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10-K true 2025-12-31 --12-31 2025 false 001-40652 INDAPTUS THERAPEUTICS, INC. DE 86-3158720 3 Columbus Circle 15th Floor New York NY 10019 (646) 427-2727 Common stock, par value $0.01 INDP NASDAQ Non-accelerated Filer true false false false false 5781886 2242324 Cybersecurity Risk Management and Strategy<span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_905_ecyd--CybersecurityRiskManagementProcessesIntegratedTextBlock_c20250101__20251231_zGKsCpYzciU1">We, through our third party service provider that manages our information technology systems and networks, have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_903_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbT_c20250101__20251231_ztBX0YElIMZ2">integrity, and availability of our critical systems and information. Our cybersecurity risk management program includes a cybersecurity incident response plan. We design and assess our program based on the National Institute of Standards and Technology Cybersecurity Framework (NIST CSF). This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use the NIST CSF as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business. Our cybersecurity risk management program includes: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_906_ecyd--CybersecurityRiskProcessForInformingManagementOrCommitteesResponsibleTextBlock_c20250101__20251231_zkVlkWHnenyl">risk assessments designed to help identify material cybersecurity risks to our critical systems, information, products, services, and our broader enterprise IT environment;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90C_ecyd--CybersecurityRiskRoleOfManagementTextBlock_c20250101__20251231_zXbRueKj1t2">designated team members who are responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">the use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security controls; and</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">a cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents.</td></tr> </table> We have not identified risks from known cybersecurity threats, that have <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_900_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbT_c20250101__20251231_zjUaaS5YR6uf">materially affected or are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition. See Item 1A. “Risk Factors - Our Risks Related to Our Business - Our business and operations may suffer in the event of information technology system failures, cyberattacks or deficiencies in our cybersecurity.” We, through our third party service provider that manages our information technology systems and networks, have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_903_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbT_c20250101__20251231_ztBX0YElIMZ2">integrity, and availability of our critical systems and information true risk assessments designed to help identify material cybersecurity risks to our critical systems, information, products, services, and our broader enterprise IT environment; designated team members who are responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents; true Our Board considers cybersecurity risk as part of its risk oversight function and oversees our cybersecurity and other information technology risks and management’s implementation of our cybersecurity risk management program. Our management team, including our Chief Operating Officer, is responsible for assessing and managing our material risks from cybersecurity threats. Our Chief Operating Officer has primary responsibility for our overall cybersecurity risk management program and supervises our retained provider of IT services and external cybersecurity consultants. Our Chief Operating Officer has experience supervising and managing company security and privacy departments. 200 We have audited the accompanying consolidated balance sheets of Indaptus Therapeutics, Inc. (the “Company”) as of December 31, 2025 and 2024, the related consolidated statements of operations and comprehensive loss, stockholders’ equity, and cash flows for each of the years then ended, and the related notes (collectively, the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Company as of December 31, 2025 and 2024, and the consolidated results of its operations and its cash flows for each of the years then ended, in conformity with U.S. generally accepted accounting principles. Haskell & White LLP Irvine, California

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NOTE 1: GENERAL Indaptus Therapeutics, Inc. and its wholly-owned subsidiaries, Decoy Biosystems, Inc. and Intec Pharma Ltd. (collectively the “Company”), is a biotechnology company dedicated to enhancing and expanding curative cancer immunotherapy for patients with unresectable or metastatic solid tumors and lymphomas, which are responsible for more than 90% of all cancer deaths. The Company is developing a novel, multi-targeted product that activates both innate and adaptive anti-tumor and anti-viral immune responses. On December 22, 2025, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with David E. Lazar, pursuant to which he agreed to purchase from the Company <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20251222__20251222__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAAPreferredStockMember_zGtvdLRwg2Mf" title="Number of shares issued">300,000 shares of Series AA Preferred Stock (the “Series AA Preferred Stock”) and <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20251222__20251222__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAAAPreferredStockMember_zc1C4eLapirg" title="Number of shares issued">700,000 shares of Series AAA Preferred Stock (the “Series AAA Preferred Stock” and, together with the Series AA Preferred Stock, the “Preferred Stock”) at a purchase price of $6.00 per share of Preferred Stock for aggregate gross proceeds of $6.0 million, subject to the terms and conditions thereunder (the “Investment Transaction”). The offering closed on December 23, 2025. As part of the Investment Transaction, the Company plans to pursue a strategic transaction involving either an investment in or acquisition of an operating business (the “Target Company”, referred to as the “Post-Investment Transaction”). The Company is currently in the process of evaluating its strategic options for a Post-Investment Transaction. For more details, see Note 6(e). Risks and uncertainties The Company is subject to a number of risks similar to those of other companies of similar size in its industry, including, but not limited to, the need for successful development of products, the need for additional capital (or financing) to fund operations (see below), competition from substitute products and services from larger companies, protection of proprietary technology, patent litigation, and dependence on key individuals. In addition, the Company is subject to risks related to its ability to realize the anticipated benefits of the Investment Transaction in the event it is not able to identify and/or pursue a Post-Investment Transaction. Going concern and management’s plans The Company has incurred net losses and utilized cash in operations since inception. For the year ended December 31, 2025, the Company incurred a net loss of approximately $20.8 million, and as of December 31, 2025, the Company had an accumulated deficit of approximately $81.3 million. In addition, during the year ended December 31, 2025, the Company used approximately $14.8 million of cash in operations and expects to continue to incur significant cash outflows and incur future additional losses as it continues to evaluate the phase 1 data of the Company’s lead product candidate while actively exploring strategic options for a Post-Investment Transaction. The Company believes that, as of the date of the issuance of these consolidated financial statements, it has adequate cash to fund its ongoing activities into the second quarter of 2026 based on its current operating plan. The Company plans to execute its operating plan by obtaining additional capital, principally through entering into additional public or private debt and equity financing. In February 2025, the Company entered into a Standby Equity Purchase Agreement pursuant to which the Company has the right, but not the obligation, to sell up to $<span id="xdx_902_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn5n6_c20250201__20250228__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember__srt--RangeAxis__srt--MaximumMember_zzuhGHrhwoQh" title="Purchase ordinary shares">20.0 million of the Company’s common stock during a 36-month period, subject to the restrictions and satisfaction of the conditions in the Standby Equity Purchase Agreement (the “SEPA”). During 2025, the Company raised net proceeds of approximately $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn4n6_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementMember_zDeLqz4R7gSc" title="Proceeds from issuance of equity">1.74 million under the SEPA, after deducting offering expenses in the amount of approximately $0.1 million. For more details, see Note 6(c). In June 2025, the Company raised total gross proceeds of approximately $<span id="xdx_901_eus-gaap--ProceedsFromConvertibleDebt_pn5n6_c20250601__20250630__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zLGxkjMyjmX7" title="Gross proceeds from issuance of convertible notes">5.7 million through the issuance of convertible notes. Placement agent fees and other offering-related expenses totaled approximately $0.8 million. For more details, see Note 7. In September 2025, the Company raised total gross proceeds of approximately $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn4n6_c20250901__20250930__us-gaap--PlanNameAxis__custom--AtTheMarketOfferingAgreementMember_zDWpMaag0gDa" title="Proceeds from issuance of common stock">2.34 million through its At The Market Offering Agreement (“ATM Agreement”). For more details, see Note 6(d). In December 2025, the Company raised total gross proceeds of $6.0 million from Mr. Lazar in the Investment Transaction. For more details, see Note 6(e). However, there is no assurance that additional capital and/or financing will be available to the Company, and even if available, whether it will be on terms acceptable to the Company or in the amounts required. If the Company is unsuccessful in securing sufficient financing, it may need to delay, reduce, or eliminate its research and development programs, which could adversely affect its business prospects, or cease operations. As a result of these uncertainties, there is substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments to the carrying amounts and classifications of assets and liabilities that would result if the Company was unable to continue as a going concern. Reverse Split On June 26, 2025, the Company effected a 1-for-28 reverse stock split of its common stock and began trading on a post-split basis on the Nasdaq Capital Market on June 27, 2025, which resulted in the Company regaining compliance with the Nasdaq minimum bid price requirement. As a result of the reverse stock split, every 28 shares of outstanding common stock were combined into one share of common stock. The reverse stock split decreased the Company’s outstanding common stock from 16,946,528 shares to 604,963 shares as of that date. In addition, a proportionate adjustment was made to the per share exercise price and the number of shares issuable upon the exercise of all outstanding options and warrants entitling the holders to purchase common stock. All share and per share amounts in these consolidated financial statements have been retroactively adjusted to reflect the reverse stock split.

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NOTE 2: SIGNIFICANT ACCOUNTING POLICIES Basis of presentation These consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). Principles of consolidation These consolidated financial statements include the accounts of Indaptus and its subsidiaries. Intercompany balances and transactions have been eliminated upon consolidation. Use of estimates The preparation of these consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. The most significant estimates relate to the determination of the fair value of stock-based compensation and the determination of period-end obligations to certain contract research organizations. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and adjusts when facts and circumstances dictate. These estimates are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from those estimates. Loss per share Loss per share, basic and diluted, is computed on the basis of the net loss for the period divided by the weighted average number of shares of common stock outstanding during the period. Diluted loss per share is based upon the weighted average number of shares of common stock and of common stock equivalents outstanding when dilutive. Common stock equivalents include outstanding stock options, warrants, pre-funded warrants, and convertible Preferred Stock, which are included under the treasury stock method when dilutive. <p id="xdx_897_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z1fqFe9cvE9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following number of stock options, warrants, pre-funded warrants, and convertible Preferred Stock were excluded from the calculation of diluted loss per share because their effect would have been anti-dilutive for the periods presented (share data): SCHEDULE OF ANTI-DILUTIVE SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Weighted average</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the year ended December 31,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Outstanding stock options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zLQ6Pt5T2ym" style="width: 16%; text-align: right" title="Anti-dilutive securities">104,103</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zN9HTt51XFPb" style="width: 16%; text-align: right" title="Anti-dilutive securities">2,519,419</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zqIjRjCgLEsg" style="text-align: right" title="Anti-dilutive securities">942,729</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zTiFC4tuo4fg" style="text-align: right" title="Anti-dilutive securities">3,935,282</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Pre-funded warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PrefundedWarrantsMember_zznjoKjpCfi6" style="text-align: right" title="Anti-dilutive securities">50,911</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PrefundedWarrantsMember_znGS9uTP5mDi" style="text-align: right" title="Anti-dilutive securities">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Preferred stock</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--PreferredStockMember_zGftVeZSW2kh" style="text-align: right" title="Anti-dilutive securities">21,978</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--PreferredStockMember_zO0zqQMBmgc2" style="text-align: right" title="Anti-dilutive securities">-</td><td style="text-align: left"> </td></tr> </table> Cash and cash equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. As of December 31, 2025, and 2024, cash and cash equivalents consist primarily of checking and money market deposits. The Company’s cash balances exceed those that are federally insured; however, the Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash and cash equivalents are held. To date, the Company has not recognized any losses caused by uninsured balances. Property and equipment Property and equipment assets are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. The Company uses an estimated useful life of <span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputersAndOtherOfficeEquipmentMember_zhTX9LAQUoXe" title="Estimated useful life">three years for employee-related computers and other office equipment and five years for furniture. Leasehold improvements are amortized over the shorter of the lease term or the estimated useful life of the related asset. Patents The Company expenses patent costs, including related legal costs, as incurred and records such costs within general and administrative expense. Research and development expenses Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of salaries, share-based compensation expenses, payroll taxes and other employee benefits, subcontractors and materials used for research and development activities, including clinical trials and professional services. All costs associated with research and development are expensed as incurred. The Company accrues for expenses resulting from obligations under agreements with contract research organizations (“CROs”), contract manufacturing organizations (“CMOs”), and other outside service providers for which payment flows do not match the periods over which services or materials are provided to the Company. Accruals are recorded based on estimates of services received and efforts expended pursuant to agreements with CROs, CMOs, and other outside service providers. These estimates are typically based on contracted amounts applied to the proportion of work performed and determined through analysis with internal personnel and external service providers as to the progress or stage of completion of the services. In the event advance payments are made to a CRO, CMO, or outside service provider, the payments are recorded as a prepaid expense which is amortized or expensed as the contracted services are performed. <p id="xdx_84D_eus-gaap--SellingGeneralAndAdministrativeExpensesPolicyTextBlock_zL2NkrCqI1g1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">General and administrative expenses General and administrative expenses include compensation, employee benefits, and stock-based compensation for executive management, finance, administration and human resources, facility costs (including rent), professional service fees, and other general overhead costs to support the Company’s operations. Income taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded for deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized in the foreseeable future. As of December 31, 2025, and 2024, the Company has recorded a full valuation allowance against its deferred tax assets. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expenses. Stock-based compensation The Company measures and records the expense related to stock-based payment awards based on the fair value of those awards as determined using the Black-Scholes-Merton (“Black-Scholes”) model as of the date of grant. The Company recognizes stock-based compensation expense over the requisite service period of the individual grant, generally equal to the vesting period, on a straight-line basis. The Black-Scholes model requires the use of highly subjective and complex assumptions, which determine the fair value of stock-based payment awards, including the option’s expected term and the price volatility of the underlying stock. The Company estimates the fair value of options granted by using the Black-Scholes model with the following assumptions: Expected Volatility—The Company estimates volatility for option grants by evaluating the historical volatility of a peer group of companies, together with the historical volatility of its own stock, for the period immediately preceding the option grant for a term that is approximately equal to the options’ expected term. Expected Term—The expected term of the Company’s options represents the period that the stock-based payment awards are expected to be outstanding. The expected term is estimated using the simplified method for employee stock options since the Company does not have adequate historical exercise data to estimate the expected term. Risk-Free Interest Rate—The risk-free interest rate is based on the implied yield currently available on U.S. Treasury zero-coupon issues with a term that is equal to the options’ expected term at the grant date. Dividend Yield—The Company has not declared or paid dividends to date and does not anticipate declaring dividends. As such, the dividend yield has been estimated to be zero. The Company has elected to recognize forfeitures as they occur. Fair Value Measurement ASC 820, Fair Value Measurements, (“ASC 820”) provides guidance on the development and disclosure of fair value measurements. Under this accounting guidance, fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The accounting guidance classifies fair value measurements in one of the following three categories for disclosure purposes: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in">Level 1:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Quoted prices in active markets for identical assets or liabilities.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Level 2:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Level 3:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Unobservable inputs which are supported by little or no market activity and values determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.</td></tr> </table> The Company evaluates assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level at which to classify them for each reporting period. This determination requires significant judgments to be made by the Company. As of December 31, 2025 and December 31, 2024, the recorded values of cash and cash equivalents, prepaid expenses, accounts payable, and accrued expenses and other liabilities approximated their fair values due to the short-term nature of these items. Convertible notes In 2025, the Company issued convertible notes and elected to account for the debt at fair value. Such fair value measurements are categorized within Level 3 of the fair value hierarchy. The changes in the fair value of the convertible notes are recognized separately in the statement of operations. For more details, see Note 7. The following table summarizes the change in fair value of the Company’s Level 3 liabilities for the year ended December 31, 2025: SCHEDULE OF CONVERTIBLE DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_4B1_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_zSSe0uSgKyil" style="border-bottom: Black 1pt solid; text-align: center">Convertible promissory notes</td><td> </td></tr> <tr id="xdx_43B_c20250101__20251231_eus-gaap--ConvertibleNotesPayableCurrent_iS_zdDcWMVA9xMl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Fair value, January 1, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AdditionsToConvertibleNotesPayableCurrent_zkPRB2clGqq3" style="vertical-align: bottom; background-color: White"> <td style="width: 80%">Additions</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">5,714,800</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ChangeInFairValueToConvertibleNotesPayableCurrent_zD0yuUOXYtX6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,153,421</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ConversionOfPromissoryNotesIntoSharesAndWarrants_zLVD9tJaanml" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Conversion of promissory notes into shares and warrants</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,868,221</td><td style="text-align: left">)</td></tr> <tr id="xdx_43D_c20250101__20251231_eus-gaap--ConvertibleNotesPayableCurrent_iE_zu5Pg51VeDa3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Fair value, December 31, 2025</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="text-align: left"> </td></tr> </table> Recently adopted accounting pronouncements In December 2023, the FASB issued Accounting Standards Update (“ASU”) No. 2023-09, Improvements to Income Tax Disclosures. This ASU does not change accounting for income taxes but requires new disclosures focusing on two areas, the effective rate reconciliation and taxes paid. The Company adopted the standard and applied the disclosure requirements on a prospective basis as required for the year ended December 31, 2025. Recently issued accounting pronouncements In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures. This ASU will require entities to provide enhanced disclosures, in a tabular format, related to certain expense categories included in the statement of operations. The ASU aims to increase transparency and provide investors with more detailed information about the nature of expenses reported on the face of the income statement. The new ASU is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on the related disclosures. In December 2025, the FASB issued ASU No. 2025-11, Interim Reporting. This ASU was issued to enhance consistency in interim reporting for all entities by providing clarity about the current interim reporting requirements and creating a comprehensive list of interim disclosures required under US GAAP. This ASU is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted and amendments can be applied either prospectively or retrospectively. The Company is currently evaluating the impact of the adoption of this standard on its interim disclosures.

Basis of presentation These consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”).

Principles of consolidation These consolidated financial statements include the accounts of Indaptus and its subsidiaries. Intercompany balances and transactions have been eliminated upon consolidation.

Use of estimates The preparation of these consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. The most significant estimates relate to the determination of the fair value of stock-based compensation and the determination of period-end obligations to certain contract research organizations. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and adjusts when facts and circumstances dictate. These estimates are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from those estimates.

Loss per share Loss per share, basic and diluted, is computed on the basis of the net loss for the period divided by the weighted average number of shares of common stock outstanding during the period. Diluted loss per share is based upon the weighted average number of shares of common stock and of common stock equivalents outstanding when dilutive. Common stock equivalents include outstanding stock options, warrants, pre-funded warrants, and convertible Preferred Stock, which are included under the treasury stock method when dilutive. <p id="xdx_897_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z1fqFe9cvE9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following number of stock options, warrants, pre-funded warrants, and convertible Preferred Stock were excluded from the calculation of diluted loss per share because their effect would have been anti-dilutive for the periods presented (share data): SCHEDULE OF ANTI-DILUTIVE SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Weighted average</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the year ended December 31,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Outstanding stock options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zLQ6Pt5T2ym" style="width: 16%; text-align: right" title="Anti-dilutive securities">104,103</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zN9HTt51XFPb" style="width: 16%; text-align: right" title="Anti-dilutive securities">2,519,419</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zqIjRjCgLEsg" style="text-align: right" title="Anti-dilutive securities">942,729</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zTiFC4tuo4fg" style="text-align: right" title="Anti-dilutive securities">3,935,282</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Pre-funded warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PrefundedWarrantsMember_zznjoKjpCfi6" style="text-align: right" title="Anti-dilutive securities">50,911</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PrefundedWarrantsMember_znGS9uTP5mDi" style="text-align: right" title="Anti-dilutive securities">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Preferred stock</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--PreferredStockMember_zGftVeZSW2kh" style="text-align: right" title="Anti-dilutive securities">21,978</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--PreferredStockMember_zO0zqQMBmgc2" style="text-align: right" title="Anti-dilutive securities">-</td><td style="text-align: left"> </td></tr> </table>

<p id="xdx_897_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z1fqFe9cvE9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following number of stock options, warrants, pre-funded warrants, and convertible Preferred Stock were excluded from the calculation of diluted loss per share because their effect would have been anti-dilutive for the periods presented (share data): SCHEDULE OF ANTI-DILUTIVE SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Weighted average</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the year ended December 31,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Outstanding stock options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zLQ6Pt5T2ym" style="width: 16%; text-align: right" title="Anti-dilutive securities">104,103</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zN9HTt51XFPb" style="width: 16%; text-align: right" title="Anti-dilutive securities">2,519,419</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zqIjRjCgLEsg" style="text-align: right" title="Anti-dilutive securities">942,729</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zTiFC4tuo4fg" style="text-align: right" title="Anti-dilutive securities">3,935,282</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Pre-funded warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PrefundedWarrantsMember_zznjoKjpCfi6" style="text-align: right" title="Anti-dilutive securities">50,911</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PrefundedWarrantsMember_znGS9uTP5mDi" style="text-align: right" title="Anti-dilutive securities">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Preferred stock</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--PreferredStockMember_zGftVeZSW2kh" style="text-align: right" title="Anti-dilutive securities">21,978</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--PreferredStockMember_zO0zqQMBmgc2" style="text-align: right" title="Anti-dilutive securities">-</td><td style="text-align: left"> </td></tr> </table>

104103

2519419

942729

3935282

50911

21978

Cash and cash equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. As of December 31, 2025, and 2024, cash and cash equivalents consist primarily of checking and money market deposits. The Company’s cash balances exceed those that are federally insured; however, the Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash and cash equivalents are held. To date, the Company has not recognized any losses caused by uninsured balances.

Property and equipment Property and equipment assets are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. The Company uses an estimated useful life of <span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputersAndOtherOfficeEquipmentMember_zhTX9LAQUoXe" title="Estimated useful life">three years for employee-related computers and other office equipment and five years for furniture. Leasehold improvements are amortized over the shorter of the lease term or the estimated useful life of the related asset.

P3Y

P5Y

Patents The Company expenses patent costs, including related legal costs, as incurred and records such costs within general and administrative expense.

Research and development expenses Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of salaries, share-based compensation expenses, payroll taxes and other employee benefits, subcontractors and materials used for research and development activities, including clinical trials and professional services. All costs associated with research and development are expensed as incurred. The Company accrues for expenses resulting from obligations under agreements with contract research organizations (“CROs”), contract manufacturing organizations (“CMOs”), and other outside service providers for which payment flows do not match the periods over which services or materials are provided to the Company. Accruals are recorded based on estimates of services received and efforts expended pursuant to agreements with CROs, CMOs, and other outside service providers. These estimates are typically based on contracted amounts applied to the proportion of work performed and determined through analysis with internal personnel and external service providers as to the progress or stage of completion of the services. In the event advance payments are made to a CRO, CMO, or outside service provider, the payments are recorded as a prepaid expense which is amortized or expensed as the contracted services are performed.

<p id="xdx_84D_eus-gaap--SellingGeneralAndAdministrativeExpensesPolicyTextBlock_zL2NkrCqI1g1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">General and administrative expenses General and administrative expenses include compensation, employee benefits, and stock-based compensation for executive management, finance, administration and human resources, facility costs (including rent), professional service fees, and other general overhead costs to support the Company’s operations.

Income taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded for deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized in the foreseeable future. As of December 31, 2025, and 2024, the Company has recorded a full valuation allowance against its deferred tax assets. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expenses.

Stock-based compensation The Company measures and records the expense related to stock-based payment awards based on the fair value of those awards as determined using the Black-Scholes-Merton (“Black-Scholes”) model as of the date of grant. The Company recognizes stock-based compensation expense over the requisite service period of the individual grant, generally equal to the vesting period, on a straight-line basis. The Black-Scholes model requires the use of highly subjective and complex assumptions, which determine the fair value of stock-based payment awards, including the option’s expected term and the price volatility of the underlying stock. The Company estimates the fair value of options granted by using the Black-Scholes model with the following assumptions: Expected Volatility—The Company estimates volatility for option grants by evaluating the historical volatility of a peer group of companies, together with the historical volatility of its own stock, for the period immediately preceding the option grant for a term that is approximately equal to the options’ expected term. Expected Term—The expected term of the Company’s options represents the period that the stock-based payment awards are expected to be outstanding. The expected term is estimated using the simplified method for employee stock options since the Company does not have adequate historical exercise data to estimate the expected term. Risk-Free Interest Rate—The risk-free interest rate is based on the implied yield currently available on U.S. Treasury zero-coupon issues with a term that is equal to the options’ expected term at the grant date. Dividend Yield—The Company has not declared or paid dividends to date and does not anticipate declaring dividends. As such, the dividend yield has been estimated to be zero. The Company has elected to recognize forfeitures as they occur.

Fair Value Measurement ASC 820, Fair Value Measurements, (“ASC 820”) provides guidance on the development and disclosure of fair value measurements. Under this accounting guidance, fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The accounting guidance classifies fair value measurements in one of the following three categories for disclosure purposes: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in">Level 1:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Quoted prices in active markets for identical assets or liabilities.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Level 2:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">Level 3:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Unobservable inputs which are supported by little or no market activity and values determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.</td></tr> </table> The Company evaluates assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level at which to classify them for each reporting period. This determination requires significant judgments to be made by the Company. As of December 31, 2025 and December 31, 2024, the recorded values of cash and cash equivalents, prepaid expenses, accounts payable, and accrued expenses and other liabilities approximated their fair values due to the short-term nature of these items.

Convertible notes In 2025, the Company issued convertible notes and elected to account for the debt at fair value. Such fair value measurements are categorized within Level 3 of the fair value hierarchy. The changes in the fair value of the convertible notes are recognized separately in the statement of operations. For more details, see Note 7. The following table summarizes the change in fair value of the Company’s Level 3 liabilities for the year ended December 31, 2025: SCHEDULE OF CONVERTIBLE DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_4B1_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_zSSe0uSgKyil" style="border-bottom: Black 1pt solid; text-align: center">Convertible promissory notes</td><td> </td></tr> <tr id="xdx_43B_c20250101__20251231_eus-gaap--ConvertibleNotesPayableCurrent_iS_zdDcWMVA9xMl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Fair value, January 1, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AdditionsToConvertibleNotesPayableCurrent_zkPRB2clGqq3" style="vertical-align: bottom; background-color: White"> <td style="width: 80%">Additions</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">5,714,800</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ChangeInFairValueToConvertibleNotesPayableCurrent_zD0yuUOXYtX6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,153,421</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ConversionOfPromissoryNotesIntoSharesAndWarrants_zLVD9tJaanml" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Conversion of promissory notes into shares and warrants</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,868,221</td><td style="text-align: left">)</td></tr> <tr id="xdx_43D_c20250101__20251231_eus-gaap--ConvertibleNotesPayableCurrent_iE_zu5Pg51VeDa3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Fair value, December 31, 2025</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="text-align: left"> </td></tr> </table>

The following table summarizes the change in fair value of the Company’s Level 3 liabilities for the year ended December 31, 2025: SCHEDULE OF CONVERTIBLE DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_4B1_us-gaap--FairValueByFairValueHierarchyLevelAxis_us-gaap--FairValueInputsLevel3Member_zSSe0uSgKyil" style="border-bottom: Black 1pt solid; text-align: center">Convertible promissory notes</td><td> </td></tr> <tr id="xdx_43B_c20250101__20251231_eus-gaap--ConvertibleNotesPayableCurrent_iS_zdDcWMVA9xMl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Fair value, January 1, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AdditionsToConvertibleNotesPayableCurrent_zkPRB2clGqq3" style="vertical-align: bottom; background-color: White"> <td style="width: 80%">Additions</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">5,714,800</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ChangeInFairValueToConvertibleNotesPayableCurrent_zD0yuUOXYtX6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,153,421</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ConversionOfPromissoryNotesIntoSharesAndWarrants_zLVD9tJaanml" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Conversion of promissory notes into shares and warrants</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,868,221</td><td style="text-align: left">)</td></tr> <tr id="xdx_43D_c20250101__20251231_eus-gaap--ConvertibleNotesPayableCurrent_iE_zu5Pg51VeDa3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Fair value, December 31, 2025</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="text-align: left"> </td></tr> </table>

5714800 1153421 -6868221 Recently adopted accounting pronouncements In December 2023, the FASB issued Accounting Standards Update (“ASU”) No. 2023-09, Improvements to Income Tax Disclosures. This ASU does not change accounting for income taxes but requires new disclosures focusing on two areas, the effective rate reconciliation and taxes paid. The Company adopted the standard and applied the disclosure requirements on a prospective basis as required for the year ended December 31, 2025.

Recently issued accounting pronouncements In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures. This ASU will require entities to provide enhanced disclosures, in a tabular format, related to certain expense categories included in the statement of operations. The ASU aims to increase transparency and provide investors with more detailed information about the nature of expenses reported on the face of the income statement. The new ASU is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on the related disclosures.

NOTE 3: PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets were comprised of the following: SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_49A_20251231_zzfc5b655WIl" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td> </td><td> </td> <td colspan="2" id="xdx_496_20241231_z6fm9YBOIuY5" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td> </td></tr> <tr id="xdx_404_eus-gaap--PrepaidInsurance_iI_maPEAOAz50c_zf7TuLOEvx78" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Prepaid insurance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">390,361</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">506,489</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--PrepaidResearchAndDevelopment_iI_maPEAOAz50c_zHd72dSvUSN4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">392,572</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">150,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherPrepaidExpenseCurrent_iI_maPEAOAz50c_zZ8lvELLkU1d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other prepaid expenses</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,607</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">175,088</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAz50c_zRGCkqChAY3j" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total prepaid expenses and other current assets</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">802,540</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">831,577</td><td style="text-align: left"> </td></tr> </table> Prepaid expenses and other current assets were comprised of the following: SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_49A_20251231_zzfc5b655WIl" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td> </td><td> </td> <td colspan="2" id="xdx_496_20241231_z6fm9YBOIuY5" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td> </td></tr> <tr id="xdx_404_eus-gaap--PrepaidInsurance_iI_maPEAOAz50c_zf7TuLOEvx78" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Prepaid insurance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">390,361</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">506,489</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--PrepaidResearchAndDevelopment_iI_maPEAOAz50c_zHd72dSvUSN4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">392,572</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">150,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherPrepaidExpenseCurrent_iI_maPEAOAz50c_zZ8lvELLkU1d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other prepaid expenses</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,607</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">175,088</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAz50c_zRGCkqChAY3j" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total prepaid expenses and other current assets</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">802,540</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">831,577</td><td style="text-align: left"> </td></tr> </table>

390361

506489

392572 150000

19607

175088

802540

831577

NOTE 4: ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES Accounts payable and other current liabilities were comprised of the following: SCHEDULE OF ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_49A_20251231_zV4aXWmUtXTe" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td> </td><td> </td> <td colspan="2" id="xdx_496_20241231_zVvjSoYHOKEa" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td> </td></tr> <tr id="xdx_40D_eus-gaap--AccountsPayableCurrent_iI_pp0p0_maAPAOAzxRP_zJFQ9agGFQfl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accounts payable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">544,057</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">870,229</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_pp0p0_maAPAOAzxRP_zpr3PZ4y8VNe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued employee costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,025,341</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,371,498</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedProfessionalFeesCurrent_iI_pp0p0_maAPAOAzxRP_zOqInwAnqo9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">322,039</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">72,054</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--AccruedResearchAndDevelopmentCurrent_iI_pp0p0_maAPAOAzxRP_z78ShvKT4fB9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,098,956</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">860,958</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccruedBoardFeesCurrent_iI_pp0p0_maAPAOAzxRP_zcHmdzwHKiXe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued board fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">78,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117,750</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--StateFranchiseTaxesPayableCurrent_iI_pp0p0_maAPAOAzxRP_zjlbef62BPX5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State franchise taxes payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">84,100</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pp0p0_maAPAOAzxRP_zdlhH92j761c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other accrued expenses</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,582</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17,228</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iTI_pp0p0_mtAPAOAzxRP_zLm5X5TWn7kb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total accounts payable and other current liabilities</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,158,575</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,309,717</td><td style="text-align: left"> </td></tr> </table>

Accounts payable and other current liabilities were comprised of the following: SCHEDULE OF ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_49A_20251231_zV4aXWmUtXTe" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td> </td><td> </td> <td colspan="2" id="xdx_496_20241231_zVvjSoYHOKEa" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td> </td></tr> <tr id="xdx_40D_eus-gaap--AccountsPayableCurrent_iI_pp0p0_maAPAOAzxRP_zJFQ9agGFQfl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accounts payable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">544,057</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">870,229</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_pp0p0_maAPAOAzxRP_zpr3PZ4y8VNe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued employee costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,025,341</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,371,498</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedProfessionalFeesCurrent_iI_pp0p0_maAPAOAzxRP_zOqInwAnqo9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">322,039</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">72,054</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--AccruedResearchAndDevelopmentCurrent_iI_pp0p0_maAPAOAzxRP_z78ShvKT4fB9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,098,956</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">860,958</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccruedBoardFeesCurrent_iI_pp0p0_maAPAOAzxRP_zcHmdzwHKiXe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued board fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">78,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117,750</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--StateFranchiseTaxesPayableCurrent_iI_pp0p0_maAPAOAzxRP_zjlbef62BPX5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State franchise taxes payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">84,100</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pp0p0_maAPAOAzxRP_zdlhH92j761c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other accrued expenses</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,582</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17,228</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iTI_pp0p0_mtAPAOAzxRP_zLm5X5TWn7kb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total accounts payable and other current liabilities</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,158,575</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,309,717</td><td style="text-align: left"> </td></tr> </table>

544057

870229

4025341

1371498

322039

72054

1098956 860958 78500 117750 84100

5582

17228

6158575

3309717

NOTE 5: STOCK-BASED COMPENSATION The Company has an equity incentive plan for grants to employees, officers, consultants, directors, and other service providers that was approved in 2021 (the “2021 Plan”). The 2021 Plan provides for the grant of non-qualified stock options, incentive stock options, restricted stock awards, restricted stock units, unrestricted stock awards, stock appreciation rights and other forms of stock-based compensation. The 2021 Plan permits the Company’s board to change the type, terms, and conditions of awards as circumstances may change. This flexibility to adjust the type of compensation to be granted is particularly important given current economic and world events. A summary of the stock option activity during the period ended December 31, 2025, is presented in the table below: SCHEDULE OF STOCK OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Weighted average</td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of options</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Exercise price</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Remaining contractual life (in years)</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Intrinsic value</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%">Outstanding as of January 1, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250101__20251231_zRxiL88OewB4" style="width: 10%; text-align: right" title="Number of options, outstanding balance">103,114</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20250101__20251231_zWFEsAWIqaw8" style="width: 10%; text-align: right" title="Weighted average exercise price, outstanding, balance">225.68</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231_zuiKBfUNG203" title="Weighted average remaining contractual life (in years)">7.6</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp0p0_c20250101__20251231_zgjBi10QvO0g" style="width: 10%; text-align: right" title="Intrinsic value, outstanding balance">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250101__20251231_zbVwtK8a5Pl5" style="text-align: right" title="Number of options, granted">28,301</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20250101__20251231_zvXy4zhSZlVb" style="text-align: right" title="Weighted average exercise price, granted">2.80</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue_pp0p0_c20250101__20251231_zITr1EENEdWl" style="text-align: right" title="Intrinsic value, granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Forfeited and cancelled</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20250101__20251231_zbsrKQMxqek5" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, forfeited and cancelled">(7,508</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20250101__20251231_ze5n4jCf5wm4" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, forfeited and cancelled">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageIntrinsicValue_pp0p0_c20250101__20251231_zDH9wYF6OIe5" style="border-bottom: Black 1pt solid; text-align: right" title="Intrinsic value, forfeited and cancelled">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding as of December 31, 2025</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250101__20251231_z3N7gJ6s1beh" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, outstanding balance">123,907</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250101__20251231_zNFIVilkIt1g" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, outstanding, balance">104.70</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_zT3gnrcKFr2j" title="Weighted average remaining contractual life (in years)">7.3</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pp0p0_c20250101__20251231_zXGzwNPyagxb" style="border-bottom: Black 2.5pt double; text-align: right" title="Intrinsic value, Outstanding, balance">24,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercisable as of December 31, 2025</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20250101__20251231_zsfDQB1QpAoc" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, exercisable">80,373</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20250101__20251231_ztfseljcthij" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, exercisable">153.26</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231_zUvMNZU4NeJb" title="Weighted average remaining contractual life, exercisable">6.2</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pp0p0_c20250101__20251231_zdlwx9jw7EH7" style="border-bottom: Black 2.5pt double; text-align: right" title="Intrinsic value, exercisable balance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Vested and expected to vest as of December 31, 2025</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iE_c20250101__20251231_zYUDVRiAxt4i" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, vested and expected to vest">123,907</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_iE_c20250101__20251231_zpQ6uS1YT77d" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, vested and expected to vest">104.70</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231_zFZbpmOPVudk" title="Weighted average remaining contractual life (in years), vested and expected to vest">7.3</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iE_pp0p0_c20250101__20251231_zB2XW3OEY8qb" style="border-bottom: Black 2.5pt double; text-align: right" title="Intrinsic value, vested and expected to vest balance">24,000</td><td style="text-align: left"> </td></tr> </table> In addition, on December 22, 2025, in connection with the Investment Transaction with David E. Lazar, see Note 6(e), the Company entered into employment modification agreements (the “Modification Agreements”) with its executive officers. Pursuant to the Modification Agreements, the executive officers agreed to reduce the notice period for termination for any reason to 10 days and waive the severance benefits under their original employment agreements in exchange for a combination of an equity settlement payment in lieu of cash payable in <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensation_c20251222__20251222__us-gaap--TypeOfArrangementAxis__custom--ModificationAgreementsMember_zxtIX9vvowY9" title="Cash payable, shares">350,000 shares of common stock, based on $2.03 per share, and a cash payment of approximately $<span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValueShareBasedCompensation_pn4n6_c20251222__20251222__us-gaap--TypeOfArrangementAxis__custom--ModificationAgreementsMember_zVOO0GMDV977" title="Cash payable, value">3.50 million. The following table summarizes the total stock-based compensation expense included in the consolidated statements of operations for the periods presented: SCHEDULE OF STOCK BASED COMPENSATION EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_496_20250101__20251231_zKJQ64Mv5ww7" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="2" id="xdx_494_20240101__20241231_zgLHk4psFHsk" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the year ended December 31,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td> </td></tr> <tr id="xdx_408_eus-gaap--ShareBasedCompensation_hcustom--StatementOfIncomeLocationBalanceAxis__custom--ResearchAndDevelopmentMember_zJo5AZMt43T" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">287,675</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">624,480</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ShareBasedCompensation_hcustom--StatementOfIncomeLocationBalanceAxis__custom--GeneralAndAdministrativeMember_zyna5IxdhRKk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,070,407</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,681,369</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ShareBasedCompensation_z9Z5SvXxAzJ5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total stock-based compensation expense</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,358,082</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,305,849</td><td style="text-align: left"> </td></tr> </table> As of December 31, 2025, total compensation cost not yet recognized related to unvested stock options was approximately $0.26 million, which is expected to be recognized over a weighted-average period of approximately <span id="xdx_901_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20250101__20251231_zXqD8Z58zDZ1" title="Share-based compensation, not yet recognized, term">1.2 years. The Company estimates the fair value of stock options on the date of grant using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires estimates of highly subjective assumptions, which affect the fair value of each stock option. The weighted average inputs used to measure the value of the options granted during the years ended December 31, 2025 and 2024 are presented in the table below. The weighted average fair value of stock options issued during the years ended December 31, 2025 and 2024 was $<span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250101__20251231_zyOFrm1W1SXc" title="Weighted average fair value of stock options issued">6.72 and $<span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20241231_zldOslSwmyrc" title="Weighted average fair value of stock options issued">36.68 per share, respectively. <p id="xdx_894_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_z96iYjkqEjAi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> SCHEDULE OF WEIGHTED AVERAGE INPUTS USED TO MEASURE VALUE OF OPTIONS GRANTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Exercise price</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_c20251231_zxrdHzp1ibM7" style="width: 16%; text-align: right" title="Exercise price">7.69</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_c20241231_z1pqdFNjCcqc" style="width: 16%; text-align: right" title="Exercise price">43.12</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.6</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.8</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114.78</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.0</td><td style="text-align: left">%</td></tr> </table> <p id="xdx_89D_eus-gaap--ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_z096fHhbtQf5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following table presents the exercise price of outstanding stock options as of December 31, 2025: SCHEDULE OF EXERCISE PRICE OF OUTSTANDING STOCK OPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">Exercise price</td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Options outstanding</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>$0.01 - $80.00</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_zChghBjbARK3" style="text-align: right" title="Options outstanding">75,288</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEVYRVJDSVNFIFBSSUNFIE9GIE9VVFNUQU5ESU5HIFNUT0NLIE9QVElPTlMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_c20250101__20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_z4pM7b2eWEFe" title="Exercise price range lower range limit">0.01 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEVYRVJDSVNFIFBSSUNFIE9GIE9VVFNUQU5ESU5HIFNUT0NLIE9QVElPTlMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_c20250101__20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_zzCUL84JZQYi" title="Exercise price range upper range limit">80.00</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_zEa5aIKgduhi" style="width: 16%; text-align: right" title="Options outstanding">75,288</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEVYRVJDSVNFIFBSSUNFIE9GIE9VVFNUQU5ESU5HIFNUT0NLIE9QVElPTlMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_c20250101__20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeTwoMember_zzxlJ5frGJfk" title="Exercise price range lower range limit">80.01 or higher</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeTwoMember_zdYoXJH3zDTj" style="border-bottom: Black 1pt solid; text-align: right" title="Options outstanding">48,619</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231_z8PaJa8pmrJ9" style="border-bottom: Black 2.5pt double; text-align: right" title="Options outstanding">123,907</td><td style="text-align: left"> </td></tr> </table>

A summary of the stock option activity during the period ended December 31, 2025, is presented in the table below: SCHEDULE OF STOCK OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Weighted average</td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of options</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Exercise price</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Remaining contractual life (in years)</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Intrinsic value</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%">Outstanding as of January 1, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250101__20251231_zRxiL88OewB4" style="width: 10%; text-align: right" title="Number of options, outstanding balance">103,114</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20250101__20251231_zWFEsAWIqaw8" style="width: 10%; text-align: right" title="Weighted average exercise price, outstanding, balance">225.68</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231_zuiKBfUNG203" title="Weighted average remaining contractual life (in years)">7.6</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp0p0_c20250101__20251231_zgjBi10QvO0g" style="width: 10%; text-align: right" title="Intrinsic value, outstanding balance">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250101__20251231_zbVwtK8a5Pl5" style="text-align: right" title="Number of options, granted">28,301</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20250101__20251231_zvXy4zhSZlVb" style="text-align: right" title="Weighted average exercise price, granted">2.80</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue_pp0p0_c20250101__20251231_zITr1EENEdWl" style="text-align: right" title="Intrinsic value, granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Forfeited and cancelled</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20250101__20251231_zbsrKQMxqek5" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, forfeited and cancelled">(7,508</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20250101__20251231_ze5n4jCf5wm4" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, forfeited and cancelled">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageIntrinsicValue_pp0p0_c20250101__20251231_zDH9wYF6OIe5" style="border-bottom: Black 1pt solid; text-align: right" title="Intrinsic value, forfeited and cancelled">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding as of December 31, 2025</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250101__20251231_z3N7gJ6s1beh" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, outstanding balance">123,907</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250101__20251231_zNFIVilkIt1g" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, outstanding, balance">104.70</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_zT3gnrcKFr2j" title="Weighted average remaining contractual life (in years)">7.3</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pp0p0_c20250101__20251231_zXGzwNPyagxb" style="border-bottom: Black 2.5pt double; text-align: right" title="Intrinsic value, Outstanding, balance">24,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercisable as of December 31, 2025</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20250101__20251231_zsfDQB1QpAoc" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, exercisable">80,373</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20250101__20251231_ztfseljcthij" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, exercisable">153.26</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231_zUvMNZU4NeJb" title="Weighted average remaining contractual life, exercisable">6.2</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pp0p0_c20250101__20251231_zdlwx9jw7EH7" style="border-bottom: Black 2.5pt double; text-align: right" title="Intrinsic value, exercisable balance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Vested and expected to vest as of December 31, 2025</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iE_c20250101__20251231_zYUDVRiAxt4i" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, vested and expected to vest">123,907</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_iE_c20250101__20251231_zpQ6uS1YT77d" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, vested and expected to vest">104.70</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231_zFZbpmOPVudk" title="Weighted average remaining contractual life (in years), vested and expected to vest">7.3</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iE_pp0p0_c20250101__20251231_zB2XW3OEY8qb" style="border-bottom: Black 2.5pt double; text-align: right" title="Intrinsic value, vested and expected to vest balance">24,000</td><td style="text-align: left"> </td></tr> </table>

103114

225.68

P7Y7M6D

28301

2.80

7508

123907

104.70

P7Y3M18D

24000

80373

153.26

P6Y2M12D

123907

104.70

P7Y3M18D

24000

350000

2.03

3500000

The following table summarizes the total stock-based compensation expense included in the consolidated statements of operations for the periods presented: SCHEDULE OF STOCK BASED COMPENSATION EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_496_20250101__20251231_zKJQ64Mv5ww7" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="2" id="xdx_494_20240101__20241231_zgLHk4psFHsk" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the year ended December 31,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td> </td></tr> <tr id="xdx_408_eus-gaap--ShareBasedCompensation_hcustom--StatementOfIncomeLocationBalanceAxis__custom--ResearchAndDevelopmentMember_zJo5AZMt43T" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">287,675</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">624,480</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ShareBasedCompensation_hcustom--StatementOfIncomeLocationBalanceAxis__custom--GeneralAndAdministrativeMember_zyna5IxdhRKk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,070,407</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,681,369</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ShareBasedCompensation_z9Z5SvXxAzJ5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total stock-based compensation expense</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,358,082</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,305,849</td><td style="text-align: left"> </td></tr> </table>

287675

624480

1070407

1681369

1358082

2305849

260000

P1Y2M12D

6.72

36.68

<p id="xdx_894_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_z96iYjkqEjAi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> SCHEDULE OF WEIGHTED AVERAGE INPUTS USED TO MEASURE VALUE OF OPTIONS GRANTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Exercise price</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_c20251231_zxrdHzp1ibM7" style="width: 16%; text-align: right" title="Exercise price">7.69</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_c20241231_z1pqdFNjCcqc" style="width: 16%; text-align: right" title="Exercise price">43.12</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.6</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.8</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114.78</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.0</td><td style="text-align: left">%</td></tr> </table>

7.69

43.12

P5Y7M6D

P5Y9M18D

1.249

1.1478

0.040

0.000

<p id="xdx_89D_eus-gaap--ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_z096fHhbtQf5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following table presents the exercise price of outstanding stock options as of December 31, 2025: SCHEDULE OF EXERCISE PRICE OF OUTSTANDING STOCK OPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">Exercise price</td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Options outstanding</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>$0.01 - $80.00</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_zChghBjbARK3" style="text-align: right" title="Options outstanding">75,288</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEVYRVJDSVNFIFBSSUNFIE9GIE9VVFNUQU5ESU5HIFNUT0NLIE9QVElPTlMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_c20250101__20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_z4pM7b2eWEFe" title="Exercise price range lower range limit">0.01 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEVYRVJDSVNFIFBSSUNFIE9GIE9VVFNUQU5ESU5HIFNUT0NLIE9QVElPTlMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_c20250101__20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_zzCUL84JZQYi" title="Exercise price range upper range limit">80.00</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_zEa5aIKgduhi" style="width: 16%; text-align: right" title="Options outstanding">75,288</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">$<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEVYRVJDSVNFIFBSSUNFIE9GIE9VVFNUQU5ESU5HIFNUT0NLIE9QVElPTlMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_c20250101__20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeTwoMember_zzxlJ5frGJfk" title="Exercise price range lower range limit">80.01 or higher</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeTwoMember_zdYoXJH3zDTj" style="border-bottom: Black 1pt solid; text-align: right" title="Options outstanding">48,619</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20251231_z8PaJa8pmrJ9" style="border-bottom: Black 2.5pt double; text-align: right" title="Options outstanding">123,907</td><td style="text-align: left"> </td></tr> </table>

75288

0.01

80.00

75288

80.01

48619

123907

NOTE 6: CAPITALIZATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">a.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of December 31, 2025 and December 31, 2024, the Company had 200,000,000 shares of common stock authorized and 2,167,324 and 428,799 shares issued and outstanding, respectively. As of December 31, 2025 and December 31, 2024, the Company had 5,000,000 shares of preferred stock authorized and 300,000 shares of Series AA Preferred Stock and 700,000 shares of Series AAA Preferred Stock issued and outstanding as of December 31, 2025. There were no shares of preferred stock issued or outstanding as of December 31, 2024. As of December 31, 2025 and December 31, 2024, there were warrants outstanding to purchase an aggregate of 1,788,729 and 238,423 shares of common stock, respectively. As of December 31, 2025, these warrants were exercisable at a weighted average price of $<span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iI_pid_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zri5vd93Ar57">28.72 and their weighted average remaining contractual term was <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zD2RqjitDKMi">4.3 years. On February 11, 2026, the Company reduced the exercise of warrants to purchase an aggregate of <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260211__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zTS2208XMXqk">1,676,425 shares of the Company’s common stock that were issued in financing transactions during 2024 and 2025 to $<span id="xdx_907_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20260211__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zsjRS8f4RhYj">1.75 per share. For more details see Note 11. Following this adjustment, the total outstanding warrants at <span id="xdx_907_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20260211__20260211__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zf6ewG8FDhL9">December 31, 2025 are exercisable at a weighted average price of $<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iI_pid_c20260211__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zQNj29TDCxLi">19.57.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">b.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On January 16, 2025, the Company completed a private placement offering pursuant to which the Company sold and issued to certain investors an aggregate of 75,335 shares of common stock and warrants to purchase <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20250116__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--StatementEquityComponentsAxis__custom--JanuaryTwoThousandTwentyFiveWarrantsMember_zHkjYAVHFC27" title="Warrants purchase shares">75,335 shares of common stock (the “January 2025 Warrants”). The shares and January 2025 Warrants were sold on a combined basis for consideration of $<span id="xdx_904_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20250116__us-gaap--StatementEquityComponentsAxis__custom--JanuaryTwoThousandTwentyFiveWarrantsMember_zVxyUjhzym62" title="Shares issued, price per share">29.82 for one share and one January 2025 Warrant. The January 2025 Warrants are immediately exercisable at an exercise price of $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250116__us-gaap--StatementEquityComponentsAxis__custom--JanuaryTwoThousandTwentyFiveWarrantsMember_zkSTpsxax1H4" title="Class of warrant or right, exercise price of warrants or rights">26.32 per share and expire <span id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20250116__us-gaap--StatementEquityComponentsAxis__custom--JanuaryTwoThousandTwentyFiveWarrantsMember_zZYBvHAme0h6" title="Warrants and rights outstanding, term">five years from the date of issuance. The total net proceeds were approximately $2.0 million, after deducting placement agent and other offering expenses in the amount of approximately $0.25 million. In February 2025, the Company filed a registration statement to register the resale by the investors of the shares of common stock and shares of common stock issuable upon exercise of the January 2025 Warrants. The registration statement was declared effective on February 11, 2025. In addition, in connection with the January 2025 Offering, the Company issued to the placement agent and its designees warrants to purchase an aggregate of <span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250116__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_za1XGue86f9d" title="Warrants to purchase aggregate shares">5,268 shares of common stock at an exercise price of $<span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250116__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zkIcdkQ9Znx5" title="Warrants exercise price">32.90. The placement agent warrants are exercisable six months from the date of issuance and expire on the fifth anniversary of the issue date. The fair value of a warrant to purchase one share of common stock that was issued to the placement agent was $20.72. On February 11, 2026, the Company reduced the exercise price of the January 2025 Warrants and the placement agent warrants to $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260211__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementEquityComponentsAxis__custom--JanuaryTwoThousandTwentyFiveWarrantsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zgxE6gzJlve5" title="Warrants exercise price">1.75 per share. For more details see Note 11. </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">c.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On February 12, 2025, the Company entered into the SEPA with Yorkville, which provides that, upon the terms and subject to the restrictions and satisfaction of the conditions in the SEPA, Yorkville is committed to purchase up to an aggregate of $<span id="xdx_901_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20250212__20250212__dei--LegalEntityAxis__custom--YorkvilleMember__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementsMember_zHLF0QS5DlYd" title="Aggregate value">20.0 million of the Company’s shares of common stock over a 36-month period. At the Company’s option, the shares of common stock would be purchased by Yorkville from time to time at a price equal to 97% of the lowest of the three daily VWAPs during a three consecutive trading day period commencing on the date that the Company, subject to certain limitations, delivers a notice to Yorkville that the Company is committing Yorkville to purchase such shares of common stock. The Company may also specify a certain minimum acceptable price per share in each advance. The Company will control the timing and amount of sales of the Company’s shares to Yorkville. As consideration for Yorkville’s irrevocable commitment to purchase shares of the Company’s common stock upon the terms of and subject to restrictions and satisfaction of the conditions set forth in the SEPA, upon execution of the SEPA, the Company issued to Yorkville <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250212__20250212__dei--LegalEntityAxis__custom--YorkvilleMember__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zfoK6nzXCgTd" title="Shares issued">10,927 shares of common stock as commitment shares. Under the applicable Nasdaq Rules and pursuant to the SEPA, in no event may the Company issue or sell to Yorkville more than <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250212__20250212__us-gaap--TypeOfArrangementAxis__custom--ExchangeCapMember__dei--LegalEntityAxis__custom--YorkvilleMember_zTLNlEI9iNm3" title="Shares issued">100,830 shares of common stock (the “Exchange Cap”), which is 19.99% of the shares of common stock outstanding immediately prior to the execution of the SEPA, unless (i) the Company obtains stockholder approval to issue shares of common stock in excess of the Exchange Cap, or (ii) the average price of all applicable sales of common stock under the SEPA equals or exceeds $<span id="xdx_904_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20250212__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementsMember__dei--LegalEntityAxis__custom--YorkvilleMember_zT1B2My2STEf" title="Shares issued, price per share">22.882 per share (which represents the lower of (i) the Nasdaq Official Closing Price (as reflected on Nasdaq.com) on the trading day immediately preceding the effective date or (ii) the average Nasdaq Official Closing Price of the common stock (as reflected on Nasdaq.com) for the five trading days immediately preceding the effective date). On February 12, 2025, the Company filed a Form S-1 covering the resale of up to <span id="xdx_90D_ecustom--NumberOfResaleCommonStockComprised_pid_c20250212__20250212__dei--LegalEntityAxis__custom--YorkvilleMember__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementsMember_zQh79UqpIx17" title="Number of resale common stock comprised">357,142 shares of common stock comprised of (i) <span id="xdx_904_ecustom--NumberOfCommitmentShares_pid_c20250212__20250212__dei--LegalEntityAxis__custom--YorkvilleMember__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementsMember_zKxKg5wMXb2h" title="Number of commitment shares">10,927 commitment shares, and (ii) up to <span id="xdx_909_ecustom--NumberOfCommitmentSharesToBeIssuedUponCertainConditions_pid_c20250212__20250212__dei--LegalEntityAxis__custom--YorkvilleMember__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementsMember__srt--RangeAxis__srt--MaximumMember_zJeR1x8NkI23" title="Number of commitment shares to be issued upon certain conditions">346,215 shares of common stock reserved for issuance and sale to Yorkville under the SEPA. The Form S-1 was declared effective on February 13, 2025. During 2025, the Company sold and issued <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementsMember__dei--LegalEntityAxis__custom--YorkvilleMember_zccD0eWoCF91" title="Shares issued">89,902 shares of common stock under the SEPA for aggregate net proceeds of approximately $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn4n6_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementsMember__dei--LegalEntityAxis__custom--YorkvilleMember_zXBXMA6Mpjzh" title="Net proceeds">1.74 million, after deducting offering expenses in the amount of approximately $<span id="xdx_904_eus-gaap--DeferredOfferingCosts_iI_pn5n6_c20251231__us-gaap--TypeOfArrangementAxis__custom--StandbyEquityPurchaseAgreementsMember__dei--LegalEntityAxis__custom--YorkvilleMember_zRuWqdVGCDCi" title="Deferred offering costs">0.1 million. Effective March 11, 2026, the Company terminated the SEPA with Yorkville, and the SEPA is no longer in effect.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">d. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On June 1, 2022, the Company entered into an ATM Agreement which was amended on September 1, 2022 with a sales agent, pursuant to which the Company may offer and sell, from time to time through the sales agent, shares of the Company’s common stock. The issuance and sale of common stock by the Company under the ATM Agreement is being made pursuant to the Company’s effective “shelf” registration statement on Form S-3 filed with the SEC on August 13, 2025 and declared effective on August 20, 2025. During 2025 the Company sold <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--PlanNameAxis__custom--AtTheMarketOfferingAgreementMember_zMRNSpRnccj5">520,000 shares of the Company’s common stock for aggregate net proceeds of approximately $2.25 million, after deducting issuance expenses in the amount of approximately $0.1 million. The Company’s ability to issue shares under the shelf registration statement on Form S-3 is limited by General Instruction I.B.6 to Form S-3.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">e. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On December 22, 2025, the Company entered the Purchase Agreement with David E. Lazar pursuant to which the Company agreed to issue and sell an aggregate of <span id="xdx_908_eus-gaap--SharesIssued_iI_pid_c20251222__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember_zQbimjOoivU" title="Shares issued">1,000,000 shares of convertible preferred stock, consisting of (i) <span id="xdx_90E_eus-gaap--SharesIssued_iI_pid_c20251222__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAAConvertiblePreferredStockMember_znPFKM985kIj" title="Shares issued">300,000 shares of Series AA Convertible Preferred Stock and (ii) <span id="xdx_903_eus-gaap--SharesIssued_iI_pid_c20251222__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAAAConvertiblePreferredStockMember_zwb8zUuzeK6h" title="Shares issued">700,000 shares of Series AAA Convertible Preferred Stock, at a purchase price of $<span id="xdx_904_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20251222__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAAConvertiblePreferredStockMember_zmz89nd41WOf" title="Shares issued, price per share">6.00 per share for gross proceeds of $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_pn5n6_c20251222__20251222__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAAConvertiblePreferredStockMember_zWQjj9SZIaU3" title="Proceeds from issuance of preferred stock">6.0 million. The transaction closed on December 23, 2025. Each share of Series AA Preferred Stock is convertible, subject to stockholder approval, into <span id="xdx_906_eus-gaap--SharesIssued_iI_c20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAAConvertiblePreferredStockMember_zwGKGq9lP12g" title="Shares issued">20 shares of the Company’s common stock, par value $<span id="xdx_903_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAAConvertiblePreferredStockMember_zYNZEnLPa0Sk" title="Shares issued, price per share">0.01 per share. Each share of Series AAA Preferred Stock is convertible into <span id="xdx_903_eus-gaap--SharesIssued_iI_c20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAAAConvertiblePreferredStockMember_zocYVmCwnFMi" title="Shares issued">150 shares of Common Stock. Upon full conversion, the Preferred Stock would convert into an aggregate of <span id="xdx_905_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_iI_c20251223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAAAConvertiblePreferredStockMember_zMykqJdaRPLd" title="Preferred stock convert shares">111,000,000 shares of Common Stock. Conversion of the Preferred Stock was subject to compliance with Nasdaq Listing Rule 5635, which requires stockholder approval for issuances of Common Stock in excess of 19.99% of the Company’s outstanding shares. Accordingly, the Company agreed to seek stockholder approval for the issuance of the full number of shares of common stock underlying the Preferred Stock. Conversion approval was obtained subsequent to December 31, 2025, on February 26, 2026. See additional discussion in Note 11. The Company determined that the Preferred Stock was not within the scope of ASC 480 as it did not contain any embedded derivatives required to be bifurcated from the Preferred Stock therefore these instruments were equity classified within permanent equity.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">f.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On December 23, 2025, the Company filed a Series AA Certificate of Designation and Series AAA Certificate of Designation with the Secretary of State of Delaware designating the rights, preferences and limitations of each of the shares of the Series AA Preferred Stock and the Series AAA Preferred Stock (collectively, the “Preferred Stock”), respectively.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Following stockholder approval, each share of Series AA Preferred Stock is convertible into <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20250323__20250323__us-gaap--StatementClassOfStockAxis__custom--SeriesAAConvertiblePreferredStockMember_zSe1XQ0m3ff5" title="Convertible into common stock, shares">20 shares of the Company’s Common Stock, and each share of Series AAA Preferred Stock is convertible into <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20250323__20250323__us-gaap--StatementClassOfStockAxis__custom--SeriesAAAConvertiblePreferredStockMember_zXJpJT28UaK9" title="Convertible into common stock, shares">150 shares of Common Stock. The Preferred Stock shall rank: </td></tr> </table> <table cellpadding="0" cellspacing="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">senior to all of the common stock;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">senior to any class or series of capital stock of the Company hereafter created specifically ranking by its terms junior to the Preferred Stock (“Junior Securities”); and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">on parity with each other (i.e. Series AA Preferred Stock shall rank pari passu with Series AAA Preferred Stock)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> in each case, as to distributions of assets upon liquidation, dissolution or winding up of the Company, whether voluntarily or involuntarily (each, a “Dissolution”). </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">In the event of a Dissolution, holders of the Preferred Stock will be entitled to receive, before any distributions to the holders of the Common Stock and the holders of junior securities, an amount per share of Preferred Stock equal to the greater of (i) $6.00 (subject to adjustment in the event of any stock split, combination or reclassification), plus any dividends declared but unpaid thereon, or (ii) such amount per share as would have been payable had all shares of the Preferred Stock been converted into common stock (without regard to any restrictions on conversion) immediately prior to such Dissolution. Shares of Preferred Stock will be entitled to receive dividends equal to (on an as-if-converted-to-common stock basis), and in the same form and manner as, dividends actually paid on shares of common stock. For the avoidance of any doubt, neither a change in control of the Company, the merger or consolidation of the Company with or into any other entity, nor the sale, lease, exchange or other disposition of all or substantially all of the Company’s assets shall, in and of itself, be deemed to constitute a Dissolution. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Shares of Preferred Stock will generally have no voting rights, except to the extent provided by applicable law, and except that the consent of the holders of a majority of the outstanding shares of the Preferred Stock will be required to (i) alter, repeal or change the powers, preferences or rights of the Preferred Stock or alter or amend the Certificate of Designations so as to adversely affect the Preferred Stock, (ii) supplement, amend, restate, repeal, or waive any provision of the Company’s amended and restated certificate of incorporation or bylaws, or file any certificate of amendment, certificate of designation, preferences, limitations and relative rights of any series of preferred stock, if such action would adversely alter or change the preferences, rights, privileges or powers of, or restrictions provided for the benefit of the Preferred Stock, regardless of whether any of the foregoing actions shall be by means of amendment to the Company’s amended and restated certificate of incorporation or by merger, consolidation, recapitalization, reclassification, conversion or otherwise, (iii) increase or decrease (other than by conversion) the number of authorized shares of the Preferred Stock; or (iv) enter into any agreement with respect to any of the foregoing. </td></tr> </table>

200000000

2167324

428799

5000000

300000

700000

1788729

238423

28.72

P4Y3M18D

1676425

1.75

2025-12-31

19.57

75335

29.82

26.32

P5Y

2000000.0

250000

5268

32.90

20.72

1.75

20000000.0

10927

100830

0.1999

22.882

357142 10927 346215

89902

1740000

100000

520000

2250000

100000

1000000

300000

700000

6.00

6000000.0

0.01

150

111000000

150

NOTE 7: CONVERTIBLE PROMISSORY NOTES In June 2025, the Company entered into securities purchase agreements with certain investors, including the chief executive officer of the Company, for the offering in a private placement of convertible promissory notes (the “Notes”) in the aggregate principal amount of approximately $5.7 million and warrants to purchase shares of common stock. The Notes bore interest at the rate of 6% per year and matured on July 28, 2026. The Notes were convertible, together with accrued interest, into shares of the Company’s common stock on the date which was the earlier of (i) the date that is 30 days from the effectiveness of a reverse split effected by the Company on Nasdaq (i.e. July 27, 2025), and (ii) the one-year anniversary from the issuance of the Notes. On July 27, 2025, the Notes automatically converted into an aggregate of 501,566 shares of the Company’s common stock at a conversion price of $8.3024 per share, which represented 80% of the average Nasdaq closing price of the Company’s common stock for the five trading days immediately preceding and including the conversion date, subject to a maximum conversion price of $11.20 per share. In addition, for investors whose conversions would have exceeded ownership limits of 4.99% or 9.99%, the Company issued pre-funded warrants to purchase an aggregate of <span id="xdx_903_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20250727__us-gaap--StatementEquityComponentsAxis__custom--PrefundedWarrantsMember_ztlRZdUEylgi" title="Warrants to purchase common stock">190,795 shares of common stock which represent the portion that would otherwise exceed the applicable threshold. The pre-funded warrants have substantially the same terms as the July 2025 Warrants (as defined below), except they are exercisable at $0.01 per share and do not have an expiration date. As of December 31, 2025, pre-funded warrants to purchase an aggregate of 190,795 shares of common stock had been exercised. In connection with the automatic conversion of the Notes, the Company also issued to investors in the offering warrants to purchase an aggregate of <span id="xdx_907_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20250727__us-gaap--StatementEquityComponentsAxis__custom--JulyTwoThousandTwentyFiveWarrantsMember_zuGZc3fzAFfa" title="Warrants to purchase shares">1,384,722 shares of common stock (the “July 2025 Warrants”). The July 2025 Warrants are exercisable at a price of $<span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250727__us-gaap--StatementEquityComponentsAxis__custom--JulyTwoThousandTwentyFiveWarrantsMember_zdVgmTnnOju4" title="Warrant exercisable price per share">8.3024 per share and have a term of <span id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20250727__us-gaap--StatementEquityComponentsAxis__custom--JulyTwoThousandTwentyFiveWarrantsMember_z3Gos5NsW66a" title="Warrants and rights outstanding, term">five years, expiring on <span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20250727__us-gaap--StatementEquityComponentsAxis__custom--JulyTwoThousandTwentyFiveWarrantsMember_zgktPjIZt2nc" title="Expiring date">July 27, 2030. On February 11, 2026, the Company reduced the exercise price of the July 2025 Warrants to $<span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260211__us-gaap--StatementEquityComponentsAxis__custom--JulyTwoThousandTwentyFiveWarrantsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zAlhcxRuxiy" title="Warrants exercise price">1.75 per share. For more details see Note 11. The Company made an irrevocable election to measure the Notes at fair value as it believes the fair value option provides a greater ability to estimate the outcome of future events as facts and circumstances change, particularly with respect to changes in the fair value of the common stock. Accordingly, the Company recognized an increase in the fair value of the Notes of approximately $1.15 million during 2025. On July 27, 2025, the Company determined the fair value of the Notes immediately prior to their conversion, based on the closing share price on that date and the number of shares to be issued. Upon conversion, the Company reclassified the fair value of the Notes, approximately $6.8 million, net of approximately $9,000 for issuance cost, from current liabilities to shareholders’ equity. Placement agent fees and other offering-related expenses totaling approximately $<span id="xdx_909_eus-gaap--OtherExpenses_pn5n6_c20250601__20250630__custom--StatementOfIncomeLocationBalanceAxis__custom--GeneralAndAdministrativeMember_zHQuAOvkESme" title="Other offering-related expenses">0.8 million were recognized as general and administrative expenses in the statement of operations. In addition, the Company issued to the placement agent and its designees warrants to purchase an aggregate of <span id="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20250727__us-gaap--StatementEquityComponentsAxis__custom--PlacementAgentWarrantsMember_zZXag1R5cPNi" title="Warrants to purchase shares">83,083 shares of common stock at an exercise price of $<span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250727__us-gaap--StatementEquityComponentsAxis__custom--PlacementAgentWarrantsMember_zRjoBGN5iXP7" title="Warrants exercise price">8.3024. The placement agent warrants have substantially the same terms as the July 2025 Warrants, except they include a cashless exercise feature and expire on the fifth anniversary of the issuance date. The fair value of each July 2025 Warrant and each placement agent warrant was $8.73. On February 11, 2026, the Company reduced the exercise price of the placement agent warrants to $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260211__us-gaap--StatementEquityComponentsAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zmWPAx5STuYe" title="Warrants exercise price">1.75 per share. For more details see Note 11.

5700000

0.06

2026-07-28

501566

8.3024

0.80

11.20

0.0499

0.0999

190795

0.01

190795

1384722

8.3024

P5Y

2030-07-27

1.75

1150000

6800000

9000

800000

83083

8.3024

8.73

1.75

NOTE 8: COMMITMENTS AND CONTINGENCIES Litigation From time to time, the Company could become involved in disputes and various litigation matters that arise in the normal course of business. These may include disputes and lawsuits related to intellectual property, licensing, contract law and employee relations matters. Periodically, the Company reviews the status of significant matters, if any exist, and assesses its potential financial exposure. If the potential loss from any claim or legal claim is considered probable and the amount of such potential loss can be estimated, the Company accrues liability for the estimated loss. Legal proceedings are subject to uncertainties and the outcomes are difficult to predict. Because of such uncertainties, accruals are based on the best information available at the time. As additional information becomes available, the Company reassesses the potential liability related to pending claims and litigation.

NOTE 9: INCOME TAXES As of December 31, 2025, the Company had net operating loss carry forwards that may be available to reduce future years’ taxable income. Income before provision for income taxes consisted of the following: SCHEDULE OF INCOME BEFORE PROVISION FOR INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"><td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250101__20251231_zB0E0WwSyYF8" style="border-bottom: Black 1pt solid; display: none; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240101__20241231_zShBBSd9qWNi" style="border-bottom: Black 1pt solid; display: none; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_maILFCOzG3u_zHjKpgluNQWd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">U.S.</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(21,447,994</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(15,577,092</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_maILFCOzG3u_zy3RQqTWa7Ha" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">600,800</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">556,663</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_mtILFCOzG3u_zLQDarAjLk4j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total income before provision for income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(20,847,194</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(15,020,429</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> The provision for income taxes on earnings from continuing operations consisted of the following: SCHEDULE OF INCOME TAX PROVISION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20251231_z5zuihLIQDX5" style="border-bottom: Black 1pt solid; display: none; text-align: center">2025</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240101__20241231_zea7cRy6fTJd" style="border-bottom: Black 1pt solid; display: none; text-align: center">2024</td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the year ended December 31,</td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr id="xdx_408_eus-gaap--CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract_iB_zzIwp6dfxlVh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 64%">Current:</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CurrentFederalTaxExpenseBenefit_zB9JSMXmSPXl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Federal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_maCITEBzr1H_z9c5vD9kOQ63" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">State</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,716</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,700</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--CurrentForeignTaxExpenseBenefit_maCITEBzr1H_z8sr1ZIqA57" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CurrentIncomeTaxExpenseBenefit_mtCITEBzr1H_zE6bHSjEyha6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total Current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,716</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,700</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_iB_zGDkqBz3RLr5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_maDFSALzlXT_zVI4M4S5S6G1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Federal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_maDFSALzlXT_z9Tsm7ceuD0f" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">State</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_maDFSALzlXT_zTIwXveP9F77" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredFederalStateAndLocalTaxExpenseBenefit_iT_pn3n3_mtDFSALzlXT_maITEBzWGq_maDITEBzIlw_zvGkekSW8Of7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total Deferred</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxExpenseBenefit_z1ncF4lubD97" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Income tax expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,716</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The reconciliation of federal statutory income tax rate to our effective tax rate after the adoption of ASU 2023-09 is as follows: SCHEDULE OF EFFECTIVE TAX RATE AND STATUTORY TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the year ended December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">U.S. Federal Statutory Tax Rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_madgfsryh_c20250101__20251231_z1Y72DbiZ5Z1" style="width: 14%; text-align: right" title="U.S. federal statutory tax rate, amount">(4,374,816</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_madfxgd_c20250101__20251231_zEyfenxysphj" style="width: 14%; text-align: right" title="U.S. federal statutory tax rate, percent">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State and Local Income Taxes, Net of Federal Income Tax Effect*</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_madgfsryh_c20250101__20251231_fKg_____zJbkQu2u2Kyk" style="text-align: right" title="U.S. federal statutory tax rate, amount">1,356</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_madfxgd_c20250101__20251231_fKg_____zdFIOzAMumQj" style="text-align: right" title="U.S. federal statutory tax rate, percent">0.0</td><td style="text-align: left">%</td></tr> <tr id="xdx_406_ecustom--IncomeTaxReconciliationPermanentDifferences_madgfsryh_z54CBSjLE2ce" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Permanent differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, amount"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, percent"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--EffectiveIncomeTaxRateReconciliationPermanentDifferences_pid_dp_uPure_madfxgd_zGnQq5uY0gR7" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Permanent differences,Percent</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, amount"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, percent"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign Tax Effects</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--IncomeTaxReconciliationForeignIncomeTaxRateDifferential_madgfsryh_c20250101__20251231_z8F3GR0M8uZg" style="text-align: right" title="U.S. federal statutory tax rate, amount">(126,168</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_dp_madfxgd_c20250101__20251231_z8uzZNIAJqub" style="text-align: right" title="U.S. federal statutory tax rate, percent">0.6</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Changes in Valuation Allowances</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_madgfsryh_c20250101__20251231_zBMeMlpMMlkb" style="text-align: right" title="U.S. federal statutory tax rate, amount">4,077,647</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_madfxgd_c20250101__20251231_zbM4ckhrVuJj" style="text-align: right" title="U.S. federal statutory tax rate, percent">(19.6</td><td style="text-align: left">)%</td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost_madgfsryh_zYbgM1nF08C3" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, amount"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, percent"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost_pid_dp_uPure_madfxgd_zwZcOEOZtgT1" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock-based compensation, percent</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, amount"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, percent"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Nontaxable or Nondeductible items:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, amount"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, percent"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Change in fair value of convertible notes</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--IncomeTaxReconciliationChangeInFairValueOfConvertibleNotes_madgfsryh_c20250101__20251231_zArr6mFYPYG1" style="text-align: right" title="U.S. federal statutory tax rate, amount">242,218</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--EffectiveIncomeTaxRateReconciliationChangeInFairValueOfConvertibleNotes_pid_dp_uPure_madfxgd_c20250101__20251231_zj3R1dzZclRb" style="text-align: right" title="U.S. federal statutory tax rate, percent">(1.2</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Other</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseOther_madgfsryh_c20250101__20251231_zyuSGMdWEno1" style="text-align: right" title="U.S. federal statutory tax rate, amount">385,207</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_pid_dp_uPure_madfxgd_c20250101__20251231_zvF7Os4nrCHg" style="text-align: right" title="U.S. federal statutory tax rate, percent">(1.8</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other Adjustments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--IncomeTaxReconciliationOtherAdjustments_madgfsryh_c20250101__20251231_zHHdWExep641" style="border-bottom: Black 1pt solid; text-align: right" title="U.S. federal statutory tax rate, amount">(203,728</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_madfxgd_c20250101__20251231_z6kSV58T51oe" style="border-bottom: Black 1pt solid; text-align: right" title="U.S. federal statutory tax rate, percent">1.0</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Effective Tax Rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--IncomeTaxExpenseBenefit_iT_mtdgfsryh_c20250101__20251231_zrcqgis4OGJ3" style="border-bottom: Black 2.5pt double; text-align: right" title="U.S. federal statutory tax rate, amount">1,716</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtdfxgd_c20250101__20251231_zFWa6VGoTgvb" style="border-bottom: Black 2.5pt double; text-align: right" title="U.S. federal statutory tax rate, percent">0.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F00_ztZ6jUMzO2r7" style="width: 15pt; text-align: right">*</td><td id="xdx_F18_zXAvkCY7Mjh1" style="text-align: justify">State taxes in California made up the majority (greater than 50%) of the tax effect in this category.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the year ended December 31, 2024</td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">U.S. Federal Statutory Tax Rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maxdrfyh_c20240101__20241231_zX6npEO1WRy3" style="width: 14%; text-align: right" title="U.S. federal statutory tax rate, amount">(3,154,290</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_mafcdhju_c20240101__20241231_ziEkzKfZP9cd" style="width: 14%; text-align: right" title="U.S. federal statutory tax rate, percent">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State and local taxes, net of federal tax benefit</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_maxdrfyh_c20240101__20241231_zcUu9Sf0sUva" style="text-align: right" title="State and local taxes, net of federal tax benefit, amount">(11,768</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_mafcdhju_c20240101__20241231_zB0NJofbDq2d" style="text-align: right" title="State and local taxes, net of federal tax benefit, percent">0.1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Permanent differences</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--IncomeTaxReconciliationPermanentDifferences_maxdrfyh_c20240101__20241231_zaaJJ1iiNTX8" style="text-align: right" title="Permanent differences, amount">230,890</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--EffectiveIncomeTaxRateReconciliationPermanentDifferences_pid_dp_uPure_mafcdhju_c20240101__20241231_z2lTLJITT0Rd" style="text-align: right" title="Permanent differences,Percent">(1.5</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maxdrfyh_c20240101__20241231_zZlYfXgrQyy3" style="text-align: right" title="Changes in valuation allowances, amount">2,454,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_mafcdhju_c20240101__20241231_zbV4SbFdcNOe" style="text-align: right" title="Changes in valuation allowances, percent">(16.3</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost_maxdrfyh_c20240101__20241231_zKW5keeCTjcd" style="text-align: right" title="Stock-based compensation">482,045</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost_pid_dp_uPure_mafcdhju_c20240101__20241231_zYQ64hmz7d6j" style="text-align: right" title="Stock-based compensation, percent">(3.2</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseOther_maxdrfyh_c20240101__20241231_zB4i2wBNs3O7" style="border-bottom: Black 1pt solid; text-align: right" title="Other">623</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_pid_dp_uPure_mafcdhju_c20240101__20241231_z95H7SJKFHe3" style="border-bottom: Black 1pt solid; text-align: right" title="Other, percent">0.0</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Income tax expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--IncomeTaxExpenseBenefit_iT_mtxdrfyh_c20240101__20241231_z3UL8NgMwpoc" style="border-bottom: Black 2.5pt double; text-align: right" title="Income tax expense, amount">1,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtfcdhju_c20240101__20241231_zuzshvpjB8Y1" style="border-bottom: Black 2.5pt double; text-align: right" title="Income tax expense, percent">0.1</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> The significant components of deferred income taxes were as follows: SCHEDULE OF NET DEFERRED TAX ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20251231_zstASaOJqLv9" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20241231_zUUVMf7c1n1d" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTAGzldB_z3ljflXBbt88" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 64%; text-align: left">Net operating losses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">57,370,722</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">53,447,116</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_iI_maDTAGzldB_zv6G0Zus2Gtj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Capitalized R&D</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,289,605</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,959,591</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_maDTAGzldB_zG5PWAdFhuUj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,070,010</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">288,756</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals_iI_maDTAGzldB_zwbgyB4xKaF6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Accruals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,945</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">249,495</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsFrequentFlierLiability_iI_maDTAGzldB_zsPgDsaoiMZk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,760</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsOther_iI_maDTAGzldB_z59JRezbs72j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">435</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">616</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsGross_iTI_mtDTAGzldB_z7cAoRWCkJ26" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total gross deferred tax assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">60,737,717</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">56,963,334</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred tax liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--DeferredTaxLiabilitiesRightOfUseAsset_iNI_di_maDITLzmXK_zvXyemO0KmQa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Right-of-use asset</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(17,340</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_di_mtDITLzmXK_msDTAGzd1P_zMttSWVWAJoa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Gross deferred tax liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(17,340</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsValuationAllowance_iI_z0pxTegmKn02" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gross deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60,737,717</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,945,994</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsNet_iNI_di_zfMOXkg0x6h7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Valuation Allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(60,737,717</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(56,945,994</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_zDab1jfYzQ95" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax asset/(liabilities)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Deferred income tax assets and liabilities are recorded for differences between the financial statement and tax basis of the assets and liabilities that will result in taxable or deductible amounts in the future based on enacted laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. ASC 740 requires that the tax benefit of net operating losses, temporary differences and credit carryforwards be recorded as an asset to the extent that management assesses that realization is “more likely than not.” Realization of the future tax benefits is dependent on the Company’s ability to generate sufficient taxable income within the carryforward period. Because of the Company’s recent history of operating losses, management believes that recognition of the deferred tax assets arising from the above-mentioned future tax benefits is currently not likely to be realized and, accordingly, has provided a full valuation allowance for the years ended December 31, 2025 and 2024. The net change in total valuation allowance for the years ended December 31, 2025 and 2024 was an increase of $3.8 million and increase of $2.5 million respectively. At December 31, 2025, the Company has United States federal and state net operating loss (NOL) carryforwards of $54.6 million and $8.1 million, respectively. The federal NOL carryforwards generated in pre-2018 tax years of $<span id="xdx_908_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20251231__us-gaap--TaxPeriodAxis__custom--ExpireInTwoThousandThirtySixMember__us-gaap--IncomeTaxAuthorityAxis__custom--FederalMember_ztVFXn4GQ20c" title="Operating loss carryforwards">0.8 million will begin to expire in 2036 while federal NOLs generated after 2017 of $<span id="xdx_908_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20251231__us-gaap--TaxPeriodAxis__custom--IndefinitePeriodMember__us-gaap--IncomeTaxAuthorityAxis__custom--FederalMember_zOnMzLRsn1be" title="Operating loss carryforwards">53.8 million will carry forward indefinitely. The state NOL carryforwards of $<span id="xdx_90C_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20251231__us-gaap--TaxPeriodAxis__custom--ExpireInTwoThousandThirtyFiveMember__us-gaap--IncomeTaxAuthorityAxis__custom--StateMember_zz3qDACW3X38" title="Operating loss carryforwards">8.1 million will begin to expire in 2035 unless previously utilized. At December 31, 2025, the Company also had Israel NOL carryforwards of $197.2 million. The Israel NOLs carry forward indefinitely. The Company’s ability to utilize its net operating losses may be limited under Section 382 and 383 of the Internal Revenue Code. The limitations apply if an ownership change, as defined by Section 382, occurs. Generally, an ownership change occurs when certain shareholders increase their aggregate ownership by more than 50 percentage points over their lowest ownership percentage in a testing period (typically three years). Although the Company has not undergone a Section 382 analysis, it is possible that the utilization of the net operating losses could be substantially limited. Additionally, U.S. tax laws limit the time during which these carryforwards may be utilized against future taxes. As a result, the Company may not be able to take full advantage of these carryforwards for federal and state tax purposes. Future changes in stock ownership may also trigger an ownership change and, consequently, a Section 382 limitation. The Company recognizes the benefit of tax positions taken or expected to be taken in its tax returns in the consolidated financial statements when it is more likely than not that the position will be sustained upon examination by authorities. Recognized tax positions are measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement. As of December 31, 2025 and 2024 the Company has not recorded any unrecognized tax benefits. The Company records interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expenses. As of December 31, 2025 and 2024, the Company recorded no accrued interest and penalties related to unrecognized tax benefits. The Company files U.S. federal and various state income tax returns and is subject to the examination for tax years back to 2022 and 2021 for federal and state purposes, respectively, and its NOLs dating back to inception are subject to adjustment by the taxing authorities if claimed on future tax filings for which the statute remain open to examination. The Company also files Israeli tax returns and is subject to examination for tax years back to 2021. The Company is not currently under audit by the Internal Revenue Service or other similar national, state and local authorities.

Income before provision for income taxes consisted of the following: SCHEDULE OF INCOME BEFORE PROVISION FOR INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"><td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250101__20251231_zB0E0WwSyYF8" style="border-bottom: Black 1pt solid; display: none; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240101__20241231_zShBBSd9qWNi" style="border-bottom: Black 1pt solid; display: none; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_maILFCOzG3u_zHjKpgluNQWd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">U.S.</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(21,447,994</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(15,577,092</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_maILFCOzG3u_zy3RQqTWa7Ha" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">600,800</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">556,663</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_mtILFCOzG3u_zLQDarAjLk4j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total income before provision for income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(20,847,194</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(15,020,429</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-21447994

-15577092

600800

556663

-20847194

-15020429

The provision for income taxes on earnings from continuing operations consisted of the following: SCHEDULE OF INCOME TAX PROVISION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20251231_z5zuihLIQDX5" style="border-bottom: Black 1pt solid; display: none; text-align: center">2025</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240101__20241231_zea7cRy6fTJd" style="border-bottom: Black 1pt solid; display: none; text-align: center">2024</td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the year ended December 31,</td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr id="xdx_408_eus-gaap--CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract_iB_zzIwp6dfxlVh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 64%">Current:</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CurrentFederalTaxExpenseBenefit_zB9JSMXmSPXl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Federal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_maCITEBzr1H_z9c5vD9kOQ63" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">State</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,716</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,700</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--CurrentForeignTaxExpenseBenefit_maCITEBzr1H_z8sr1ZIqA57" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CurrentIncomeTaxExpenseBenefit_mtCITEBzr1H_zE6bHSjEyha6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total Current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,716</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,700</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_iB_zGDkqBz3RLr5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_maDFSALzlXT_zVI4M4S5S6G1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Federal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_maDFSALzlXT_z9Tsm7ceuD0f" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">State</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_maDFSALzlXT_zTIwXveP9F77" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredFederalStateAndLocalTaxExpenseBenefit_iT_pn3n3_mtDFSALzlXT_maITEBzWGq_maDITEBzIlw_zvGkekSW8Of7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total Deferred</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxExpenseBenefit_z1ncF4lubD97" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Income tax expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,716</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1716

1700

1716

1700

1716

1700

The reconciliation of federal statutory income tax rate to our effective tax rate after the adoption of ASU 2023-09 is as follows: SCHEDULE OF EFFECTIVE TAX RATE AND STATUTORY TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the year ended December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">U.S. Federal Statutory Tax Rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_madgfsryh_c20250101__20251231_z1Y72DbiZ5Z1" style="width: 14%; text-align: right" title="U.S. federal statutory tax rate, amount">(4,374,816</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_madfxgd_c20250101__20251231_zEyfenxysphj" style="width: 14%; text-align: right" title="U.S. federal statutory tax rate, percent">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State and Local Income Taxes, Net of Federal Income Tax Effect*</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_madgfsryh_c20250101__20251231_fKg_____zJbkQu2u2Kyk" style="text-align: right" title="U.S. federal statutory tax rate, amount">1,356</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_madfxgd_c20250101__20251231_fKg_____zdFIOzAMumQj" style="text-align: right" title="U.S. federal statutory tax rate, percent">0.0</td><td style="text-align: left">%</td></tr> <tr id="xdx_406_ecustom--IncomeTaxReconciliationPermanentDifferences_madgfsryh_z54CBSjLE2ce" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Permanent differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, amount"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, percent"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--EffectiveIncomeTaxRateReconciliationPermanentDifferences_pid_dp_uPure_madfxgd_zGnQq5uY0gR7" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Permanent differences,Percent</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, amount"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, percent"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign Tax Effects</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--IncomeTaxReconciliationForeignIncomeTaxRateDifferential_madgfsryh_c20250101__20251231_z8F3GR0M8uZg" style="text-align: right" title="U.S. federal statutory tax rate, amount">(126,168</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_dp_madfxgd_c20250101__20251231_z8uzZNIAJqub" style="text-align: right" title="U.S. federal statutory tax rate, percent">0.6</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Changes in Valuation Allowances</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_madgfsryh_c20250101__20251231_zBMeMlpMMlkb" style="text-align: right" title="U.S. federal statutory tax rate, amount">4,077,647</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_madfxgd_c20250101__20251231_zbM4ckhrVuJj" style="text-align: right" title="U.S. federal statutory tax rate, percent">(19.6</td><td style="text-align: left">)%</td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost_madgfsryh_zYbgM1nF08C3" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, amount"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, percent"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost_pid_dp_uPure_madfxgd_zwZcOEOZtgT1" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock-based compensation, percent</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, amount"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, percent"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Nontaxable or Nondeductible items:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, amount"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="U.S. federal statutory tax rate, percent"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Change in fair value of convertible notes</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--IncomeTaxReconciliationChangeInFairValueOfConvertibleNotes_madgfsryh_c20250101__20251231_zArr6mFYPYG1" style="text-align: right" title="U.S. federal statutory tax rate, amount">242,218</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--EffectiveIncomeTaxRateReconciliationChangeInFairValueOfConvertibleNotes_pid_dp_uPure_madfxgd_c20250101__20251231_zj3R1dzZclRb" style="text-align: right" title="U.S. federal statutory tax rate, percent">(1.2</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Other</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseOther_madgfsryh_c20250101__20251231_zyuSGMdWEno1" style="text-align: right" title="U.S. federal statutory tax rate, amount">385,207</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_pid_dp_uPure_madfxgd_c20250101__20251231_zvF7Os4nrCHg" style="text-align: right" title="U.S. federal statutory tax rate, percent">(1.8</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other Adjustments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--IncomeTaxReconciliationOtherAdjustments_madgfsryh_c20250101__20251231_zHHdWExep641" style="border-bottom: Black 1pt solid; text-align: right" title="U.S. federal statutory tax rate, amount">(203,728</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_madfxgd_c20250101__20251231_z6kSV58T51oe" style="border-bottom: Black 1pt solid; text-align: right" title="U.S. federal statutory tax rate, percent">1.0</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Effective Tax Rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--IncomeTaxExpenseBenefit_iT_mtdgfsryh_c20250101__20251231_zrcqgis4OGJ3" style="border-bottom: Black 2.5pt double; text-align: right" title="U.S. federal statutory tax rate, amount">1,716</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtdfxgd_c20250101__20251231_zFWa6VGoTgvb" style="border-bottom: Black 2.5pt double; text-align: right" title="U.S. federal statutory tax rate, percent">0.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F00_ztZ6jUMzO2r7" style="width: 15pt; text-align: right">*</td><td id="xdx_F18_zXAvkCY7Mjh1" style="text-align: justify">State taxes in California made up the majority (greater than 50%) of the tax effect in this category.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the year ended December 31, 2024</td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">U.S. Federal Statutory Tax Rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maxdrfyh_c20240101__20241231_zX6npEO1WRy3" style="width: 14%; text-align: right" title="U.S. federal statutory tax rate, amount">(3,154,290</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_mafcdhju_c20240101__20241231_ziEkzKfZP9cd" style="width: 14%; text-align: right" title="U.S. federal statutory tax rate, percent">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State and local taxes, net of federal tax benefit</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_maxdrfyh_c20240101__20241231_zcUu9Sf0sUva" style="text-align: right" title="State and local taxes, net of federal tax benefit, amount">(11,768</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_mafcdhju_c20240101__20241231_zB0NJofbDq2d" style="text-align: right" title="State and local taxes, net of federal tax benefit, percent">0.1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Permanent differences</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--IncomeTaxReconciliationPermanentDifferences_maxdrfyh_c20240101__20241231_zaaJJ1iiNTX8" style="text-align: right" title="Permanent differences, amount">230,890</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--EffectiveIncomeTaxRateReconciliationPermanentDifferences_pid_dp_uPure_mafcdhju_c20240101__20241231_z2lTLJITT0Rd" style="text-align: right" title="Permanent differences,Percent">(1.5</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maxdrfyh_c20240101__20241231_zZlYfXgrQyy3" style="text-align: right" title="Changes in valuation allowances, amount">2,454,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_mafcdhju_c20240101__20241231_zbV4SbFdcNOe" style="text-align: right" title="Changes in valuation allowances, percent">(16.3</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost_maxdrfyh_c20240101__20241231_zKW5keeCTjcd" style="text-align: right" title="Stock-based compensation">482,045</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost_pid_dp_uPure_mafcdhju_c20240101__20241231_zYQ64hmz7d6j" style="text-align: right" title="Stock-based compensation, percent">(3.2</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseOther_maxdrfyh_c20240101__20241231_zB4i2wBNs3O7" style="border-bottom: Black 1pt solid; text-align: right" title="Other">623</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther_pid_dp_uPure_mafcdhju_c20240101__20241231_z95H7SJKFHe3" style="border-bottom: Black 1pt solid; text-align: right" title="Other, percent">0.0</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Income tax expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--IncomeTaxExpenseBenefit_iT_mtxdrfyh_c20240101__20241231_z3UL8NgMwpoc" style="border-bottom: Black 2.5pt double; text-align: right" title="Income tax expense, amount">1,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtfcdhju_c20240101__20241231_zuzshvpjB8Y1" style="border-bottom: Black 2.5pt double; text-align: right" title="Income tax expense, percent">0.1</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table>

-4374816

0.210

1356

0.000

-126168

0.006

4077647

-0.196

242218 -0.012

385207

-0.018

-203728

0.010

1716

0.000

-3154290

0.210

-11768

0.001

230890 -0.015

2454200

-0.163

482045

-0.032

623

0.000

1700

0.001

The significant components of deferred income taxes were as follows: SCHEDULE OF NET DEFERRED TAX ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20251231_zstASaOJqLv9" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20241231_zUUVMf7c1n1d" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTAGzldB_z3ljflXBbt88" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 64%; text-align: left">Net operating losses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">57,370,722</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">53,447,116</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_iI_maDTAGzldB_zv6G0Zus2Gtj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Capitalized R&D</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,289,605</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,959,591</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_maDTAGzldB_zG5PWAdFhuUj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,070,010</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">288,756</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals_iI_maDTAGzldB_zwbgyB4xKaF6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Accruals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,945</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">249,495</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsFrequentFlierLiability_iI_maDTAGzldB_zsPgDsaoiMZk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,760</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsOther_iI_maDTAGzldB_z59JRezbs72j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">435</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">616</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsGross_iTI_mtDTAGzldB_z7cAoRWCkJ26" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total gross deferred tax assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">60,737,717</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">56,963,334</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred tax liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--DeferredTaxLiabilitiesRightOfUseAsset_iNI_di_maDITLzmXK_zvXyemO0KmQa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Right-of-use asset</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(17,340</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_di_mtDITLzmXK_msDTAGzd1P_zMttSWVWAJoa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Gross deferred tax liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(17,340</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsValuationAllowance_iI_z0pxTegmKn02" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gross deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60,737,717</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,945,994</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsNet_iNI_di_zfMOXkg0x6h7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Valuation Allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(60,737,717</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(56,945,994</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_zDab1jfYzQ95" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax asset/(liabilities)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

57370722

53447116

2289605

2959591

1070010

288756

6945

249495

17760

435

616

60737717

56963334

17340

60737717

56945994

60737717

56945994

3800000

2500000

54600000

8100000

800000

53800000

8100000

197200000

greater than 50% likely of being realized upon settlement

NOTE 10: SEGMENT INFORMATION The Company operates in one business segment, focusing on the development of a novel and patented systemically administered anti-cancer and anti-viral immunotherapy. The Company’s chief operating decision maker (“CODM”) is the chief executive officer. The CODM assesses performance for the segment based on operating expenses as reported in the accompanying consolidated statements of operations. As such, the CODM uses cash forecast models in deciding how to invest into the segment. Such cash forecast models are reviewed to assess the entity-wide operating results and performance. Net loss is used to monitor budget versus actual results. Monitoring budgeted versus actual results is used in assessing performance of the segment. The following table presents reportable segment loss, including significant expenses regularly provided to the CODM, attributable to the Company’s reportable segment for the years ended December 31, 2025 and 2024: SCHEDULE OF REPORTABLE SEGMENT LOSS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" id="xdx_496_20250101__20251231_z2iBa4oCombi" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="2" id="xdx_49B_20240101__20241231_zpSdgrHg9mtg" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the Year ended December 31,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ResearchAndDevelopmentExpense_hcustom--StatementOfIncomeLocationBalanceAxis__custom--ExternalResearchAndDevelopmentMember_zEODSsKGv6Ne" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">External research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,832,371</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,355,449</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ResearchAndDevelopmentExpense_hcustom--StatementOfIncomeLocationBalanceAxis__custom--InternalPersonnelCostsMember_zwlsxII1i7Wk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Internal personnel costs</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,508,588</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,895,648</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--ResearchAndDevelopmentExpense_msNILzkuK_zziGDKKt6Dte" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,340,959</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,251,097</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GeneralAndAdministrativeExpense_msNILzkuK_zUIZumwg9NMa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">General and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,492,554</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,114,654</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OtherOperatingIncomeExpenseNet_iN_di_maNILzkuK_z8TXeECd0xs2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other income, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(138,018</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(343,724</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--ChangeInFairValueOfConvertiblePromissoryNotes_iN_di_maNILzkuK_zshRnroaM2Jh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value of convertible promissory notes</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,153,421</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--NetIncomeLoss_iNT_di_mtNILzkuK_zCgT7WJYgnbe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">20,848,916</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,022,027</td><td style="text-align: left"> </td></tr> </table>

The following table presents reportable segment loss, including significant expenses regularly provided to the CODM, attributable to the Company’s reportable segment for the years ended December 31, 2025 and 2024: SCHEDULE OF REPORTABLE SEGMENT LOSS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" id="xdx_496_20250101__20251231_z2iBa4oCombi" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="2" id="xdx_49B_20240101__20241231_zpSdgrHg9mtg" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the Year ended December 31,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ResearchAndDevelopmentExpense_hcustom--StatementOfIncomeLocationBalanceAxis__custom--ExternalResearchAndDevelopmentMember_zEODSsKGv6Ne" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">External research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,832,371</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,355,449</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ResearchAndDevelopmentExpense_hcustom--StatementOfIncomeLocationBalanceAxis__custom--InternalPersonnelCostsMember_zwlsxII1i7Wk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Internal personnel costs</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,508,588</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,895,648</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--ResearchAndDevelopmentExpense_msNILzkuK_zziGDKKt6Dte" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,340,959</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,251,097</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GeneralAndAdministrativeExpense_msNILzkuK_zUIZumwg9NMa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">General and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,492,554</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,114,654</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OtherOperatingIncomeExpenseNet_iN_di_maNILzkuK_z8TXeECd0xs2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other income, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(138,018</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(343,724</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--ChangeInFairValueOfConvertiblePromissoryNotes_iN_di_maNILzkuK_zshRnroaM2Jh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value of convertible promissory notes</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,153,421</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--NetIncomeLoss_iNT_di_mtNILzkuK_zCgT7WJYgnbe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">20,848,916</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,022,027</td><td style="text-align: left"> </td></tr> </table>

5832371

4355449

3508588

2895648

9340959

7251097

10492554

8114654

138018

343724

-1153421

-20848916

-15022027

NOTE 11: SUBSEQUENT EVENTS The Company evaluated subsequent events from December 31, 2025, the date of these consolidated financial statements, through March 17, 2026, which represents the date the consolidated financial statements were issued, for events requiring recognition or disclosure in the consolidated financial statements for the year ended December 31, 2025. The Company concluded that no events have occurred that would require recognition or disclosure in the consolidated financial statements, except for the following: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">a.</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On February 11, 2026, the Company entered into warrant repricing agreements with certain holders of warrants to purchase an aggregate of <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20260211__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zYTd7NSzOTih" title="Class of warrant or right, number of securities called by warrants or rights">913,638 shares of the Company’s common stock that were issued in financing transactions during 2024 and 2025. Pursuant to these agreements, the exercise price of such warrants was reduced to $<span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260211__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zZgsfJvOyFFh" title="Class of warrant or right, exercise price of warrants or rights">1.75 per share. As a condition to the repricing, the participating holders agreed to enter into a voting agreement pursuant to which they agreed to vote all shares of common stock held by them in favor of the proposals that were presented at the Company’s special stockholder meeting scheduled for February 26, 2026. In addition, on February 11, 2026, the Company’s board of directors approved a reduction of the exercise price to $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260211__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--TitleOfIndividualAxis__custom--BoardOfDirectorsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zkcxXmowfiAj" title="Class of warrant or right, exercise price of warrants or rights">1.75 per share for the remaining warrants and placement agent warrants to purchase an aggregate of <span id="xdx_904_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20260211__us-gaap--StatementEquityComponentsAxis__custom--PlacementAgentWarrantsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zcj5VCZPNGq4" title="Class of warrant or right, number of securities called by warrants or rights">762,787 shares of common stock issued in the same financing transactions. Other than the reduction in the exercise price, all other terms and provisions of the warrants remain unchanged.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif">b.</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On February 26, 2026, the Company’s stockholders voted to approve, among other things, the issuance of shares of the Company’s common stock issuable upon the conversion of the Series AA Preferred Stock and Series AAA Preferred Stock in accordance with Nasdaq Listing Rules 5635(b) and 5635(d). For more details see Note 6(e).</td></tr> </table>

913638

1.75

762787

false false false false Retroactively restated for one-for-twenty-eight share reverse stock split effected on June 27, 2025. Retroactively restated for one-for-twenty-eight share reverse stock split effected on June 27, 2025. Retroactively restated for one-for-twenty-eight share reverse stock split effected on June 27, 2025. Retroactively restated for one-for-twenty-eight share reverse stock split effected on June 27, 2025. State taxes in California made up the majority (greater than 50%) of the tax effect in this category.