Company: HYSR
Filing Date: 2025-09-15
Form Type: 10-K
Source: 0001213900-25-087311
Chunk: 650

Company: SUNHYDROGEN, INC.
Filing Date: 2025-09-15
Form: 10-K
Item: Item 7A
Chunk 650
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 on its shares of common stock (other than dividend payable in shares of common stock), the holders of Series
C Preferred Stock will also be entitled to receive payment of such dividend on an as-converted basis. The Series C Preferred Stock confers
no voting rights on holders, except with respect to matters that materially and adversely affect the voting powers, rights or preferences
of the Series C Preferred Stock or as otherwise required by applicable law. Upon liquidation, dissolution and winding up of the Company,
the holders of Series C Preferred Stock will be entitled to receive, before any payments will made or any assets distributed to the holders
of the common stock, the stated value of the Series C Preferred Shares plus any declared but unpaid dividends. No other current or future
equity holders of the Company will have higher priority of liquidation preference than holders of Series C Preferred Stock.

The Series C Preferred Stock is presented as mezzanine
equity because it is redeemable at a fixed or determinable amount upon an event that is outside of the Company’s control.

During the year ended June 30, 2025, an investor
converted 2,200 preferred shares with a stated value of $220,000, at a conversion price of $0.00095, into 231,578,947 common shares. No
gain or loss was recognized in the financial statements.

F-12

During the year ended June 30, 2024, an investor
converted 2,100 preferred shares with a stated value of $210,000, at a conversion price of $0.00095, into 221,052,632 common shares. No
gain or loss was recognized in the financial statements.

As of June 30, 2025 and June 30, 2024, the Company
had 6,651 and 8,851 shares of Series C Preferred Stock outstanding, respectively. The fair value of the outstanding shares was $665,100
and $885,100, respectively. 

4.COMMON STOCK

Year Ended June 30, 2025

On November 11, 2022, the Company entered into
a Purchase Agreement with an investor for the sale of up to $45,000,000 of shares of common stock. For the year ended June 30, 2025,
the Company issued 118,513,734 shares of common stock for $2,250,000 under the purchase agreement at prices of $0.0156