NewHydrogen, Inc. Files 2023 Annual Report on Form 10-K
Ticker: NEWH · Form: 10-K · Filed: Mar 20, 2024 · CIK: 1371128
Sentiment: neutral
Topics: 10-K, Annual Report, NewHydrogen, NEWH, SEC Filing
TL;DR
<b>NewHydrogen, Inc. has filed its 2023 10-K report, detailing its operations and financial status for the fiscal year ending December 31, 2023.</b>
AI Summary
NewHydrogen, Inc. (NEWH) filed a Annual Report (10-K) with the SEC on March 20, 2024. NewHydrogen, Inc. filed its 2023 annual report on Form 10-K on March 20, 2024. The company was formerly known as BioSolar Inc. and changed its name on August 1, 2006. NewHydrogen is incorporated in Nevada. The company's principal business address is 27936 Lost Canyon Road, Suite 202, Santa Clarita, CA 91387. The filing covers the fiscal year ending December 31, 2023.
Why It Matters
For investors and stakeholders tracking NewHydrogen, Inc., this filing contains several important signals. This filing provides a comprehensive overview of NewHydrogen's financial performance, operational activities, and strategic direction for the past fiscal year, which is crucial for investors to assess the company's current standing and future prospects. As a public document, the 10-K filing offers transparency into the company's financial health, risks, and management's outlook, enabling stakeholders to make informed investment decisions.
Risk Assessment
Risk Level: low — NewHydrogen, Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant financial or operational disclosures that would alter the risk profile based on the provided header information alone.
Analyst Insight
Review the full 10-K filing for detailed financial statements, management discussion and analysis, and risk factors to understand NewHydrogen's performance and outlook.
Key Numbers
- 2023-12-31 — Fiscal Year End (Conformed period of report)
- 2024-03-20 — Filing Date (As of date)
- 000-54819 — SEC File Number (SEC file number)
- 0001371128 — Central Index Key (Central index key)
Key Players & Entities
- NewHydrogen, Inc. (company) — Filer name
- NEWH (company) — Ticker symbol
- BioSolar Inc. (company) — Former company name
- 2024-03-20 (date) — Filing date
- 2023-12-31 (date) — Fiscal year end
- NV (jurisdiction) — State of incorporation
- Santa Clarita, CA (location) — Business address city and state
- 1934 Act (regulation) — SEC Act
FAQ
When did NewHydrogen, Inc. file this 10-K?
NewHydrogen, Inc. filed this Annual Report (10-K) with the SEC on March 20, 2024.
What is a 10-K filing?
A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by NewHydrogen, Inc. (NEWH).
Where can I read the original 10-K filing from NewHydrogen, Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by NewHydrogen, Inc..
What are the key takeaways from NewHydrogen, Inc.'s 10-K?
NewHydrogen, Inc. filed this 10-K on March 20, 2024. Key takeaways: NewHydrogen, Inc. filed its 2023 annual report on Form 10-K on March 20, 2024.. The company was formerly known as BioSolar Inc. and changed its name on August 1, 2006.. NewHydrogen is incorporated in Nevada..
Is NewHydrogen, Inc. a risky investment based on this filing?
Based on this 10-K, NewHydrogen, Inc. presents a relatively low-risk profile. The filing is a standard annual report (10-K) and does not contain immediate, significant financial or operational disclosures that would alter the risk profile based on the provided header information alone.
What should investors do after reading NewHydrogen, Inc.'s 10-K?
Review the full 10-K filing for detailed financial statements, management discussion and analysis, and risk factors to understand NewHydrogen's performance and outlook. The overall sentiment from this filing is neutral.
Key Dates
- 2024-03-20: 10-K Filing — Annual report filed for fiscal year 2023
- 2023-12-31: Fiscal Year End — End date of the reporting period
- 2006-08-01: Name Change — Date NewHydrogen, Inc. changed from BioSolar Inc.
Filing Stats: 4,592 words · 18 min read · ~15 pages · Grade level 13 · Accepted 2024-03-20 16:16:03
Key Financial Figures
- $0.0001 — Exchange Act: Common Stock, par value $0.0001 per share Indicate by check mark if t
- $12 — imated to have a future market value of $12 trillion. Industry Overview Hydroge
- $374 million — has an annual market size of more than $374 million in 2021, and is expected to hit $8.7 bi
- $8.7 billion — million in 2021, and is expected to hit $8.7 billion in 2028. Developing cost-competitive Gr
- $15,000 — on-refundable license fee in the sum of $15,000. Pursuant to the terms of the License A
- $2,797,368 — der the Sponsored Research Agreement to $2,797,368; (iv) amend the scope of work under the
Filing Documents
- form10-k.htm (10-K) — 1251KB
- ex23-1.htm (EX-23.1) — 5KB
- ex31-1.htm (EX-31.1) — 16KB
- ex31-2.htm (EX-31.2) — 18KB
- ex32-1.htm (EX-32.1) — 7KB
- ex32-2.htm (EX-32.2) — 7KB
- form10-k_001.jpg (GRAPHIC) — 83KB
- form10-k_002.jpg (GRAPHIC) — 5KB
- 0001493152-24-010662.txt ( ) — 4849KB
- newh-20231231.xsd (EX-101.SCH) — 25KB
- newh-20231231_cal.xml (EX-101.CAL) — 31KB
- newh-20231231_def.xml (EX-101.DEF) — 82KB
- newh-20231231_lab.xml (EX-101.LAB) — 246KB
- newh-20231231_pre.xml (EX-101.PRE) — 184KB
- form10-k_htm.xml (XML) — 724KB
Business
Business 1 Item 1A.
Risk Factors
Risk Factors 7 Item 1B. Unresolved Staff Comments 10 Item 1C. Cybersecurity 10 Item 2.
Properties
Properties 11 Item 3.
Legal Proceedings
Legal Proceedings 11 Item 4. Mine Safety Disclosures 11 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 11 Item 6. [Reserved] 13 Item 7.
Management's Discussion and Analysis or Financial Condition and Results of Operations
Management's Discussion and Analysis or Financial Condition and Results of Operations 13 Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 15 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 15 Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure 15 Item 9A.
Controls and Procedures
Controls and Procedures 15 Item 9B. Other Information 16 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 16 PART III Item 10. Directors, Executive Officers and Corporate Governance 16 Item 11.
Executive Compensation
Executive Compensation 19 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 20 Item 13. Certain Relationship and Related Transactions, and Director Independence 21 Item 14. Principal Accountant Fees and Services 21 PART IV Item 15. Exhibits and Financial Statement Schedules 22 Item 16. Form 10-K Summary 23
SIGNATURES
SIGNATURES 24 i PART I ITEM 1. BUSINESS. Overview We are a developer of clean energy technologies. Our current focus is on developing a green hydrogen production technology that uses water and heat rather than electricity to produce the world's cheapest green hydrogen. Hydrogen is the cleanest and most abundant element in the universe, and we can't live without it. Hydrogen is the key ingredient in making fertilizers needed to grow food for the world. It is also used for transportation, refining oil and making steel, glass, pharmaceuticals and more. Nearly all the hydrogen today is made from hydrocarbons like coal, oil, and natural gas, which are dirty and limited resources. Water, on the other hand, is an infinite and renewable worldwide resource. Currently, the most common method of making green hydrogen is to split water into oxygen and hydrogen with an electrolyzer using green electricity produced from solar or wind. However, green electricity is and always will be very expensive. It currently accounts for 73% of the cost of green hydrogen. By using heat directly, we can skip the expensive process of making electricity, and fundamentally lower the cost of green hydrogen. Inexpensive heat can be obtained from concentrated solar, geothermal, nuclear reactors and industrial waste heat for use in our novel low-cost thermochemical water splitting process. Working with a world class research team at UC Santa Barbara, our goal is to help usher in the green hydrogen economy that Goldman Sachs (in a 2022 report) estimated to have a future market value of $12 trillion. Industry Overview Hydrogen is the most abundant and prevalent clean energy in the universe. 73% of the Sun is made up of hydrogen. On a weight basis, hydrogen (142 MJ/kg) contains 3X as much energy as gasoline (46 MJ/kg), and 200X as much energy as lithium-ion batteries (0.6 MJ/kg). It can be used in fuel cells to power electric vehicles or cities. It can be combusted in gas turb