Company: HYSR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001213900-25-011506
Chunk: 20

Company: SUNHYDROGEN, INC.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 8
Chunk 20
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    Interest earned on Certificates of Deposit (NOTE 9) 
     -  
     61,200 
  
    Interest earned on Corporate Bonds 
     -  
     54,375 
  
    Interest earned on TECO bond (NOTE 7) 
     -  
     114,652 
  
    Dividends and other 
     3,686  
     13,741 
  
    Total investment income 
    $919,368  
    $960,593 

9.SHORT TERM INVESTMENTS

On September 12, 2023, the Company invested in
a $5,000,000 certificate of deposit (CD), which matured on March 12, 2024. CDs should be reported as part of cash and cash equivalents
at cost plus accrued interest if less than 90 days from the purchase date, and on its own line in the financial statements if the purchase
is greater than 90 days. The CD has been classified as a short-term investment due to the length of time to maturity at acquisition and
was measured using Level 2. The CD was reinvested upon maturity. The Company recognized interest income of $61,200 which was reported in
the Company’s financial statements as of December 31, 2023.

10.COMMITMENTS AND CONTINGENCIES

Effective October 1, 2024, the Company extended
its research agreement with the University of Iowa through September 30, 2025. As consideration under the research agreement, the University
of Iowa will receive a maximum of $302,459 from the Company in four equal installments of $75,615. The agreement can be terminated
by either party upon sixty (60) days prior written notice to the other. As of December 31, 2024, there is a balance due of $75,615 per
the agreement.

Effective October 1, 2024, the Company extended
its research agreement with the University of Michigan through September 30, 2025. As consideration under the research agreement, the
University of Michigan will receive a maximum of $252,246 from the Company. In the event of early termination by the Sponsor, the Sponsor
will pay all costs accrued by the University as of the date of termination, including non-cancellable obligations. As of December 31,
2024, there is a balance due of $63,062 per the