What changed in this filing

/stocks — the workspaceLOADING

Item 7. Management’s Discussion and Analysis

2023-03-10 compared with 2022-03-31 · 28 added, 37 removed, 82 unchanged (44% of the section changed)

39 unchanged sentences

that enable the water-splitting reactions are currently made from platinum and iridium - both are very expensive precious metals.

These catalysts account for nearly 50% of the cost of the electrolyzer.

catalysts account for nearly 50% of the cost of the electrolyzer.

are developing technologies to significantly reduce or replace catalysts made from rare materials with catalysts made from inexpensive

5 unchanged sentences

and Administrative Expenses

and administrative (“G&A”) expenses increased by $50,781,366 to $51,229,031 for the year ended December

31, 2021, compared to $447,665 for the prior period December 31, 2020.

This increase in G&A expenses was the result of an increase

in non-cash stock compensation of $50,232,202, increase in salaries of $232,771, increase in professional fees of $290,208, with

an increase of $26,185 in other G&A expenses.

and administrative (“G&A”) expenses increased by $40,240,146 to $10,988,885 for the year ended December 31, 2022, compared

to $51,229,031 for the prior period December 31, 2021.

This decrease in G&A expenses was the result of a decrease in non-cash stock

compensation of $39,962,654, increase in salaries of $26,229, decrease in professional fees of $302,741, with an overall decrease of

$980 in other G&A expenses.

and Development

and Development (“R&D”) expenses increased by $1,043,412 to $1,221,134 for the year ended December 31, 2021, compared

to $177,722 for the prior period ended December 31, 2020.

This overall increase in R&D expenses was the result of an increase in

corporate outside services.

and Development (“R&D”) expenses decreased by $125,651 to $1,095,483 for the year ended December 31, 2022, compared to

$1,221,134 for the prior period ended December 31, 2021.

This overall decrease in R&D expenses was the result of a decrease in corporate

outside services.

and amortization Expense

1 unchanged sentence

Income/(Expenses)

income and (expenses) increased by $(206,044,226) to $62,644,010, of other expense for the year ended December 31, 2021, compared

to $(139,914,908 of other income for the prior period ended December 31, 2020.

The increase in non-cash loss on change in fair value

of the derivative instruments of $202,253,656, interest income of $3,557 with a decrease in interest expense in the amount of

$(301,705), which includes the net change in amortization of debt discount in the amount of $155,857.

The decrease in other income and

(expenses) was primarily due to the non-cash net change in derivatives for our outstanding convertible promissory notes.

net income was $10,189,480 for the year ended December 31, 2021, compared to a net loss of $(140,544,660) for the prior period

ended December 31, 2020.

The increase in net income was due to an increase in non-cash other income (expenses) associated with the net

change in derivative instruments estimated each period.

These estimates are based on multiple inputs, including the market price of our

stock, interest rates, our stock price volatility, variable conversion prices based on market prices as defined in the respective agreements

and probabilities of certain outcomes based on the calculated estimates.

These inputs are used to determine the fair value of the derivative

liabilities and are subject to significant changes from period to period based on these valuations, therefore, the estimated fair value

of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material.

income and (expenses) decreased by $(62,640,956) to $3,054 of other expense for the year ended December 31, 2022, compared to $(62,644,010

of other income for the prior period ended December 31, 2021.

The decrease in non-cash gain on change in fair value of the derivative

instruments of $63,214,902, interest income of $578 with a decrease in interest expense in the amount of $(574,524), which includes the

net change in amortization of debt discount in the amount of $455,989.

The decrease in other income and (expenses) was primarily due

to the conversion of the outstanding convertible promissory notes.

net loss was $(12,085,528) for the year ended December 31, 2022, compared to a net income of $10,189,480 for the prior period ended December

The increase in net loss was due to a decrease in non-cash change in derivative liabilities.

The Company has not generated

2 unchanged sentences

of December 31, 2022, we had $4,845,188 in working capital as compared to $6,655,953 for the prior year ended December 31, 2021.

The decrease in working capital was due primarily to a decrease in derivative liability, convertible debt, and prepaid expenses, with

an increase in cash and accounts payable.

decrease in working capital was due primarily to a decrease in cash, prepaid expenses, and accounts payable.

the year ended December 31, 2022, the Company used $1,812,013 of cash for operating activities, as compared to $2,084,486 for the prior

year ended December 31, 2021.

The increase in the use of cash for operating activities was a result of an increase in research and development,

salary expense in the year ended December 31, 2021 compared to December 31, 2020.

The Company is focused on development of silicon anode

additive technology for next generation lithium-ion batteries.

The decrease in the use of cash for operating activities was a result of a decrease in research and development

and professional fees in the year ended December 31, 2022 compared to December 31, 2021.

The Company is focused on development of silicon

anode additive technology for next generation lithium-ion batteries.

used in investing activities for the years ended December 31, 2022 and 2021 was $0, respectively.

provided from financing activities during the year ended December 31, 2021 was $8,666,700 as compared to $649,000 for the prior year

ended December 31, 2020.

provided from financing activities during the year ended December 31, 2022 was $1,000 as compared to $8,666,700 for the prior year ended

December 31, 2021.

Our capital needs have primarily been met from the proceeds of convertible debt offerings and equity financing.

We are currently in the development stage of our business and have no revenues.

are currently in the development stage of our business and have no revenues.

financial statements as of December 31, 2022 and 2021 have been prepared under the assumption that we will continue as a going concern.

Our independent registered public accounting firm has issued their report dated February 14, 2021 that included an explanatory paragraph

Our independent registered public accounting firm has issued their report dated March 10, 2023 that included an explanatory paragraph

expressing substantial doubt in our ability to continue as a going concern without additional capital becoming available.

21 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 7. Management’s Discussion and Analysis