Company: NEOV
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001683168-25-007304
Chunk: 144

Company: NeoVolta Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1A
Chunk 144
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 of Unregistered Securities

In the three months ended
June 30, 2025, we issued no new shares of our common stock.

Purchases of Equity Securities by the Issuer and Affiliated Purchasers

We did not repurchase any of our equity securities
during the year ended June 30, 2025.

 22 

ITEM 6. [RESERVED]

ITEM 7. MANAGEMENT’S DISCUSSION AND
ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion
should be read in conjunction with the financial statements and notes thereto included elsewhere in this report. Certain statements in
this “Management’s Discussion and Analysis of Financial Condition and Results of Operations” are forward-looking statements
that are based on current expectations and involve various risks and uncertainties that could cause our actual results to differ materially
from those expressed in these forward-looking statements. We encourage you to review the “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” sections in this report.

Overview

We are a designer, manufacturer,
and seller of high-end Energy Storage Systems (or ESS), primarily our NeoVolta NV14, NV14-K, and NV 24, which can store and use energy
via batteries and an inverter at residential or commercial sites. We were founded to identify new ways to leverage emerging technologies
with the dynamic changes that are taking place in the energy delivery space. We primarily market and sell our products directly to our
certified solar installers and solar equipment distributors. We are also pursuing agreements with residential developers, commercial developers,
and other commercial opportunities. Because we are purely dedicated to energy solar systems, virtually all of our current resources and
efforts go into further developing our flagship NV14 and NV 24 products, while focusing on specific industry needs for our next generation
of products. We believe we are unique in the marketplace due to our low cost, our innovative battery chemistry, our product versatility
and our commitment to installer service. Because of these factors, we believe NeoVolta is uniquely equipped to establish itself as a major
player in the energy storage market.

As further discussed below
under “Liquidity and Capital Resources,” we completed an underwritten public offering of our equity securities in the form
of Units in August 2022. We sold a total of 1,121,250 Units in the offering at an offering price to the public of $4.00 per Unit. The
gross proceeds of the offering