For the quarter ending 2025-09-30, SMXT had $3,805,533 increase in cash & cash equivalents over the period.
| Cash Flow | 2025-09-30 | 2025-06-30 |
|---|---|---|
| (gain) loss on debt extinguishment | - | -313,953 |
| Gain on early termination of lease | - | 0 |
| (gain) loss on disposal of property and equipment | - | -65,143 |
| Net income (loss) | -2,258,105 | -3,195,018 |
| Depreciation and amortization expense | 12,920 | 35,800 |
| Amortization of loan discounts on customer loan receivables | 0 | 0 |
| Amortization of convertible note discount and debt issuance costs | 31,016 | 56,143 |
| Amortization of operating lease right-of-use assets | 387,955 | 758,465 |
| Provision for (recovery of) credit losses and loan losses | -21,007 | -38,517 |
| Provision for excess and obsolete inventories | -1,859 | 3,500 |
| Provision for warranty and production guaranty | 180,638 | 106,492 |
| Equity in loss (income) of investment in excess of distribution received | -169,303 | -129,746 |
| Deferred income tax provision | -675,791 | -188,733 |
| (gain) loss on disposal of property and equipment | 65,287 | - |
| (gain) loss on debt extinguishment | 976,219 | - |
| Gain on early termination of lease | 0 | - |
| Stock-based compensation | 520,721 | 0 |
| Asset impairment | 0 | - |
| Accounts receivable | -9,101,807 | - |
| Contract assets | -9,799,158 | - |
| Receivables from spic and project companies | 2,251,976 | -208,521 |
| Customer loans receivable | 1,687,998 | -686,330 |
| Inventories | -311,038 | 287,426 |
| Contract assets | - | 38,263 |
| Other receivables and current assets | 221,157 | - |
| Accounts receivable | - | -818,816 |
| Other assets | -94,153 | -8,756 |
| Accounts payable | 22,157,306 | 1,178,687 |
| Other receivables and current assets | - | 335,418 |
| Operating lease liabilities | -393,497 | -769,551 |
| Accrued expenses and other payables | -98,113 | 910,591 |
| Other liabilities | 172,028 | -548,957 |
| Net cash provided by (used in) operating activities | 3,397,371 | -380,432 |
| Purchase of short-term investments | 0 | 0 |
| Principal repayment on debt investments | -500,609 | -137,509 |
| Proceeds from disposal of property and equipment | 0 | 0 |
| Net cash provided by (used in) investing activities | 500,609 | 137,509 |
| Accrued legal settlement | 138,135 | 138,134 |
| Net proceeds from initial public offering | 0 | 0 |
| Proceeds from private placement sale of common stock | 4,330,000 | - |
| Repayment on equipment capital lease | - | 8,810 |
| Proceeds from unsecured loan | 0 | 0 |
| Principal payment on convertible notes | 2,308,658 | 250,000 |
| Proceeds from private placement sale of common stock | - | 1,950,000 |
| Payment on equipment capital lease | 13,277 | - |
| Net cash provided by (used in) financing activities | -71,260 | 1,553,056 |
| Effect of exchange rate | -21,187 | -179,004 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 3,805,533 | 1,131,129 |
| Cash and cash equivalents at beginning of period | 1,063,077 | - |
| Cash and cash equivalents at end of period | 5,999,739 | - |
SolarMax Technology, Inc. (SMXT)
SolarMax Technology, Inc. (SMXT)