Sunhydrogen, one year ... (Securibourse)

par Hawkmoon, mercredi 17 février 2021, 09:11 (il y a 1379 jours) @ Hawkmoon

Bilan de la boite :
technologie
Leur technologie de nanoparticules semble marcher: ils produisent de l'hydrogene pour pas cher.( "vingt fois moins cher que la catalyse classique carbonée...)
Toutes leurs expériences, après abandon de la premiere generation de leur technologie, sont concluantes au niveau production d'hydrogene vert ( il faut juste du soleil et de l'eau pour alimenter la bécane), et il est possible d'alimenter la consommation électrique d'une maison pour une petite micro station ou d'une communauté pour une plus grande station.
Les tests de fiablilité, de durée de production, sont plutôt concluants.
ils parlent de démonstration dans le monde, de commercialisation, mais c'est encore un peu vague.

MAIS
finances:
aucun revenu, pertes en nette augmentation pour développer et expérimenter leur technologie.

les perpectives sont: à ce rythme, la boite déclare pouvoir continuer au moins un an, à moins de trouver un nouveau financement, ou de cesser le développement actuel.

ils semblent optimistes pour trouver un nouveau partenaire dans l'année, "si les conditions sont acceptables". Ils ne veulent pas se prostituer apparemment.

Mon avis: la base technique est bonne et prometteuse, sur un secteur essentiel et porteur, mais c'est encore très tôt pour parler rentrée d'argent ou rentabilité
Je n'ai pas vu de brevet ???, mais je l'ai peut être juste pas trouvé

A mon sens :
solution 1 : partenaire trouvé, augmentation de capital, je perd provisoirement un peu d'argent. L'aventure continue . Je pourrai peut être continuer à gagner de l'argent avec du temps ...
solution 2 : la boite est vendue dans l'année: avec de bonnes perpectives, bon prix , je gagne de l'argent,
solution 3 : la boite coule, j'ai tout perdu

Je prefere la 2 mais la 1 me semble plus réaliste, je compte sur Biden pour m'aider, et je reste dessus !

A vous lire pour vos éventuels avis

en copie la com
si j'ai raté quelques chose n;hésitez pas à me le signaler, maille taylore ise note riche !

SUNHYDROGEN : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-Q)
02/16/2021 | 05:30pm EST
share with twitter
share with LinkedIn
share with facebook

Cautionary Statement Regarding Forward-Looking Statements

The information in this discussion may contain forward-looking statements. These forward-looking statements involve risks and uncertainties, including statements regarding our capital needs, business strategy and expectations. Any statements that are not of historical fact may be deemed to be forward-looking statements. These forward-looking statements involve substantial risks and uncertainties. In some cases you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," or "continue", the negative of the terms or other comparable terminology. Actual events or results may differ materially from the anticipated results or other expectations expressed in the forward-looking statements. In evaluating these statements, you should consider various factors, including the risks included from time to time in our reports filed with the Securities and Exchange Commission. These factors may cause our actual results to differ materially from any forward-looking statements. We disclaim any obligation to publicly update these statements, or disclose any difference between actual results and those reflected in these statements, except as may be required under applicable law.

Unless the context otherwise requires, references in this Form 10-Q to "we," "us," "our," or the "Company" refer to SunHydrogen, Inc.

Overview

At SunHydrogen, our goal is to replace fossil fuels with clean renewable hydrogen.

We refer to our technology as the SunHydrogenH2Generator or panel which is comprised of the following components:

1. The Generator Housing - Novel device design is the first of its type to safely separate oxygen and hydrogen in the water splitting process without sacrificing efficiency. This device houses the water, the solar particles/cells and is designed with inlets and outlets for water and gasses. Utilizing a novel ion-exchange membrane strategy for separating the oxygen side from the hydrogen side, ion transport is increased which is the key to safely increasing solar-to-hydrogen efficiency. Our design can be scaled up and manufactured for commercial use.

2. The NanoParticle or Solar Cell - Our patented nanoparticle consists of billions of tiny solar cells capped with catalysts that are electrodeposited into one tiny structure to provide the charge that splits the water molecule when the sun excites the electron.

3. Oxygen Evolution Catalyst - This proprietary catalyst developed at the University of Iowa lab is uniformly applied onto the solar cell or nanoparticle and efficiently oxidize water molecule to generate oxygen gas. The oxygen evolution catalyst must be robust to withstand the long operating hours of the hydrogen generation device to ensure long lifetime. It must be stable in alkaline, neutral and acidic environments.

4. Hydrogen Evolution Catalyst - Necessary for collecting electrons to reduce protons for generating hydrogen gas, we have successfully integrated a low-cost hydrogen catalyst into our generator system successfully coating a triple junction solar cell with a catalyst comprised primarily of ruthenium, carbon and nitrogen that can function as well as platinum, the current catalyst used for hydrogen production, but at one twentieth of the cost.

16

5. Coating Technologies - Two major coating technologies were developed to protect the nanoparticles and solar cells from photocorrosion under water. A transparent conducive coating to protect our nanoparticles and solar cells from photo corrosion and efficiently transfer charges to catalysts for oxygen and hydrogen evolution reactions. A polymer combination that protects the triple junction solar cells from any corrosive water environments for long lifetime of the hydrogen generation device.

6. A concentrator equal to two suns - This inexpensive Fresnel lens concentrator to increase sunlight to equal two suns reduces our necessary footprint for a 1000 KG per day system.

In the process of optimizing our nanoparticles to be efficient and only during experimentation with earth abundant materials (an ongoing process), we experimented with commercially available triple junction silicon solar cells to perform tests with our generator housing and other components. Through this experimentation, our discovery led us to believe that we could bring a system (Gen 1) to market utilizing these readily available cells while our nanoparticles are still being optimized. While these solar cells also absorb the sunlight and produce the necessary charge for splitting the water molecules into hydrogen and oxygen, their efficiency is low, thus we have made the strategic decision to focus on our NanoParticle strategy (Gen 2) and use these hydrogen generators for proof of concept and demonstration purposes only. We anticipate these hydrogen panels will be demonstrated in various parts of the world to as further proof of concept of our technology and to promote our nanoparticle technology that will be more efficient and economical.

Our business and commercialization plan utilizes our second generation of hydrogen panels featuring the nanoparticle based technology where billions of autonomous solar cells are electrodeposited onto porous alumina sheets and manufactured in a roll to roll process or wafer process and inserted into our proprietary panels. For this generation, we have received multiple patents and it is estimated that it will produce hydrogen for less than $4 per kilogram before pressurization.

Our team at the University of Iowa reached a milestone of 1000 consecutive hours of continuous hydrogen production utilizing completely immersed solar cells with no external biases achieving simulated production equal to one year. We believe this to be a record for completely immersed cells. Now ready to take our technology out of the lab, we are working with several vendors to help commercialize and manufacture our renewable hydrogen panels that use sunlight and water to generate hydrogen.

We anticipate that the SunHydrogenH2Generator will be a self-contained renewable hydrogen production system that requires only sunlight and any source of water. As a result, it can be installed almost anywhere to produce hydrogen fuel at or near the point of distribution, for local use. We believe this model of hydrogen production addresses one of the biggest challenges of using clean hydrogen fuel on a large scale - the transportation of hydrogen.

Each stage of the SunHydrogenH2Generator can be scaled independently according to the hydrogen demands and length of storage required for a specific application. A small-scale system can be used to produce continuous renewable electricity for a small house, or a large scale system can be used to produce hydrogen to power a community.

Critical Accounting Policies

Our discussion and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates, including those related to impairment of property, plant and equipment, intangible assets, deferred tax assets and fair value computation using the Binomial valuation option pricing model. We base our estimates on historical experience and on various other assumptions, such as the trading value of our common stock and estimated future undiscounted cash flows, that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions; however, we believe that our estimates, including those for the above-described items, are reasonable.

17

Use of Estimates

In accordance with accounting principles generally accepted in the United States, management utilizes estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These estimates and assumptions relate to useful lives and impairment of tangible and intangible assets, accruals, income taxes, stock-based compensation expense, Binomial lattice valuation model inputs, derivative liabilities and other factors. Management believes it has exercised reasonable judgment in deriving these estimates. Consequently, a change in conditions could affect these estimates.

Fair Value of Financial Instruments

Fair value of financial instruments requires disclosure of the fair value information, whether or not recognized in the balance sheet, where it is practicable to estimate that value. As of December 31, 2020, the amounts reported for cash, accrued interest and other expenses, notes payables, and derivative liability approximate the fair value because of their short maturities.

We adopted ASC Topic 820 for financial instruments measured as fair value on a recurring basis. ASC Topic 820 defines fair value, established a framework for measuring fair value in accordance with accounting principles generally accepted in the United States and expands disclosures about fair value measurements.

Recently Issued Accounting Pronouncements

Management reviewed currently issued pronouncements during the six months ended December 31, 2020, and does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying condensed financial statements. Pronouncements disclosed in notes to the financials.

Results of Operations for the Three months ended December 31, 2020 compared to Three Months Ended December 31, 2019.

Operating Expenses

Operating expenses for the three months ended December 31, 2020 were $2,731,648 compared to $450,230 for the prior period ended December 31, 2019. The net increase of $2,281,418 in operating expenses consisted primarily of an increase in professional fees of $1,812,312, an increase in salary expense of $185,000, an increase in research and development of $335,147, an increase in marketing expense of $15,480, an overall increase in other expenses of $7,008, with a decrease in non-cash stock compensation expense of $73,529.

Other Income/(Expenses)

Other income and (expenses) for the three months ended December 31, 2020 were $(122,388,733) compared to $(2,830,056) for the prior period ended December 31, 2019. The increase in other expenses of $(119,558,677) was the result of the non-cash loss in net change in derivative of $119,492,798, interest expense of $66,327, which includes the net change in amortization of debt discount of $36,010, with an increase in other income of $448.

Net Income/(Loss)

For the three months ended December 31, 2020, our net loss was $(125,120,381) as compared to net loss of $(3,280,286) for the prior period ended December 31, 2019. The majority of the increase in net loss of $121,840,095, was related primarily to the increase in net change of derivative instruments estimated each period. These estimates are based on multiple inputs, including the market price of our stock, interest rates, our stock price, volatility, variable conversion prices based on market prices defined in the respective agreements and probabilities of certain outcomes based on managements' estimates. These inputs are subject to significant changes from period to period, therefore, the estimated fair value of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material. The Company has not generated any revenues.

Results of Operations for the Six months ended December 31, 2020 compared to Six Months Ended December 31, 2019.

Operating Expenses

Operating expenses for the six months ended December 31, 2020 were $3,310,134 compared to $966,126 for the prior period ended December 31, 2019. The net increase of $2,344,008 in operating expenses consisted primarily of an an increase in research and development expense of $330,013, increase in professional fees of $1,980,016, increase in marketing expense of $41,425, an increase in salary of $185,000, an increase in insurance expense of $18,053, with a decrease in non-cash stock compensation expense of $208,487, and a decrease in other operating expenses of $2,012.

Other Income/(Expenses)

Other income and (expenses) for the six months ended December 31, 2020 were $(124,015,577) compared to $(3,566,896) for the prior period ended December 31, 2019. The increase in other expenses of $(120,448,681) was the result of the non-cash loss in net change in derivative of $120,438,477, interest expense of $10,652, which includes the net change in amortization of debt discount of $36,010, and an increase in other income of $448.

18

Net Income/(Loss)

For the six months ended December 31, 2020, our net loss was $(127,325,711) as compared to net loss of $(4,533,022) for the prior period ended December 31, 2019. The majority of the increase in net loss of $122,792,689, was related primarily to the increase in net change of derivative instruments estimated each period. These estimates are based on multiple inputs, including the market price of our stock, interest rates, our stock price, volatility, variable conversion prices based on market prices defined in the respective agreements and probabilities of certain outcomes based on managements' estimates. These inputs are subject to significant changes from period to period, therefore, the estimated fair value of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material. The Company has not generated any revenues.

LIQUIDITY AND CAPITAL RESOURCES

Liquidity is the ability of a company to generate funds to support its current and future operations, satisfy its obligations, and otherwise operate on an ongoing basis. Significant factors in the management of liquidity are funds generated by operations, levels of accounts receivable and accounts payable and capital expenditures.

As of December 31, 2020, we had a working capital deficit of $166,808,406 as compared to $60,459,862 as of June 30, 2020. This increase in working capital deficit of $106,348,544 was due primarily to an increase in cash, accrued expenses, derivative liability, and convertible notes, with a decrease in prepaid expenses, and accounts payable.

Cash used in operating activities was $(2,872,831) for the six months ended December 31, 2020 compared to $(323,673) for the prior period ended December 31, 2019. The increase in cash used in operating activities was due to an increase in research and development cost and professional fees. The Company has had no revenues.

Cash used in investing activities during the six months ended December 31, 2020 and 2019 was $53,961 and $781, respectively. The increase in investing activities was due to the purchase of tangible asset in the current period.

Cash provided by financing activities during the six months ended December 31, 2020 was $20,092,300 net of commission fees and $346,500 for the prior period ended December 31, 2019. The increase in cash provided in financing activities was due to selling equity securities in the current period. Our ability to continue as a going concern is dependent upon raising capital through financing transactions and future revenue. Our capital needs have primarily been met from the proceeds of private placements and registered offerings of our securities, as we currently have not generated any revenues.

The condensed financial statements have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets and liabilities and commitments in the normal course of business. The accompanying condensed financial statements do not reflect any adjustments that might result if we are unable to continue as a going concern. During the six months ended December 31, 2020, we did not generate any revenues, and incurred a net loss of $127,325,711, which was primarily associated with the non-cash loss in change in derivative liability, and we had a working capital deficiency of $166,808,406 and a shareholders' deficit of $167,857,749 as of December 31, 2020. These factors, among others raise substantial doubt about our ability to continue as a going concern. Our independent auditors, in their report on our audited financial statements for the year ended June 30, 2020, expressed substantial doubt about our ability to continue as a going concern. Our ability to continue as a going concern ultimately is dependent on our ability to generate revenue, which is dependent upon our ability to obtain additional equity or debt financing, attain further operating efficiencies and, ultimately, achieve profitable operations. We have historically obtained funds from investors through the sale of our securities. Management believes that we will be able to continue to raise funds through the sale of our securities to existing and new investors. Management believes that funding from existing and prospective new investors and future revenue will provide the additional cash needed to meet our obligations as they become due, and will allow the development of our core business operations.

PLAN OF OPERATION AND FINANCING NEEDS

Our plan of operation within the next twelve months is to further research, develop, and protect our technology.

We believe that our current cash balances will be sufficient to support development activity, intellectual property protection, and all general and administrative expenses for at least the next year. We are investigating additional financing alternatives, including continued equity and/or debt financing. There can be no assurance that capital in any form would be available to us, and if available, on terms and conditions that are acceptable. If we are unable to obtain sufficient funds, we may be forced to reduce the size of our operations, which could have a material adverse impact on, or cause us to curtail and/or cease the development of our products.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that are reasonably likely to have a current or future effect on our financial condition, revenues or expenses, result of operations, liquidity or capital expenditures.

19

© Edgar Online, source Glimpses