Company: NEOV
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001683168-25-007304
Chunk: 413

Company: NeoVolta Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 7
Chunk 413
---
 
  
    Operating lease obligation 
     (80,570) 
     – 
  
    Net cash flows used in operating activities 
     (4,425,752) 
     (1,016,362)

    Cash flows from financing activities: 

    Proceeds of private equity offering 
     1,087,000  
     – 
  
    Borrowings under line of credit 
     500,000  
     – 
  
    Repayments of line of credit 
     (116,462) 
     – 
  
    Borrowings under short-term nots payable 
     5,106,343  
     – 
  
    Repayments of short-term nots payable 
     (2,503,120) 
     – 
  
    Proceeds from exercise of common stock warrants 
     160,400  
     – 
  
    Net cash flows from financing activities 
     4,234,161  
     – 

    Net decrease in cash and cash equivalents 
     (191,591) 
     (1,016,362)

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

    Cash and cash equivalents at end of period 
    $794,836  
    $986,427 

    Supplemental disclosures of cash flow information: 

    Cash paid for interest 
    $136,580  
    $– 
  
    Cash paid for income taxes 
     –  
     – 

    Supplemental investing and financing activities: 

    ROU asset recognized from operating lease 
    $221,110  
    $– 

See Accompanying Notes to Financial Statements.

 32 

NEOVOLTA INC.

Notes to Financial Statements

June 30, 2025

(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, 2018. The Company is a designer, seller and manufacturer of Energy Storage Systems (ESS) which can store and use energy via batteries
and an inverter at residential sites. The Company sells its proprietary ESS units through wholesale customers, initially in California,
and in an expanding number of other states. In August