Financial Performance - Total revenues for the three months ended December 31, 2022, were $567,105, a decrease of 45.3% compared to $1,035,127 for the same period in 2021[15] - Gross profit for the six months ended December 31, 2022, was $339,822, down 17.5% from $412,031 in the same period of 2021[18] - The net loss for the three months ended December 31, 2022, was $987,529, significantly reduced from a net loss of $4,029,854 in the same period of 2021[15] - Revenue for the six months ended December 31, 2022, was primarily generated from a small number of wholesale dealers, with three dealers accounting for approximately 58% of total revenues[30] Cash and Assets - Cash and cash equivalents increased to $3,422,697 as of December 31, 2022, compared to $330,385 at the end of June 30, 2022[13] - Total current assets rose to $7,249,278 as of December 31, 2022, compared to $4,125,332 as of June 30, 2022[13] - As of December 31, 2022, total inventory was $1,738,936, down from $2,238,208 as of June 30, 2022, representing a decrease of approximately 22.3%[29] - The allowance for doubtful accounts increased to $80,000 as of December 31, 2022, compared to zero as of June 30, 2022[31] - The company has no financial assets or liabilities measured and recorded at fair value on a recurring basis as of December 31, 2022[43] Liabilities and Equity - Total liabilities decreased to $47,367 as of December 31, 2022, from $1,508,108 as of June 30, 2022[13] - The company completed the conversion of convertible notes payable into a total of 9,671,867 shares of common stock during the public offering in August 2022[47] - The gross proceeds from the public offering were $4,485,000, with a total of 1,121,250 Units sold at an offering price of $4.00 per Unit[51] - The company issued 1,121,250 shares in an underwritten public offering, raising $3,780,405[21] Research and Development - Research and development expenses for the six months ended December 31, 2022, were $28,646, a decrease from $66,503 in the same period of 2021[18] - Research and development costs are expensed as incurred, indicating a focus on innovation and product development[37] Stock Compensation - The company recognized stock compensation expense of $1,159,882 for RSU awards in the six months ended December 31, 2022[59] - Total non-cash stock compensation expense recognized in the six months ended December 31, 2022, amounted to $1,311,111[60] - The company has made awards totaling 450,000 shares for RSUs granted to two executives under the 2019 Stock Plan as of December 31, 2022[62] - The company issued 50,000 shares to the CEO upon achieving Milestone 1 related to uplisting of common stock, while Milestone 2 was not achieved[57] - The CFO received 250,000 shares for achieving Milestone 1, with an additional 50,000 shares contingent on filing the Form 10-K by September 29, 2023[58] - As of January 1, 2023, the company issued a total of 300,000 shares to executive officers for achieving Milestone 1 under their RSU awards[66] Business Operations - The company is focused on expanding its Energy Storage Systems (ESS) sales through wholesale customers, primarily in California and other states[26] - The company anticipates having sufficient cash resources to operate its business for at least the next 12 months from the date the financial statements are issued[46] - The company incentivizes wholesale dealers to exceed quarterly sales targets by granting shares of common stock[64] - The company secured a sublease agreement requiring monthly rental payments of $10,350, which was renewed for another year effective January 1, 2023[63] Legal Matters - The company is not currently involved in any legal proceedings[65]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Under Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended September 30, 2022 or ☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ________________ to ______________ Commission File Number: 001-41447 NeoVolta, Inc. (Exact name of registrant as specified in its charter) Nevada 82-5299 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C., 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended June 30, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-41447 NeoVolta, Inc. (Exact name of registrant as specified in its charter) Nevada 82-5299263 (State or other jurisdiction of incorporation) (I.R.S. Employer Identificat ...