Company: SUNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0000022701-25-000002
Chunk: 15

Company: SUNation Energy, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 15
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 by (used in) financing activities  2,084,358   (2,760,236)NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH  (4,244,995)   139,865CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF YEAR  5,396,343   5,256,478CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR$ 1,151,348 $ 5,396,343SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:     Income taxes paid$ 76,700 $ 58,858Interest paid  1,604,100   1,119,480SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:     Capital contribution on related party debt extinguishment  —   36,291Loss on extinguishment of debt  (35,657)   —Deemed dividend on Convertible Preferred Stock and PIPE Warrants  11,587,121   —Conversion of redeemable convertible preferred stock to common stock  15,277,055   —Operating right of use assets obtained in exchange for lease obligations  —   753,972The accompanying notes are an integral part of the consolidated financial statements.           

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SUNATION ENERGY, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTSYears Ended December 31, 2024 and 2023 NOTE 1 – NATURE OF OPERATIONS Description of Business SUNation Energy, Inc. (formerly Communications Systems, Inc., Pineapple Holdings, Inc., and Pineapple Energy Inc.) (“SUNE”, “SUNation Energy”, “we” or the “Company”), was originally organized as a Minnesota corporation in 1969. On March 28, 2022, the Company completed its previously announced merger transaction with Pineapple Energy LLC (“Pineapple Energy”) in accordance with the terms of that certain Agreement and Plan of Merger dated March 1, 2021, as amended by an Amendment No. 1 to Merger Agreement dated December 16, 2021 (collectively the “merger agreement”), by and among the Company, Helios Merger Co., a Delaware corporation and a wholly-owned subsidiary of the Company (the “Merger Sub”), Pineapple Energy LLC, a Delaware