Company: NEOV
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001683168-25-008147
Chunk: 21

Company: NeoVolta Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 preparation of these financial statements requires us to make estimates and judgments
that affect the reported amounts of assets, liabilities, revenues and expenses. We believe that certain accounting policies affect our
more significant judgments and estimates used in the preparation of our financial statements. See “Note 1. Business and Summary
of Significant Accounting Policies” of the Notes to Financial Statements set forth above and under “Item 8. Financial Statements
and Supplementary Data” of our Annual Report on Form 10-K for the year ended June 30, 2025, as filed with the SEC on September 29,
2025, for a further description of our critical accounting policies and estimates.

ITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Information for this Item
is not required as the Registrant is a “smaller reporting company” as defined in Rule 12b-2 of the Exchange Act.

ITEM 4.CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

We have established and maintain
a system of disclosure controls and procedures that are designed to provide reasonable assurance that information required to be disclosed
in our reports filed with the Securities and Exchange Commission pursuant to the Exchange Act, is recorded, processed, summarized and
reported within the time periods specified in the rules and forms of the Commission and that such information is accumulated and communicated
to our management, including our Chief Executive Officer, who is our principal executive officer, and Chief Financial Officer, who is
our principal financial and accounting officer, to allow timely decisions regarding required disclosures.

As of September 30, 2025,
our Chief Executive Officer and Chief Financial Officer evaluated the effectiveness of the design and operation of our disclosure controls
and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act). Based on that evaluation, our Chief Executive Officer
and Chief Financial Officer have concluded that, as a result of the material weakness relating to the lack of segregation of duties, our
disclosure controls and procedures as of the end of the period covered by this Quarterly Report were not effective. Due to our size and
nature, segregation of all conflicting duties may not always be possible and may not be economically feasible. We will be required to
hire additional personnel in order to remediate our material weakness.

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Limitations on Effectiveness of Controls and
Procedures

In designing and evaluating
the disclosure controls and procedures, management recognizes that any controls and