Tue, Mar 25, 9:25 PM (32 days ago)
**NewHydrogen, Inc. (NEWH) - Financial Summary** **Financial Performance:** - **Revenue:** $0 for the fiscal year ended December 31, 2024. - **Net Income:** Net loss of $1,809,962 for 2024, compared to a net loss of $3,177,532 in 2023. - **Operating Expenses:** Total operating expenses were $1,814,580 for 2024, down from $3,179,250 in 2023. - **Selling and Marketing Expenses:** Increased by $207,573 to $316,624 in 2024. - **General and Administrative Expenses:** Decreased by $1,731,903 to $1,131,312 in 2024. - **Research and Development Expenses:** Increased by $159,660 to $362,538 in 2024. **Earnings Per Share:** Basic and diluted earnings per share were $(0.00) for both 2024 and 2023. **Strategic Overview:** - Focus on developing ThermoLoop™, a thermochemical green hydrogen production technology. - Collaboration with UC Santa Barbara for research and development. - Market strategy includes engaging with manufacturers and potential licensing partners. **Future Outlook:** - Plans to utilize current cash balances to maintain technology development at UCSB. - Expects to require additional cash resources in the second half of 2025. - No backlog of orders or government contracts as of the report. **Risk Factors:** - Limited history of losses and no realized revenues to date. - Dependence on successful development and commercialization of technologies. - Risk of competition from companies with greater resources. - Dependence on key employees and strategic relationships. **Financial Condition:** - Working capital of $2,118,257 as of December 31, 2024. - Cash used in operating activities was $1,573,920 for 2024. - No cash provided from financing activities in 2024. **Market Position Changes:** - Common stock is quoted on the OTC Pink under the ticker symbol “NEWH.” - 704,599,512 shares of common stock outstanding as of March 24, 2025. - Aggregate market value of voting and non-voting common stock held by non-affiliates was approximately $3,499,151 as of June 30, 2024. **Other Notable Points:** - No dividends declared or paid in the foreseeable future. - No material legal proceedings or environmental compliance issues reported. - No theft or casualty insurance, with modest liability and property insurance coverage.