Company: HYSR
Filing Date: 2025-09-15
Form Type: 10-K
Source: 0001213900-25-087311
Chunk: 1049

Company: SUNHYDROGEN, INC.
Filing Date: 2025-09-15
Form: 10-K
Item: Item 12
Chunk 1049
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 (loss) that is reported on the income statement. The measure of segment assets is reported on the balance sheet as
total assets.

As the Company did not generate revenues in the
current fiscal year, the CODM assessed Company performance through the achievement of target identification goals. In addition to the
Company’s Statement of Operations, the CODM regularly works to develop budgeted and forecasted expense information which is used
to determine the Company’s liquidity needs and cash allocation.

F-11

Newly Issued and Recently Adopted Accounting
Pronouncements

In November 2023, the FASB issued ASU 2023-07,
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which updates reportable segment disclosure requirements
primarily through enhanced disclosures about significant segment expenses. The amendments are effective for fiscal years beginning after
December 15, 2023, and for interim period within fiscal year beginning after December 15, 2024. The Company adopted the ASU for the fiscal
year ended June 30, 2025. The amendment only impact disclosures and are not expected to have an impact on the Company’s financial
condition and results of operations.

In December 2023, the FASB issued ASU 2023-09, Income
Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands the requirements for income tax disclosures in order to provide
greater transparency. The amendments are effective for fiscal years beginning after December 15, 2024.  The Company adopted the ASU
for the fiscal year ended June 30, 2025. The amendments only impact disclosures and are not expected to have an impact on the Company’s
financial condition and results of operations.

In November 2024, the FASB issued ASU 2024-03, Income
Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement
Expenses, which requires incremental disclosures about specific expense categories, including but not limited to, purchases of inventory,
employee compensation, depreciation, amortization and selling expenses. The amendments are effective for fiscal years beginning after
December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted and the
amendments may be applied either prospectively or retrospectively. The Company is currently evaluating this ASU to determine its impact