Company: HYSR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001213900-25-011506
Chunk: 16

Company: SUNHYDROGEN, INC.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 8
Chunk 16
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 under the 2022
Plan shall not be so increased.

As of July 1, 2024, the maximum number of shares
issuable under the 2022 Equity Incentive Plan was increased to 953,548,700 shares, based on the Company’s fully diluted capitalization
of 6,356,991,335. As of December 31, 2024, there were 448,600,000 stock options and shares issued, with 504,948,700 shares remaining available
for issuance.

10

6.STOCK OPTIONS AND WARRANTS

Options

Transactions involving our options are summarized
as follows:

    Weighted 

    Weighted  
    Average 

    Average  
    Grant-Date 

    Number of  
    Exercise  
    Per Share 

    Options  
    Price  
    Fair Value 
  
    Options outstanding at June 30, 2024 
     266,894,499  
    $0.011  
    $0.011 
  
    Granted 
     275,000,000  
    $0.017  
    $0.013 
  
    Canceled/Expired 
     (6,928,588) 
    $0.010  
    $0.010 
  
    Exercised 
     -  
    $-  
    $- 
  
    Options outstanding at December 31, 2024 
     534,965,911  
    $0.0139  
    $0.012 

Details of our options outstanding as of December
31, 2024, is as follows:

  Options Exercisable   Weighted Average Exercise Price of  Options Exercisable   Weighted Average Contractual Life of  Options Exercisable 
(Years)   Weighted Average Contractual Life of  Options Outstanding (Years)    255,465,911    0.011    2.15    4.85  

Total stock compensation expense related to the
options for the six months ended December, 2024 and 2023, was $183,497 and $144,963, respectively. As of December 31, 2024 there was approximately
$3.5 million of unrecognized compensation cost related to the Options, which is expected to be recognized over a remaining weighted-average
vesting period of approximately 1.41 years.