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

Company: SUNHYDROGEN, INC.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 8
Chunk 25
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 a larger unrealized loss on the Company’s investment
in TECO (Equity securities, related party on the Condensed Balance Sheets) in the current period compared to in the prior year and a decrease
in investment income in the current period compared to the prior year.

Net Loss

For
the three months ended December 31, 2024, our net loss was $3,471,062, compared to a net loss of $3,028,707 for the three months ended
December 31, 2023. The increase in net loss of $442,355 was primarily due to an increase in the unrealized loss on the Company’s
investment in TECO (Equity securities, related party on the Condensed Balance Sheets) in the current period compared to the prior year.
These equity securities are measured at fair value on a recurring basis. In addition, the Company has not generated any revenues. 

Results of Operations for the Six Months ended
December 31, 2024 compared to Six Months Ended December 31, 2023

Operating Expenses

Operating
expenses for the six months ended December 31, 2024 were $2,294,369, compared to $2,263,612 for the six months ended December 31, 2023.
The net change of $30,757 in operating expenses consisted primarily of an increase in research and development costs and general and administrative
expenses partially offset by decreases in selling and marketing expenses.

Other Income/(Expenses)

Other
income and (expenses) for the six months ended December 31, 2024 were $(3,223,531), compared to $(1,213,207) for the six months ended
December 31, 2023. The decrease in other income of $2,010,324 was primarily the result of a larger unrealized loss on the Company’s
investment in TECO (Equity securities, related party on the Condensed Balance Sheets) in the current period compared to the prior year
partially offset by a realized loss on redemption of marketable securities in the prior year with no similar transactions in the current
year.

Net Loss

For
the six months ended December 31, 2024, our net loss was $5,517,900, compared to a net loss of $3,476,819 for the six months ended December
31, 2023. The increase in net loss of $2,041,081 was primarily due to