Company: NEOV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001683168-25-000834
Chunk: 31

Company: NeoVolta Inc.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 8
Chunk 31
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 dealers represented approximately 37% and 34% of the Company’s revenues in the three months ended December 31, 2024, however,
no other dealers accounted for more than 10% of the revenues in such period. Two such dealers represented approximately 35% and 33% of
the Company’s revenues in the six months ended December 31, 2024. Four dealers represented approximately 31%, 25%, 23% and 21% of
the Company’s accounts receivable as of December 31, 2024. Two dealers represented approximately 51% and 15% of the Company’s
revenues in the three months ended December 31, 2023. Three dealers represented approximately 29%, 20% and 10% of the Company’s
revenues in the six months ended December 31, 2023. 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 and six months ended December 31, 2024 and 2023 is provided.

Allowance for Expected
Credit Losses – The Company recognizes an allowance for expected credit losses whenever a loss is expected to be incurred
in the realization of a customer’s account. As of December 31, 2024 and June 30, 2024, our allowance for expected credit losses
was $640,000 and $1,030,000, 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 December 31, 2024, the Company had total outstanding common stock equivalents of 2,547,512 shares as follows: (i) 1,416,362 shares
related to restricted stock units granted to an officer and two other employees since April 2024; (ii) 1,081,150 shares