Company: HYSR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108125
Chunk: 14

Company: SUNHYDROGEN, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 14
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 the three months ended September 30, 2025,
the Company repurchased and cancelled 1,486 shares of Series C Preferred Stock with a stated value of $148,000 for $1,000,000. The Company
made a reduction of additional paid in capital of $851,400 and no gain or loss was recognized in the financial statements.

As of September 30, 2025 and June 30, 2025, the
Company had 5,165 and 6,651 shares of Series C Preferred Stock outstanding, respectively. The fair value of the outstanding shares was
$516,500 and $665,100, respectively.

4.COMMON STOCK

Three Months Ended September 30, 2025

During the three months ended September 30, 2025
the Company did not issue any shares of its common stock.

Three Months Ended September 30, 2024

On November 11, 2022, the Company entered into
a purchase agreement with an investor for the sale of up to $45,000,000 of shares of common stock. For the three months ended September
30, 2024, the Company issued 118,513,734 shares of common stock for $2,250,000 under the purchase agreement at prices of
$0.0156 - $0.02024, pursuant to purchase notices received from the investor. The finance cost of $48,075 was deducted from the
gross proceeds received, leaving net proceeds of $2,201,925.

5.STOCK INCENTIVE PLANS

2019 Equity Stock Incentive Plan

On December 17, 2018, the Board of Directors approved
and adopted the 2019 Equity Incentive Plan (“the 2019 Plan”), with 300,000,000 shares reserved for issuance. The purpose of
the 2019 Plan is to promote the success of the Company and to increase stockholder value by providing an additional means through the
grant of awards to attract, motivate, retain, and reward selected employees and other eligible persons. The awards are performance-based
compensation that are granted under the 2019 Plan as incentive stock options (ISO) or nonqualified stock options. The per share exercise
price for each option shall not be less than 100% of the fair market value of a share of common stock on the date of grant of the option.
The Company periodically issues stock options and warrants to employees and non