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SolarWindow Technologies Inc (WNDW0.00%) has submitted its 10-Q filing for the quarterly period ended November 30, 2024.
The filing indicates that the company has not generated any revenue since its inception and continues to incur losses. For the three months ended November 30, 2024, SolarWindow reported a net loss of $551,092 from continuing operations, compared to a net loss of $499,502 for the same period in 2023.
Operating expenses for the quarter totaled $595,131, which includes $457,952 in selling, general, and administrative expenses and $137,179 in research and development costs. Stock-based compensation expenses increased to $51,563 from $23,215 in the prior year.
Cash and cash equivalents at the end of the period were $721,879, down from $1,249,446 at the end of the previous quarter. The company also held short-term investments of $3,000,000, resulting in total cash and short-term investments of $3,721,879.
The company has a working capital of $4,172,104 as of November 30, 2024. Management believes that current cash reserves are sufficient to meet operational needs over the next twelve months, but acknowledges the potential need for additional funding to commercialize its electricity-generating coatings.
SolarWindow Technologies continues to develop its LiquidElectricity® Coatings, which are designed to generate electricity from various light sources when applied to glass and plastic surfaces. The company is pursuing partnerships and licensing agreements to advance commercialization.
The filing notes that the company has discontinued operations in South Korea and is in the process of dissolving its Korean subsidiary. The financial results of the Korean subsidiary are presented as discontinued operations in the financial statements.
SolarWindow Technologies has engaged Canadian counsel to address a Cease Trade Order issued by the British Columbia Securities Commission due to delayed filings. The company is working towards revocation of the order.
The company remains focused on research and development, with ongoing collaborations, including a Cooperative Research and Development Agreement with the National Renewable Energy Laboratory to advance its technology.
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 quarterly 10-Q report dated January 14, 2025. To report an error, please email earnings@qz.com.