NOTE 10: SUBSEQUENT EVENTS

The Company evaluated subsequent events from June 30, 2025, the date of these unaudited condensed consolidated financial statements, through August 13, 2025, which represents the date the condensed consolidated financial statements were issued, for events requiring recognition or disclosure in the condensed consolidated financial statements for the six months ended June 30, 2025. The Company concluded that no events have occurred that would require recognition or disclosure in the condensed consolidated financial statements except for the conversion of the Notes on July 27, 2025 and the related issuance of the July 2025 Warrants and placement agent warrants, as described in Note 7 above. As a result of the conversion of the Notes on July 27, 2025, the Company classified the fair value of the Notes from current liabilities to shareholders’ equity. Therefore, as of the date hereof, the Company believes that it satisfies the minimum shareholders’ equity requirement of $2.5 million under Nasdaq Listing Rule 5550(b)(1) for continued listing on the Nasdaq Capital Market.