Company: HYSR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001213900-25-011506
Chunk: 14

Company: SUNHYDROGEN, INC.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 8
Chunk 14
---
 amount upon an event that is outside of the Company’s control.

During the six months ended December 31, 2024,
an investor converted 2,200 preferred shares with a stated value of $220,000, at a conversion price of $0.00095, into 231,578,947 common
shares. No gain or loss was recognized in the financial statements.

During the six months ended December 31, 2023,
an investor converted 2,100 preferred shares with a stated value of $210,000, at a conversion price of $0.00095, into 221,052,632 common
shares. No gain or loss was recognized in the financial statements.

As of December 31, 2024 and June 30, 2024, the
Company had 6,651 and 8,851 shares of Series C Preferred Stock outstanding, respectively. The fair value of the outstanding shares was
$665,100 and $885,100, respectively. 

9

4.COMMON STOCK

Six Months Ended December 31, 2024

On November 11, 2022, the Company entered into
a Purchase Agreement with an investor for the sale of up to $45,000,000 of shares of common stock. For the six months ended December
31, 2024, the Company issued 118,513,734 shares of common stock for $2,250,000 under the purchase agreement at prices of
$0.0156 - $0.02024, pursuant to purchase notices received from the investor. The finance cost of $48,075 was deducted from the
gross proceeds received, leaving net proceeds of $2,201,925.

On November 22, 2024, the Company issued 231,578,947
shares of common stock, upon conversion of 2,200 shares of preferred stock with a stated value of $220,000 at a conversion price of $0.00095.

Six Months Ended December 31, 2023

On November 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 six months ended December 31, 2023, the
Company issued 50,463,718 shares of common stock for $550,000 under the purchase agreement at prices of $0.0094 - $0.0134, pursuant