Company: NEOV
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001683168-25-008147
Chunk: 53

Company: NeoVolta Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 53
---
 of the material weakness relating to the lack of segregation of duties, our
disclosure controls and procedures as of the end of the period covered by this Quarterly Report were not effective. Due to our size and
nature, segregation of all conflicting duties may not always be possible and may not be economically feasible. We will be required to
hire additional personnel in order to remediate our material weakness.

 16 

Limitations on Effectiveness of Controls and
Procedures

In designing and evaluating
the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated,
can provide only reasonable assurance of achieving the desired control objectives. In addition, the design of disclosure controls and
procedures must reflect the fact that there are resource constraints and that management is required to apply its judgment in evaluating
the benefits of possible controls and procedures relative to their costs.

Changes in Internal Controls over Financial
Reporting

There was no change in our
internal controls over financial reporting that occurred during the quarter ended September 30, 2025, that has materially affected, or
is reasonably likely to materially affect, our internal controls over financial reporting.

 17 

PART II. 	OTHER INFORMATION

ITEM 1.LEGAL PROCEEDINGS

Although we may, from time
to time, be involved in litigation and claims arising out of our operations in the normal course of business, we are not currently a party
to any material legal proceeding. In addition, we are not aware of any material legal or governmental proceedings against us, or contemplated
to be brought against us.

ITEM 1A.RISK FACTORS

There have been no material
changes from the risk factors previously disclosed in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year
ended June 30, 2025, as filed with the SEC on September 29, 2025 (the “Form 10-K”), under the heading “Risk Factors”,
and investors should review the risks provided in the Form 10-K prior to making an investment in the Company. The business, financial
condition and operating results of the Company can be affected by a number of factors, whether currently known or unknown, including
but not limited to those described in the Form 10-K for the year ended June 30, 2025, under “Risk Factors”, any one or more
of which could, directly or indirectly, cause the Company’s actual financial condition and operating results to vary