11. SUBSEQUENT EVENTS

The Company has evaluated all events or transactions that occurred after June 30, 2025, through the date that the unaudited condensed consolidated financial statements were issued. During this period, there were no material subsequent events requiring disclosure except as stated as follows:

Between July 1, 2025 and the date that the unaudited condensed consolidated financial statements were issued, 1,800 warrants were exercised to purchase 900 shares of Common Stock at an exercise price of $20.00 per share generating gross proceeds of $18,000 and 62,900 warrants were exercised to purchase 31,450 shares of Common Stock at an exercise price of $17.00 per share generating gross proceeds of $534,650, and 10,000 stock options were exercised to purchase 10,000 common shares at an exercise price of $3.00 per share generating proceeds of $30,000.

In addition, on July 30, 2025, the Company announced the purchase of a 2.75-acre land package in Oak Brook, Illinois for $3.5 million. The purchase included a 23,537 sq. ft. building to serve as a regional demonstration and office facility to support the development of the Company’s KRONOS MMR™ Microreactor Energy System.

On August 1, 2025, Dr. Tsun Yee Law, a director of the Company, voluntarily resigned as a director of LIST, a related party (see Note 9).