialize 15 hydrogen
• $300 million — rop aircraft, and they have raised over $300 million from Amazon, Airbus, and British Airway

Filing Documents

• ea0215762-10k_sunhydro.htm (10-K) — 944KB
• ea021576201ex23-1_sunhydro.htm (EX-23.1) — 2KB
• ea021576201ex31-1_sunhydro.htm (EX-31.1) — 12KB
• ea021576201ex32-1_sunhydro.htm (EX-32.1) — 4KB
• 0001213900-24-083387.txt ( ) — 6390KB
• hysr-20240630.xsd (EX-101.SCH) — 83KB
• hysr-20240630_cal.xml (EX-101.CAL) — 37KB
• hysr-20240630_def.xml (EX-101.DEF) — 347KB
• hysr-20240630_lab.xml (EX-101.LAB) — 662KB
• hysr-20240630_pre.xml (EX-101.PRE) — 359KB
• ea0215762-10k_sunhydro_htm.xml (XML) — 639KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 14 Item 1C. Cybersecurity 14 Item 2.

Properties

Properties 14 Item 3.

Legal Proceedings

Legal Proceedings 14 Item 4. Mine Safety Disclosures 14 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 15 Item 6. [Reserved.] 16 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk. 18 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 18 Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure 18 Item 9A.

Controls and Procedures

Controls and Procedures 19 Item 9B. Other Information. 19 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 19 PART III Item 10. Directors, Executive Officers and Corporate Governance 20 Item 11.

Executive Compensation

Executive Compensation 22 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 23 Item 13. Certain Relationship and Related Transactions, and Director Independence 24 Item 14. Principal Accountant Fees and Services 24 PART IV Item 15. Exhibit and Financial Statement Schedules 25 Item 16 Form 10-K Summary 26

SIGNATURES

SIGNATURES 27 i PART I

Business

Item 1. Business. Unless otherwise stated or the context requires otherwise, references in this annual report on Form 10-K to "SunHydrogen", the "Company", "we", "us", or "our" refer to SunHydrogen, Inc. Overview At SunHydrogen, our goal is to replace fossil fuels with clean, renewable hydrogen. Hydrogen is the most abundant chemical element in the universe. When hydrogen fuel is used to power transportation and industry, the only byproduct left behind is pure water, unlike hydrocarbon fuels such as oil, coal and natural gas that emit carbon dioxide and other harmful pollutants into the atmosphere. However, naturally occurring hydrogen molecules are rare – so rare that today about 95% of all molecular hydrogen is produced from steam reforming of natural gas (Source: US Department of Energy, Hydrogen Fuel Basics). This process is both economically and environmentally unsound. SunHydrogen is developing an efficient and cost-effective way to produce truly green hydrogen using sunlight and any source of water. Our innovative solar hydrogen technology uses abundant and low-cost materials, requires no external power other than sunlight, and is designed with scalability in mind. Its core components include a substrate, photovoltaic layers, and catalysts that integrate to split water molecules into green hydrogen and oxygen. Just like a solar panel is comprised of multiple cells that generate electricity, our hydrogen panel encases multiple hydrogen generators immersed in water. Each hydrogen generator autonomously splits water into hydrogen and oxygen. Our technology has the potential to be one of – if not the most – economical green hydrogen solutions: Unlike traditional water electrolysis for hydrogen, our process requires no external power other than sunlight and uses efficient and low-cost materials. We believe renewable hydrogen has already proven itself to be a key solution in helping the world meet climate targets, and we believe our technology potentially

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View this 10-K filing on SEC EDGAR