Company: NEOV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001683168-25-000834
Chunk: 4

Company: NeoVolta Inc.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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 expense 
     480,089  
     181,858 
  
    Provision for expected credit losses/bad debt expense 
     218,441  
     330,000 
  
    Changes in current assets and liabilities 

    Accounts receivable 
     (68,575) 
     (689,426)
  
    Inventory 
     (245,950) 
     598,738 
  
    Prepaid insurance and other current assets 
     76,815  
     87,814 
  
    Accounts payable 
     33,149  
     – 
  
    Accrued expenses 
     (9,668) 
     (27,722)
  
    Net cash flows used in operating activities 
     (1,451,330) 
     (503,497)

    Cash flows from financing activities: 

    Borrowings under line of credit 
     500,000  
     – 
  
    Repayments of line of credit 
     (116,462) 
     – 
  
    Borrowings under short-term notes payable 
     389,732  
     – 
  
    Repayments of short-term notes payable 
     (140,021) 
     – 
  
    Proceeds from exercise of common stock warrants 
     160,400  
     – 
  
    Net cash flows provided by financing activities 
     793,649  
     – 

    Net decrease in cash and cash equivalents 
     (657,681) 
     (503,497)

    Cash and cash equivalents at beginning of period 
     986,427  
     2,002,789 

    Cash and cash equivalents at end of period 
    $328,746  
    $1,499,292 

    Supplemental disclosures of cash flow information 

    Cash paid for interest 
    $9,306  
    $– 
  
    Cash paid for income taxes 
     –  
     – 

See accompanying notes to unaudited financial statements.

 8 

NEOVOLTA, INC.

Notes to Financial Statements

(Unaudited)

(1) Business
and Summary of Significant Accounting Policies

Description of Business
– NeoVolta Inc. (“we”, “our” or the “Company”) is a Nevada corporation, which was formed on March
5,