Company: NEOV
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001683168-25-007304
Chunk: 658

Company: NeoVolta Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1C
Chunk 658
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 stock at the stated
conversion rate.

Warrants – The
Warrants for a total of 1,179,750 shares of common stock issued to investors and the underwriters are exercisable at any time after their
original issuance and at any time up to the date that is five years after their original issuance, or August 1, 2027. The Warrants may
be exercised upon payment of the exercise price in cash on or prior to the expiration date. Under the terms of the Warrant Agreement,
we must use our best efforts to maintain the effectiveness of the registration statement and current prospectus relating to common stock
issuable upon exercise of the Warrants until the expiration of the Warrants. If we fail to maintain the effectiveness of the registration
statement and current prospectus relating to the common stock issuable upon exercise of the Warrants, the holders of the Warrants shall
have the right to exercise the Warrants solely via a cashless exercise feature provided for in the Warrants, until such time as there
is an effective registration statement and current prospectus. In June 2024, the Company filed an updated registration statement applicable
to the exercise of the Warrants.

The following table presents
activity with respect to the Company’s warrants for the years ended June 30, 2025 and 2024:

    Schedule of warrant activity 

    Number  
    Wtd. Avg.  
    Wtd. Avg.  
    Aggregate 

    of  
    Exercise  
    Remaining  
    Intrinsic 

    Shares  
    Price  
    Term (Yrs.)  
    Value 

    Outstanding at July 1, 2023 
     1,179,750  
    $4.02  
     4.1  
    $– 
  
    Warrants issued 
     –  
     –  

    Warrants exercised/forfeited 
     –  
     –  

    Outstanding at June 30, 2024 
     1,179,750  
     4.02  
     3.1  
     – 
  
    Warrants issued 
     –  
     –  

    Warrants exercised/forfeited 
     (98,600) 
     (4.24) 

    Outstanding at June 30, 2025 
     1,081,150