SolarWindow Technologies, Inc. Files 10-Q for Period Ending February 29, 2024

TL;DR

<b>SolarWindow Technologies, Inc. has filed its quarterly report (10-Q) for the period ending February 29, 2024.</b>

AI Summary

SolarWindow Technologies, Inc. (WNDW) filed a Quarterly Report (10-Q) with the SEC on April 12, 2024. SolarWindow Technologies, Inc. filed a 10-Q report for the period ending February 29, 2024. The filing covers the second quarter of fiscal year 2024. The company was formerly known as New Energy Technologies, Inc. and Octillion Corp. The fiscal year end for SolarWindow Technologies, Inc. is August 31. The company's business address is 9375 E. Shea Blvd, Suite 107-B, Scottsdale, AZ 85260.

Why It Matters

For investors and stakeholders tracking SolarWindow Technologies, Inc., this filing contains several important signals. This 10-Q filing provides an update on the company's financial performance and operational status for the second quarter of fiscal year 2024. Understanding the details within this report is crucial for investors to assess the company's current financial health and future prospects in the industrial organic chemicals sector.

Risk Assessment

Risk Level: low — SolarWindow Technologies, Inc. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain significant new information that would alter the risk profile.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand the company's performance and outlook.

Key Numbers

• 2024-02-29 — Period End Date (Conformed Period of Report)
• 2024-04-12 — Filing Date (Filed as of Date)
• 0831 — Fiscal Year End (Fiscal Year End)

Key Players & Entities

• SolarWindow Technologies, Inc. (company) — Filer name
• New Energy Technologies, Inc. (company) — Former company name
• Octillion Corp (company) — Former company name
• 2024-02-29 (date) — Period of report
• 2024-04-12 (date) — Filed as of date
• 85260 (location) — Business address zip code
• 800-213-0689 (phone) — Business phone number

FAQ

Industry Context

The company operates within the Industrial Organic Chemicals sector.

Regulatory Implications

The filing is a standard Form 10-Q, a quarterly report required by the Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Analyze the financial statements for the quarter ending February 29, 2024.
2. Review any management discussion and analysis (MD&A) provided in the report.
3. Note the company's former names and fiscal year end for context.

Year-Over-Year Comparison

This is a 10-Q filing, a routine quarterly report. Specific comparative data from a previous filing is not detailed in the provided header information.

Key Financial Figures

• $0 — 8,399 shares of common stock, par value $0.001, were outstanding on April 10, 2024
• $4,900,000 — the six months ended February 29, 2024, $4,900,000 of time deposits matured and $600,000 w
• $600,000 — $4,900,000 of time deposits matured and $600,000 was redeemed. During the three and six
• $264,246 — February 29, 2024, the Company received $264,246 and $270,161, respectively, of earned i
• $270,161 — 2024, the Company received $264,246 and $270,161, respectively, of earned interest on th
• $2,500,000 — e deposits, which consist of a 12-month $2,500,000 fixed-term deposit earning interest of
• $500,000 — it earning interest of 5.2%, a 12-month $500,000 fixed-term deposit earning interest of
• $1,000,000 — earning interest of 4.50% and a 6-month $1,000,000 fixed-term deposit earning interest of
• $510,000 — itional payments of up to approximately $510,000. 8 NOTE 6 – Common Stock and Warrants
• $4.87 — ) 90,000 options with a strike price of $4.87; 2) 1,033,000 options with a strike pri
• $3.54 — ,033,000 options with a strike price of $3.54; and 3) 2,500,000 options with a strike
• $2.60 — ,500,000 options with a strike price of $2.60 (collectively, the "New Grant"). The Ne

Filing Documents

• f10q_041124.htm (10-Q) — 560KB
• exh_311.htm (EX-31.1) — 9KB
• exh_312.htm (EX-31.2) — 9KB
• exh_321.htm (EX-32.1) — 4KB
• 0001171843-24-001989.txt (&nbsp;) — 3443KB
• wndw-20240229.xsd (EX-101.SCH) — 28KB
• wndw-20240229_cal.xml (EX-101.CAL) — 43KB
• wndw-20240229_def.xml (EX-101.DEF) — 100KB
• wndw-20240229_lab.xml (EX-101.LAB) — 228KB
• wndw-20240229_pre.xml (EX-101.PRE) — 188KB
• f10q_041124_htm.xml (XML) — 489KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements 1 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 Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 13

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 18

Controls and Procedures

Item 4. Controls and Procedures 18

OTHER INFORMATION

PART II OTHER INFORMATION

Risk Factors

Item 1A. Risk Factors 18

Exhibits

Item 6. Exhibits 19

Signatures

Signatures 20 Certifications

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements SOLARWINDOW TECHNOLOGIES, INC. CONSOLIDATED BALANCE SHEETS February 29, August 31, 2024 2023 ASSETS (Unaudited) Current assets Cash and cash equivalents $ 1,199,165 $ 492,610 Short-term investments 4,000,000 5,500,000 Deferred research and development costs 89,422 56,698 Prepaid expenses and other current assets 69,941 241,688 Current assets of discontinued operations 13,405 13,522 Total current assets 5,371,933 6,304,498 Property and Equipment, net of accumulated depreciation of $ 131,776 and $ 125,128 , respectively 1,310,583 1,315,282 Total assets $ 6,682,516 $ 7,619,780 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses $ 26,585 $ 114,092 Related party payables 56,506 37,025 Current liabilities of discontinued operations 142,516 136,109 Total current liabilities 225,607 287,226 Total liabilities 225,607 287,226 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 February 29, 2024 and August 31, 2023 53,198 53,198 Additional paid-in capital 83,207,439 82,735,384 Accumulated other comprehensive income (loss) ( 77,456 ) ( 78,159 ) Retained deficit ( 76,726,272 ) ( 75,377,869 ) Total stockholders' equity 6,456,909 7,332,554 Total liabilities and stockholders' equity $ 6,682,516 $ 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 February 29, 2024 Three Months Ended February 28, 2023 Six Months Ended February 29, 2024 Six Months Ended February 28, 2023 Revenue $ - $ - $ - $ - Operat

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, SolarWindow Asia (USA) Corp., and SolarWindow Asia Co. Ltd, 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 accountant and is now in the process of interviewing and retaining special legal 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 February 29, 2024, the Company had $ 5,199,165 of cash, cash equivalents and short-term investments, and working capital of $ 5,146,326 . 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 t

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