Company: HYSR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108125
Chunk: 24

Company: SUNHYDROGEN, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 24
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 a material effect on the accompanying condensed financial
statements. Pronouncements are disclosed in notes to the financial statements.

Results of Operations for the Three Months
ended September 30, 2025 compared to Three Months Ended September 30, 2024

Revenues

Revenues for the three months ended September
30, 2025 were $1,250, compared to $0 for the three months ended September 30, 2024. The net change of $1,250 in revenue was due to the
Company providing consulting services to a related party during the three months ended September 30, 2025 with no similar consulting services
provided in the same period of the prior year.

Operating Expenses

Operating
expenses for the three months ended September 30, 2025 were $1,924,395, compared to $1,036,427 for the three months ended September 30,
2024. The net change of $887,968 in operating expenses consisted primarily of an increase in research and development costs, in general
and administrative expenses and selling and marketing expenses due to increased efforts in operations.

17

Other Income/(Expenses)

Other
income and (expenses) for the three months ended September 30, 2025 were $363,367, compared to $(1,010,411) for the three months ended
September 30, 2024. The increase in other income of $1,373,778 was mainly the result of an unrealized loss on the Company’s investment
in TECO (Equity securities, related party) in the prior period compared to no unrealized gain/(loss) on the Company’s investment
in TECO in the current period offset by slight changes in investment income, dividend expense, unrealized and realized gain and losses.

Net Loss

For
the three months ended September 30, 2025, our net loss was $1,559,778, compared to a net loss of $2,046,838 for the three months ended
September 30, 2024. The decrease in net loss of $487,060 was primarily due to an unrealized loss on the Company’s investment in
TECO (Equity securities, related party on the Condensed Balance Sheets) in the prior period compared to no unrealized gain/(loss) on the
Company’s investment in TECO in the current period. In addition, the Company generated revenues in the current period compared to
none in the prior period and