Company: HYSR
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001213900-25-041497
Chunk: 17

Company: SUNHYDROGEN, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 17
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 11, 2022, the Company entered into
a Purchase Agreement with an investor for the sale of up to $45,000,000 of common stock. For the nine months ended March 31, 2024, the
Company issued 86,395,059 shares of common stock for $900,000 under the purchase agreement at prices of $0.0094 - $0.0133, pursuant to
purchase notices received from the investor. The finance cost of $21,075 was deducted from the gross proceeds received, leaving gross
proceeds of $878,925.

On September 8, 2023, the Company issued 221,052,632
shares of common stock, upon conversion of 2,100 shares of preferred stock with a stated value of $210,000 at a conversion price of $0.00095. 

5.STOCK INCENTIVE PLANS

2019 Equity Stock Incentive Plan 

On December 17, 2018, the Board of Directors adopted
the 2019 Equity Incentive Plan (“the 2019 Plan”), under which 300,000,000 shares are reserved for issuance. The purpose of
the 2019 Plan is to promote the success of the Company and to increase stockholder value by providing an additional means through the
grant of awards to attract, motivate, retain, and reward selected employees and other eligible persons. The awards are performance-based
compensation that are granted under the 2019 Plan as incentive stock options (ISO) or nonqualified stock options. The per share exercise
price for each option shall not be less than 100% of the fair market value of a share of common stock on the date of grant of the option.
The Company periodically issues stock options and warrants to employees and non-employees in non-capital raising transactions for services
and for financing cost.

10

As of March 31, 2025, under the 2019 Plan, there
were 285,270,561 stock options and shares issued, with 14,729,439 shares remaining available for issuance.

2022 Equity Stock Incentive Plan 

On January 27, 2022, the Company adopted the 2022
Equity Incentive Plan (the “2022 Plan”), to enable the Company to attract and retain the types of employees, consultants,
and directors who will contribute to the Company’s long-range success. The maximum number of shares of common stock that may be