SUNation Energy, Inc.
For the period ended Mar 31, 2025. Filed May 15, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 15, 2025
SUNE$2.13+4.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
| SUNATION ENERGY, INC. | ||
|---|---|---|
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||
| (Unaudited) | ||
| Three Months Ended March 31 | ||
| 2025 | 2024 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net (loss) income | $(3,496,432) | $1,202,651 |
| Adjustments to reconcile net (loss) income to net cash used in operating activities: | ||
| Depreciation and amortization | 627,315 | 801,792 |
| Share based compensation | 30,815 | 197,306 |
| Credit loss provision | (25,079) | 38,501 |
| Fair value remeasurement of earnout consideration | — | (350,000) |
| Fair value remeasurement of warrant liability | — | (3,728,593) |
| Fair value remeasurement of contingent forward contract | (109,492) | — |
| Fair value remeasurement of contingent value rights | (19,179) | (376,085) |
| Loss on extinguishment of debt | 343,471 | — |
| Gain on sale of assets | — | (6,118) |
| Interest and accretion expense | 571,241 | 764,870 |
| Changes in assets and liabilities: | ||
| Trade accounts receivable | 978,228 | 14,894 |
| Inventories | 195,091 | 641,301 |
| Income taxes | 14,615 | 6,162 |
| Other assets, net | 12,186 | (184,227) |
| Accounts payable | (941,847) | (684,194) |
| Accrued compensation and benefits | 20,770 | (48,386) |
| Customer deposits | (443,775) | (293,877) |
| Other accrued liabilities | (62,478) | (191,396) |
| Accrued interest | (1,098,799) | (453,881) |
| Net cash used in operating activities | (3,403,349) | (2,649,280) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Capital expenditures | — | (5,594) |
| Proceeds from the sale of property, plant and equipment | — | 6,118 |
| Net cash provided by investing activities | — | 524 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Payments against loans payable | (9,401,939) | (372,299) |
| Payments related to equity issuance costs | (1,568,099) | (81,012) |
| Proceeds from the issuance of common stock and pre-funded warrants under registered direct offering | 9,473,398 | 1,000,000 |
| Proceeds from the issuance of common stock on the exercise of pre-funded warrants | 11,078 | — |
| Proceeds from the issuance of contingent forward contract | 5,515,525 | — |
| Proceeds from the issuance of common stock under at-the-market offering | 351,372 | — |
| Proceeds from issuance of common stock, net of shares withheld | — | 1,040 |
| Payment of contingent consideration related to acquisition | (389,104) | — |
| Purchase of common stock | — | (2,865) |
| Net cash provided by financing activities | 3,992,231 | 544,864 |
| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 588,882 | (2,103,892) |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD | 1,151,348 | 5,396,343 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD | $1,740,230 | $3,292,451 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
| Interest paid | $1,077,033 | $416,504 |
| NONCASH FINANCING AND INVESTING ACTIVITIES: | ||
| Loss on extinguishment of debt | (343,471) | — |
| Issuance of common stock for the settlement of loss contingencies | 880,756 | — |
|---|---|---|
| Deemed dividend on Convertible Preferred Stock and PIPE Warrants | — | 11,322,639 |
| Conversion of redeemable convertible preferred stock to common stock | — | 8,386,387 |
| The accompanying notes are an integral part of the condensed consolidated financial statements. | ||
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