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XsunX, Inc. Symbol:  XSNX Click here for a printable version Business Summary: XsunX, Inc., a thin-film photovoltaic (TFPV) company, focuses on the design and manufacture of solar modules. It utilizes amorphous silicon, a semiconductor technology to manufacture its products.   Address   65 Enterprise   Aliso Viejo , CA 92656   Phone: 949-330-8060   Fax: 949-266-5823   Website: http://www.xsunx.com Auditor   HJ Associates & Consultants, LLP Transfer Agent   Mountain Share Transfer, Inc. Employees:  5 ShareHolders:  286 Founded:  1997 Domicile:  Colorado      S & P Disclaimer   XsunX, Inc. Symbol:  XSNX Click here for a printable version XsunX, Inc., a thin-film photovoltaic (TFPV) company, focuses on the design and manufacture of solar modules. It utilizes amorphous silicon, a semiconductor technology to manufacture its products. The company's product includes the XsunX ASI-120, a TFPV solar module, which could deliver an average of approximately 127.5 peak watts. Its target customers comprise various developers that own and operate solar power plants or sell turnkey solar power plants to end-users, including government facilities, public and private utility companies, operators of commercial warehouse, office and industrial buildings, and financial investors. The company was formerly known as Sun River Mining, Inc. and changed its name to XsunX, Inc. in 2003. XsunX, Inc. was founded in 1997 and is based in Aliso Viejo, California. History:  INCORPORATED in Colorado Feb. 25, 1997, as Sun River Mining Inc. Effective Sept. 24, 2003, the company completed a Plan of Reorganization and asset purchase agreement with Xoptix, Inc., a California corporation. Pursuant to the Plan, the company issued 110,530,000 (post-split) Common shares, and on Sept. 30, 2003, changed its name to XsunX, Inc. Prior to the Plan, the company had no tangible assets and insignificant liabilities. Also pursuant to the Plan, the company acquired three patents for 70,000,000 (post-split) shares.     Capital Expenditures, thousand. US Dollars   Year   Amount   2005   182   2004   2   Research and Development Expenditures, thousand. US Dollars   Year   Amount   2005   501   2004   129      S & P Disclaimer   XsunX, Inc. Symbol:  XSNX Click here for a printable version Management Officers Position  Joseph  Grimes President & Chief Operating Officer  Tom M. Djokovich Secretary, Chief Financial Officer, Chief Accounting Officer & Chief Executive Officer  Robert G. Wendt Chief Technology Officer  Guang  Lin Chief Scientific Officer Directors  Thomas  Anderson  Tom M. Djokovich  Osmund M. Fundingsland  Joseph  Grimes  Michael A. Russak      S & P Disclaimer   XsunX, Inc. Symbol:  XSNX Click here for a printable version   Capitalization as of 09/30/2009:     Authorized Shares Outstanding Shares Preferred $0.01 par 50,000,000 None Common no par 500,000,000 196,484,610   LONG TERM DEBT: $456,921.   Common no par   Stockholders:  09/30/2009, 286. Transfer Agent:  Mountain Share Transfer, Inc.   Broomfield , CO   OTC Bulletin Board( Primary): XSNX   Exchange Year High Low OTC Bulletin Board 2009 0.2700 0.0900 OTC Bulletin Board 2008 0.7400 0.1700 OTC Bulletin Board 2007 0.6600 0.2600 OTC Bulletin Board 2006 2.1600 0.3200 OTC Bulletin Board 2005 0.6000 0.0760 OTC Bulletin Board 2004 1.0000 0.2500   DIVIDENDS: Common no par: No cash. Common reverse split 1-for-20, Oct. 7, 2003.        S & P Disclaimer   XsunX, Inc. Symbol:  XSNX Click here for a printable version Annual Report   Income Statement   2009 2008 EXPENSES Write Down of Inventory Asset (1,117,000) - Selling and General and Administrative and Research and Development Expenses (3,316,853) (3,331,683) Stock, Option and Warrant Expense (534,518) (673,287) Depreciation and Amortization Expenses (127,293) (257,222) Impairments of Assets (5,826,990) (215,625) Interest Expense (4,303) (1,054) Interest Income 5,443 176,250 Other Non-operating - (1,331) Forgiveness of Debts 287,381 245,000 Earnings before Taxes (10,634,130) (4,058,952) TAXES AND OTHER EXPENSES Net Income (Loss) (10,634,133) (4,058,952) SUPPLEMENTARY INFO Operating Income (Loss) (3,978,664.00) (4,262,192.00) Basic & Diluted EPS - Continuing Operations (0.06) (0.02)   Balance Sheet   2009 2008 CURRENT ASSETS Cash and Cash Equivalents 530,717 2,389,218 Inventory Asset 300,000 1,417,000 Prepaid Expenses 118,332 11,986 Total Current Assets 949,049 3,818,204 NON CURRENT ASSETS Manufacturing Equipment in Progress 207,219 5,824,630 Office and Miscellaneous Equipment 51,708 50,010 Machinery, Equipment 450,386 435,910 Leasehold Improvements 89,825 89,825 Accumulated Depreciation (378,353) (299,559) Deposits 5,815 5,815 Total Assets 1,375,649 9,924,835 CURRENT LIABILITIES Accounts Payable 389,293 425,548 Accrued Expenses 24,451 30,957 Credit Cards Payable 17,918 40,405 Total Current Liabilities 431,662 496,910 NON CURRENT LIABILITIES Notes Payable-vendors 456,921 - Accrued Interest on Notes Payable 4,256 - SHAREHOLDERS' EQUITY Common Stock - Par Value 23,767,870 22,613,370 Additional Paid in Capital 3,175,930 2,641,412 Additional Paid in Capital 5,248,213 5,248,213 Deficit Accumulated during the Development Stage (31,709,200) (21,075,070) Total Shareholders Equity 482,810 9,427,925 Total Liabilities & Shareholders Equity 1,375,649 9,924,835      S & P Disclaimer   XsunX, Inc. Symbol:  XSNX Click here for a printable version Interim Report      Data Not Available            S & P Disclaimer   XsunX, Inc. Symbol:  XSNX Click here for a printable version Pro Forma Report      Data Not Available            S & P Disclaimer   XsunX, Inc. Symbol:  XSNX Click here for a printable version Quarterly Report Information      Quarterly Revenue, US$ Year Quarter Revenue   2009   1 Nil   2009   2 Nil   2009   3 Nil   2009   Full Year Nil   2008   1 Nil   2008   2 Nil   2008   3 Nil   2008   4 Nil   2008   Full Year Nil   2007   2 10,000   2007   3 Nil   2007   Full Year 10,000   2006   1 10,000   2006   2 Nil   2006   3 Nil   2006   Full Year 10,000   2005   Full Year Nil     Quarterly Net Income, US$ Year Quarter Revenue   2010   1 (540,000)   2010   2 (640,000)   2009   1 (1,240,000)   2009   2 (680,000)   2009   3 (6,080,000)   2009   4 (2,640,000)   2009   Full Year (10,630,000)   2008   1 (1,910,000)   2008   2 (800,000)   2008   3 (690,000)   2008   4 (770,000)   2008   Full Year (4,060,000)   2007   3 (500,000)   2007   Full Year (1,290,000)   2006   1 (1,600,000)   2006   2 (550,000)   2006   3 (1,120,000)   2006   Full Year (3,440,000)   2005   Full Year (1,401,000)     Quarterly EPS, US$ Year Quarter Revenue   2010   1 Nil   2010   2 Nil   2009   1 (.01)   2009   2 Nil   2009   3 (.03)   2009   4 (.01)   2009   Full Year (.06)   2008   1 (.01)   2008   2 Nil   2008   3 Nil   2008   4 Nil   2008   Full Year (.02)   2007   1 Nil   2007   2 Nil   2007   3 Nil   2007   4 Nil   2007   Full Year (.01)   2006   1 (.01)   2006   2 (.01)   2006   3 (.01)   2006   4 Nil   2006   Full Year (.02)   2005   1 Nil   2005   2 Nil   2005   3 Nil   2005   4 (.01)   2005   Full Year (.02)      S & P Disclaimer