8-K
SUNHYDROGEN, INC. (HYSR)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The SecuritiesExchange Act of 1934
Date of Report (Date of earliest event reported):July 19, 2022
SUNHYDROGEN, INC.
(Exact name of registrant as specified in its charter)
| Nevada | 000-54437 | 26-4298300 |
|---|---|---|
| (State or other jurisdiction<br><br>of incorporation) | (Commission File Number) | (IRS Employer<br><br>Identification No.) |
10 E. Yanonali, Suite 36
Santa Barbara, CA 93101
(Address of principal executive offices and Zip Code)
Registrant’s telephone number, including area code:
(805) 966-6566
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Not applicable | Not applicable | Not applicable |
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b2 of the Securities Exchange Act of 1934 (§240.12b2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On July 19, 2022, SunHydrogen, Inc. (the “Company”) issued a press release announcing certain aspects of the Company’s financial position as of June 30, 2022. The press release is attached hereto as Exhibit 99.1.
In accordance with General Instruction B.2 of Form 8-K, the information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit<br><br>Number | Description |
|---|---|
| 99.1 | Press Release |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SUNHYDROGEN, INC. | |
|---|---|
| Date: July 20, 2022 | /s/ Timothy Young |
| Timothy Young | |
| Chief Executive Officer |
2
Exhibit 99.1
SunHydrogen Well-Capitalized for Nanoparticle-Based Green HydrogenTechnology’s Continued Development Toward Commercialization
| ● | Company will also begin pursuing strategic investments in complementarytechnologies |
|---|
SANTA BARBARA, CA, July 19, 2022 (GLOBE NEWSWIRE) -- SunHydrogen, Inc. (OTC: HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and water, today shared an update detailing the Company’s financial position following the completion of the 2022 fiscal year on June 30.
SunHydrogen reports a financial position of $52 million in cash and cash equivalents on its balance sheet as of June 30, 2022, a number that instills confidence in its executive and scientific teams alike as the Company continues moving toward the commercialization of its nanoparticle-based green hydrogen technology.
SunHydrogen is currently at a critical developmental juncture with the goal of a production-quality prototype set for the end of 2022.
“Being well-capitalized at this time not only allows us to feel confident about seeing our technology through to commercial viability, but it also allows us to begin exploring strategic investments in the hydrogen space,” said SunHydrogen’s CEO Tim Young.
“SunHydrogen is actively pursuing opportunities for investment and acquisition of complementary hydrogen technologies,” Mr. Young continued. “Amid the widespread market downturn, we are fortunate to have the resources to fully support our own technology and simultaneously maximize our impact in this fast-growing industry.”
The Company’s investment strategy will be led by Chief Operating Officer Woosuk Kim, who formerly served as Senior Vice President and Head of the M&A Group at Seoul-based SK Innovation. Mr. Kim has executed over $4 billion in mergers, acquisitions and joint ventures throughout his career.
SunHydrogen’s full annual report will be available in accordance with SEC regulations in September 2022.
About SunHydrogen,Inc.
SunHydrogen is developing a breakthrough, low-cost technology to make renewable hydrogen using sunlight and any source of water, including seawater and wastewater. The only byproduct of hydrogen fuel is pure water, unlike hydrocarbon fuels such as oil, coal and natural gas that release carbon dioxide and other contaminants into the atmosphere when used. By optimizing the science of water electrolysis at the nano-level, our low-cost nanoparticles mimic photosynthesis to efficiently use sunlight to separate hydrogen from water, ultimately producing environmentally friendly renewable hydrogen. Using our low-cost method to produce renewable hydrogen, we intend to enable a world of distributed hydrogen production for renewable electricity and hydrogen fuel cell vehicles. To learn more about SunHydrogen, please visit our website at www.SunHydrogen.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties and other factors, known and unknown, including the risk factors described from time to time in the Company’s reports to the Securities and Exchange Commission. The forward-looking statements contained herein are applicable only as of the date on which they are made, and the Company does not assume any obligation to update any forward-looking statements.
Press Contact:
info@sunhydrogen.com