SolarWindow Technologies Files 10-Q for Period Ending May 31, 2024

TL;DR

SolarWindow Tech 10-Q filed: Financials & ops update for May 31, 2024. Check for details.

AI Summary

SolarWindow Technologies, Inc. filed its 10-Q for the period ending May 31, 2024. The company reported financial results and provided updates on its business operations. Specific financial figures and operational details for the quarter and year-to-date periods are detailed within the filing.

Why It Matters

This filing provides investors with a quarterly update on SolarWindow Technologies' financial health and operational progress, crucial for understanding the company's performance and future prospects.

Risk Assessment

Risk Level: medium — As a technology company, SolarWindow Technologies likely faces risks related to innovation, market adoption, and competition, which are typical for its sector.

Key Numbers

• 08-31-2024 — Fiscal Year End (Indicates the end of the company's annual reporting cycle.)
• 05-31-2024 — Quarterly Reporting Period End (Marks the end of the period covered by this 10-Q filing.)

Key Players & Entities

• SolarWindow Technologies, Inc. (company) — Filer of the 10-Q report
• May 31, 2024 (date) — End of the reporting period
• August 31, 2024 (date) — Fiscal year end
• NV (state) — State of incorporation
• Scottsdale, AZ (location) — Business and mailing address

FAQ

Key Financial Figures

• $0 — 8,399 shares of common stock, par value $0.001, were outstanding on July 15, 2024.
• $4,900,000 — ing the nine months ended May 31, 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 nine
• $270,161 — y 31, 2024, the Company received $0 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

Filing Documents

• f10q_071224.htm (10-Q) — 616KB
• exh_311.htm (EX-31.1) — 8KB
• exh_312.htm (EX-31.2) — 8KB
• exh_321.htm (EX-32.1) — 4KB
• 0001171843-24-003957.txt ( ) — 3780KB
• wndw-20240531.xsd (EX-101.SCH) — 29KB
• wndw-20240531_cal.xml (EX-101.CAL) — 41KB
• wndw-20240531_def.xml (EX-101.DEF) — 98KB
• wndw-20240531_lab.xml (EX-101.LAB) — 273KB
• wndw-20240531_pre.xml (EX-101.PRE) — 226KB
• f10q_071224_htm.xml (XML) — 561KB

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 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 May 31, August 31, 2024 2023 ASSETS (Unaudited) Current assets Cash and cash equivalents $ 841,098 $ 492,610 Short-term investments 4,000,000 5,500,000 Deferred research and development costs 66,882 56,698 Prepaid expenses and other current assets 700,332 241,668 Current assets of discontinued operations 13,026 13,522 Total current assets 5,621,338 6,304,498 Property and Equipment, net 15,364 1,315,282 Total assets $ 5,636,702 $ 7,619,780 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses $ 133,706 $ 114,092 Related party payables 90,889 37,025 Current liabilities of discontinued operations 134,818 136,109 Total current liabilities 359,413 287,226 Total liabilities 359,413 287,226 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 May 31, 2024 and August 31, 2023 53,198 53,198 Additional paid-in capital 83,487,342 82,735,384 Accumulated other comprehensive income (loss) ( 74,665 ) ( 78,159 ) Retained deficit ( 78,188,586 ) ( 75,377,869 ) Total stockholders' equity 5,277,289 7,332,554 Total liabilities and stockholders' equity $ 5,636,702 $ 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) For the Three Months Ended May 31, For the Nine Months Ended May 31, 2024 2023 2024 2023 Revenue $ – $ – $ – $ – Operating expenses: Selling, general and administrative 693,417 383,227 1,514,241 1,127,313 Research and development 161,891 19

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 a local accountant and is 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 May 31, 2024, the Company had $ 4,841,098 of cash, cash equivalents and short-term investments, and working capital of $ 5,261,925 . 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 th

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