Company: NEOV
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001683168-25-007304
Chunk: 313

Company: NeoVolta Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 4
Chunk 313
---
) 
     – 
  
    Proceeds from exercise of common stock warrants 
     160,400  
     – 
  
    Net cash flows from financing activities 
     4,234,161  
     – 

    Net decrease in cash and cash equivalents 
     (191,591) 
     (1,016,362)

    Cash and cash equivalents at beginning of period 
     986,427  
     2,002,789 

    Cash and cash equivalents at end of period 
    $794,836  
    $986,427 

    Supplemental disclosures of cash flow information: 

    Cash paid for interest 
    $136,580  
    $– 
  
    Cash paid for income taxes 
     –  
     – 

    Supplemental investing and financing activities: 

    ROU asset recognized from operating lease 
    $221,110  
    $– 

See Accompanying Notes to Financial Statements.

 32 

NEOVOLTA INC.

Notes to Financial Statements

June 30, 2025

(1) Business and Summary of Significant Accounting
Policies

Description of Business
– NeoVolta Inc. (“we”, “our” or the "Company") is a Nevada corporation, which was formed on March
5, 2018. The Company is a designer, seller and manufacturer of Energy Storage Systems (ESS) which can store and use energy via batteries
and an inverter at residential sites. The Company sells its proprietary ESS units through wholesale customers, initially in California,
and in an expanding number of other states. In August 2022, the Company completed an underwritten public offering of its equity securities
resulting in its common stock and warrants becoming listed on a national exchange (see Note 3).

Basis of Presentation
– The accompanying financial statements and related notes have been prepared in accordance with accounting principles generally
accepted in the United States of America (“U.S. GAAP”) and in accordance with the rules and regulations of the United States
Securities and Exchange Commission (the “SEC”).

Cash and Cash Equivalents
– The Company considers all highly liquid accounts with original maturities of three months or less at the date of acquisition to
be cash equivalents.  Periodically, the Company may carry cash balances at financial institutions in excess of the federally insured
limit of $250,000. As of June