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SolarWindow Technologies, Inc. has submitted its 10-K filing for the fiscal year ended August 31, 2024.
The filing outlines the company's ongoing focus on developing its LiquidElectricity® Coatings, which are designed to generate electricity from light when applied to various surfaces.
SolarWindow reported a net loss of $3,455,415 for the fiscal year, compared to a net loss of $2,396,395 in the previous year. The increase in net loss is attributed to higher consulting fees and stock compensation expenses.
The company continues to operate without generating revenue and relies on its cash reserves, which stood at $4,249,446 as of August 31, 2024, to fund its operations.
SolarWindow has been actively pursuing research and development activities, including collaborations with the National Renewable Energy Laboratory (NREL) under a Cooperative Research and Development Agreement.
The company recognized an impairment of $683,950 related to in-process equipment that no longer provides future benefit.
SolarWindow's strategic focus includes seeking commercial partnerships and licensing opportunities to facilitate the commercialization of its technologies.
The company has identified several market opportunities for its LiquidElectricity® Coatings, including applications in architecture, automotive, and agrivoltaics.
SolarWindow's financial position includes net operating loss carryforwards of approximately $40,949,000, which may be subject to limitations under U.S. tax laws.
The company's directors and executive officers include Amit Singh as President and CEO, Bob Levine, Joseph Sierchio, and Timothy Bullinger as directors, and Justin Frere as Interim CFO.
The filing also details potential risks related to the company's financial condition, technology development, and competition, as well as the need for additional financing to continue operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the SolarWindow Technologies Inc annual 10-K report dated November 20, 2024. To report an error, please email earnings@qz.com.