Note 16 – Subsequent Events

The Company evaluated subsequent events through the date these financial statements were available to be issued.

On March 4, 2026, the Company received a Wells Notice from the staff of the U.S. Securities and Exchange Commission (the “SEC Staff”). In addition, certain current and former officers, directors, and employees of the Company received Wells Notices relating to the same matter.

The Wells Notices state that the SEC Staff has made a preliminary determination to recommend that the SEC bring an enforcement action against the Company and certain individuals. In the case of the Company, the SEC Staff indicated that it is considering recommending claims alleging violations of Section 17(a) of the Securities Act of 1933, as amended, Sections 10(b), 13(a), 13(b)(2)(A), and 13(b)(3)(B) of the Securities Exchange Act of 1934, as amended, and Rules 10b-5, 12b-20, 12a-1, 13a-11, and 13a-13 thereunder. In the case of the individuals, the SEC Staff indicated that it is considering recommending claims alleging violations of Section 17(a) of the Securities Act, Sections 10(b) and 13(b)(5) of the Exchange Act, and Rules 10b-5 and 13b2-1 thereunder, as well as aiding and abetting certain alleged violations by the Company.

A Wells Notice is not a formal allegation or a finding of wrongdoing. Rather, it is a notice that the SEC Staff has made a preliminary determination to recommend that the SEC authorize the filing of an enforcement action or administrative proceeding. Under SEC procedures, recipients of Wells Notices have the opportunity to respond to the SEC Staff before any decision is made by the SEC.

The Company intends to respond to the SEC Staff regarding the matters raised in the Wells Notices. The Company cannot predict the outcome of the Wells Notice process, any action that may be taken by the SEC, or the timing, costs, or other consequences of these matters. The Company is incurring, and expects to continue to incur, significant legal and other professional fees in connection with this matter. The Company is obligated, subject to the terms of indemnification agreements and applicable law, to indemnify each of the five individuals who received a Wells Notice for costs incurred in connection with the investigation, the Wells Notices, and any related proceedings. An unfavorable outcome could have a material adverse effect on the Company’s business, financial condition, results of operations, cash flows, reputation, ability to obtain financing, and the market price or listing of its securities.

There were no other material subsequent events that required recognition or additional disclosure in these financial statements.