Polar Power, Inc. — fact timeline

Polar Power, Inc. reported first quarter ended March 31, 2026 results: revenue $ 1,728, net income $ (178 ), EPS $ (0.05 ).

“Q1 2026 Q1 2025 Y/Y +/(-) Change Net sales $ 1,728 $ 1,723 — Gross profit $ 1,135 $ 320 255 % Gross margin 65.7 % 18.6 % 47.1 pts Total operating expenses $ 1,111 $ 1,421 22 % Income (loss) from operations $ 24 $ (1,101 ) 102 % Net loss $ (178 ) $ (1,265 ) 86 % Net loss per share $ (0.05 ) $ (0.50 ) 90 %”

Polar Power, Inc. issued common stock to Mammoth Crest Capital, LLC.

“On the Effective Date, the Company shall issue to MCC (or its designee) a number of shares of the Company’s Common Stock (the “Shares”) such that, after giving effect to the issuance of the Shares, the Shares represent 4.5% of the issued and outstanding shares of common stock of the Company on the Effective Date.”

Polar Power, Inc. issued convertible note to Monroe Street Capital Partners, LP for $340,000 purchase price.

“the Company issued to Monroe a 6% convertible redeemable note in the aggregate principal amount of $370,600 (the “Monroe Note”). The purchase price of the Monroe Note was $340,000, and the Company received net proceeds of $307,100, after deducting $12,500 to cover Monroe’s legal fees and a $20,400 payment to Craft. The Monroe Note has an interest rate of 6%”

Polar Power, Inc. issued convertible note to CFI Capital LLC for $546,000 purchase price.

““Issue Date”), the Company issued to CFI a 6% convertible redeemable note in the aggregate principal amount of $600,000 (the “CFI Note”). The purchase price of the CFI Note was $546,000, and the Company received net proceeds of $500,000, after deducting $10,000 to cover CFI’s legal fees and a $36,000 payment to Craft Capital Management, LLC (“Craft”) as a”

Polar Power, Inc. entered into Restructuring, Implementation and Management Services Agreement with Mammoth Crest Capital, LLC valued at $500,000 fee, 4.5% equity issuance, monthly retainer $25,000 (effective 2026-05-19).

“On May 21, 2026, the Company also signed a Restructuring, Implementation and Management Services Agreement (the “Services Agreement”) with Mammoth Crest Capital, LLC. (“MCC”), effective as of May 19, 2026.”

Polar Power, Inc. entered into Side Letter Relating to Note Issuance with CFI Capital LLC and Monroe Street Capital Partners, LP valued at Shareholder approval for transactions and Exchange Cap (effective 2026-05-21).

“On May 21, 2026, the Company, CFI and Monroe entered into a Side Letter Relating to Note Issuance (the “Side Letter”), pursuant to which the Company shall, within 60 calendar days after May 21, 2026, obtain a shareholder approval to effectuate the transactions contemplated by the CFI SPA, CFI Note, Monroe SPA and Monroe Note, including but not limited to the issuance of Common Stock upon the conversion of these agreements and notes in excess of 19.99% of the issued and outstanding Common Stock on the closing date (the “Exchange Cap”).”

Polar Power, Inc. entered into Securities Purchase Agreement with Monroe Street Capital Partners, LP valued at $370,600 convertible note, net proceeds $307,100 (effective 2026-05-21).

“On May 21, 2026, the Company entered into a Securities Purchase Agreement (the “Monroe SPA”) with Monroe Street Capital Partners, LP (“Monroe”). Pursuant to the Monroe SPA, on May 21, 2026 (the “Issue Date”), the Company issued to Monroe a 6% convertible redeemable note in the aggregate principal amount of $370,600 (the “Monroe Note”).”

Polar Power, Inc. entered into Securities Purchase Agreement with CFI Capital LLC valued at $600,000 convertible note, net proceeds $500,000 (effective 2026-05-21).

“On May 21, 2026, Polar Power, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “CFI SPA”) with CFI Capital LLC (“CFI”). Pursuant to the CFI SPA, on May 21, 2026 (the “Issue Date”), the Company issued to CFI a 6% convertible redeemable note in the aggregate principal amount of $600,000 (the “CFI Note”).”

Polar Power, Inc. incurred convertible notes of $370,600 with Monroe Street Capital Partners, LP at 6% per annum maturing 12 months from the Issue Date.

“(“Monroe”). Pursuant to the Monroe SPA, on May 21, 2026 (the “Issue Date”), the Company issued to Monroe a 6% convertible redeemable note in the aggregate principal amount of $370,600 (the “Monroe Note”). The purchase price of the Monroe Note was $340,000, and the Company received net proceeds of $307,100, after deducting $12,500 to cover Monroe’s legal fees”

Polar Power, Inc. incurred convertible notes of $600,000 with CFI Capital LLC at 6% per annum maturing 12 months from the Issue Date.

“Capital LLC (“CFI”). Pursuant to the CFI SPA, on May 21, 2026 (the “Issue Date”), the Company issued to CFI a 6% convertible redeemable note in the aggregate principal amount of $600,000 (the “CFI Note”). The purchase price of the CFI Note was $546,000, and the Company received net proceeds of $500,000, after deducting $10,000 to cover CFI’s legal fees and a”

Katherine Koster resigned as Director at Polar Power, Inc..

“Keith Albrecht and Katherine Koster, two of the Company’s independent directors, resigned as members of the Board of the Company, effective May 19, 2026.”

Polar Power, Inc. entered into Revolving Loan Agreement with Stone Brothers Capital valued at $2,500,000 (effective 2026-05-13).

“On May 13, 2026, Polar Power, Inc. (the “Company”) entered into a Revolving Loan Agreement (the “Loan Agreement”) with Stone Brothers Capital (the “Lender”). The Loan Agreement provides for a revolving credit facility under which the Lender may, in its sole discretion upon the request of the Company, make loans (the “Loans”) to the Company, in an aggregate principal amount at any one time outstanding not to exceed $2,500,000.”

Polar Power, Inc. incurred revolving credit of $2,500,000 with Stone Brothers Capital at 12% maturing the first anniversary of the closing date of the Loan Agreement.

“On May 13, 2026, Polar Power, Inc. (the “Company”) entered into a Revolving Loan Agreement (the “Loan Agreement”) with Stone Brothers Capital (the “Lender”). The Loan Agreement provides for a revolving credit facility under which the Lender may, in its sole discretion upon the request of the Company, make loans (the “Loans”) to the Company, in an aggregate principal amount at any one time outstanding not to exceed $2,500,000. Each Loan shall bear interest accruing at an annual rate of 12%.”

Katherine Koster resigned as Director at Polar Power, Inc..

“On May 14, 2026, Keith Albrecht and Katherine Koster, two of the Company’s independent directors, resigned as members of the Board of the Company, effective May 19, 2026.”

Keith Albrecht resigned as Director at Polar Power, Inc..

“On May 14, 2026, Keith Albrecht and Katherine Koster, two of the Company’s independent directors, resigned as members of the Board of the Company, effective May 19, 2026.”

Polar Power, Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1), 1003(a)(i)).

“May 1, 2026, Polar Power, Inc. (“ Polar Power ”, “ we ”, “ us ”, “ our ”, or the “ Company ”) received a letter (the “ Letter ”) from the staff of the Nasdaq Stock Market (“ Nasdaq ”) stating that we were not in complian”

Polar Power, Inc.: Filed a Certificate of Amendment to effect a 1:7 reverse stock split of common stock, effective November 18, 2024 (effective 2024-11-18).

“On November 18, 2024, the Company filed a Certificate of Amendment to Certificate of Incorporation (the “Certificate of Amendment”) with the Secretary of State of Delaware to effect a 1:7 reverse stock split of the shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), either issued and outstanding or held by the Company as treasury stock, effective as of 4:05 p.m. (Delaware time) on November 18, 2024 (the “Reverse Stock Split”).”

Michael G. Field was appointed as Director at Polar Power, Inc..

“The remaining members of the Board appointed and ratified Mr. Michael G. Field, to serve as a member of the Board, effective as of July 25, 2024, and to assume the position of Mr. Gross as a member of the audit committee, chair of the compensation committee and chair of the nominating and corporate governance committee of the Board.”

Peter Gross resigned as Director at Polar Power, Inc..

“As previously disclosed, Peter Gross, a member of the Board of Directors (the “Board”) of Polar Power, Inc. (the “Company”), resigned as a member of the Board of Directors of the Company.”

Polar Power, Inc. reported first quarter of 2024 results: revenue $1.8 million, net income $2.1 million, EPS $(0.12) per basic and diluted share.

“Q1 2024 Financial Highlights ● Net sales of $1.8 million compared to $4.2 million in the same period in 2023 ● Operating expenses of $1.6 million compared to $1.7 million in the same period in 2023 ● Net loss was $2.1 million, or $(0.12) per basic and diluted share, compared to a net loss of $1.1 million, or $(0.09) per basic and diluted share in the same period in 2023”

Polar Power, Inc. reported three months and full year ended December 31, 2023 results: revenue $15.3 million, net income Net loss was $6.5 million, EPS $(0.49) per basic and diluted share.

“solar hybrid DC power solutions, reports its financial results for the three months and full year ended December 31, 2023. 2023 Financial Highlights ● Net sales in 2023 were $15.3 million compared to $16.1 million in 2022 ● Gross profit for 2023 was $0.7 million compared to $2.1 million in 2022 ● Operating expenses for 2023 were $6.7 million compared to $7.7”

Polar Power, Inc. received a nasdaq deficiency notice notice regarding board independence (rules 5605, 5605(c)(4)).

“January 5, 2024, the Company received a notification letter from The Nasdaq Stock Market LLC (“Nasdaq”) that due to Mr. Gross’ resignation, the Company is no longer in compliance with Nasdaq Listing Rule 5605. Pursuant to Nasdaq Listing Rule 5605(c)(4), the Company is entitled to a cure period to regain compliance (i) until the earlier of the Company’s next annual shareholders’ meeting or December 18, 2024; or (ii) if the next annual shareholders’ meeting is held before June 17, 2024, then the Company must evidence compliance no later than June 17, 2024. The Company intends to appoint an addit”

Polar Power, Inc. shareholders approved Ratify appointment of Weinberg & Company, P.A. as independent registered public accounting firm at the 2023-12-20 meeting.

“Proposal Two : To ratify the appointment of Weinberg & Company, P.A., as the Company’s independent registered public accounting firm for the year ending December 31, 2023.”

Polar Power, Inc. shareholders approved Election of three directors at the 2023-12-20 meeting.

“Proposal One : To elect three directors to serve on the Company’s Board of Directors until the next annual meeting of stockholders and/or until their successors are duly elected and qualified.”

Peter Gross resigned as Director at Polar Power, Inc..

“notified the Company of his intention to resign from the Company’s Board of Directors for personal reasons, effective immediately.”

Polar Power, Inc. entered into Underwriting Agreement with ThinkEquity LLC valued at Underwritten public offering of 4,000,000 shares of common stock at $0.40 per share, with over-allot (effective 2023-11-30).

“Item 1.01 Entry into a Material Definitive Agreement. Underwritten Offering of Common Stock On November 30, 2023, Polar Power, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with ThinkEquity LLC, as the representative (the “Representative”) of the several underwriters named therein (collectively, the “Underwriters”), pursuant to which the Company agreed to sell to the Underwriters an aggregate of 4,000,000 shares (the “Shares”) of the Company’s common stock, $0.0001 par value per share, at a price to the public of $0.40 per share, in a firm commitment underwritten public offering (the “Offering”).”

Polar Power, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

“November 24, 2023, Polar Power, Inc. (the “Company”) received a deficiency letter from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company’s common stock is subject to potential delisting from the Nasdaq because for a period of 30 consecutive business days, the bid price of the Company’s common stock has closed below the minimum $1.00 per share requirement for continued inclusion under Nasdaq Marketplace Rule 5550(a)(2) (the “Bid Price Rule”). The Nasdaq deficiency letter has no immediate effect on the listing of the Company’s common stock, a”

Polar Power, Inc. entered into Warrant Exchange Agreement with Empery Asset Management, LP valued at Issuance of 12,062 shares of Common Stock in exchange for surrender and cancellation of Warrants to (effective 2023-11-03).

“On November 3, 2023, Polar Power, Inc. (the “Company”) entered into a Warrant Exchange Agreement (the “Agreement”) with entities affiliated with Empery Asset Management, LP (the “Empery Entities”), who are holders of the Company’s outstanding warrants (the “Warrants”) to purchase an aggregate of 24,122 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), which Warrants were originally issued pursuant to the offering described in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 8, 2020. Pursuant to the Agreement, the Company expects to issue an aggregate of 12,062 shares of Common Stock to the Empery Entities in exchange for the surrender and cancellation of the Warrants held by the Empery Entities (which Warrants represent all outstanding Warrants of the Company) on or about November 7, 2023. Upon issuance of such shares and cancellation of the Warrants, the Company will no longer have any Warrants out”

Polar Power, Inc. amended revolving credit of Increase the lesser of (i) 35% of the lower of cost or wholesale market value of certain inventory of the Company or (ii with Pinnacle Bank.

“Loan Agreement”) with Pinnacle Bank (“Pinnacle”). The Loan Agreement has been amended four times. The Loan Agreement,”

Polar Power, Inc. amended revolving credit of increased the aggregate advance limit under the credit facility from $6.0 million to $7.5 million with Pinnacle Bank maturing September 30, 2024.

“of certain inventory of the Company or (ii) $2.5 million. In no event will the aggregate amount of the outstanding advances under the revolving credit facility be greater than $6 million. The Loan Agreement’s initial term ended on August 30, 2022 and has been renewed for two additional one-year terms with an expiration date of September 30, 2024.”

Polar Power, Inc. reported the three and six months ended June 30, 2023 results: revenue $5.5 million, net income Net loss for Q2 2023 totaled $436,000, or $(0.03) per basic and diluted share, EPS $(0.03) per basic and diluted share.

“three and six months ended June 30, 2023. Key Q2 2023 Results and Highlights: Financial Results for the Three and Six Months Ended June 30, 2023 ● Net sales for Q2 2023 were $5.5 million, a 31% increase compared to $4.2 million in the same period last year. Net sales for the six months ended June 30, 2023 were $9.7 million, a 22% increase, as compared to $7.9”

Polar Power, Inc. amended revolving credit of $6 million with Pinnacle Bank.

“On May 25, 2023, the Company entered into a Fourth Modification to Loan and Security Agreement (the “Fourth Modification”) by and between the Company and Pinnacle under which the parties (a) agreed to amend the amount of available advances under the Loan Agreement such that the aggregate amount of the outstanding advances under the revolving credit facility may not be greater than $6 million”

Polar Power, Inc. incurred term loan of $146,000 with Pinnacle Bank.

“On April 13, 2023, the Company entered into a Third Modification to Loan and Security Agreement (the “Third Modification”) by and between the Company and Pinnacle under which the parties agreed to add a new section 2.13 which provides that Pinnacle shall lend to the Company the principal sum of $146,000.”

Polar Power, Inc. amended Fourth Modification to Loan and Security Agreement with Pinnacle Bank valued at $6 million (effective 2023-05-25).

“On May 25, 2023, the Company entered into a Fourth Modification to Loan and Security Agreement (the “Fourth Modification”) by and between the Company and Pinnacle under which the parties (a) agreed to amend the amount of available advances under the Loan Agreement such that the aggregate amount of the outstanding advances under the revolving credit facility may not be greater than $6 million, and (b) raised the concentration percentage applicable to certain Tier-1 telecommunication customers from 50% to 75% in the definition of Eligible Accounts.”

Polar Power, Inc. amended Third Modification to Loan and Security Agreement with Pinnacle Bank valued at $146,000 (effective 2023-04-13).

“On April 13, 2023, the Company entered into a Third Modification to Loan and Security Agreement (the “Third Modification”) by and between the Company and Pinnacle under which the parties agreed to add a new section 2.13 which provides that Pinnacle shall lend to the Company the principal sum of $146,000.”

Polar Power, Inc. reported the quarter ended March 31, 2023 results: revenue $4.1 million, net income $1.1 million, EPS $(0.09) per basic and dilutive share.

“for the quarter ended March 31, 2023. Key Q1 2023 Results and Highlights: Financial Results for the Three Months Ended March 31, 2023 ● Net sales for Q1 2023 increased to $4.1 million, representing a 13% increase, compared to $3.7 million during the same period last year. ● We had a gross profit of $755,000 at the end of Q1 2023, as compared to a gross profit”

Polar Power, Inc. shareholders approved Non-binding advisory vote on the frequency of future advisory votes on executive compensation at the 2022-12-21 meeting.

“a majority of the Company’s stockholders that voted on the matter indicated a preference to hold, on a non-binding advisory basis, the Company’s future non-binding advisory votes on executive compensation, or say on pay votes, every three years.”

Polar Power, Inc. shareholders approved Non-binding advisory vote to determine the frequency of the non-binding advisory vote on executive compensation at the 2022-12-21 meeting.

“Proposal Four : To conduct a non-binding advisory vote to determine the frequency of the non-binding advisory vote on executive compensation. Total Votes One Year 789,376 Two Years 17,092 Three Years 5,694,886 Abstain 40,758 Broker Non-Votes 2,695,667”

Polar Power, Inc. shareholders approved Non-binding advisory vote to approve the compensation paid to the named executive officers at the 2022-12-21 meeting.

“Proposal Three : To conduct a non-binding advisory vote to approve the compensation paid to the Company’s named executive officers. Total Votes For 6,432,759 Against 97,147 Abstain 12,205 Broker Non-Votes 2,695,667”

Polar Power, Inc. shareholders approved Ratification of Weinberg & Company, P.A. as the independent registered public accounting firm for the year ending December 31, 2022 at the 2022-12-21 meeting.

“Proposal Two : To ratify the appointment of Weinberg & Company, P.A., as the Company’s independent registered public accounting firm for the year ending December 31, 2022. Total Votes For 9,141,819 Against 70,429 Abstain 25,531 Broker Non-Votes N/A”

Polar Power, Inc. shareholders approved Election of four directors to serve until the next annual meeting at the 2022-12-21 meeting.

“Proposal One : To elect four directors to serve on the Company’s Board of Directors until the next annual meeting of stockholders and/or until their successors are duly elected and qualified. The nominees for election are Arthur D. Sams, Keith Albrecht, Peter Gross and Katherine Koster. The following nominees were elected by the votes indicated to serve as directors until the next annual meeting of stockholders and/or until their successors are duly elected and qualified: Name Total Votes for Director Total Votes Withheld from Director Total Broker Non-Votes Arthur D. Sams 6,497,303 44,809 2,695,667 Keith Albrecht 6,495,394 46,718 2,695,667 Peter Gross 6,496,847 45,264 2,695,667 Katherine Koster 6,497,688 44,423 2,695,667”

Polar Power, Inc. reported the nine months ended September 30, 2022 results: revenue $9.6 million, net income $4.2 million, EPS $(0.33) per basic and dilutive share.

“Q3 2022 were $1.7 million, representing a 59% decrease, compared to $4.1 million during the same period last year. Net sales for the nine months ended September 30, 2022 were $9.6 million, representing a 21% decrease, compared to $12.2 million during the same period last year. Supply chain constraints during the last two quarters was the primary reason for the”

Polar Power, Inc. reported the three months ended September 30, 2022 results: revenue $1.7 million, net income $2.3 million, EPS $(0.19) per basic and dilutive share.

“nine months ended September 30, 2022. Key Q3 2022 Results and Highlights: Financial Results for the Three and Nine Months Ended September 30, 2022 ● Net sales for Q3 2022 were $1.7 million, representing a 59% decrease, compared to $4.1 million during the same period last year. Net sales for the nine months ended September 30, 2022 were $9.6 million, representing a”

Rajesh Masina resigned as Chief Operating Officer at Polar Power, Inc..

“On January 10, 2022, Rajesh Masina notified Polar Power, Inc. (the “Company”) of his resignation from the position of the Chief Operating Officer of the Company, effective January 21, 2022.”