Company: NEOV
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001683168-25-003355
Chunk: 2

Company: NeoVolta Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 2
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, in California and several
other states. Two such dealers represented approximately 48% and 15% of the Company’s revenues in the three months ended March 31,
2025, however, no other dealers accounted for more than 10% of the revenues in such period. Three such dealers represented approximately
26%, 24% and 15% of the Company’s revenues in the nine months ended March 31, 2025. Four dealers represented approximately 23%,
22%, 18% and 11% of the Company’s accounts receivable as of March 31, 2025. Four dealers represented approximately 21%, 16%, 13%
and 11% of the Company’s revenues in the three months ended March 31, 2024. Three dealers represented approximately 25%, 17% and
11% of the Company’s revenues in the nine months ended March 31, 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 and nine months ended March 31, 2025
and 2024 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 March 31, 2025 and June 30, 2024, our allowance for expected credit losses was
$660,000 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 March 31, 2025, the Company had total outstanding common stock equivalents of 2,937,512 shares as follows: (i) 1,806,362 shares
related to restricted stock units granted to an officer and two other employees since April