Company: HYSR
Filing Date: 2025-09-15
Form Type: 10-K
Source: 0001213900-25-087311
Chunk: 963

Company: SUNHYDROGEN, INC.
Filing Date: 2025-09-15
Form: 10-K
Item: Item 10
Chunk 963
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8,400,000) 
    $(0.094)
  
    Warrants outstanding at June 30, 2024 
     78,095,239  
    $0.121 

Details of our warrants outstanding as of June
30, 2025, is as follows:

  Warrants Exercisable   Weighted Average Contractual Life of Warrants Outstanding and Exercisable (Years)    78,095,239    0.67  

F-15

Details of our warrants outstanding as of June
30, 2024, is as follows:

  Warrants Exercisable   Weighted Average Contractual Life of Warrants Outstanding and Exercisable (Years)    78,095,239    0.67  

7.EQUITY SECURITIES, RELATED PARTY

On November 11, 2022, the Company entered into
a subscription agreement with TECO 2030 ASA (“TECO”). TECO is a Norwegian based clean tech company developing zero-emission
technology for the maritime and heavy industry. They are developing PEM hydrogen fuel cell stacks and PEM hydrogen fuel cell modules,
that enable ships and other heavy-duty applications to become emissions-free. TECO is listed on Euronext Growth on Oslo Stock Exchange
under the ticker TECO. Pursuant to the subscription agreement, the Company purchased 13,443,875 shares of TECO stock for aggregate consideration
of $7 million in USD, at an exchange rate of NOK 10.4094. The shares purchased are adjusted to fair value based on unrealized gain or
loss at the end of each period. At the time of this transaction, the Company and TECO became related parties due to the Company owning
an 8.3% interest in TECO. Subsequent to the equity purchase, Timothy Young, CEO of the Company, was elected to the board of TECO in January
of 2023.

Also, on November 11, 2022 the Company purchased
a bond receivable of TECO for a subscription amount of $3 million. The issuance of the bond receivable is through a Tap Issue Addendum
to TECO’s secured convertible notes agreement dated June 1, 2022, pursuant to which Nordic Trustee AS is acting as the security
agent on behalf of the note holders. The bond receivable would have matured on June 1,