SUNation Energy Inc 2026年季度报告

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the transition period from______to_____ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days. YES☒NO☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files). YES☒NO☐ Indicate by a check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ 4,123,106 SUNATION ENERGY, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 1 – NATURE OF OPERATIONS Description of Business SUNation Energy, Inc. (“SUNE”, “SUNation Energy”, “we” or the “Company”) is a Delaware corporation, whose sharesof Common Stock are listing on the Nasdaq Stock Market under its trading symbol “SUNE”. SUNation Energy’s vision is to power the energy transition through grass-roots growth of solar electricity paired withbattery storage. The Company is a domestic operator and consolidator of residential solar, battery storage, and gridservices solutions. Our strategy is focused on acquiring, integrating, and growing leading local and regional solar, storage,and energy services companies nationwide. Our current business units, Hawaii Energy Connection, LLC (“HEC”), and New York-based subsidiaries, the SUNationentities (collectively, “SUNation NY”) are engaged in the design, installation, and maintenance of solar energy systemsacross residential, commercial, and municipal sectors. Our team specializes in providing tailored solar solutions that meetthe specific energy needs of each client, ensuring both efficiency and sustainability. In addition to our core solar services,we also offer energy storage systems to optimize energy use and increase reliability. Our New York business unit further On April 9, 2026, the Company announced that its Board of Directors has authorized the review of a full range of strategicalternatives aimed at increasing shareholder value and best positioning the Company for long-term success. In connectionwith the strategic review, the Company has engaged Maxim Group, LLC to serve as its M&A and financial advisor toassist in this strategic process. The review will consider a broad spectrum of possible actions, including, but not limited to, The Company has not set a timetable for the completion of a strategic transaction, and there can be no assurance that theexploration of a strategic transaction will result in any specific outcome. The Company does not intend to provideadditional updates regarding this process unless the Board approves a particular course of action or determines additional Reverse Stock Split April 2025 Reverse Stock Split On April 3, 2025, the Company’s shareholders approved a reverse stock split of the Company’s common stock at a ratiowithin a range of1-for-2 and1-for-200 and granted the Company’s board of directors the discretion to determine thetiming and ratio of the split within such range. Additionally, the shareholders also approved an increase in authorized On April 9, 2025, the Company’s board of directors determined to effect the reverse stock split of the common stock ata1-for-200 ratio (the “April Reverse Stock Split”) and approved an amendment (“April Reverse Stock Split Amendment”)to its Certificate of Incorporation to effect the April Reverse Stock Split. On April 16, 2025, the Companyamended its Certificate of Incorporation to implement the April Reverse Stock Split. TheCompany's common stock began trading on a split-adjusted basis when the market opened on April 21, 2025 (the "AprilEffective Date"). As a result of the April Reverse Stock Split on the April Effective Date, every 200 shares of common stock then issued andoutstanding automatically were combined into one share of common stock, with no change in par value per share. Nofractional shares were outstanding following the April Reverse Stock Split, and any fractional shares that would haveresulted from the April Reverse Stock Split were rounded up to the nearest whole share