Company: NEOV
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001683168-25-008147
Chunk: 26

Company: NeoVolta Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 26
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(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, 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 and commercial sites. The Company sells its proprietary ESS units through wholesale customers, initially
in California, and in an expanding number of other states. In August 2022, the Company completed an underwritten public offering of its
equity securities resulting in its common stock and warrants becoming listed on a national exchange (see Note 3).

Interim Financial Information
– The Company has prepared the accompanying financial statements, without audit, in accordance with accounting principles generally
accepted in the Unites States of America for interim financial information and pursuant to the rules and regulations of the Securities
and Exchange Commission (“SEC”). In the opinion of management, these financial statements contain all adjustments, consisting
only of normal recurring adjustments, necessary to fairly state the Company’s financial position as of September 30, 2025, the results
of its operations for the three month periods ended September 30, 2025 and 2024, the changes in its stockholders’ equity for the
three month periods ended September 30, 2025 and 2024, and cash flows for the three month periods ended September 30, 2025 and 2024. The
balance sheet as of June 30, 2025 has been derived from the Company’s June 30, 2025 financial statements that were audited by an
independent registered public accounting firm but does not include all of the information and footnotes required for complete annual financial
statements. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full
year. These financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended June 30, 2025, as
filed with the SEC on September 29, 2025.

Cash and Cash Equivalents
– The Company considers all highly liquid accounts with original maturities of three months or less at the date of acquisition to
be cash equivalents.  Periodically, the Company may carry cash balances at financial institutions in excess of the federally insured
limit of $250,