NewHydrogen, Inc.

Previous wording

Management reviewed currently issued pronouncements during the six months ended June 30, 2025, and does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying condensed unaudited financial statements.

Current wording

Management reviewed currently issued pronouncements during the nine months ended September 30, 2025, and does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying condensed unaudited financial statements.

Previous wording

Selling and marketing (“S&M”) expenses increased by $55,371 to $200,571 for the six months ended June 30, 2025, compared to $145,200 for the prior period ended June 30, 2024. The primary increase in (S&M) expenses was the result of an increase in service providers

Current wording

Selling and marketing (“S&M”) expenses increased by $11,924 to $95,463 for the three months ended September 30, 2025, compared to $83,539 for the prior period ended September 30, 2024. The primary increase in S&M expenses was the result of an increase in spending on advertising.

Previous wording

General and administrative (“G&A”) expenses increased by $63,258 to $648,506 for the six months ended June 30, 2025, compared to $585,248 for the prior period ended June 30, 2024. The primary increase overall was an increase in professional fees of $56,534, an increase in non-cash stock compensation of $18,108, and an overall decrease in other expenses.

Current wording

General and administrative (“G&A”) expenses increased by $13,454 to $281,248 for the three months ended September 30, 2025, compared to $267,794 for the prior period ended September 30, 2024. The overall increase was an increase in insurance expense.

Previous wording

Research and Development (“R&D”) expenses increased by $58,928 to $147,867 for the three months ended June 30, 2025, compared to $88,939 for the prior period ended June 30, 2024. This overall increase of $56,828 in R&D expenses was the result of an increase in outside research fees and consultant cost.

Current wording

Research and Development (“R&D”) expenses increased by $14,547 to $104,689 for the three months ended September 30, 2025, compared to $90,142 for the prior period ended September 30, 2024. This overall increase of $14,547 in R&D expenses was the result of an increase in consultant costs.

Previous wording

Depreciation and amortization expense for the three months ended June 30, 2025 and 2024 was $820 and $1,027, respectively.

Current wording

Depreciation and amortization expense for the three months ended September 30, 2025 and 2024 was $821 and $1,027, respectively.

Previous wording

Other income and (expenses) decreased by $329 to $305 for the six months ended June 30, 2025, compared to $634 for the prior period ended June 30, 2024. The decrease in other income and (expenses) was the result of an increase in interest income of $169. The decrease in other income and (expenses) was primarily due to the net change in interest income.

Current wording

Other income and (expenses) decreased by $3,636 to $125 for the three months ended September 30, 2025, compared to $3,761 for the prior period ended September 30, 2024. The decrease in other income and (expenses) was the result of a decrease in interest income of $3,636.

Previous wording

Our net loss for the three months ended June 30,2025 was $623,704, compared to $438,742 for the prior period ended June 30,2024. The Company has not generated any revenues. The majority of the decrease in net loss was due to an overall decrease in operating expenses and non-cash expense associated with the net change in stock option expense in the current period. These estimates were based on multiple inputs, including the market price of our stock, interest rates, our stock price volatility, variable conversion prices based on market prices as defined in the respective agreements and probabilities of certain outcomes based on management projections. These inputs were subject to significant changes from period to period and to management’s judgment; therefore, the estimated fair value of the stock options fluctuate, and the fluctuation may be material. The Company has not generated any revenues.

Current wording

Our net loss for the three months ended September 30,2025 was $482,096, compared to $438,741 for the prior period ended September 30,2024. The Company has not generated any revenues. The majority of the decrease in net loss was due to an overall decrease in operating expenses and non-cash expense associated with the net change in stock option expense in the current period. These estimates were based on multiple inputs, including the market price of our stock, interest rates, our stock price volatility, variable conversion prices based on market prices as defined in the respective agreements and probabilities of certain outcomes based on management projections. These inputs were subject to significant changes from period to period and to management’s judgment; therefore, the estimated fair value of the stock options fluctuate, and the fluctuation may be material. The Company has not generated any revenues.

Previous wording

Selling and marketing (“S&M”) expenses increased by $23,863 to $94,092 for the three months ended June 30, 2025, compared to $70,229 for the prior period ended June 30, 2024. The primary increase in (S&M) expenses was the result of an increase in service providers.

Current wording

Selling and marketing (“S&M”) expenses increased by $67,295 to $296,034 for the nine months ended September 30, 2025, compared to $228,739 for the prior period ended September 30, 2024. The primary increase in S&M expenses was the result of an increase in service providers.

Previous wording

General and administrative (“G&A”) expenses increased by $102,209 to $381,053 for the three months ended June 30, 2025, compared to $278,844 for the prior period ended June 30, 2024. The primary increase overall was an increase in professional fees of $56,534, an increase in non-cash stock compensation of $18,108, and an overall decrease in other expenses.

Current wording

General and administrative (“G&A”) expenses increased by $78,016 to $929,754, for the nine months ended September 30, 2025, compared to $851,738 for the prior period ended September 30, 2024. The primary increase was an increase in professional fees of $80,309, with an overall decrease in other expenses of $2,293.

Previous wording

Research and Development (“R&D”) expenses increased by $71,507 to $249,385 for the six months ended June 30, 2025, compared to $177,878 for the prior period ended June 30, 2024. This increase in R&D expenses was the result of an increase in outside research fees of $22,407 and consultant cost of $47,000, overall increase in materials and supplies of $2100.

Current wording

Research and Development (“R&D”) expenses increased by $86,053 to $354,074 for the nine months ended September 30, 2025, compared to $268,021 for the prior period ended September 30, 2024. This increase in R&D expenses was the result of an increase in consultant services of $147,250, with an overall decrease of $61,197 in other expenses.

Previous wording

Depreciation and amortization expense for the six months ended June 30, 2025 and 2024 was $1,641 and $2,054, respectively.

Current wording

Depreciation and amortization expense for the nine months ended September 30, 2025 and 2024 was $2,462 and $3,080, respectively.

Previous wording

Other income and (expenses) decreased by $169 to $128 for the three months ended June 30, 2025, compared to $297 for the prior period ended June 30, 2024. The decrease in other income and (expenses) was the result of an increase in interest income of $169. The decrease in other income and (expenses) was primarily due to the net change in interest income.

Current wording

Other income and (expenses) decreased by $3,965 to $430 for the nine months ended September 30, 2025, compared to $4,395 for the prior period ended September 30, 2024. The decrease in other income and (expenses) was primarily due to the net change in interest income.

Previous wording

Our net loss for the six months ended June 30,2025 was $1,099,798, compared to $909,746 for the prior period ended June 30,2024. The Company has not generated any revenues. The majority of the decrease in net loss was due to an overall decrease in operating expenses and non-cash expense associated with the net change in stock option expense in the current period. These estimates were based on multiple inputs, including the market price of our stock, interest rates, our stock price volatility, variable conversion prices based on market prices as defined in the respective agreements and probabilities of certain outcomes based on management projections. These inputs were subject to significant changes from period to period and to management’s judgment; therefore, the estimated fair value of the stock options fluctuate, and the fluctuation may be material. The Company has not generated any revenues.

Current wording

Our net loss for the nine months ended September 30, 2025 was $1,581,894, compared to $1,347,183 for the prior period ended September 30,2024. The Company has not generated any revenues. The majority of the decrease in net loss was due to an overall decrease in operating expenses and non-cash expense associated with the net change in stock option expense in the current period. These estimates were based on multiple inputs, including the market price of our stock, interest rates, our stock price volatility, variable conversion prices based on market prices as defined in the respective agreements and probabilities of certain outcomes based on management projections. These inputs were subject to significant changes from period to period and to management’s judgment; therefore, the estimated fair value of the stock options fluctuate, and the fluctuation may be material. The Company has not generated any revenues.

Previous wording

The unaudited 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 unaudited 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 June 30, 2025, we did not generate any revenues, and recognized a net loss of $1,099,798, due to a change in operating expenses and cash of $1,100,906 used in operations. As of June 30, 2025, we had working capital of $1,150,677 and a shareholders’ deficit of $179,042,345.

Current wording

The accompanying unaudited condensed financial statements as of September 30, 2025, 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 unaudited condensed financial statements do not reflect any adjustments that might result if we are unable to continue as a going concern. During the nine months ended September 30, 2025, we did not generate any revenues, and recognized a net loss of $1,581,894, due to a change in operating expenses and cash of $1,413,695 used in operations. As of September 30, 2025, we had working capital of $1,318,162 and a shareholders’ deficit of $179,524,441.

Previous wording

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. No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, it may contain undue restrictions on our operations, in the case of debt-financing or cause substantial dilution for our stockholders, in case of equity financing.

Current wording

Management believes that we will be able to continue to raise funds through the sale of our securities to existing and new investors, including through the use of its equity financing agreement entered into with GHSManagement 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. No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, it may contain undue restrictions on our operations, in the case of debt-financing or cause substantial dilution for our stockholders, in case of equity financing.

Previous wording

As of June 30, 2025, we had working capital of $1,150,677 compared to $2,102,308 for the year ended December 31, 2024. This decrease in working capital was due primarily to a decrease in cash.

Current wording

As of September 30, 2025, we had working capital of $1,318,162 compared to $2,102,307 for the year ended December 31, 2024. This decrease in working capital was due primarily to a decrease in cash.

Previous wording

During the six months ended June 30, 2025, we used $1,003,615 of cash for operating activities, as compared to $824,205 for the prior period ended June 30, 2024. The increase in the use of cash for operating activities for the current period was a result of an increase in research and development cost, and advertising and marketing.

Current wording

During the nine months ended September 30, 2025, we used $1,413,695 in cash for operating activities, as compared to $1,189,145 for the prior period ended September 30, 2024. The increase in the use of cash for operating activities for the current period was a result of an increase in research and development cost, and advertising and marketing.

Previous wording

Net cash provided from equity financing activities for the six months ended June 30, 2025 and June 30, 2024 was $0. There was no equity financing during the current or prior period. Our capital needs have primarily been met from the proceeds of the sale of our securities, as we currently have not generated any revenues.

Current wording

Net cash provided from equity financing activities for the nine months ended September 30, 2025 was $615,445, and for the prior period September 30, 2024 was $0. There was no equity financing during the prior period. Our capital needs have primarily been met from the proceeds of the sale of our securities, as we currently have not generated any revenues.