SHOREPOWER TECHNOLOGIES INC. Annual Report Summary

I’ve put together this guide to help you understand Shorepower Technologies’ performance this year. My goal is to explain their progress and financial health in plain English, helping you decide if this company fits your portfolio without the Wall Street jargon.

1. What does this company do?

Shorepower is an Oregon-based transportation company. They operate about 60 locations across the U.S. where long-haul truck drivers plug in for electricity. This powers heating, cooling, and appliances while parked. By using this service, drivers turn off their diesel engines, saving fuel and cutting emissions. The company is now pivoting to turn this infrastructure into a broader electric vehicle (EV) charging network for commercial fleets.

2. Financial Performance

Shorepower is a very small company. Its stock trades for less than $1.00, making it a "penny stock." This means the price can swing wildly, and it is harder to buy or sell shares quickly compared to larger companies.

• Revenue Growth: Revenue jumped from $65,000 in 2024 to $203,000 in 2025—a 212% increase. This growth came from more drivers using their existing truck stop charging stations.
• Profitability: The company is not yet making a profit. However, they narrowed their loss from $450,318 in 2024 to $337,094 in 2025, a 25% improvement.
• Efficiency: Management cut audit, legal, and consulting fees by over 60%. This was a vital move to save their limited cash.

3. The "Going Concern" Warning

Auditors issued a "going concern" warning. This means the company currently owes more than it owns and lacks enough cash to run the business for the next 12 months. Shorepower is burning through cash to cover daily costs and relies almost entirely on issuing and selling new shares of stock to stay in business.

4. Major Wins and Challenges

• The "Upgrade" Advantage: Shorepower already has agreements at 60 locations. Upgrading these sites for EVs costs 40–50% less than building new stations from scratch.
• Innovation: They are developing a charger with built-in battery storage. This avoids expensive utility grid upgrades and keeps chargers working during power outages.
• Lean Operations: With only two full-time employees, the company keeps costs low. However, this small team limits their ability to market, sell, and build new stations quickly.
• Risks: The company has limited legal protection for its technology because patents are expensive to maintain. Furthermore, their business depends heavily on government rules. If regulations on diesel idling or EV subsidies change, their market could shrink.

5. Future Outlook

Shorepower is in a high-stakes phase. They are betting that their cheaper, portable technology will help them compete against giants like Tesla and Siemens. It is a classic "high-risk, high-reward" play. Because they aren't profitable, they fund operations by issuing more shares. This dilutes your ownership, meaning you own a smaller percentage of the company as they raise more money to survive.

Investor Note: Before deciding to invest, consider whether you are comfortable with the risks associated with "penny stocks" and companies that rely on selling new shares to fund daily operations. This is a speculative opportunity that requires a high tolerance for volatility.