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SUNESUNATION ENERGY, INC.

Is Sunation Energy struggling financially?

Yes, by its own account. Sunation Energy told the SEC on 15 May 2026, in Form 10-Q, that there is substantial doubt about its ability to continue as a going concern.

Going concern disclosed May 2026

15/100

Critical

Sector
Industrial/Cyclical
Market cap
$14.8M
Source filing
10-Q 15 May 2026
Balance sheet
30 Jun 2026

Cash runway

  • 2months

    If the burn speeds up

    Empty by Aug 2026

  • 5months

    If it eases off

    Empty by Nov 2026

Both rows are the same reported burn flexed 15% either way, and neither assumes the company raises a cent.

Out of cashTwo years or more

The runway math

Cash and short-term investments

$3.1M

÷

Cash burned over the last 12 months

$10.5M

What Sunation Energy told the SEC

…current financial position, and the Company’s forecasted future cash flows for twelve months beyond the date of issuance of these financial statements, substantial doubt exists around the Company’s ability to continue as a going concern for a reasonable period of time . As noted in Note 9, Equity, and Note 6, Commitments and Contingencies, the Company raised capital and satisfied certain outstanding debt obligations…

SUNATION ENERGY, INC., Form 10-Q, filed 15 May 2026.

Read the filing on SEC.gov

What this means

  • Not a bankruptcy filing, and not a prediction.
  • It is the company’s own statement, agreed with its auditor, that the doubt is material enough to disclose.
  • The runway is arithmetic on two reported numbers, not a forecast. Companies carry this language for years, raise money and keep going.

What else the numbers show

  • 157.0% share-count increase The company issued stock. Each share now owns 61.1% less of the business than a year ago, before any change in the price.
  • Debt pressure is material Debt is large against the cash on hand while the business generates little to service it, which puts lenders ahead of shareholders in the queue.

Other Industrial/Cyclical companies that filed the doubt