Company: NEOV
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001683168-25-008147
Chunk: 6

Company: NeoVolta Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 18%, 11% and 11% of the Company’s revenues in the three months ended
September 30, 2025, however, no other dealers accounted for more than 10% of the revenues in such period. Three dealers represented approximately
22%, 15% and 15% of the Company’s accounts receivable as of September 30, 2025. Three dealers represented approximately 37%, 26%
and 13% of the Company’s revenues in the three months ended September 30, 2024. Since all of the Company’s revenue is currently
generated from the sales of similar products, no further disaggregation of revenue information for the three months ended September 30,
2025 and 2024 is provided.

Allowance for Expected
Credit Losses – The Company recognizes an allowance for expected credit losses based on the assessed risk of loss for a
customer's account, reflecting the net amount expected to be collected. As of September 30, 2025 and June 30, 2025, our allowance for
expected credit losses was $450,000 and $314,200, respectively.

Stock Compensation Expense
– Employee and non-employee share-based payment compensation is measured at the grant date, based on the fair value of the award,
and is recognized as an expense over the requisite service period.

Loss Per Common Share
– Basic loss per common share is computed by dividing net loss available to common shareholders by the weighted-average number of
common shares outstanding during the period. Diluted loss per common share is determined using the weighted-average number of common shares
outstanding during the period, adjusted for the dilutive effect of common stock equivalents. In periods when losses are reported, the
weighted-average number of common shares outstanding excludes common stock equivalents, because their inclusion would be anti-dilutive.
As of September 30, 2025, the Company had total outstanding common stock equivalents of 2,948,150 shares as follows: (i)1,670,000 shares
related to restricted stock units granted to three officers since April 2024; (ii) 1,081,150 shares related to warrants issued to investors
in the public offering completed in August 2022; (iii) 147,000 shares for Non-Qualified Stock Options granted to employees in August 2025;
and (iv) 50,000 shares related to restricted stock units granted to an officer in March 2022 (see Note 3).

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