Company: HYSR
Filing Date: 2025-09-15
Form Type: 10-K
Source: 0001213900-25-087311
Chunk: 84

Company: SUNHYDROGEN, INC.
Filing Date: 2025-09-15
Form: 10-K
Item: Item 1A
Chunk 84
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Item 1A. Risk Factors.

Risks related to our business and industry

Our limited operating history does not afford
investors a sufficient history on which to base an investment decision.

We were formed in February
2009 and are currently developing a new technology that has not yet gained market acceptance. There can be no assurance that we will ever
commercialize our technology, operate profitably or that we will have adequate working capital to meet our obligations as they become
due.

11

Investors must consider the
risks and difficulties frequently encountered by early-stage companies, particularly in rapidly evolving markets. Such risks include the
following:

    ●
    competition;

    ●
    need for acceptance of products;

    ●
    ability to continue to develop and extend brand identity;

    ●
    ability to anticipate and adapt to a competitive market;

    ●
    ability to effectively manage rapidly expanding operations;

    ●
    amount and timing of operating costs and capital expenditures relating to expansion of our business, operations, and infrastructure; and

    ●
    dependence upon key personnel.

We cannot be certain that
our business strategy will be successful or that we will successfully address these risks. In the event that we do not successfully address
these risks, our business, prospects, financial condition, and results of operations could be materially and adversely affected, and we
may have to curtail our business.

We have a history of losses and have never
realized revenues to date. We expect to continue to incur losses and no assurance can be given that we will realize revenues. Accordingly,
we may never achieve and sustain profitability.

As of June 30, 2025, we have
an accumulated deficit of $100,078,550. For the year ended June 30, 2025, we incurred a net loss of $8,226,307. We expect to incur net
losses until we are able to realize revenues to fund our continuing operations. We may fail to achieve any or significant revenues from
sales or achieve or sustain profitability. Accordingly, we may never be profitable or be able to maintain profitability.

We have historically raised
funds through various capital raising transactions. We will require additional funds in the future to fund our business plans, either
through additional equity or debt financings or collaborative agreements or from other sources. We have no commitments to obtain such
additional financing, and we may not be able to obtain any such additional financing on terms favorable to us, or at all. In the event