NewHydrogen, Inc.
For the period ended Dec 31, 2024. Filed Mar 25, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 25, 2025
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What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-K
Period ended 2023-12-31; filed 2024-03-20.
0001493152-24-010662
Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSCurrent report: 10-K
Period ended 2024-12-31; filed 2025-03-25.
0001641172-25-000633
Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 29 previous paragraphs and 31 current paragraphs.
22 unchanged; 7 reworded; 2 added; 0 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (2)
Current report
Selling and Marketing Expenses
Current report
Selling and marketing (“S&M”) expenses increased by $207,573 to $316,624 for the year ended December 31, 2024, compared to $109,051 for the prior year ended December 31, 2023.The increase in S&M expenses was the result of an increase in service providers of $112,749, an increase in website development and maintenance of $52,922, and an increase in ad campaigns and post-production services of 41,902.
Reworded paragraphs (7)
Previous wording
General and administrative (“G&A”) expenses decreased by $(8,016,619) to $2,972,266 for the year ended December 31, 2023, compared to $10,988,885 for the prior period December 31, 2022. This decrease in G&A expenses was the result of a decrease in non-cash stock compensation of $(8,262,368), with an increase in salaries of $72,115, an increase in professional fees of $31,054, an increase in investor relations of $56,610, an increase in insurance of $33,155, with an overall decrease of $52,815 in other G&A expenses.
Current wording
General and administrative (“G&A”) expenses decreased by $(1,731,903) to $1,131,312 for the year ended December 31, 2024, compared to $2,863,215 for the prior period December 31, 2023. This decrease in G&A expenses was the result of a decrease in non-cash stock compensation of $(1,777,959), a decrease in professional fees of $(51,751), and a decrease of $(52,815) in other G&A expenses, with an increase in salaries of $86,218, and an increase in Other G&A expenses of $64,404.
Previous wording
Research and Development (“R&D”) expenses decreased by $(892,605) to $202,878 for the year ended December 31, 2023, compared to $1,095,483 for the prior period ended December 31, 2022. This overall decrease in R&D expenses was the result of a decrease in corporate outside services.
Current wording
Research and Development (“R&D”) expenses increased by $159,660 to $362,538 for the year ended December 31, 2024, compared to $202,878 for the prior period ended December 31, 2023. This overall increase in R&D expenses was the result of an increase in corporate outside services.
Previous wording
Depreciation and amortization expense for the years ended December 31, 2023 and 2022 was $4,106 and $4,214, respectively.
Current wording
Depreciation and amortization expense for the years ended December 31, 2024 and 2023 was $4,106 and $4,106, respectively.
Previous wording
As of December 31, 2023, we had $3,678,942 in working capital as compared to $6,655,953 for the prior year ended December 31, 2022. The decrease in working capital was due primarily to a decrease in cash, prepaid expenses, and accounts payable.
Current wording
As of December 31, 2024, we had $2,118,257 in working capital as compared to $3,678,942 for the prior year ended December 31, 2023. The decrease in working capital was due primarily to a decrease in cash, prepaid expenses, and accounts payable.
Previous wording
During the year ended December 31, 2023, the Company used $1,156,256 of cash for operating activities, as compared to $1,812,013 for the prior year ended December 31, 2022. The decrease in the use of cash for operating activities was a result of a decrease in research and development and professional fees in the year ended December 31, 2023 compared to December 31, 2022. The Company is focused on development of silicon anode additive technology for next generation lithium-ion batteries.
Current wording
During the year ended December 31, 2024, the Company used $1,573,920 of cash for operating activities, as compared to $1,156,256 for the prior year ended December 31, 2023. The increase in the use of cash for operating activities was a result of an increase in professional fees of $51,751, advertising and marketing of $207,573, research and development of $156,660, with an overall increase of $1,320. The Company is focused on development of silicon anode additive technology for next generation lithium-ion batteries.
Previous wording
Cash provided from financing activities during the year ended December 31, 2023 was $0 as compared to $1,000 for the prior year ended December 31, 2022. Our capital needs have primarily been met from the proceeds of convertible debt offerings and equity financing. We are currently in the development stage of our business and have no revenues.
Current wording
Cash provided from financing activities during the year ended December 31, 2024 and 2023 was $0, respectively. Our capital needs have primarily been met from the proceeds of convertible debt offerings and equity financing. We are currently in the development stage of our business and have no revenues.
Previous wording
We believe that our current cash and investment balances will be sufficient to support development activity and general and administrative expenses for the next twenty-four months. Management estimates that it will require additional cash resources during second half of 2025, based upon its current operating plan and condition. We do not expect increased expenses until early 2026 when we ramp up prototyping efforts related to our thermochemical water splitting technology.
Current wording
We believe that our current cash and investment balances will be sufficient to support development activity and general and administrative expenses for the next twelve months. Management estimates that it will require additional cash resources during second half of 2025, based upon its current operating plan and condition. We do not expect increased expenses until early 2026 when we ramp up prototyping efforts related to our thermochemical water splitting technology.