NOTE 20 – SUBSEQUENT EVENTS

PIPE Convertible Notes and Issuance of Series A Preferred Stock

On July 21, 2025, in connection with the Exchange Agreements dated April 22, 2025, (i) holders of the Company’s PIPE Convertible Notes agreed to waive the remaining closing condition to the Note Exchange, and the exchange was consummated. PIPE Convertible Notes with an aggregate principal amount of $3,938,311 (representing 100% of the remaining PIPE Convertible Notes) were exchanged for 3,938 shares of the Company’s Series A Preferred Stock and (ii) the Company agreed to extend the expiration date of the Series A Preferred Warrants held by such holders by two years.

On July 21, 2025, a holder of Series A Preferred Warrants to purchase 18,333 shares of Series A Preferred Stock partially exercised its warrants for cash proceeds of approximately $5.0 million and was issued 5,555 shares of Series A Preferred Stock.

Issuance of Common Stock

Subsequent to June 30, 2025, the Company issued an aggregate of 373,308 shares of Class A common stock with fair values ranging from $4.13 - $6.31 per share to Series A Preferred Stockholders in connection with the conversion of outstanding Series A Preferred Stock, accrued interest, and make-good provisions.