Company: NEOV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001683168-25-000834
Chunk: 84

Company: NeoVolta Inc.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part II, Item 1A
Chunk 84
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 a total of 500,000 shares of its common stock
to the investor group at an offering price of $2.00 per share resulting in gross proceeds to the Company in the amount of $1,000,000.
The Company expects to use the proceeds of this private offering to meet working capital needs and for other general corporate purposes.
The issuances were made pursuant to an exemption from registration as set forth in Section 4(a)(2) of the Securities Act and/or Rule 506
of Regulation D promulgated under the Securities Act.

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ITEM 3.DEFAULTS UPON SENIOR SECURITIES 

None. 

ITEM 4.MINE SAFETY DISCLOSURES 

Not applicable.

ITEM 5.OTHER INFORMATION

Effective with the filing of
this Report, the Company has relocated its corporate office to the following address:

NeoVolta, Inc.

12195 Dearborn Place

Poway, CA 92064

The Company’s phone number remains unchanged.

During the period covered by
this Quarterly Report, none of the Company’s directors or executive officers has adopted or terminated a Rule 10b5-1 trading arrangement
or a non-Rule 10b5-1 trading arrangement (each as defined in Item 408 of Regulation S-K under the Securities Exchange Act of 1934, as
amended).

On February 4, 2025, the Company
entered into an agreement with an accredited investor group under which the Company issued a total of 500,000 shares of its common stock
to the investor group at an offering price of $2.00 per share resulting in gross proceeds to the Company in the amount of $1,000,000.
The Company expects to use the proceeds of this private offering to meet working capital needs and for other general corporate purposes.
The issuances were made pursuant to an exemption from registration as set forth in Section 4(a)(2) of the Securities Act and/or Rule 506
of Regulation D promulgated under the Securities Act.

On February 4, 2025, Brent
Willson retired as the Chairman of the Board of Directors and Ardes Johnson, the Company’s chief executive officer, was elected
as a director and as the new Chairman of the Board of Directors. Mr. Johnson will not receive any additional compensation for his service
on the Board and will not serve on any Board committees.

On such date, Col Willson
also informed the Company that he would also retire from his position as