SunHydrogen Files Q1 2024 10-Q Report
Ticker: HYSR · Form: 10-Q · Filed: May 21, 2024 · CIK: 1481028
| Field | Detail |
|---|---|
| Company | Sunhydrogen, Inc. (HYSR) |
| Form Type | 10-Q |
| Filed Date | May 21, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
Related Tickers: HYSR
TL;DR
SUNHYDROGEN (HYSR) filed its 10-Q for Q1 2024. Check financials.
AI Summary
SunHydrogen, Inc. filed its quarterly report on Form 10-Q for the period ended March 31, 2024. The company, formerly known as Hypersolar, Inc., is incorporated in Nevada and headquartered in Coralville, Iowa. The filing details its financial performance and business operations during the specified quarter.
Why It Matters
This filing provides investors and the public with an update on SunHydrogen's financial health and operational progress for the first quarter of 2024.
Risk Assessment
Risk Level: medium — As a publicly traded company filing quarterly reports, there are inherent risks associated with its financial performance and market position.
Key Players & Entities
- SUNHYDROGEN, INC. (company) — Registrant
- Hypersolar, Inc. (company) — Former company name
- March 31, 2024 (date) — Quarter end date
- 000-54437 (other) — SEC file number
- Nevada (location) — State of incorporation
- Coralville, IA (location) — Principal executive offices
FAQ
What is the SEC file number for SunHydrogen, Inc.'s filing?
The SEC file number for SunHydrogen, Inc. is 000-54437.
What was SunHydrogen, Inc.'s former company name?
SunHydrogen, Inc.'s former company name was Hypersolar, Inc.
In which state is SunHydrogen, Inc. incorporated?
SunHydrogen, Inc. is incorporated in Nevada.
What is the address of SunHydrogen, Inc.'s principal executive offices?
The principal executive offices of SunHydrogen, Inc. are located at BioVentures Center, 2500 Crosspark Road, Coralville, IA 52241.
For what period is this Form 10-Q report?
This Form 10-Q report is for the quarterly period ended March 31, 2024.
Filing Stats: 4,486 words · 18 min read · ~15 pages · Grade level 18.5 · Accepted 2024-05-21 15:32:27
Filing Documents
- ea0206501-10q_sunhydro.htm (10-Q) — 735KB
- ea020650101ex31-1_sunhydro.htm (EX-31.1) — 11KB
- ea020650101ex32-1_sunhydro.htm (EX-32.1) — 4KB
- 0001213900-24-045549.txt ( ) — 5263KB
- hysr-20240331.xsd (EX-101.SCH) — 73KB
- hysr-20240331_cal.xml (EX-101.CAL) — 33KB
- hysr-20240331_def.xml (EX-101.DEF) — 288KB
- hysr-20240331_lab.xml (EX-101.LAB) — 565KB
- hysr-20240331_pre.xml (EX-101.PRE) — 290KB
- ea0206501-10q_sunhydro_htm.xml (XML) — 572KB
Financial Statements
Financial Statements (Unaudited) 1 Condensed Balance Sheets 1 Condensed Statements of Operations 2 Condensed Statements of Shareholders' Equity/(Deficit) 3 Condensed Statements of Cash Flows 4 Notes to the Condensed
Financial Statements
Financial Statements 5 Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3: Quantitative and Qualitative Disclosures About Market Risk 21 Item 4:
Controls and Procedures
Controls and Procedures 21 PART II: OTHER INFORMATION 22 Item 1
Legal Proceedings
Legal Proceedings 22 Item 1A:
Risk Factors
Risk Factors 22 Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3: Defaults Upon Senior Securities 22 Item 4: Mine Safety Disclosures 22 Item 5: Other Information 22 Item 6: Exhibits 22
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. SUNHYDROGEN, INC. CONDENSED BALANCE SHEETS March 31, 2024 June 30, 2023 (Unaudited) ASSETS CURRENT ASSETS Cash and cash equivalent $ 39,215,765 $ 37,185,989 Marketable securities at cost - 3,188,040 Interest receivable 56,921 - Short term investment at fair value, related party 2,976,192 7,655,601 TOTAL CURRENT ASSETS 42,248,878 48,029,630 OTHER ASSETS INVESTMENT Convertible notes receivable, related party 3,000,000 3,000,000 TOTAL INVESTMENTS 3,000,000 3,000,000 PROPERTY & EQUIPMENT Machinery and equipment 33,814 33,814 Computers and peripherals 11,529 11,529 Vehicle 155,000 155,000 200,343 200,343 Less: accumulated depreciation ( 110,592 ) ( 83,468 ) NET PROPERTY AND EQUIPMENT 89,751 116,875 INTANGIBLE ASSETS Domain, net of amortization of $ 5,315 and $ 5,286 , respectively - 29 Trademark, net of amortization of $ 800 and $ 714 , respectively 343 428 Patents, net of amortization of $ 41,268 and $ 36,344 , respectively 59,875 64,799 TOTAL INTANGIBLE ASSETS 60,218 65,256 TOTAL OTHER ASSETS 3,149,969 3,182,131 TOTAL ASSETS $ 45,398,847 $ 51,211,761 LIABILITIES, PREFERRED STOCK SUBJECT TO REDEMPTION AND SHAREHOLDERS' DEFICIT CURRENT LIABILITIES Accounts payable and other payables $ 382,745 $ 232,893 Accrued expenses 56,436 628 Loan payable, related party 55,735 106,728 TOTAL CURRENT LIABILITIES 494,916 340,249 LONG TERM LIABILITIES Loan payable, related party 9,206 36,731 TOTAL LONG TERM LIABILITIES 9,206 36,731 TOTAL LIABILITIES 504,122 376,980 COMMIMENTS AND CONTINGENCIES (SEE NOTE 9) Series C 10 % Preferred Stock, 8,851 and 10,951 shares issued and outstanding, redeemable value of $ 885,100 and $ 1,095,100 , respectively 885,100 1,095,100 SHAREHOLDERS' EQUITY Preferred Stock, $ 0.001 par value; 5,000,000 authorized preferred shares outstanding - - Common Stock, $ 0.001 par value; 10,000,000,0