Company: NEOV
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001683168-25-007304
Chunk: 28

Company: NeoVolta Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 28
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 (“Nasdaq”) under the symbols “NEOV” and “NEOVW,” respectively.

Holders

As of September 29, 2025,
there were approximately 36 holders of record of our common stock. The number of record holders does not include beneficial owners of
common stock whose shares are held in the names of banks, brokers, nominees or other fiduciaries.

Dividends

We have never paid any cash
dividends on our common stock. We currently anticipate that we will retain all future earnings for use in our business. Consequently,
we do not anticipate paying any cash dividends in the foreseeable future. The payment of dividends in the future will depend upon our
results of operations, as well as our short term and long-term cash availability, working capital, working capital needs, and other factors
as determined by our Board of Directors.

Recent Sales of Unregistered Securities

In the three months ended
June 30, 2025, we issued no new shares of our common stock.

Purchases of Equity Securities by the Issuer and Affiliated Purchasers

We did not repurchase any of our equity securities
during the year ended June 30, 2025.

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ITEM 6. [RESERVED]

ITEM 7. MANAGEMENT’S DISCUSSION AND
ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion
should be read in conjunction with the financial statements and notes thereto included elsewhere in this report. Certain statements in
this “Management’s Discussion and Analysis of Financial Condition and Results of Operations” are forward-looking statements
that are based on current expectations and involve various risks and uncertainties that could cause our actual results to differ materially
from those expressed in these forward-looking statements. We encourage you to review the “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” sections in this report.

Overview

We are a designer, manufacturer,
and seller of high-end Energy Storage Systems (or ESS), primarily our NeoVolta NV14, NV14-K, and NV 24, which can store and use energy
via batteries and an inverter at residential or commercial sites. We were founded to identify new ways to leverage emerging technologies
with the dynamic changes that are taking place in the energy delivery space. We primarily market and sell our products directly to our
certified solar installers and solar equipment distributors. We are also pursuing agreements with residential developers, commercial developers,
and other commercial opportunities. Because