NewHydrogen's Losses Widen Amid Zero Revenue, Cash Dwindles

TL;DR

**NewHydrogen is burning cash with no revenue in sight, making it a high-risk bet on future green hydrogen tech.**

AI Summary

NewHydrogen, Inc. (NEWH) reported no revenue for the three and six months ended June 30, 2025, consistent with the prior year periods, indicating its continued development stage. The company experienced a net loss of $1,099,798 for the six months ended June 30, 2025, an increase from the $909,746 net loss in the same period of 2024. Operating expenses rose to $1,100,103 for the six months ended June 30, 2025, up from $910,380 in the prior year, driven by increases in selling and marketing expenses (from $145,200 to $200,571), general and administrative expenses (from $585,248 to $648,506), and research and development (from $177,878 to $249,385). Cash decreased significantly from $2,104,521 at December 31, 2024, to $1,100,906 at June 30, 2025, primarily due to net cash used in operating activities totaling $1,003,615. The company's accumulated deficit grew to $179,042,345 as of June 30, 2025, from $177,942,547 at December 31, 2024, highlighting ongoing financial challenges and a going concern risk. Management believes current funding from convertible note agreements and prospective investors will sustain operations for the next six months, but no assurance is given for future financing availability or terms.

Why It Matters

NewHydrogen's continued lack of revenue and increasing net losses, reaching $1,099,798 for the first half of 2025, signal significant operational challenges for investors. The substantial decline in cash from $2.1 million to $1.1 million in six months raises immediate liquidity concerns, placing the company in a precarious competitive position within the capital-intensive green hydrogen sector. Employees face uncertainty given the going concern warning, while customers and the broader market will see little impact from a company still in the development stage with no products generating sales. Without a clear path to revenue or substantial new financing, NEWH risks falling further behind larger, better-funded competitors.

Risk Assessment

Risk Level: high — NewHydrogen faces a high risk level due to its 'going concern' warning, an accumulated deficit of $179,042,345 as of June 30, 2025, and zero revenue generation. The company's cash balance decreased by $1,003,615 in six months, leaving only $1,100,906, which management estimates will cover only six months of operating expenses, indicating severe liquidity constraints.

Analyst Insight

Investors should avoid NewHydrogen (NEWH) given its 'going concern' warning, zero revenue, and increasing losses. The company's reliance on future financing without a clear path to profitability makes it a speculative investment with significant downside risk.

Financial Highlights

debt To Equity

N/A

revenue

$0

operating Margin

N/A

total Assets

N/A

total Debt

N/A

net Income

$(1,099,798)

eps

N/A

gross Margin

N/A

cash Position

$1,100,906

revenue Growth

0.0%

Revenue Breakdown

Key Numbers

• $0 — Revenue (No revenue generated for the six months ended June 30, 2025, consistent with prior periods.)
• $(1,099,798) — Net Loss (Increased from $(909,746) in the prior year, indicating widening losses.)
• $1,100,906 — Cash Balance (Decreased significantly from $2,104,521 at December 31, 2024, highlighting liquidity concerns.)
• $(179,042,345) — Accumulated Deficit (Grew from $(177,942,547), underscoring ongoing financial challenges.)
• $1,003,615 — Net Cash Used in Operating Activities (Represents the cash burn for the six months ended June 30, 2025.)
• 717,020,010 — Common Shares Outstanding (As of August 12, 2025, indicating a large share count.)
• $249,385 — Research and Development Expenses (Increased from $177,878 in the prior year, showing continued investment in development.)
• 6 months — Cash Runway (Management estimates current cash will cover operating expenses for only six months.)
• $3,446,113 — Series C Convertible Preferred Stock (Redeemable value as of June 30, 2025, representing a significant liability.)
• $116,527 — Non-cash stock compensation expense (For the six months ended June 30, 2025, impacting net loss but not cash.)

Key Players & Entities

• NewHydrogen, Inc. (company) — registrant
• SEC (regulator) — Securities and Exchange Commission
• $1,099,798 (dollar_amount) — net loss for six months ended June 30, 2025
• $909,746 (dollar_amount) — net loss for six months ended June 30, 2024
• $1,100,906 (dollar_amount) — cash balance as of June 30, 2025
• $2,104,521 (dollar_amount) — cash balance as of December 31, 2024
• $179,042,345 (dollar_amount) — accumulated deficit as of June 30, 2025
• $1,003,615 (dollar_amount) — net cash used in operating activities for six months ended June 30, 2025
• FDIC (regulator) — Federal Deposit Insurance Company
• $850,906 (dollar_amount) — cash balance in excess of FDIC limits as of June 30, 2025

FAQ

Risk Factors

• Going Concern Uncertainty [high — financial]: The company has a significant accumulated deficit of $179,042,345 as of June 30, 2025, and incurred a net loss of $1,099,798 for the six months ended June 30, 2025. Management believes current funding will sustain operations for the next six months, but there is no assurance of future financing availability or satisfactory terms.
• Increasing Operating Expenses [medium — financial]: Operating expenses rose to $1,100,103 for the six months ended June 30, 2025, up from $910,380 in the prior year. This increase was driven by higher selling and marketing, general and administrative, and research and development costs.
• Declining Cash Position [high — financial]: The company's cash balance decreased significantly from $2,104,521 at December 31, 2024, to $1,100,906 at June 30, 2025, primarily due to $1,003,615 in net cash used in operating activities.
• Dilution Risk from Financing [medium — financial]: Future financing, whether debt or equity, may contain undue restrictions on operations or cause substantial dilution for stockholders, impacting the value of existing shares.
• Development Stage Operations [high — operational]: The company reported no revenue for the six months ended June 30, 2025, consistent with prior periods. This indicates the company is still in its development phase and has not yet achieved commercial viability.

Industry Context

NewHydrogen is operating in the hydrogen production sector, a field with significant growth potential driven by decarbonization efforts. However, it faces intense competition from established energy companies and numerous startups also vying for market share and technological advancements in green hydrogen production.

Regulatory Implications

As a company in the energy sector, NewHydrogen may be subject to evolving environmental regulations and government incentives related to clean energy technologies. Compliance with these regulations and the ability to secure government support will be critical for its development and commercialization efforts.

What Investors Should Do

1. Monitor Future Financing Rounds
2. Evaluate R&D Progress
3. Assess Cash Burn Rate

Key Dates

• 2025-06-30: End of Reporting Period — Reflects the financial position and results of operations for the six months ended on this date, showing increased losses and reduced cash.
• 2024-12-31: Prior Fiscal Year End — Provides a baseline for comparison, showing a higher cash balance of $2,104,521 before the recent decline.

Glossary

Accumulated Deficit

The total net losses of a company since its inception, minus any net gains. It represents a negative retained earnings balance. (Highlights the company's long-term unprofitability, with a deficit of $179,042,345 as of June 30, 2025.)

Going Concern

An accounting assumption that a business will continue to operate for the foreseeable future. If there is substantial doubt, it must be disclosed. (Management's belief that current funding will last six months indicates substantial doubt, posing a significant risk to investors.)

Convertible Note Agreements

Debt instruments that can be converted into equity (stock) of the issuing company under certain conditions. (These agreements are a source of current funding for NewHydrogen, but their conversion terms can lead to future dilution for shareholders.)

Non-cash stock compensation expense

The cost of employee stock options and awards that does not involve an outflow of cash in the current period. (This expense of $116,527 for the six months ended June 30, 2025, contributed to the net loss but did not impact the cash burn.)

Year-Over-Year Comparison

Compared to the prior year's six-month period, NewHydrogen (NEWH) has seen its net loss widen from $909,746 to $1,099,798, and its operating expenses increase from $910,380 to $1,100,103. The cash position has deteriorated significantly, falling from $2,104,521 at year-end 2024 to $1,100,906 as of June 30, 2025. While R&D expenses have increased, indicating continued investment, the lack of revenue and growing deficit highlight persistent financial challenges.

Key Financial Figures

• $100,000 — t value of the Company's shares exceeds $100,000 per day over any 20 consecutive trade d
• $200,000 — et value of the Company's shares exceed $200,000 per day over any 20 consecutive trade d
• $5,000,000 — on the current market cap of less than $5,000,000 and average trading stock volume of les
• $5,000 — erage trading stock volume of less than $5,000 per day . As of June 30, 2025, 100,000,

Filing Documents

• form10-q.htm (10-Q) — 710KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• 0001641172-25-023511.txt ( ) — 4349KB
• newh-20250630.xsd (EX-101.SCH) — 28KB
• newh-20250630_cal.xml (EX-101.CAL) — 38KB
• newh-20250630_def.xml (EX-101.DEF) — 108KB
• newh-20250630_lab.xml (EX-101.LAB) — 300KB
• newh-20250630_pre.xml (EX-101.PRE) — 240KB
• form10-q_htm.xml (XML) — 667KB

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION ITEM 1

FINANCIAL STATEMENTS (Unaudited)

FINANCIAL STATEMENTS (Unaudited) 1 Condensed Balance Sheets 1 Condensed Statements of Operations 2 Condensed Statement of Shareholders' Deficit 3 Condensed Statements of Cash Flows 4 Notes to the Condensed Financial Statements 5 ITEM 2

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 15 ITEM 3

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 18 ITEM 4

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 19

: OTHER INFORMATION

PART II: OTHER INFORMATION ITEM 1

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 19 ITEM 1A

RISK FACTORS

RISK FACTORS 19 ITEM 2 UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 19 ITEM 3 DEFAULTS UPON SENIOR SECURITIES 19 ITEM 4 MINE SAFETY DISCLOSURES 19 ITEM 5 OTHER INFORMATION 19 ITEM 6 EXHIBITS 20

SIGNATURES

SIGNATURES 21 i PART I – FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS NEWHYDROGEN, INC. CONDENSED BALANCE SHEETS Six Months Ended Year Ended June 30, 2025 December 31, 2024 (Unaudited) ASSETS CURRENT ASSETS Cash $ 1,100,906 $ 2,104,521 Prepaid expenses, other 32,097 5,761 Deferred offering cost 30,000 - TOTAL CURRENT ASSETS 1,163,003 2,110,282 PROPERTY AND EQUIPMENT Machinery and equipment 37,225 37,225 Less accumulated depreciation ( 36,856 ) ( 36,727 ) NET PROPERTY AND EQUIPMENT 369 498 OTHER ASSETS Patents, net of amortization of $ 28,713 and $ 24,935 respectively 16,623 18,135 Deposit 770 770 TOTAL OTHER ASSETS 17,393 18,905 TOTAL ASSETS $ 1,180,765 $ 2,129,685 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable and other payable $ 12,326 $ 7,975 TOTAL CURRENT LIABILITIES 12,326 7,975 COMMITMENTS AND CONTINGENCIES (See Note 9) - - Series C Convertible Preferred Stock, 34,461 and 34,853 shares outstanding, respectively, redeemable value of $ 3,446,113 and $ 3,485,313 , respectively 3,446,113 3,485,313 SHAREHOLDERS' EQUITY (DEFICIT) Preferred stock, $ 0.0001 par value; 10,000,000 authorized shares - - Common stock, $ 0.0001 par value; 3,000,000,000 authorized shares 705,403,048 and 704,599,512 shares issued and outstanding, respectively 70,540 70,460 Additional paid in capital 176,694,131 176,508,484 Accumulated deficit ( 179,042,345 ) ( 177,942,547 ) TOTAL SHAREHOLDERS' EQUITY (DEFICIT) ( 2,277,674 ) ( 1,363,603 ) TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,180,765 $ 2,129,685 The accompanying notes are an integral part of these unaudited condensed financial statements. 1 NEWHYDROGEN, INC. Condensed (Unaudited) June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Three Months Ended Six Months Ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 REVENUE $ -

NOTES TO FINANCIAL STATEMENTS – UNAUDITED

NOTES TO FINANCIAL STATEMENTS – UNAUDITED FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024 1. Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all normal recurring adjustments considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2025, are not necessarily indicative of the results that may be expected for the year ending December 31, 2025. For further information refer to the financial statements and footnotes thereto included in the Company's Form 10-K for December 31, 2024. Going Concern The accompanying financial statements have been prepared in conformity with U.S. GAAP, which contemplates continuation of the Company as a going concern and the realization of assets and satisfaction of liabilities in the normal course of business. The carrying amounts of assets and liabilities presented in the financial statements do not necessarily purport to represent realizable or settlement values. The financial statements do not include any adjustment that might result from the outcome of this uncertainty. The ability of the Company to continue as a going concern and appropriateness of using the going concern basis is dependent upon, among other things, achieving a level of profitable operations and receiving additional cash infusions. During the six months ended June 30, 2025, the Company obtained funds from the issuance of convertible note agreements. Management believes this funding will continue from its' current investors and from new investors. Management believes the

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View this 10-Q filing on SEC EDGAR