Company: HYSR
Filing Date: 2025-09-15
Form Type: 10-K
Source: 0001213900-25-087311
Chunk: 1143

Company: SUNHYDROGEN, INC.
Filing Date: 2025-09-15
Form: 10-K
Item: Item 14
Chunk 1143
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 Euronext Growth on Oslo Stock Exchange. In
January 2025, TECO was delisted. Based on these events, the Company determined the fair value of their shares was $0 as of June 30, 2025.

On December 17, 2024, the Company entered a share
allocation agreement with TECO HOLDING AS, in which Bacchus AS (“Newco”, a wholly owned subsidiary of TECO HOLDINGS AS, and
a private entity) intends to acquire the shares and other assets owned by TECO 2030 ASA. TECO HOLDINGS AS then agreed to transfer shares
in Newco equal to 13.32% or 39,350,000 shares of Newco to the Company free of charge, encumbrances, and other liens. Concurrently with
the transfer of shares under the allocation agreement, a representative of the Company, whenever preferred, is appointed to the board
of directors of Newco. Due to there being no readily determinable fair value, the Company elected to value their investment in Newco at
costs minus impairment which, as of June 30, 2025, was $0. If, in the future, the Company identifies observable price changes in orderly
transactions for an identical or similar investment, we may measure our investment in Newco at fair value as of the date the observable
transaction occurred.

The following table summarizes our equity investments
in TECO:

    Date of Investment 
    Number of Shares  
    Cost Basis  
    Fair Value as of June 30, 2024  
    Unrealized Loss  
    Fair Value  as of  June 30,  2025 
  
    November 24, 2022 
     13,443,875  
    $7,000,000  
    $1,880,032  
    $(1,880,032) 
    $- 
  
    May 24, 2024 
     15,884,744  
     3,139,302  
     2,221,370  
     (2,221,370) 
     - 
  
    Total 
     29,328,619  
    $10,139,302  
    $4,101,402  
    $(4,101,402) 
    $- 

F-16

8.INVESTMENT IN