SolarWindow Technologies, Inc. Files 10-Q for Period Ending November 30, 2023

TL;DR

<b>SolarWindow Technologies, Inc. filed its quarterly report (10-Q) for the period ending November 30, 2023, detailing financial data and company history.</b>

AI Summary

SolarWindow Technologies, Inc. (WNDW) filed a Quarterly Report (10-Q) with the SEC on January 12, 2024. Filing is a 10-Q for SolarWindow Technologies, Inc. for the period ending November 30, 2023. The company was formerly known as NEW ENERGY TECHNOLOGIES, INC. and OCTILLION CORP. The filing includes data related to common stock, additional paid-in capital, accumulated other comprehensive income, and retained earnings for fiscal years 2022 and 2023. Information on stock options and warrants is provided for the periods September 1, 2023 - November 30, 2023, and September 1, 2022 - November 30, 2022. Details on office equipment, general equipment, and in-process equipment are included as of November 30, 2023, and August 31, 2023.

Why It Matters

For investors and stakeholders tracking SolarWindow Technologies, Inc., this filing contains several important signals. This filing provides a snapshot of SolarWindow Technologies' financial position and equity structure as of November 30, 2023, which is crucial for investors to assess the company's stability and performance. The inclusion of historical company names and the detailed breakdown of equity components offer context for understanding the company's evolution and financial reporting.

Risk Assessment

Risk Level: low — SolarWindow Technologies, Inc. shows low risk based on this filing. The filing is a standard 10-Q report, which typically contains routine financial disclosures and does not indicate any immediate or significant risks.

Analyst Insight

Review the detailed financial statements and equity breakdowns in the 10-Q to understand SolarWindow Technologies' current financial health and capital structure.

Key Numbers

• 2023-11-30 — Period End Date (Conformed period of report)
• 2024-01-12 — Filing Date (Filed as of date)
• 2023-09-01 — Quarter Start Date (First day of the reporting quarter)
• 2022-09-01 — Prior Year Quarter Start Date (First day of the comparative prior year quarter)

Key Players & Entities

• SolarWindow Technologies, Inc. (company) — Filer name
• NEW ENERGY TECHNOLOGIES, INC. (company) — Former company name
• OCTILLION CORP (company) — Former company name
• 2023-11-30 (date) — Period of report
• 2024-01-12 (date) — Filing date
• NV (jurisdiction) — State of incorporation
• AZ (state) — Business address state
• 85260 (zip_code) — Business address zip

FAQ

Industry Context

SolarWindow Technologies operates in the industrial organic chemicals sector, though its specific business activities are not detailed in this header information.

Regulatory Implications

This filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the balance sheet for detailed figures on assets, liabilities, and equity as of November 30, 2023.
2. Examine the statement of cash flows to understand the company's cash generation and usage during the reporting period.
3. Review the notes to the financial statements for any significant accounting policies or disclosures.

Year-Over-Year Comparison

This is the first 10-Q filing analyzed for the fiscal year ending August 31, 2024, covering the first fiscal quarter.

Key Financial Figures

• $0 — 8,399 shares of common stock, par value $0.001, were outstanding on January 10, 20
• $4,000,000 — -term investments consist of a 12-month $4,000,000 fixed-term deposit earning interest of
• $1,300,000 — arning interest of 5.3%, and a 12-month $1,300,000 fixed term deposit earning interest of
• $200,000 — 5% purchased in February 2023 and which $200,000 was redeemed during the three months en
• $510,000 — itional payments of up to approximately $510,000. NOTE 6 – Common Stock and Warrants
• $175,000 — ter which provides for an annual fee of $175,000 in exchange for general counsel service

Filing Documents

• f10q_011024.htm (10-Q) — 424KB
• exh_311.htm (EX-31.1) — 9KB
• exh_312.htm (EX-31.2) — 9KB
• exh_321.htm (EX-32.1) — 5KB
• 0001171843-24-000236.txt (&nbsp;) — 2883KB
• wndw-20231130.xsd (EX-101.SCH) — 26KB
• wndw-20231130_cal.xml (EX-101.CAL) — 41KB
• wndw-20231130_def.xml (EX-101.DEF) — 72KB
• wndw-20231130_lab.xml (EX-101.LAB) — 201KB
• wndw-20231130_pre.xml (EX-101.PRE) — 161KB
• f10q_011024_htm.xml (XML) — 364KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements Consolidated Balance Sheets 1 Consolidated Statements of Operations and Comprehensive Loss 2 Consolidated Statements of Stockholders' Equity 3 Consolidated Statements of Cash Flows 4

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 5

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 11

Quantitative and Qualitative Disclosures About Market

Item 3. Quantitative and Qualitative Disclosures About Market Risk 15

Controls and Procedures

Item 4. Controls and Procedures 15

OTHER INFORMATION

PART II OTHER INFORMATION

Risk Factors

Item 1A. Risk Factors 16

Exhibits

Item 6. Exhibits 16

Signatures

Signatures 17 Certifications

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements SOLARWINDOW TECHNOLOGIES, INC. CONSOLIDATED BALANCE SHEETS November 30, August 31, 2023 2023 ASSETS (Unaudited) Current assets Cash and cash equivalents $ 135,020 $ 492,610 Short-term investments 5,300,000 5,500,000 Deferred research and development costs 103,633 56,698 Prepaid expenses and other current assets 320,319 241,688 Current assets of discontinued operations 13,775 13,522 Total current assets 5,872,746 6,304,498 Property and Equipment, net of accumulated depreciation of $ 128,721 and $ 125,127 , respectively 1,311,688 1,315,282 Total assets $ 7,184,434 $ 7,619,780 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses $ 167,336 $ 114,092 Related party payables 24,583 37,025 Current liabilities of discontinued operations 139,646 136,109 Total current liabilities 331,565 287,226 Total liabilities 331,565 287,226 Commitments and contingencies - - Stockholders' equity Preferred stock: $ 0.10 par value; 1,000,000 shares authorized, no shares issued and outstanding - - Common stock: $ 0.001 par value; 300,000,000 shares authorized, 53,198,399 shares issued and outstanding at November 30, 2023 and August 31, 2023 53,198 53,198 Additional paid-in capital 82,758,599 82,735,384 Accumulated other comprehensive income (loss) ( 79,687 ) ( 78,159 ) Retained deficit ( 75,879,241 ) ( 75,377,869 ) Total stockholders' equity 6,852,869 7,332,554 Total liabilities and stockholders' equity $ 7,184,434 $ 7,619,780 (The accompanying notes are an integral part of these consolidated financial statements) 1 SOLARWINDOW TECHNOLOGIES, INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) Three Months Ended November 30, 2023 2022 Revenue $ - $ - Operating expenses Selling, general and administrative 451,501 384,484 Research and development 116,696 216

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 1 – Organization Organization SolarWindow Technologies, Inc. was incorporated in the State of Nevada on May 5, 1998 (" SWT " and together with its controlled subsidiary companies, collectively, the " Company "). SolarWindow technology harvests light energy from the sun and from artificial light sources using a transparent and ultra-lightweight coating of organic photovoltaic (" OPV ") solar cells applied to glass and plastics, thereby generating electricity. The Company's ticker symbol is WNDW. On August 24, 2020, SolarWindow Technologies, Inc. formed wholly owned SolarWindow Asia (USA) Corp., a Nevada Corporation, as the holding company for SolarWindow Asia Co. Ltd., (the " Korean Subsidiary ") a company formed in the Republic of Korea for the purpose of expansion into the Asian markets. On January 13, 2023, the Board formally elected to dissolve the Korean Subsidiary. SWT has retained accountants and counsel in South Korea to assist in the dissolution of the Korean Subsidiary. Liquidity The Company has not generated any revenue since inception and has sustained recurring losses and negative cash flows from operations since inception. We expect to incur losses as we continue to develop and further refine and promote our technologies and potential product applications. As of November 30, 2023, the Company had $ 5,435,020 of cash, cash equivalents and short-term investments on hand, and working capital of $ 5,541,181 . The Company believes that it currently has sufficient cash to meet its funding requirements over the next twelve months following the issuance of this Annual Report on Form 10-K. However, the Company has experienced and continues to experience negative cash flows from operations, as well as an ongoing requirement for additional capital investment. The Company expects that it may need to raise additional capital to commercialize its electricity generating coatings and application meth

Forward-Looking Statements

Forward-Looking Statements This Report on Form 10-Q contains forward-looking statements which involve assumptions and describe our future plans, strategies, and expectations, and are generally identifiable by use of words such as "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," or "project," or the negative of these words or other variations on these wo

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View this 10-Q filing on SEC EDGAR