For the quarter ending 2026-03-31, SMXT had -$3,658,927 decrease in cash & cash equivalents over the period.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Other income (expense), net | - | -1,163,670 | - | - |
| Income (loss) before income taxes | - | -7,459,943 | - | - |
| Gain on early termination of lease | - | - | - | 0 |
| Income tax provision (benefit) | - | -1,134,575 | - | - |
| (gain) loss on disposal of property and equipment | - | - | - | -65,143 |
| Net income (loss) | -306,684 | -872,245 | -2,258,105 | -3,195,018 |
| Loss (gain) on disposal of property and equipment | - | -144 | - | - |
| Depreciation and amortization expense | 13,069 | 13,209 | 12,920 | 35,800 |
| (gain) loss on disposal of property and equipment | - | - | 65,287 | - |
| Gain on debt extinguishment related to convertible notes | - | 13,410 | - | - |
| Amortization of loan discounts on customer loan receivables | - | - | 0 | 0 |
| (gain) loss on debt extinguishment | - | - | 976,219 | - |
| Loss on debt extinguishment related to promissory notes | - | -989,629 | - | - |
| Amortization of loan discounts on customer loan receivables | - | -87,159 | 31,016 | 56,143 |
| Gain on early termination of lease | - | 0 | 0 | - |
| Amortization of convertible note discount and debt issuance costs | 22,328 | 102,844 | - | - |
| Stock-based compensation | - | 0 | 520,721 | 0 |
| Amortization of operating lease right-of-use assets | 263,180 | 393,909 | 387,955 | 758,465 |
| Provision for (recovery of) credit losses and loan losses | -71,996 | 11,761 | -21,007 | -38,517 |
| Provision for receivables from spic | - | 659,276 | - | - |
| Provision for excess and obsolete inventories | 0 | 72,060 | -1,859 | 3,500 |
| Provision for warranty and production guaranty | 141,846 | 264,743 | 180,638 | 106,492 |
| Equity in loss (income) of investment in excess of distribution received | 239,650 | 45,525 | -169,303 | -129,746 |
| Deferred income tax provision | -31,452 | -535,857 | -675,791 | -188,733 |
| Asset impairment | - | - | 0 | - |
| Contract assets | - | - | - | 38,263 |
| Goodwill impairment | - | 0 | - | - |
| (gain) loss on debt extinguishment | 354,184 | - | - | -313,953 |
| Accounts receivable | -657,382 | 17,797,104 | -8,282,991 | -818,816 |
| Contract assets | -7,682,343 | -35,834,346 | -9,799,158 | - |
| Receivable from spic | - | -674,133 | 2,251,976 | -208,521 |
| Inventories | - | - | -311,038 | - |
| Other liabilities | - | - | 172,028 | -548,957 |
| Other receivables and current assets | - | - | 221,157 | - |
| Other assets | - | - | -94,153 | -8,756 |
| Customer loans receivable | 332,808 | 324,853 | 1,687,998 | -686,330 |
| Inventories | -343,619 | 545,265 | - | 287,426 |
| Other receivables and current assets | 2,637,586 | -51,033 | - | 335,418 |
| Other assets | -28,685 | -17,138 | - | - |
| Accounts payable | 1,402,459 | 33,564,098 | 22,157,306 | 1,178,687 |
| Operating lease liabilities | -240,336 | -408,037 | -393,497 | -769,551 |
| Accrued expenses and other payables | 3,612,303 | 1,106,321 | -98,113 | 910,591 |
| Other liabilities | -233,845 | -476,860 | - | - |
| Net cash provided by (used in) operating activities | -4,187,144 | -2,518,890 | 3,397,371 | -380,432 |
| Proceeds from disposal of property and equipment | - | 0 | 0 | 0 |
| Purchase of short-term investments | - | 0 | 0 | 0 |
| Principal repayment on debt investments | -548,438 | -5,200,630 | -500,609 | -137,509 |
| Net cash provided by (used in) investing activities | 548,438 | 5,200,630 | 500,609 | 137,509 |
| Proceeds from private placement sale of common stock | - | - | 4,330,000 | - |
| Accrued legal settlement | 0 | 345,536 | - | - |
| Proceeds from unsecured loan | - | - | 0 | 0 |
| Accrued legal settlement | - | - | 138,135 | 138,134 |
| Proceeds from private placement sale of common stock | 1,096,000 | 4,752,535 | - | - |
| Gross proceeds from initial public offering, net of underwriting fees | - | 0 | 0 | 0 |
| Share issuance costs | - | 0 | - | - |
| Ipo offering costs paid | - | 0 | - | - |
| Repayment on equipment capital lease | - | - | - | 8,810 |
| Proceeds from note issuances | - | 0 | - | - |
| Principal payment on convertible notes | 1,100,000 | 700,000 | 2,308,658 | 250,000 |
| Proceeds from private placement sale of common stock | - | - | - | 1,950,000 |
| Payment on equipment capital lease | - | - | 13,277 | - |
| Repayment on equipment capital lease | 3,699 | - | - | - |
| Net cash provided by (used in) financing activities | -7,699 | -333,455 | -71,260 | 1,553,056 |
| Effect of exchange rate | -12,522 | -101,211 | -21,187 | -179,004 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | -3,658,927 | 2,247,074 | 3,805,533 | 1,131,129 |
| Cash, cash equivalents, and restricted cash, beginning of period | 8,246,813 | 5,999,739 | 1,063,077 | - |
| Cash, cash equivalents, and restricted cash, end of period | 4,587,886 | 8,246,813 | 5,999,739 | - |
SolarMax Technology, Inc. (SMXT)
SolarMax Technology, Inc. (SMXT)