NOTE 11 – WARRANTS

In connection with a note (see Note 10 – Convertible Debt and Notes Payable), in August 2024 the Company issued 76,923 warrants to purchase common stock. The warrants have an exercise price of $9.36 per share, are immediately exercisable and have a term of 5 years. In August 2024, the holder exercised 28,571 warrants for shares of common stock on a cashless basis. Pursuant to the adjustment provisions in Section 3(b) of the warrant agreement, the exercise price automatically adjusted following the Company’s issuance of shares at a dilutive price of $1.20 on or about August 14, 2025, resulting in an automatic increase in the aggregate warrant share amount. Accordingly, in August 2025, the holder exercised aggregate of 279,402 warrants for shares of common stock on a cashless basis, including 12,706 warrants issued on October 4, 2023.

As of December 31, 2025 and 2024, the Company remeasured the fair value of warrants outstanding at $10,914 and $919,935, respectively. In connection with the remeasurement of warrants, a loss of $909,020 and a gain of $182,982 was recognized during the years ended December 31, 2025 and 2024, respectively, as the change in fair value of warrant liability.

The Company’s outstanding and exercisable warrants, as of December 31, 2025 and 2024, are presented below:

SCHEDULE OF OUTSTANDING AND EXERCISABLE WARRANTS