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 Operations and Comprehensive Loss
| SUNATION ENERGY, INC. | ||
|---|---|---|
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||
| (Unaudited) | ||
| 2025 | 2024 | |
| Sales | $12,636,638 | $13,219,197 |
| Cost of sales | 8,205,313 | 8,413,749 |
| Gross profit | 4,431,325 | 4,805,448 |
| Operating expenses: | ||
| Selling, general and administrative expenses | 6,039,298 | 6,629,027 |
| Amortization expense | 559,375 | 709,375 |
| Fair value remeasurement of SUNation earnout consideration | — | (350,000) |
| Total operating expenses | 6,598,673 | 6,988,402 |
| Operating loss | (2,167,348) | (2,182,954) |
| Other (expense) income: | ||
| Investment and other income | 48,165 | 45,841 |
| Gain on sale of assets | — | 6,118 |
| 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 |
| Financing fees | (576,594) | — |
| Interest expense | (571,240) | (764,870) |
| Loss on debt extinguishment | (343,471) | — |
| Other (expense) income, net | (1,314,469) | 3,391,767 |
| Net (loss) income before income taxes | (3,481,817) | 1,208,813 |
| Income tax expense | 14,615 | 6,162 |
| Net (loss) income | (3,496,432) | 1,202,651 |
| Deemed dividend on extinguishment of Convertible Preferred Stock | — | (751,125) |
| Deemed dividend on modification of PIPE Warrants | — | (10,571,514) |
| Net loss attributable to common shareholders | $(3,496,432) | $(10,119,988) |
| Basic net loss per share(1) | $(106.71) | $(38,414.84) |
| Diluted net loss per share(1) | $(106.71) | $(38,414.84) |
| Weighted Average Basic Shares Outstanding(1) | 32,766 | 263 |
| Weighted Average Dilutive Shares Outstanding(1) | 32,766 | 263 |
| (1) Prior period results have been adjusted to reflect the reverse stock split of the common stock at a ratio of 1-for-200 that became effective April 21, 2025, the reverse stock split of the common stock at a ratio of 1-for-50 that became effective October 17, 2024 and the reverse stock split of the common stock at a ratio of 1-for-15 that became effective June 12, 2024. See Note 1, "Nature of Operations," for further details. | ||
| The accompanying notes are an integral part of the condensed consolidated financial statements. | ||
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