Company: HYSR
Filing Date: 2025-09-15
Form Type: 10-K
Source: 0001213900-25-087311
Chunk: 290

Company: SUNHYDROGEN, INC.
Filing Date: 2025-09-15
Form: 10-K
Item: Item 2
Chunk 290
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 accounts or disclosures to which it relates.

Investments

As discussed in Note 7 to the financial statements,
the Company has investments in a related party, consisting of equity securities. The investment is subject to fair value measurement,
with the equity securities marked to market in accordance with the applicable financial reporting standards. 

●The equity securities of the related party
are marked to market and the determination of fair value involves judgment and reliance on valuation techniques. 

●The investment in the related party requires
additional disclosure and evaluation of the relationship between the Company and the related party entity. We focused on the adequacy
of the related party disclosures, including the identification of the related party, the nature of the relationship, and any transactions
that occurred between the entities.

Addressing these matters required the application
of heightened professional skepticism in evaluating management's assumptions regarding the valuation of both the equity securities and
the conversion of the bonds.

/s/ M&K CPAS, PLLC

We have served as the Company’s auditor since 2020

The Woodlands, TX

September 12, 2025

F-2

SUNHYDROGEN, INC.

BALANCE SHEETS

    June 30,  
    June 30, 

    2025  
    2024 

    ASSETS 

    CURRENT ASSETS 

    Cash
    and cash equivalents 
    $34,628,625  
    $39,044,795 
  
    Prepaid
    expenses 
     72,313  
     - 
  
    Equity
    securities, related party 
     -  
     4,101,402 
  
    Interest
    receivable 
     25,223  
     - 
  
    Short-term
    investments 
     2,997,460  
     - 

    TOTAL
    CURRENT ASSETS 
     37,723,621  
     43,146,197 

    OTHER ASSETS 

    PROPERTY & EQUIPMENT 

    Machinery
    and equipment 
     36,830  
     36,830 
  
    Computers
    and peripherals 
     -  
     11,529 
  
    Vehicle 
     152,260  
     135,260 

     189,090  
     183,619 
  
    Less:
    accumulated depreciation 
     (40,660)