Company: HYSR
Filing Date: 2025-09-15
Form Type: 10-K
Source: 0001213900-25-087311
Chunk: 1263

Company: SUNHYDROGEN, INC.
Filing Date: 2025-09-15
Form: 10-K
Item: Item 8
Chunk 1263
---
 Contributed capital-gain on exchange of convertible note receivable, related party 
    $-  
    $85,815 

The accompanying notes are an integral part of these audited condensed financial statements.

F-6

SUNHYDROGEN,
INC.

NOTES TO  FINANCIAL STATEMENTS

JUNE 30, 2025 AND 2024

1.ORGANIZATION
AND LINE OF BUSINESS

Organization

SunHydrogen, Inc. (the “Company”)
was incorporated in the state of Nevada on February 18, 2009. The Company, based in Coralville, IA began operations on February 19, 2009.

Line of Business

The company is currently developing a novel solar-powered
nanoparticle system that mimics photosynthesis to separate hydrogen from water. We intend for technology of this system to be used for
the production of renewable hydrogen to produce renewable electricity and hydrogen for fuel cells and other applications where hydrogen
is used.

SunHydrogen is developing
an efficient and cost-effective way to produce renewable hydrogen using sunlight  and any source
of water. Just like a solar panel is comprised of multiple cells that generate electricity, our hydrogen panel encases multiple
hydrogen generators immersed in water. Each hydrogen generator contains billions of electroplated nanoparticles, autonomously splitting
water into hydrogen and oxygen. We believe our technology has the potential to be one of – if not the most – economical renewable
hydrogen solutions: Unlike traditional water electrolysis for hydrogen, our process requires no external power other than sunlight and
uses efficient and low-cost materials.

2.SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES

Basis of Presentation

This summary of significant accounting policies
of SunHydrogen, Inc. is presented to assist in understanding the Company’s financial statements. The financial statements and notes
are representations of the Company’s management, which is responsible for their integrity and objectivity. These accounting policies
conform to accounting principals generally accepted in the United States of America and have been consistently applied in the preparation
of the financial statements.

Cash and Cash Equivalent 

The Company considers all highly liquid investments
with an original maturity of three months or less to be cash equivalents.

The following table provides detail of our cash
and cash equivalents.

    June 30,
 2025  
    June 30,
 2024 
  
    Cash 
    $27,993,513  
    $29,365,997