SUNation Energy, Inc.

For the period ended Jun 30, 2025. Filed Aug 15, 2025.

About this filing

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.

Jun 30, 2025 · Filed Aug 15, 2025

SUNE$2.13+4.9%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Cash Flows

SUNATION ENERGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
	Six Months Ended June 30
	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$(13,103,847)	$(5,731,364)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,252,744	1,588,564
Share based compensation	53,276	185,723
Credit loss provision	(19,316)	65,864
Fair value remeasurement of earnout consideration	—	(800,000)
Fair value remeasurement of warrant liability	7,531,044	(461,022)
Fair value remeasurement of embedded derivative liability	—	1,055,600
Fair value remeasurement of contingent forward contract	(899,080)	—
Fair value remeasurement of contingent value rights	(25,450)	(492,860)
Loss on extinguishment of debt	343,471	—
Gain on sale of assets	—	(6,118)
Interest and accretion expense	212,592	1,500,503
Changes in assets and liabilities:
Trade accounts receivable	1,601,897	202,476
Inventories	385,677	327,540
Income taxes	(20,847)	(69,971)
Other assets, net	534,878	(264,877)
Accounts payable	(489,960)	822,503
Accrued compensation and benefits	403,470	(436,080)
Customer deposits	(336,485)	(774,524)
Other accrued liabilities	(323,130)	758,737
Accrued interest	(634,467)	(896,420)
Net cash used in operating activities	(3,533,533)	(3,425,726)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(8,817)	(17,579)
Proceeds from the sale of property, plant and equipment	—	6,118
Net cash used in investing activities	(8,817)	(11,461)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments against loans payable	(8,514,664)	(748,647)
Payments against related party loans payable	(1,038,279)	—
Payments related to debt issuance costs	(38,613)	—
Payments related to equity issuance costs	(2,128,038)	(81,012)
Proceeds from the issuance of common stock and pre-funded warrants under registered direct offering	9,690,790	1,000,000
Proceeds from the issuance of common stock on the exercise of pre-funded warrants	11,078	—
Proceeds from the issuance of Series A and Series B warrants	10,298,134	—
Proceeds from the issuance of common stock under at-the-market offering	351,372	—
Proceeds from the issuance of Series B preferred stock	—	15
Payments for the termination of Series A warrants	(267,391)	—
Proceeds from issuance of common stock, net of shares withheld	—	9,773
Cash in lieu payment on fractional shares under reverse stock split	—	(1,132)
Payment of contingent consideration related to acquisition	(2,500,000)	—
Purchase of common stock	—	(6,098)
Net cash provided by financing activities	5,864,389	172,899

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	2,322,039	(3,264,288)
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	$3,473,387	$2,132,055
Income taxes paid	$49,698	$69,500
Interest paid	1,139,593	821,306
NONCASH FINANCING AND INVESTING ACTIVITIES:
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	—	15,277,055
The accompanying notes are an integral part of the condensed consolidated financial statements.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.