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NewHydrogen Inc (NEWH-4.52%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on developing a green hydrogen production technology using water and heat rather than electricity, aiming to reduce the cost of green hydrogen.
The company reported a net loss of $1,809,962 for the year ended December 31, 2024, compared to a net loss of $3,177,532 in the previous year.
Selling and marketing expenses increased to $316,624 from $109,051, while general and administrative expenses decreased to $1,131,312 from $2,863,215.
Research and development expenses rose to $362,538 from $202,878, reflecting increased corporate outside services.
The company had $2,104,521 in cash as of December 31, 2024, down from $3,678,441 the previous year, with a working capital of $2,118,257.
NewHydrogen's financial statements include a going concern warning, highlighting the need for additional capital to continue operations.
The company is developing ThermoLoop™, a technology aimed at producing low-cost green hydrogen, with ongoing research efforts at UC Santa Barbara.
No revenues were reported for the year, and the company remains in a development stage, relying on equity financing to meet capital needs.
The filing outlines the company's stock compensation plans, with 560,000,000 stock options outstanding as of December 31, 2024.
NewHydrogen's common stock is quoted on the OTC Pink market under the ticker symbol 'NEWH'.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the NewHydrogen Inc annual 10-K report dated March 25, 2025. To report an error, please email earnings@qz.com.