We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Solarwindow Technologies Inc (PK) | USOTC:WNDW | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.335 | 0.335 | 0.35 | 0.335 | 0.335 | 0.335 | 4,218 | 14:30:22 |
x
|
QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
o
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
NEW ENERGY TECHNOLOGIES, INC. |
(Exact name of registrant as specified in its charter) |
Nevada
|
59-3509694
|
|
(State or other jurisdiction of
|
(I.R.S. Employer
|
|
incorporation or organization)
|
Identification No.)
|
|
|
||
10632 Little Patuxent Parkway, Suite 406
Columbia, Maryland
|
21044
|
|
(Address of principal executive offices)
|
(Zip Code)
|
Large accelerated filer
|
o
|
Accelerated filer
|
o
|
Non-accelerated filer
|
o
|
Smaller reporting company
|
x
|
(Do not check if a smaller reporting company) |
PART I FINANCIAL INFORMATION | |||||
Item 1. |
Consolidated Financial Statements (Unaudited)
|
3 | |||
Consolidated Balance Sheets
|
3 | ||||
Consolidated Statements of Operations
|
4 | ||||
Consolidated Statements of Stockholders’ Equity (Deficit)
|
5 | ||||
Consolidated Statements of Cash Flows
|
7 | ||||
Notes to Consolidated Financial Statements
|
8 | ||||
Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 15 | |||
Item 4. |
Controls and Procedures
|
19 | |||
PART II OTHER INFORMATION | |||||
Item 6. |
Exhibits
|
20 | |||
Signatures | 21 | ||||
Certifications |
NEW ENERGY TECHNOLOGIES, INC.
|
(A Development Stage Company)
|
CONSOLIDATED BALANCE SHEETS
|
FEBRUARY 28, 2014 AND AUGUST 31, 2013
|
February 28
|
August 31,
|
|||||||
2014
|
2013
|
|||||||
|
(Unaudited)
|
|||||||
ASSETS | ||||||||
Current assets
|
||||||||
Cash and cash equivalents
|
$ | 2,024,656 | $ | 347,493 | ||||
Deferred research and development costs
|
150,000 | 150,000 | ||||||
Prepaid expenses and other current assets
|
13,900 | 22,379 | ||||||
Total current assets
|
2,188,556 | 519,872 | ||||||
Equipment, net of accumulated depreciation of $14,918 and $12,025, respectively
|
12,872 | 13,823 | ||||||
Total assets
|
$ | 2,201,428 | $ | 533,695 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
Current liabilities
|
||||||||
Accounts payable
|
$ | 165,344 | $ | 122,356 | ||||
Interest payable
|
83,386 | - | ||||||
Convertible promissory note, net of discount of $2,999,636 as of February 28, 2014
|
364 | - | ||||||
Total current liabilities
|
249,094 | 122,356 | ||||||
Commitments and contingencies
|
||||||||
Stockholders' equity
|
||||||||
Preferred stock: $0.10 par value; 1,000,000 shares authorized, no shares issued and outstanding
|
- | - | ||||||
Common stock: $0.001 par value; 300,000,000 shares authorized, 24,306,612 and 24,194,713 shares issued and outstanding at February 28, 2014 and August 31, 2013, respectively
|
24,306 | 24,194 | ||||||
Additional paid-in capital
|
20,450,521 | 17,441,034 | ||||||
Deficit accumulated during the development stage
|
(18,522,493 | ) | (17,053,889 | ) | ||||
Total stockholders' equity
|
1,952,334 | 411,339 | ||||||
Total liabilities and stockholders' equity
|
$ | 2,201,428 | $ | 533,695 |
NEW ENERGY TECHNOLOGIES, INC.
|
(A Development Stage Company)
|
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
|
FOR THE THREE AND SIX MONTHS ENDED FEBRUARY 28, 2014 AND 2013 AND FOR THE
|
PERIOD FROM INCEPTION (MAY 5, 1998) TO FEBRUARY 28, 2014
|
Cumulative
|
||||||||||||||||||||
May 5, 1998
|
||||||||||||||||||||
Three Months Ended
February 28,
|
Six Months Ended
February 28,
|
(Inception) to February 28,
|
||||||||||||||||||
2014
|
2013
|
2014
|
2013
|
2014
|
||||||||||||||||
|
||||||||||||||||||||
Revenue
|
$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Operating expense
|
||||||||||||||||||||
Selling, general and administrative
|
508,581 | 1,742,066 | 1,084,592 | 2,043,596 | 15,356,429 | |||||||||||||||
Research and development
|
137,779 | 36,451 | 300,262 | 108,677 | 3,247,278 | |||||||||||||||
Total operating expense
|
646,360 | 1,778,517 | 1,384,854 | 2,152,273 | 18,603,707 | |||||||||||||||
Loss from operations
|
(646,360 | ) | (1,778,517 | ) | (1,384,854 | ) | (2,152,273 | ) | (18,603,707 | ) | ||||||||||
Other income (expense)
|
||||||||||||||||||||
Interest income
|
- | - | - | - | 98,582 | |||||||||||||||
Interest expense - other
|
(52,317 | ) | (12,415 | ) | (83,386 | ) | (30,325 | ) | (152,335 | ) | ||||||||||
Interest expense - accretion of debt discount
|
(356 | ) | (983,689 | ) | (364 | ) | (999,485 | ) | (1,000,364 | ) | ||||||||||
Loss on disposal of fixed assets
|
- | - | - | - | (5,307 | ) | ||||||||||||||
Gain on dissolution of foreign subsidiary
|
- | - | - | - | 59,704 | |||||||||||||||
Foreign exchange loss
|
- | - | - | - | (86,428 | ) | ||||||||||||||
Change in fair value of warrant liability
|
- | - | - | - | 2,128,331 | |||||||||||||||
Payable written off
|
- | - | - | - | 186,109 | |||||||||||||||
Total other income (expense)
|
(52,673 | ) | (996,104 | ) | (83,750 | ) | (1,029,810 | ) | 1,228,292 | |||||||||||
Loss from continuing operations
|
(699,033 | ) | (2,774,621 | ) | (1,468,604 | ) | (3,182,083 | ) | (17,375,415 | ) | ||||||||||
Loss from discontinued operations
|
- | - | - | - | (404,307 | ) | ||||||||||||||
Net loss
|
$ | (699,033 | ) | $ | (2,774,621 | ) | $ | (1,468,604 | ) | $ | (3,182,083 | ) | $ | (17,779,722 | ) | |||||
Basic and Diluted Loss per Common Share
|
$ | (0.03 | ) | $ | (0.13 | ) | $ | (0.06 | ) | $ | (0.15 | ) | ||||||||
Weighted average number of common shares outstanding - basic and diluted
|
24,293,050 | 21,681,631 | 24,251,364 | 21,159,995 |
NEW ENERGY TECHNOLOGIES, INC.
|
(A Development Stage Company)
|
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)(Unaudited)
|
FROM MAY 5, 1998 (INCEPTION) TO FEBRUARY 28, 2014
|
Additional |
Deficit
Accumulated
During the
|
Total
Stockholders'
|
||||||||||||||||||
Common Stock
|
Paid-in
|
Development
|
Equity
|
|||||||||||||||||
Shares
|
Amount
|
Capital
|
Stage
|
(Deficit)
|
||||||||||||||||
Restricted common stock issued to related parties for management services at $0.001 per share
|
3,000,000 | $ | 3,000 | $ | - | $ | - | $ | 3,000 | |||||||||||
Unrestricted common stock sales to third parties at $0.40 per share
|
375,000 | 375 | 149,625 | - | 150,000 | |||||||||||||||
Net loss for the year ended August 31, 1998
|
- | - | - | (12,326 | ) | (12,326 | ) | |||||||||||||
Balance, August 31, 1998
|
3,375,000 | 3,375 | 149,625 | (12,326 | ) | 140,674 | ||||||||||||||
Net loss for the year ended August 31, 1999
|
- | - | - | (77,946 | ) | (77,946 | ) | |||||||||||||
Balance, August 31, 1999
|
3,375,000 | 3,375 | 149,625 | (90,272 | ) | 62,728 | ||||||||||||||
Net loss for the year ended August 31, 2000
|
- | - | - | (12,446 | ) | (12,446 | ) | |||||||||||||
Balance, August 31, 2000
|
3,375,000 | 3,375 | 149,625 | (102,718 | ) | 50,282 | ||||||||||||||
Net loss for year ended August 31, 2001
|
- | - | - | (12,904 | ) | (12,904 | ) | |||||||||||||
Balance, August 31, 2001
|
3,375,000 | 3,375 | 149,625 | (115,622 | ) | 37,378 | ||||||||||||||
Net loss for the year ended August 31, 2002
|
- | - | - | (54,935 | ) | (54,935 | ) | |||||||||||||
Balance, August 31, 2002
|
3,375,000 | 3,375 | 149,625 | (170,557 | ) | (17,557 | ) | |||||||||||||
Restricted common stock issued at $0.001 per share to two related parties to satisfy outstanding management fees.
|
10,333,200 | 10,333 | 92,999 | - | 103,332 | |||||||||||||||
Net loss for the year ended August 31, 2003
|
- | - | - | (97,662 | ) | (97,662 | ) | |||||||||||||
Balance, August 31, 2003
|
13,708,200 | 13,708 | 242,624 | (268,219 | ) | (11,887 | ) | |||||||||||||
Net loss for the year ended August 31, 2004
|
- | - | - | (19,787 | ) | (19,787 | ) | |||||||||||||
Balance, August 31, 2004
|
13,708,200 | 13,708 | 242,624 | (288,006 | ) | (31,674 | ) | |||||||||||||
Net loss for the year ended August 31, 2005
|
- | - | - | (103,142 | ) | (103,142 | ) | |||||||||||||
Balance, August 31, 2005
|
13,708,200 | 13,708 | 242,624 | (391,148 | ) | (134,816 | ) | |||||||||||||
Issuance of common stock and warrants at $0.50 per share
|
1,000,000 | 1,000 | 499,000 | - | 500,000 | |||||||||||||||
Net loss for the year ended August 31, 2006
|
- | - | - | (157,982 | ) | (157,982 | ) | |||||||||||||
Balance, August 31, 2006
|
14,708,200 | 14,708.00 | 741,624.00 | (549,130 | ) | 207,202 | ||||||||||||||
Exercise of Class A Warrants at $0.50 per share
|
1,000,000 | 1,000 | 499,000 | - | 500,000 | |||||||||||||||
Exercise of Class B Warrants at $0.55 per share
|
1,000,000 | 1,000 | 549,000 | - | 550,000 | |||||||||||||||
Exercise of Class C Warrants at $1.50 per share
|
326,667 | 327 | 489,673 | - | 490,000 | |||||||||||||||
Exercise of Class D Warrants at $1.65 per share
|
293,333 | 293 | 483,707 | - | 484,000 | |||||||||||||||
Exercise of Class E Warrants at $1.80 per share
|
293,333 | 293 | 527,707 | - | 528,000 | |||||||||||||||
Issuance of common stock and warrants at $1.50 per share
|
333,333 | 333 | 499,667 | - | 500,000 | |||||||||||||||
Dividend paid - spin off of MircoChannel Technologies Corporation
|
- | - | - | (400,000 | ) | (400,000 | ) | |||||||||||||
Net loss for the year ended August 31, 2007
|
- | - | - | (1,442,769 | ) | (1,442,769 | ) | |||||||||||||
Balance, August 31, 2007
|
17,954,866 | 17,954 | 3,790,378 | (2,391,899 | ) | 1,416,433 | ||||||||||||||
Common stock and warrants issued for cash and services at $3.00 per Unit
|
1,225,000 | 1,225 | 3,394,730 | - | 3,395,955 | |||||||||||||||
Exercise of Class C Warrants at $1.50 per share
|
6,667 | 7 | 9,993 | - | 10,000 | |||||||||||||||
Exercise of Class D Warrants at $1.65 per share
|
6,667 | 7 | 10,993 | - | 11,000 | |||||||||||||||
Exercise of Class F Warrants at $3.75 per share
|
58,333 | 58 | 218,692 | - | 218,750 | |||||||||||||||
Stock based compensation
|
- | - | 3,600,303 | - | 3,600,303 | |||||||||||||||
Net loss for the year ended August 31, 2008
|
- | - | - | (5,721,545 | ) | (5,721,545 | ) | |||||||||||||
Balance, August 31, 2008
|
19,251,533 | 19,251 | 11,025,089 | (8,113,444 | ) | 2,930,896 |
Additional
|
Deficit
Accumulated
During the
|
Total
Stockholders'
|
||||||||||||||||||
Common Stock
|
Paid-in | Development | Equity | |||||||||||||||||
Shares
|
Amount
|
Capital
|
Stage
|
(Deficit)
|
||||||||||||||||
Exercise of Class E Warrants at $1.80 per share
|
6,667 | 7 | 11,993 | - | 12,000 | |||||||||||||||
Exercise of Class F Warrants at $3.75 per share
|
275,333 | 275 | 1,032,225 | - | 1,032,500 | |||||||||||||||
Stock based compensation
|
- | - | 183,312 | - | 183,312 | |||||||||||||||
Reversal of stock based compensation due to forfeiture of stock options
|
- | - | (3,591,093 | ) | - | (3,591,093 | ) | |||||||||||||
Net income for the year ended August 31, 2009
|
- | - | - | 1,961,175 | 1,961,175 | |||||||||||||||
Balance, August 31, 2009
|
19,533,533 | 19,533 | 8,661,526.00 | (6,152,269 | ) | 2,528,790 | ||||||||||||||
Stock based compensation
|
- | - | 661,040 | - | 661,040 | |||||||||||||||
Reversal of stock based compensation due to forfeiture of stock options
|
- | - | (478,971 | ) | - | (478,971 | ) | |||||||||||||
Cumulative adjustment upon adoption of ASC 815-40
|
- | - | (1,785,560 | ) | (342,771 | ) | (2,128,331 | ) | ||||||||||||
Net loss for the year ended August 31, 2010
|
- | - | - | (233,136 | ) | (233,136 | ) | |||||||||||||
Balance, August 31, 2010
|
19,533,533 | 19,533 | 7,058,035 | (6,728,176 | ) | 349,392 | ||||||||||||||
Rounding due to reverse one for three stock split effective March 16, 2011
|
(3 | ) | - | - | - | - | ||||||||||||||
Exercise of Class F Warrants at $3.75 per share
|
1,054,512 | 1,055 | 3,953,320 | - | 3,954,375 | |||||||||||||||
Exercise of stock options
|
50,318 | 50 | 30,750 | - | 30,800 | |||||||||||||||
Stock based compensation
|
- | - | 2,855,630 | - | 2,855,630 | |||||||||||||||
Reversal of stock based compensation due to forfeiture of stock options
|
- | - | (1,304,551 | ) | - | (1,304,551 | ) | |||||||||||||
Net loss for the year ended August 31, 2011
|
- | - | - | (3,619,750 | ) | (3,619,750 | ) | |||||||||||||
Balance, August 31, 2011
|
20,638,360 | 20,638 | 12,593,184 | (10,347,926 | ) | 2,265,896 | ||||||||||||||
Stock based compensation
|
- | - | 237,046 | - | 237,046 | |||||||||||||||
Reversal of stock based compensation due to forfeiture of stock options
|
- | - | (31,948 | ) | - | (31,948 | ) | |||||||||||||
Discount on convertible promissory note due to detachable warrants
|
- | - | 547,050 | - | 547,050 | |||||||||||||||
Discount on convertible promissory note due to beneficial conversion feature
|
- | - | 452,950 | - | 452,950 | |||||||||||||||
Net loss for the year ended August 31, 2012
|
- | - | - | (2,433,431 | ) | (2,433,431 | ) | |||||||||||||
Balance, August 31, 2012
|
20,638,360 | 20,638 | 13,798,282 | (12,781,357 | ) | 1,037,563 | ||||||||||||||
Stock based compensation
|
- | - | 334,305 | - | 334,305 | |||||||||||||||
Reversal of stock based compensation due to forfeiture of stock options
|
- | - | (10,075 | ) | - | (10,075 | ) | |||||||||||||
Issuance of common stock and warrants at $0.64 per unit
|
1,875,000 | 1,875 | 1,198,125 | - | 1,200,000 | |||||||||||||||
Issuance of common stock upon the conversion of note at $0.64 per share
|
1,650,869 | 1,651 | 1,054,905 | - | 1,056,556 | |||||||||||||||
Exercise of stock options
|
22,672 | 22 | (22 | ) | - | - | ||||||||||||||
Issuance of common stock upon the exercise of Series H Warrants
|
7,812 | 8 | 6,476 | - | 6,484 | |||||||||||||||
Expense related to issuance of Series H Warrants as inducement to convert the 2012 Promissory Note
|
- | - | 1,059,038 | - | 1,059,038 | |||||||||||||||
Net loss for the year ended August 31, 2013
|
- | - | - | (4,272,532 | ) | (4,272,532 | ) | |||||||||||||
Balance, August 31, 2013
|
24,194,713 | 24,194 | 17,441,034 | (17,053,889 | ) | 411,339 | ||||||||||||||
Stock based compensation
|
30,000 | 30 | 366,542 | - | 366,572 | |||||||||||||||
Reversal of stock based compensation due to forfeiture of stock options
|
- | - | (356,973 | ) | - | (356,973 | ) | |||||||||||||
Exercise of stock options
|
81,899 | 82 | (82 | ) | - | - | ||||||||||||||
Discount on convertible promissory note due to detachable warrants
|
- | - | 1,137,149 | - | 1,137,149 | |||||||||||||||
Discount on convertible promissory note due to beneficial conversion feature
|
- | - | 1,862,851 | - | 1,862,851 | |||||||||||||||
Net loss for the six months ended February 28, 2014
|
- | - | (1,468,604 | ) | (1,468,604 | ) | ||||||||||||||
Balance, February 28, 2014
|
24,306,612 | $ | 24,306 | $ | 20,450,521 | $ | (18,522,493 | ) | $ | 1,952,334 |
NEW ENERGY TECHNOLOGIES, INC.
|
(A Development Stage Company)
|
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
|
FOR THE SIX MONTHS ENDED FEBRUARY 28, 2014 AND 2013 AND FOR THE
|
PERIOD FROM INCEPTION (MAY 5, 1998) TO FEBRUARY 28, 2014
|
Cumulative
|
||||||||||||
May 5, 1998
|
||||||||||||
Six Months Ended
February 28,
|
(Inception) to
February 28,
|
|||||||||||
2014
|
2013
|
2014
|
||||||||||
Cash flows from operating activities
|
||||||||||||
Loss from continuing operations
|
$ | (1,468,604 | ) | $ | (3,182,083 | ) | $ | (17,375,415 | ) | |||
Add: loss from discontinued operations
|
- | - | (404,307 | ) | ||||||||
Adjustments to reconcile net loss to net cash used in operating activities
|
||||||||||||
Depreciation
|
2,893 | 3,071 | 19,400 | |||||||||
Stock based compensation expense
|
366,572 | 233,641 | 8,238,209 | |||||||||
Reversal of stock based compensation expense due to forfeiture of stock options
|
(356,973 | ) | (10,075 | ) | (5,773,611 | ) | ||||||
Warrants issued to note holder
|
- | 1,059,038 | 1,059,038 | |||||||||
Change in fair value of warrant liability
|
- | - | (2,128,331 | ) | ||||||||
Loss on disposal of fixed assets
|
- | - | 5,307 | |||||||||
Payable written off
|
- | - | (186,109 | ) | ||||||||
Common stock issued for services
|
- | - | 3,000 | |||||||||
Common stock issued for debt settlement
|
- | - | 103,332 | |||||||||
Accretion of debt discount
|
364 | 999,485 | 1,000,364 | |||||||||
Changes in operating assets and liabilities:
|
||||||||||||
Decrease (increase) in deferred research and development costs
|
- | (117,405 | ) | (150,000 | ) | |||||||
Decrease (increase) in prepaid expenses and other current assets
|
8,479 | (7,440 | ) | (13,900 | ) | |||||||
Increase (decrease) in accounts payable
|
42,988 | 45,643 | 195,344 | |||||||||
Increase (decrease) in accrued liabilities
|
83,386 | 30,325 | 296,051 | |||||||||
Net cash used in operating activities
|
(1,320,895 | ) | (945,800 | ) | (15,111,628 | ) | ||||||
Cash flows from investing activity
|
||||||||||||
Purchase of equipment
|
(1,942 | ) | - | (37,579 | ) | |||||||
Net cash used in investing activity
|
(1,942 | ) | - | (37,579 | ) | |||||||
Cash flows from financing activities
|
||||||||||||
Proceeds from the issuance of common stock, exercise of warrants and stock options, net
|
- | 1,200,000 | 13,573,863 | |||||||||
Repayment of promissory note
|
- | - | (155,000 | ) | ||||||||
Proceeds from promissory notes
|
3,000,000 | - | 4,155,000 | |||||||||
Dividend paid
|
- | - | (400,000 | ) | ||||||||
Net cash provided by financing activities
|
3,000,000 | 1,200,000 | 17,173,863 | |||||||||
Increase (decrease) in cash and cash equivalents
|
1,677,163 | 254,200 | 2,024,656 | |||||||||
Cash and cash equivalents at beginning of period
|
347,493 | 1,046,918 | - | |||||||||
Cash and cash equivalents at end of period
|
$ | 2,024,656 | $ | 1,301,118 | $ | 2,024,656 | ||||||
Supplemental disclosure of cash flow information:
|
||||||||||||
Interest paid in cash
|
$ | - | $ | - | $ | 12,393 | ||||||
Income taxes paid in cash
|
$ | - | $ | - | $ | - | ||||||
Supplemental disclosure of non-cash transactions:
|
||||||||||||
Accrued management fees converted to equity
|
$ | - | $ | - | $ | 103,332 | ||||||
Debt discount recorded for value of warrants issued
|
$ | 1,137,149 | $ | - | $ | 1,684,199 | ||||||
Debt discount recorded for beneficial conversion feature
|
$ | 1,862,851 | $ | - | $ | 2,315,801 | ||||||
Warrants issued for broker commissions
|
$ | - | $ | - | $ | 642,980 | ||||||
Common stock issued for conversion of note payable
|
$ | - | $ | 1,056,556 | $ | 1,056,556 |
Shares of Common Stock Issuable from Warrants Outstanding as of
|
|||||||||||||
Description
|
February 28,
2014
|
August 31,
2013
|
Exercise Price
|
Expiration
|
|||||||||
Series G
|
625,000 | 625,000 | $ | 0.64 |
April 17, 2015
|
||||||||
Series H
|
1,755,126 | 1,755,126 | $ | 0.83 |
February 1, 2016
|
||||||||
Series I
|
921,875 | - | $ | 1.37 |
October 7, 2018
|
||||||||
Total
|
3,302,001 | 2,380,126 |
Number of Options
|
Weighted Average Exercise Price ($)
|
Weighted Average Remaining Contractual Term
|
Aggregate Intrinsic Value ($)
|
||||||||||
Outstanding at August 31, 2012
|
861,671 | 2.10 | |||||||||||
Grants
|
177,500 | 1.59 | |||||||||||
Exercises
|
(63,333 | ) | 1.65 | ||||||||||
Forfeitures
|
(5,000 | ) | 3.27 | ||||||||||
Outstanding at August 31, 2013
|
970,838 | 2.03 | |||||||||||
Grants
|
805,000 | 2.90 | |||||||||||
Exercises
|
(190,000 | ) | 1.65 | ||||||||||
Forfeitures
|
(260,001 | ) | 1.69 | ||||||||||
Outstanding at February 28, 2014
|
1,325,837 | 2.68 |
8.47 years
|
$ | 394,110 | ||||||||
Exercisable at February 28, 2014
|
569,337 | 2.39 |
6.56 years
|
$ | 393,750 | ||||||||
Available for grant at February 28, 2014
|
3,347,496 |
Description
|
February 28,
2014
|
August 31,
2013
|
Exercise Price
|
Expiration
|
|||||||||
Series G
|
625,000 | 625,000 | $ | 0.64 |
April 17, 2015
|
||||||||
Series H
|
1,755,126 | 1,755,126 | $ | 0.83 |
February 1, 2016
|
||||||||
Series I
|
921,875 | - | $ | 1.37 |
October 7, 2018
|
||||||||
Total
|
3,302,001 | 2,380,126 |
Stock Options Outstanding
|
Stock Options Exercisable
|
|||||||||||||||||||||||||
Range of
Exercise
Prices
|
Number of
Options
Outstanding
|
Weighted
Average
Contractual
Life (years)
|
Weighted
Average
Exercise
Price
|
Number
of Options
Exercisable
|
Weighted Average
Remaining
Contractual
Life (Years)
|
Weighted
Average
Exercise
Price
|
||||||||||||||||||||
$ | 0.80 | 15,000 | 8.81 | $ | 0.80 | 15,000 | 8.81 | $ | 0.80 | |||||||||||||||||
1.32 | 50,001 | 0.79 | 1.32 | 50,001 | 0.79 | 1.32 | ||||||||||||||||||||
1.65 | 320,000 | 6.05 | 1.65 | 320,000 | 8.44 | 1.65 | ||||||||||||||||||||
2.30 | 2,500 | 8.16 | 2.30 | 2,500 | 8.16 | 2.30 | ||||||||||||||||||||
2.50 | 10,000 | 7.10 | 2.50 | 6,000 | 7.10 | 2.50 | ||||||||||||||||||||
2.55 | 33,334 | 4.53 | 2.55 | 33,334 | 4.53 | 2.55 | ||||||||||||||||||||
2.90 | 805,000 | 9.91 | 2.90 | 52,500 | 9.87 | 2.90 | ||||||||||||||||||||
3.27 | 11,667 | 0.78 | 3.27 | 11,667 | 0.78 | 3.27 | ||||||||||||||||||||
4.98 | 16,667 | 4.03 | 4.98 | 16,667 | 4.03 | 4.98 | ||||||||||||||||||||
5.94 | 50,001 | 6.82 | 5.94 | 50,001 | 6.82 | 5.94 | ||||||||||||||||||||
6.51 | 11,667 | 0.59 | 6.51 | 11,667 | 0.59 | 6.51 | ||||||||||||||||||||
Total
|
1,325,837 | 8.47 | $ | 2.68 | 569,337 | 6.56 | $ | 2.39 |
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
February 28,
|
February 28,
|
|||||||||||||||
2014
|
2013
|
2014
|
2013
|
|||||||||||||
Basic and Diluted EPS Computation
|
||||||||||||||||
Numerator:
|
||||||||||||||||
Loss available to common stockholders'
|
$ | (699,033 | ) | $ | (2,774,621 | ) | $ | (1,468,604 | ) | $ | (3,182,083 | ) | ||||
Denominator:
|
||||||||||||||||
Weighted average number of common shares outstanding
|
24,293,050 | 21,681,631 | 24,251,364 | 21,159,995 | ||||||||||||
Basic and diluted EPS
|
$ | (0.03 | ) | $ | (0.13 | ) | $ | (0.06 | ) | $ | (0.15 | ) |
Convertible debt
|
2,296,002 | - | 2,296,002 | - | ||||||||||||
Warrants issuable upon conversion of debt (See "NOTE 2 - Convertible Promissory Note" above)
|
4,592,004 | - | 4,592,004 | - | ||||||||||||
Warrants
|
3,302,001 | 2,387,938 | 3,302,001 | 2,380,126 | ||||||||||||
Stock options
|
1,325,837 | 1,034,171 | 1,325,837 | 1,034,171 |
·
|
Further improving SolarWindow™ efficiency and transparency;
|
·
|
Optimizing electrical power (current and voltage) output;
|
·
|
Optimizing the application of the active layer coatings which make it possible for SolarWindow™ to generate electricity on glass surfaces;
|
·
|
Developing improved electricity-generating coatings by enhancing performance, processing, reliability, and durability;
|
·
|
Optimizing SolarWindow™ performance on flexible substrates; and
|
·
|
Developing high speed and large area roll-to-roll (R2R) and sheet-to-sheet (S2S) coating methods required for commercial-scale building integrated photovoltaic (BIPV) and building applied photovoltaic (BAPV) applications, and windows.
|
Three Months Ended
|
||||||||||||||||
February 28,
|
Increase /
|
Percentage
|
||||||||||||||
2014
|
2013
|
(Decrease)
|
Change
|
|||||||||||||
Operating expense
|
||||||||||||||||
Selling, general and administrative
|
$ | 506,806 | $ | 482,603 | $ | 24,203 | 5 | % | ||||||||
Research and development
|
137,779 | 36,451 | 101,328 | 278 | % | |||||||||||
Stock compensation
|
1,775 | 1,259,463 | (1,257,688 | ) | -100 | % | ||||||||||
Total operating expense
|
$ | 646,360 | $ | 1,778,517 | $ | (1,132,157 | ) | -64 | % |
Six Months Ended
|
||||||||||||||||
February 28,
|
Increase /
|
Percentage
|
||||||||||||||
2014
|
2013
|
(Decrease)
|
Change
|
|||||||||||||
Operating expense
|
||||||||||||||||
Selling, general and administrative
|
$ | 1,074,993 | $ | 760,992 | $ | 314,001 | 41 | % | ||||||||
Research and development
|
300,262 | 108,677 | 191,585 | 176 | % | |||||||||||
Stock compensation
|
9,599 | 1,282,604 | (1,273,005 | ) | -99 | % | ||||||||||
Total operating expense
|
$ | 1,384,854 | $ | 2,152,273 | $ | (767,419 | ) | -36 | % |
Three Months Ended
February 28,
|
Three Month |
Six Months Ended
February 28,
|
Six Month
|
|||||||||||||||||||||
2014
|
2013
|
Change |
2014
|
2013
|
Change | |||||||||||||||||||
Other income (expense)
|
||||||||||||||||||||||||
Interest expense - other
|
(52,317 | ) | (12,415 | ) | $ | (39,902 | ) | $ | (83,386 | ) | $ | (30,325 | ) | $ | (53,061 | ) | ||||||||
Interest expense - accretion of debt discount
|
(356 | ) | (983,689 | ) | 983,333 | (364 | ) | (999,485 | ) | 999,121 | ||||||||||||||
Total other income (expense)
|
$ | (52,673 | ) | $ | (996,104 | ) | $ | 943,431 | $ | (83,750 | ) | $ | (1,029,810 | ) | $ | 946,060 |
Exhibit No. | Description of Exhibit | |
10.1 § |
Form of Stock Option Agreement (incorporated by reference to the Form 8-K filed by the Company on January 15, 2014)
|
|
10.2 | Form of Lock-Up Agreement (incorporated by reference to the Form 8-K filed by the Company on January 15, 2014) | |
10.3 § |
Employment Agreement with John Conklin dated as of January 1, 2014 (incorporated by reference to the Form 8-K filed by the Company on January 31, 2014)
|
|
10.4 § |
Stock Option Agreement with John Conklin dated as of January 27, 2014 (incorporated by reference to the Form 8-K filed by the Company on January 31, 2014)
|
|
31.1 |
Certification of Principal Executive Officer and Principal Financial Officer Pursuant to Rule 13a-14 of the Securities Exchange Act of 1934, As Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*
|
|
32.1 | Certification of Principal Executive Officer and Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002* | |
101.INS ** | XBRL Instance Document | |
101.SCH ** | XBRL Taxonomy Extension Schema Document | |
101.CAL ** | XBRL Taxonomy Extension Calculation Linkbase Document | |
101.DEF ** | XBRL Taxonomy Extension Definition Linkbase Document | |
101.LAB ** | XBRL Taxonomy Extension Label Linkbase Document | |
101.PRE ** | XBRL Taxonomy Extension Presentation Linkbase Document |
New Energy Technologies, Inc. | |||
(Registrant) | |||
Date: April 8, 2014
|
By:
|
/s/ John A. Conklin | |
John A. Conklin | |||
Chief Executive Officer, Chief Financial Officer and Director (Principal Executive Officer, Principal Financial Officer, and Principal Accounting Officer) | |||
1 Year Solarwindow Technologies (PK) Chart |
1 Month Solarwindow Technologies (PK) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions