For the year ending 2025-12-31, SMXT had $7,183,736 increase in cash & cash equivalents over the period.
| Cash Flow | 2025-12-31 |
|---|---|
| Other income (expense), net | -1,163,670 |
| Income (loss) before income taxes | -7,459,943 |
| Income tax provision (benefit) | -1,134,575 |
| Net income (loss) | -6,325,368 |
| Depreciation and amortization expense | 61,929 |
| Amortization of loan discounts on customer loan receivables | 0 |
| Amortization of convertible note discount and debt issuance costs | 102,844 |
| Amortization of operating lease right-of-use assets | 1,540,329 |
| Provision for (recovery of) credit losses and loan losses | -47,763 |
| Provision for receivables from spic | 659,276 |
| Provision for excess and obsolete inventories | 73,701 |
| Provision for warranty and production guaranty | 551,873 |
| Equity in income of investment in solar project companies in excess of 0 distribution received | -253,524 |
| Deferred income tax provision | -1,400,381 |
| Loss (gain) on disposal of property and equipment | -144 |
| Gain on debt extinguishment related to convertible notes | 13,410 |
| Loss on debt extinguishment related to promissory notes | -989,629 |
| Gain on early termination of lease | 0 |
| Stock-based compensation | 520,721 |
| Goodwill impairment | 0 |
| Accounts receivable | 8,695,297 |
| Contract assets | -45,633,504 |
| Receivable from spic | 1,369,322 |
| Customer loans receivable | 1,326,521 |
| Inventories | 832,691 |
| Other receivables and current assets | 284,385 |
| Other assets | -17,138 |
| Accounts payable | 56,900,091 |
| Operating lease liabilities | -1,571,085 |
| Accrued expenses and other payables | 1,918,799 |
| Other liabilities | -476,860 |
| Net cash provided by (used in) operating activities | 498,049 |
| Purchase of short-term investments | 0 |
| Principal repayment on debt investments | -5,838,748 |
| Proceeds from disposal of property and equipment | 0 |
| Net cash provided by (used in) investing activities | 5,838,748 |
| Accrued legal settlement | 345,536 |
| Proceeds from private placement sale of common stock | 4,752,535 |
| Gross proceeds from initial public offering, net of underwriting fees | 0 |
| Share issuance costs | 0 |
| Ipo offering costs paid | 0 |
| Proceeds from note issuances | 0 |
| Principal payments on convertible notes | 3,258,658 |
| Net cash provided by (used in) financing activities | 1,148,341 |
| Effect of exchange rate | -301,402 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 7,183,736 |
| Cash, cash equivalents, and restricted cash, beginning of year | 1,063,077 |
| Cash, cash equivalents, and restricted cash, end of year | 8,246,813 |
SolarMax Technology, Inc. (SMXT)
SolarMax Technology, Inc. (SMXT)