For the year ending 2025-12-31, SDST had $2,567,577 increase in cash & cash equivalents over the period. -$8,280,169 in free cash flow.
| Cash Flow | 2025-12-31 |
|---|---|
| Finance charges | 0 |
| Synthetic atm commitment fee | 0 |
| Change in fair value of safe notes | 0 |
| Change in fair value of convertible notes | 0 |
| Stock based compensation | 7,635,403 |
| Gain on extinguishment of liability | 383,950 |
| Amortization of debt discount and debt issuance costs | 33,068 |
| Loss from change in fair value of common stock make-whole obligation | 247,842 |
| Loss on sale of investments | 179,805 |
| Change in fair value of investment in equity securities | -708,988 |
| Loss on write off of promissory notes and deposit | 564,844 |
| Change in fair value of warrant liability | -1,409,201 |
| Change in fair value of sponsor earnout shares | -528,000 |
| Non-cash marketing expense for proposed stock issuance to vendor | 75,562 |
| Depreciation expense | 3,166 |
| Loss on write off of deferred transaction cost | 30,000 |
| Prepaid expenses and other assets | -69,277 |
| Accounts payable | -106,998 |
| Accrued liabilities and other current liabilities | 328,151 |
| Net loss | -15,723,636 |
| Net cash used in operating activities | -8,275,679 |
| Investment in equity securities | 0 |
| Investment in other long-term assets | 0 |
| Promissory notes issued | 0 |
| Capital project costs | 3,949,608 |
| Land acquisition costs | 16,619 |
| Proceeds from sale of investment in equity securities | 570,255 |
| Purchase of property and equipment | 4,490 |
| Net cash used in investing activities | -3,400,462 |
| Payment of equity issuance costs | 0 |
| Proceeds from short-term loan from related parties (note 16) | 0 |
| Proceeds from investor for issuance of safe notes | 0 |
| Proceeds from exercise of warrants | 0 |
| Proceeds from business combination and issuance of pipe shares | 0 |
| Repayment of sponsor promissory notes | 0 |
| Proceeds from stock issuance, net of repurchases | 2,133,697 |
| Proceeds from issuance of notes payable to related parties | 250,000 |
| Repayment of notes payable to related parties | 250,000 |
| Repayment of short-term loan from related parties (note 16) | 2,000,000 |
| Proceeds from short-term loan | 337,244 |
| Repayment of short-term loan | 1,940,393 |
| Proceeds from advance received from pipe investor | 125,000 |
| Proceeds from public offerings | 10,270,400 |
| Proceeds from warrant inducement exercises | 2,971,040 |
| Transaction costs associated with public offerings and warrant inducement | 1,343,832 |
| Proceeds from issuance of convertible notes and warrants, net of transaction costs | 3,792,500 |
| Deferred transaction costs paid | 25,000 |
| Transaction costs associated with issuance of common stock upon warrant exchange | 75,000 |
| Repurchase of unvested shares | 1,593 |
| Payments for fractional share adjustment due to reverse stock split | 345 |
| Net cash provided by financing activities | 14,243,718 |
| Net increase/(decrease) in cash | 2,567,577 |
| Net increase/(decrease) in cash | 2,567,577 |
| Cash at the beginning of the period | 912,574 |
| Cash at the end of the period | 3,480,151 |
Stardust Power Inc. (SDST)
Stardust Power Inc. (SDST)