Company: HYSR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001213900-25-011506
Chunk: 7

Company: SUNHYDROGEN, INC.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 8
Chunk 7
---
 34,721,654 

    SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION 

    Interest paid 
    $626  
    $3,406 
  
    Taxes paid 
    $-  
    $- 

    SUPPLEMENTAL DISCLOSURES OF NON CASH TRANSACTIONS 

    Conversion of Series C Preferred shares to common stock 
    $220,000.00  
    $210,000 

The accompanying notes are an integral part of these unaudited condensed financial statements. 

4

SUNHYDROGEN,
INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2024

(Unaudited)

1.ORGANIZATION
AND LINE OF BUSINESS

Organization

SunHydrogen, Inc. (the “Company”)
was incorporated in the state of Nevada on February 18, 2009. The Company, based in Coralville, IA began operations on February 19, 2009.

Line of Business

The company is currently developing a novel solar-powered
nanoparticle system that mimics photosynthesis to separate hydrogen from water. We intend for technology of this system to be used for
the production of renewable hydrogen to produce renewable electricity and hydrogen for fuel cells and other applications where hydrogen
is used.

SunHydrogen is developing
an efficient and cost-effective way to produce green hydrogen using sunlight and any source of water.
Just like a solar panel is comprised of multiple cells that generate electricity, our hydrogen panel encases multiple hydrogen
generators immersed in water. Each hydrogen generator contains billions of electroplated nanoparticles, autonomously splitting water into
hydrogen and oxygen. We believe our technology has the potential to be one of – if not the most – economical green hydrogen
solutions: Unlike traditional water electrolysis for hydrogen, our process requires no external power other than sunlight and uses efficient
and low-cost materials.

2.SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES

Basis of Presentation

The accompanying unaudited condensed financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim
financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulations S-X. Accordingly, they do not include all of
the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of
management, all normal recurring adjustments