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10-K true 2025-12-31 --12-31 2025 false 000-27407 BIMERGEN ENERGY CORPORATION DE 93-3419812 895 Dove Street Suite 300 Newport Beach CA 92660 (855) 777-0888 Common Stock, par value $0.001 per share Warrants, each share exercisable to purchase one share of Common Stock BESS BESSWS NYSEAMER NYSEAMER No No Yes Yes Non-accelerated Filer true false false false false 10000000 7072573 None Cybersecurity Risk Management and Strategy We recognize the importance of assessing, identifying, and managing material risks associated with cybersecurity threats, as such term is defined in Item 106(a) of Regulation S-K. These risks include, among other things: operational risks, intellectual property theft, fraud, extortion, harm to employees or customers and violation of data privacy or security laws. We do <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_906_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbF_c20250101__20251231_zdwEANuP9Arh">not presently have any general processes for assessing, identifying, and managing material risks from cybersecurity threats. As we expand our business operations, we plan to develop processes that will allow for the identification and assessment of cybersecurity risk that will be integrated into an overall risk management system, which will be managed by senior management and overseen by the Board of Directors. As part of this development, we plan to identify and address cybersecurity risks related to our business, privacy and compliance issues through a multi-faceted approach that is expected to include third party assessments, internal information technology (IT) audit, IT security, governance, risk and compliance reviews. In connection with these planned approaches, and to defend, detect and respond to cybersecurity incidents, we, among other things, will consider: conducting proactive privacy and cybersecurity reviews of systems and applications, audits of applicable data policies, performing penetration testing using external third-party tools and techniques to test security controls, conducting employee training, monitoring emerging laws and regulations related to data protection and information security, and implementing appropriate changes. As part of the above planned processes, we may engage external auditors and consultants with expertise in cybersecurity to assess our internal cybersecurity programs and compliance with applicable practices and standards. We plan to design our risk management program to also assesses third party risks, and we plan to perform third-party risk management to identify and mitigate risks from third parties, such as vendors, suppliers, and other business partners associated with our use of third-party service providers. In addition to new vendor onboarding, we plan to perform risk management during third-party cybersecurity compromise incidents to identify and mitigate risks to us from third-party incidents. false We expect that cybersecurity will become an important part of our risk management processes and an area of focus for our Board of Directors and management. We expect that our Board of Directors will be responsible for the oversight of risks from cybersecurity threats. We expect our senior management will provide our Board of Directors updates on a quarterly basis regarding matters of cybersecurity. This is expected to include existing and new cybersecurity risks, status on how management is addressing and/or mitigating those risks, cybersecurity and data privacy incidents (if any) and status on key information security initiatives. We expect that our Board members will also engage in periodic conversations with management on cybersecurity-related news events and discuss any updates to our cybersecurity risk management and strategy programs. our Co-Chief Executive Officer is expected to lead our cybersecurity risk assessment and management processes and oversees their implementation and maintenance. Our Co-Chief Executive Officer will be tasked with staying informed about, and monitoring the prevention, mitigation, detection and remediation of cybersecurity incidents through his management of, and participation in, the cybersecurity risk management and strategy processes we plan to develop and as described above, including the operation of an incident response plan, and report to the Board of Directors on any appropriate items. 820 We have audited the accompanying consolidated balance sheets of Bimergen Energy Corporation (the Company) as of December 31, 2025 and 2024, and the related consolidated statements of operations, changes in stockholders’ equity, and cash flows for each of the years in the two-year period ended December 31, 2025, and the related notes (collectively referred to as the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of their operations and their cash flows for each of the years in the two-year period ended December, 2025, in conformity with accounting principles generally accepted in the United States of America. Ramirez Jimenez International CPAs Irvine, California

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NOTE 1. DESCRIPTION OF BUSINESS Bimergen Energy Corporation (the “Company”, “we” or “us”) was incorporated under the laws of Delaware on March 4, 1998. In connection with the Company’s planned expansion of its business following the completion of the acquisition of Bitech Mining Corporation, a Wyoming corporation (“BTM”), it filed a Certificate of Amendment to its Certificate of Incorporation, as amended (the “Certificate of Amendment”) with the Secretary of State of the State of Delaware on April 29, 2022 to change its corporate name to Bitech Technologies Corporation. On January 28, 2025, the Company filed a Certificate of Amendment to its Certificate to Incorporation to: (i) effect a reverse stock split of its common stock, par value $0.001 per share (the “Common Stock”) at a ratio of 1 post-split share for every 140 pre-split shares; and (ii) to change the name of the Company to Bimergen Energy Corporation. In April 2024, the Company acquired a portfolio of development-stage Battery Energy Storage System (BESS) and solar energy projects from Emergen Energy LLC (“Emergen”). The acquired portfolio includes 23 utility-scale BESS projects with an estimated cumulative storage capacity of 1.965 gigawatts (GW) and 13 utility-scale solar energy projects with an anticipated cumulative generation capacity of 1.640 GW (collectively, the “Development Projects”), subject to completion of development, construction, and interconnection milestones. The Company became the sole project owner upon acquisition. As of the date of this filing, the Development Projects are in various stages of development and have not yet achieved commercial operation. The Company expects that certain BESS projects may be colocated with solar projects, depending on site configuration and permitting. Reverse Stock Split On February 3, 2025, the Company’s shareholders approved and the Company effected a reverse stock split of the shares of common stock at a ratio of 1-for-140 (the “Reverse Stock Split”). The number of authorized shares and par value per share were not adjusted as a result of the Reverse Stock Split. All references to shares, restricted stock awards, and options to purchase common stock, share data, per share data, and related information contained in the consolidated financial statements have been retrospectively adjusted to reflect the effect of the Reverse Stock Split for all periods presented. Liquidity As of December 31, 2025, the Company had cash and cash equivalents of approximately $0.4 million, negative working capital of approximately $4.5 million, and an accumulated deficit of approximately $9.7 million. The Company also incurred recurring losses from operations during 2025. These conditions initially raised substantial doubt about the Company’s ability to continue as a going concern within one year after the date these consolidated financial statements are issued. Subsequent to year-end, on February 23, 2026, the Company completed an underwritten public offering that generated gross proceeds of approximately $13.6 million, before deducting underwriting discounts, commissions, and offering expenses. The Company intends to use the net proceeds to support BESS project asset development, development of BESS projects, and working capital. Management has also evaluated the Company’s contractual commitments and liquidity needs in light of the completed financing. As of December 31, 2025, no capital call was due from the Company under the RelyEZ / GridSpan joint venture arrangements, and management concluded that the contingent refund obligation associated with the GridSpan $3.564 million payment to the Company was remote as of year-end and has recorded this receipt as deferred revenue. The Company had received non-refundable deposits of $943,500 under the Bridgelink project sale agreement in 2024, for which no revenue had been recognized as of December 31, 2025. The Company also received a $250,000 non-refundable payment under the Eos joint development agreement, which was recorded in deferred revenue. Management prepared an updated liquidity forecast covering the twelve-month period following the issuance of these consolidated financial statements. Based on the net proceeds received from the February 23, 2026 offering, cash on hand as of the issuance date, expected operating expenditures, expected development expenditures within management’s control, and management’s assessment of contractual obligations and deferred revenue arrangements, management concluded that its plans are probable of being effectively implemented and will mitigate the conditions that initially raised substantial doubt within one year after the date these consolidated financial statements are issued. Accordingly, although conditions and events existed as of December 31, 2025 that initially raised substantial doubt about the Company’s ability to continue as a going concern, management concluded that its plans alleviated that substantial doubt prior to the issuance of these consolidated financial statements.

On January 28, 2025, the Company filed a Certificate of Amendment to its Certificate to Incorporation to: (i) effect a reverse stock split of its common stock, par value $0.001 per share (the “Common Stock”) at a ratio of 1 post-split share for every 140 pre-split shares; and (ii) to change the name of the Company to Bimergen Energy Corporation.

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NOTE 2. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Consolidation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). Any references in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). The accompanying consolidated financial statements include the accounts of Bimergen Energy Corporation. and its wholly owned subsidiary, Emergen Energy, LLC. All significant intercompany transactions have been eliminated upon consolidation. Revenue recognition Revenue is recognized pursuant to ASC Topic 606, “Revenue from Contracts with Customers” (ASC 606). Accordingly, revenue is recognized at an amount that reflects the consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer. This principle is applied using the following 5-step process: <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">1.</td> <td style="font: 10pt Times New Roman, Times, Serif">Identify the contract with the customer.</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">2.</td> <td style="font: 10pt Times New Roman, Times, Serif">Identify the performance obligations in the contract.</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">3.</td> <td style="font: 10pt Times New Roman, Times, Serif">Determine the transaction price.</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">4.</td> <td style="font: 10pt Times New Roman, Times, Serif">Allocate the transaction price to the performance obligations in the contract.</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">5.</td> <td style="font: 10pt Times New Roman, Times, Serif">Recognize revenue when (or as) each performance obligation is satisfied.</td></tr> </table> We determined the appropriate method by which we recognize revenue by analyzing the nature of the products or services being provided as well as the terms and conditions of contracts or arrangements entered into with its customers. We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. A contract’s transaction price is allocated to each distinct good or service (i.e., performance obligation) identified in the contract and each performance obligation is valued based on its estimated relative standalone selling price. We recognize the majority of its revenue at a point in time when it satisfies a performance obligation and transfers control of the product to the respective customer. The amount of revenue that is recognized is based on the transaction price, which represents the invoiced amount and includes estimates of variable consideration such as allowances for estimated customer discounts or concessions, where applicable. The amount of variable consideration included in the transaction price may be constrained and is included only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized under the contract will not occur in a future period. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to variable consideration, stock-based compensation, valuation of deferred tax assets and uncertain income tax positions. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the amount reported as revenue and expenses that are not readily apparent from other sources. Actual results may differ materially from those estimates. Development Project Sale Revenue Recognition The Company has entered into agreements with third parties for the sale of solar development projects. These agreements may include an upfront, nonrefundable deposit and have milestone-based consideration related to the development of the project by the purchaser. Nonrefundable Upfront Deposits Upfront deposits are non-contingent and nonrefundable. These amounts are included in the transaction price and recognized as revenue at the point in time when milestones have been reported by the purchaser covering the deposit amount received. Control of the related project rights is transferred to the customer upon completion and payment of the milestones for each project. Transfer of control is determined based on the satisfaction of specified contractual milestones (e.g., execution of site control, delivery of interconnection position, and funding confirmation). The Company does not assess whether the contract contains a significant financing component for upfront deposits when the period between the customer’s payment and the transfer of control is expected to be one year or less. The Company has determined to recognize revenue upon the determination that the appropriate milestones have been met per the project sale contract and as non-refundable. The Company will relieve and charge to cost of sales the proportionate allocation of the intangible asset and the accrual of liabilities to EIP will follow the matching principle of expenses recorded related to the timing of the revenues being recorded. Milestone Payments Milestone Based Consideration Milestone payments represent variable consideration and are included in the transaction price when it becomes probable that a significant reversal of revenue will not occur. The Company evaluates each milestone against the probability and measurability criteria under ASC 606 and includes such amounts in revenue only when achievement of the milestone is deemed probable and the related deliverables have been substantially satisfied. Fair Value of Financial Instruments Cash and cash equivalents, accounts payable, short term loan due to related party and accounts payable – related parties as reflected in the consolidated financial statements, approximates fair value due to their short-term nature to settlement. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Cash and Cash Equivalents Cash and cash equivalents consist of liquid investments with original maturities of three months or less. Cash equivalents are stated at cost, which approximates fair value. We maintain cash and cash equivalents in banks which at times may exceed federally insured limits. We have not experienced any losses on these deposits. Deferred Offering Costs Deferred offering costs consist of legal, accounting, and underwriter costs incurred through the balance sheet date that are directly related to the offering and that will be charged to shareholders’ equity upon the completion of the offering. As of December 31, 2025 and 2024, the Company had deferred offering costs of $393,203 and $222,497, respectively. Intangible Assets To the extent that an intangible asset is successfully developed into a revenue-generating asset, it will become a component of property, plant and equipment. To the extent that an intangible asset is not successfully developed into a revenue-generating assets, it will be considered impaired and charged to operations at that time. The estimation of the fair value of the projects requires significant management judgment with respect to revenue and expense growth rates, changes in working capital and the selection and use of an appropriate discount rate. The estimates of the fair value of the projects are based on the best information available as of the date of the assessment. The use of different assumptions would increase or decrease estimated discounted future operating cash flows and could increase or decrease an impairment charge. Company management uses its judgment in assessing whether assets may have become impaired between annual impairment tests. Indicators such as adverse business conditions, economic factors and technological change or competitive activities may signal that an asset has become impaired. Concentrations of Credit Risk Cash and cash equivalents are financial instruments that potentially subject the Company to concentrations of credit risk. As of December 31, 2025, the Company also had investments in money market funds which can be subject to certain credit risks. The Company mitigates the risks by investing in high-grade instruments, limiting its exposure to any one issuer and monitoring the ongoing creditworthiness of the financial institutions and issuers. The Company has not experienced any material losses on its financial instruments and has full access to and control over all of its cash and cash equivalents. Stock Based Compensation We account for the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors, including employee stock options, based on estimated fair values. Under authoritative guidance issued by the FASB, companies are required to estimate the fair value or calculated value of share-based payment awards on the date of grant using an option-pricing model. The value of awards that are ultimately expected to vest is recognized as expense over the requisite service periods in our consolidated statements of operations. We use the Black-Scholes Option Pricing Model to determine the fair-value of stock-based awards and the market trading price for any restricted stock awards on the day of grant. We recognized $2,189,000 and $1,144,182 stock compensation related to stock options for the years ended December 31, 2025 and 2024, respectively. We recognized $96,000 and $102,000 stock compensation related to restricted stock awards for the years ended December 31, 2025 and 2024, respectively. Income Taxes The Company accounts for income taxes using the asset and liability method; under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax reporting basis of assets and liabilities and are measured using enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Realization of deferred tax assets is dependent upon future earnings, the timing and amount of which are uncertain. In evaluating the ability to recover its deferred income tax assets, the Company considers all available positive and negative evidence, including its operating results, ongoing tax planning and forecasts of future taxable income on a jurisdiction-by-jurisdiction basis. In the event the Company determines that it would be able to realize its deferred income tax assets in the future in excess of their net recorded amount, it would make an adjustment to the valuation allowance that would reduce the provision for income taxes. Conversely, if all or part of the net deferred tax assets are determined not to be realizable in the future, an adjustment to the valuation allowance would be charged to the provision of income taxes in the period when such determination is made. Tax benefits related to uncertain tax positions are recognized when it is more likely than not that a tax position will be sustained during an audit. Tax positions that meet the more-likely-than-not threshold are measured at the largest amount of tax benefit that is greater than 50% likely of being realized upon settlement with the taxing authority. Interest and penalties related to unrecognized tax benefits are included within the provision for income tax. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”. This ASU requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company have prospectively applied these amendments in 2025 on the Company’s consolidated financial statements. Legal Costs and Contingencies In the normal course of business, we incur costs to hire and retain external legal counsel to advise us on regulatory, litigation and other matters. We expense these costs as the related services are received. The Company recognizes a loss contingency when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. If the estimated loss is subject to potential recovery from a third party, we assess the recoverability separately and recognize the amount of recovery only when realization is probable. Loss contingencies that are reasonably possible, but not probable, are disclosed when material. Net Loss per Share Basic and diluted net loss per common share is presented in accordance with ASC Topic 260, “Earnings per Share,” for all periods presented. During the years ended December 31, 2025 and 2024, common stock equivalents from outstanding stock options and warrants have been excluded from the calculation of the diluted loss per share in the consolidated statements of operations, because all such securities were anti-dilutive. The net loss per share is calculated by dividing the net loss by the weighted average number of shares outstanding during the periods. The Company had <span id="xdx_905_eus-gaap--WeightedAverageNumberDilutedSharesOutstandingAdjustment_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zi3YL8Xze1Ch" title="Potentially dilutive options">533,571 and <span id="xdx_906_eus-gaap--WeightedAverageNumberDilutedSharesOutstandingAdjustment_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_z8vI8VAfVbCd" title="Potentially dilutive options">219,643 options that were potentially outstanding dilutive securities during the years ended December 31, 2025 and 2024, respectively Recent Accounting Pronouncements Adopted In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures. In 2025, the Company adopted ASU 2023 09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, on a prospective basis. The adoption impacted the presentation and disaggregation of income tax disclosures but did not affect the Company’s consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted In November 2024, the FASB issued ASU No. 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation (Subtopic 220-40): Disaggregation of Income Statement Expenses”. The amendments in ASU 2024-03 require a public business entity to disclose specific information about certain costs and expenses in the notes to its consolidated financial statements for interim and annual reporting periods. The objective of the disclosure requirements is to provide disaggregated information about a public business entity’s expenses to help investors (a) better understand the entity’s performance, (b) better assess the entity’s prospects for future cash flows, and (c) compare an entity’s performance over time and with that of other entities. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements.

Basis of Presentation and Consolidation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). Any references in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”). The accompanying consolidated financial statements include the accounts of Bimergen Energy Corporation. and its wholly owned subsidiary, Emergen Energy, LLC. All significant intercompany transactions have been eliminated upon consolidation.

Revenue recognition Revenue is recognized pursuant to ASC Topic 606, “Revenue from Contracts with Customers” (ASC 606). Accordingly, revenue is recognized at an amount that reflects the consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer. This principle is applied using the following 5-step process: <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">1.</td> <td style="font: 10pt Times New Roman, Times, Serif">Identify the contract with the customer.</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">2.</td> <td style="font: 10pt Times New Roman, Times, Serif">Identify the performance obligations in the contract.</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">3.</td> <td style="font: 10pt Times New Roman, Times, Serif">Determine the transaction price.</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">4.</td> <td style="font: 10pt Times New Roman, Times, Serif">Allocate the transaction price to the performance obligations in the contract.</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">5.</td> <td style="font: 10pt Times New Roman, Times, Serif">Recognize revenue when (or as) each performance obligation is satisfied.</td></tr> </table> We determined the appropriate method by which we recognize revenue by analyzing the nature of the products or services being provided as well as the terms and conditions of contracts or arrangements entered into with its customers. We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. A contract’s transaction price is allocated to each distinct good or service (i.e., performance obligation) identified in the contract and each performance obligation is valued based on its estimated relative standalone selling price. We recognize the majority of its revenue at a point in time when it satisfies a performance obligation and transfers control of the product to the respective customer. The amount of revenue that is recognized is based on the transaction price, which represents the invoiced amount and includes estimates of variable consideration such as allowances for estimated customer discounts or concessions, where applicable. The amount of variable consideration included in the transaction price may be constrained and is included only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized under the contract will not occur in a future period.

Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to variable consideration, stock-based compensation, valuation of deferred tax assets and uncertain income tax positions. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the amount reported as revenue and expenses that are not readily apparent from other sources. Actual results may differ materially from those estimates.

Development Project Sale Revenue Recognition The Company has entered into agreements with third parties for the sale of solar development projects. These agreements may include an upfront, nonrefundable deposit and have milestone-based consideration related to the development of the project by the purchaser. Nonrefundable Upfront Deposits Upfront deposits are non-contingent and nonrefundable. These amounts are included in the transaction price and recognized as revenue at the point in time when milestones have been reported by the purchaser covering the deposit amount received. Control of the related project rights is transferred to the customer upon completion and payment of the milestones for each project. Transfer of control is determined based on the satisfaction of specified contractual milestones (e.g., execution of site control, delivery of interconnection position, and funding confirmation). The Company does not assess whether the contract contains a significant financing component for upfront deposits when the period between the customer’s payment and the transfer of control is expected to be one year or less. The Company has determined to recognize revenue upon the determination that the appropriate milestones have been met per the project sale contract and as non-refundable. The Company will relieve and charge to cost of sales the proportionate allocation of the intangible asset and the accrual of liabilities to EIP will follow the matching principle of expenses recorded related to the timing of the revenues being recorded. Milestone Payments Milestone Based Consideration Milestone payments represent variable consideration and are included in the transaction price when it becomes probable that a significant reversal of revenue will not occur. The Company evaluates each milestone against the probability and measurability criteria under ASC 606 and includes such amounts in revenue only when achievement of the milestone is deemed probable and the related deliverables have been substantially satisfied.

Fair Value of Financial Instruments Cash and cash equivalents, accounts payable, short term loan due to related party and accounts payable – related parties as reflected in the consolidated financial statements, approximates fair value due to their short-term nature to settlement. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

Cash and Cash Equivalents Cash and cash equivalents consist of liquid investments with original maturities of three months or less. Cash equivalents are stated at cost, which approximates fair value. We maintain cash and cash equivalents in banks which at times may exceed federally insured limits. We have not experienced any losses on these deposits.

Deferred Offering Costs Deferred offering costs consist of legal, accounting, and underwriter costs incurred through the balance sheet date that are directly related to the offering and that will be charged to shareholders’ equity upon the completion of the offering. As of December 31, 2025 and 2024, the Company had deferred offering costs of $393,203 and $222,497, respectively.

393203

222497

Intangible Assets To the extent that an intangible asset is successfully developed into a revenue-generating asset, it will become a component of property, plant and equipment. To the extent that an intangible asset is not successfully developed into a revenue-generating assets, it will be considered impaired and charged to operations at that time. The estimation of the fair value of the projects requires significant management judgment with respect to revenue and expense growth rates, changes in working capital and the selection and use of an appropriate discount rate. The estimates of the fair value of the projects are based on the best information available as of the date of the assessment. The use of different assumptions would increase or decrease estimated discounted future operating cash flows and could increase or decrease an impairment charge. Company management uses its judgment in assessing whether assets may have become impaired between annual impairment tests. Indicators such as adverse business conditions, economic factors and technological change or competitive activities may signal that an asset has become impaired.

Concentrations of Credit Risk Cash and cash equivalents are financial instruments that potentially subject the Company to concentrations of credit risk. As of December 31, 2025, the Company also had investments in money market funds which can be subject to certain credit risks. The Company mitigates the risks by investing in high-grade instruments, limiting its exposure to any one issuer and monitoring the ongoing creditworthiness of the financial institutions and issuers. The Company has not experienced any material losses on its financial instruments and has full access to and control over all of its cash and cash equivalents.

Stock Based Compensation We account for the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors, including employee stock options, based on estimated fair values. Under authoritative guidance issued by the FASB, companies are required to estimate the fair value or calculated value of share-based payment awards on the date of grant using an option-pricing model. The value of awards that are ultimately expected to vest is recognized as expense over the requisite service periods in our consolidated statements of operations. We use the Black-Scholes Option Pricing Model to determine the fair-value of stock-based awards and the market trading price for any restricted stock awards on the day of grant. We recognized $2,189,000 and $1,144,182 stock compensation related to stock options for the years ended December 31, 2025 and 2024, respectively. We recognized $96,000 and $102,000 stock compensation related to restricted stock awards for the years ended December 31, 2025 and 2024, respectively.

2189000

1144182

96000

102000

Income Taxes The Company accounts for income taxes using the asset and liability method; under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax reporting basis of assets and liabilities and are measured using enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Realization of deferred tax assets is dependent upon future earnings, the timing and amount of which are uncertain. In evaluating the ability to recover its deferred income tax assets, the Company considers all available positive and negative evidence, including its operating results, ongoing tax planning and forecasts of future taxable income on a jurisdiction-by-jurisdiction basis. In the event the Company determines that it would be able to realize its deferred income tax assets in the future in excess of their net recorded amount, it would make an adjustment to the valuation allowance that would reduce the provision for income taxes. Conversely, if all or part of the net deferred tax assets are determined not to be realizable in the future, an adjustment to the valuation allowance would be charged to the provision of income taxes in the period when such determination is made. Tax benefits related to uncertain tax positions are recognized when it is more likely than not that a tax position will be sustained during an audit. Tax positions that meet the more-likely-than-not threshold are measured at the largest amount of tax benefit that is greater than 50% likely of being realized upon settlement with the taxing authority. Interest and penalties related to unrecognized tax benefits are included within the provision for income tax. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”. This ASU requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company have prospectively applied these amendments in 2025 on the Company’s consolidated financial statements.

Legal Costs and Contingencies In the normal course of business, we incur costs to hire and retain external legal counsel to advise us on regulatory, litigation and other matters. We expense these costs as the related services are received. The Company recognizes a loss contingency when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. If the estimated loss is subject to potential recovery from a third party, we assess the recoverability separately and recognize the amount of recovery only when realization is probable. Loss contingencies that are reasonably possible, but not probable, are disclosed when material.

Net Loss per Share Basic and diluted net loss per common share is presented in accordance with ASC Topic 260, “Earnings per Share,” for all periods presented. During the years ended December 31, 2025 and 2024, common stock equivalents from outstanding stock options and warrants have been excluded from the calculation of the diluted loss per share in the consolidated statements of operations, because all such securities were anti-dilutive. The net loss per share is calculated by dividing the net loss by the weighted average number of shares outstanding during the periods. The Company had <span id="xdx_905_eus-gaap--WeightedAverageNumberDilutedSharesOutstandingAdjustment_pid_c20250101__20251231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zi3YL8Xze1Ch" title="Potentially dilutive options">533,571 and <span id="xdx_906_eus-gaap--WeightedAverageNumberDilutedSharesOutstandingAdjustment_pid_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_z8vI8VAfVbCd" title="Potentially dilutive options">219,643 options that were potentially outstanding dilutive securities during the years ended December 31, 2025 and 2024, respectively

533571

219643

Recent Accounting Pronouncements Adopted In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures. In 2025, the Company adopted ASU 2023 09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, on a prospective basis. The adoption impacted the presentation and disaggregation of income tax disclosures but did not affect the Company’s consolidated financial statements.

Recent Accounting Pronouncements Not Yet Adopted In November 2024, the FASB issued ASU No. 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation (Subtopic 220-40): Disaggregation of Income Statement Expenses”. The amendments in ASU 2024-03 require a public business entity to disclose specific information about certain costs and expenses in the notes to its consolidated financial statements for interim and annual reporting periods. The objective of the disclosure requirements is to provide disaggregated information about a public business entity’s expenses to help investors (a) better understand the entity’s performance, (b) better assess the entity’s prospects for future cash flows, and (c) compare an entity’s performance over time and with that of other entities. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements.

NOTE 3. STOCKHOLDERS’ EQUITY The total number of authorized shares of our common stock, par value $0.001 per share, was 1,000,000,000 shares. As of December 31, 2025 and 2024, there were 3,930,906 and 5,121,384 common shares issued and outstanding, respectively. The total number of authorized shares of our preferred stock, par value $0.001 per share, was 10,000,000. There was no preferred stock outstanding as of December 31, 2025 and 2024. During the year ended December 31, 2024 the Company sold <span id="xdx_908_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EightPrivateInvestorsMember_z3NdHt03Qrlf" title="Sale of unregistered shares of common stock, shares">64,337 unregistered shares of its Common Stock to eight private accredited investors for an aggregate of $<span id="xdx_90E_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EightPrivateInvestorsMember_zfKALaWfinni" title="Sale of unregistered shares of common stock, value">576,000 ($<span id="xdx_90A_eus-gaap--SaleOfStockPricePerShare_iI_c20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EightPrivateInvestorsMember__srt--RangeAxis__srt--MinimumMember_zpwhrMJ7AWJ6" title="Stock price per share">7.00 - $<span id="xdx_90E_eus-gaap--SaleOfStockPricePerShare_iI_c20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EightPrivateInvestorsMember__srt--RangeAxis__srt--MaximumMember_zqQ1jCaTFI65" title="Stock price per share">11.20 per share) The Company issued <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zVWtqGM6VXkb" title="Number of shares issued for service">6,970 unregistered shares of its Common Stock valued at $79,209 during the year ended December 31, 2024 as payment for services provided to the Company. The Company issued <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20240101__20240131__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__srt--TitleOfIndividualAxis__custom--TwoEmployeesMember_z19tJGK25z19" title="Number of shares issued for service">14,286 of restricted securities awards valued at $<span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20240101__20240131__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__srt--TitleOfIndividualAxis__custom--TwoEmployeesMember_zzTdlTu2otZ8" title="Number of shares issued for service, value">120,000 ($<span id="xdx_907_eus-gaap--SharesIssuedPricePerShare_iI_c20240131__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__srt--TitleOfIndividualAxis__custom--TwoEmployeesMember_zffDjkdSv3ze" title="Share price">8.40 per share) during January 2024 and recorded $<span id="xdx_900_eus-gaap--ShareBasedCompensation_c20240101__20240331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__srt--TitleOfIndividualAxis__custom--TwoEmployeesMember_zvD2whl3l695" title="Share based compensation">30,000 as stock compensation expense in the quarter ended March 31, 2024 as payment for services provided by two employees of the Company. Services were cancelled as of December 2024 and <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__srt--TitleOfIndividualAxis__custom--TwoEmployeesMember_zcoJ9ajd2vl2" title="Number of shares cancelled">10,714 restricted common shares were cancelled. The Company issued <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20240701__20240701__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__srt--TitleOfIndividualAxis__custom--ConsultantMember_z5IoLA8AtFQl" title="Number of shares issued for service">17,143 of restricted securities awards valued at $<span id="xdx_901_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20240701__20240701__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__srt--TitleOfIndividualAxis__custom--ConsultantMember_zen7U7lixJLd" title="Number of shares issued for service, value">192,000 ($<span id="xdx_904_eus-gaap--SharesIssuedPricePerShare_iI_c20240701__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__srt--TitleOfIndividualAxis__custom--ConsultantMember_zQIhNNO6ztTk" title="Share price">11.20 per share) on July 1, 2024 and recorded $<span id="xdx_904_eus-gaap--ShareBasedCompensation_c20240701__20240701__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__srt--TitleOfIndividualAxis__custom--ConsultantMember_zgaZ2pYHff0e" title="Share based compensation">72,000 as stock compensation expense in the year ended December 31, 2024 as payment for services provided by the consultant of the Company. The remaining will vest quarterly through April 2026. During the year ended December 31, 2025 the Company sold <span id="xdx_90E_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FourPrivateInvestorsMember_z20RxEhBhrEe" title="Sale of unregistered shares of common stock, shares">65,000 unregistered shares of its Common Stock to four private accredited investors for an aggregate of $<span id="xdx_90F_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FourPrivateInvestorsMember_zH30aTyj6CK4" title="Sale of unregistered shares of common stock, value">390,000 ($<span id="xdx_90C_eus-gaap--SaleOfStockPricePerShare_iI_c20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EightPrivateInvestorsMember_zGnC0cXQgpU9" title="Stock price per share">6.00 per share) During the year ended December 31, 2025 the Company issued 26,616 unregistered shares of its Common Stock for services valued at $167,611.

0.001

1000000000

3930906

5121384

0.001

10000000

64337

576000

7.00

11.20

6970

79209

14286

120000

8.40

30000

10714

17143

192000

11.20

72000

65000

390000

6.00

26616

167611

NOTE 4. STOCK OPTIONS As of December 31, 2025 and December 31, 2024, there were 1,414,286 and 966,072 options outstanding, respectively. The Company adopted an option plan in December 2025 and can issue up to 500,000 non-qualified stock options to purchase common stock. All options outstanding as of December 31, 2025 were issued prior to the plan being adopted hence are non-plan grants. We have granted non-qualified stock options to employees and contractors. All non-qualified options are generally issued with an exercise price no less than the fair value of the common stock on the date of the grant as determined by our Board of Directors. Options typically may be exercised up to ten years following the date of the grant, with vesting schedules determined by us upon grant. Vesting schedules vary by grant, with some fully vesting immediately upon grant to others that ratably vest over a period of time up to five years. Standard vested options may be exercised up to three months following date of termination of the relationship unless alternate terms are specified at grant. The fair values of options are determined using the Black-Scholes option-pricing model. Forfeitures are accounted for as they occur. The estimated fair value of options is recognized as expense on the straight-line basis over the options’ vesting periods. At December 31, 2025, we had approximately $5.4 million unrecognized stock-based compensation related to stock options expected to be recognized over the next <span id="xdx_905_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20250101__20251231_zfLuTuhmC1Td" title="Recognized weighted average period">2.0 years on a weighted average. Stock option transactions during the year ended December 31, 2025 were as follows: SCHEDULE OF STOCK OPTION TRANSACTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Shares</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">Weighted- Average Exercise Price</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">Weighted Average Remaining Contractual Term (in years)</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">Aggregate Intrinsic Value (in millions)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Outstanding at December 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250101__20251231_zsdrLuiYmS2c" style="width: 11%; text-align: right" title="Number of Shares, Outstanding at Beginning of Year">966,072</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_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20250101__20251231_z9SZRr0TtaQj" style="width: 11%; text-align: right" title="Weighted-Average Exercise Price. Outstanding at Beginning of Year">102.75</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: 11%; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231_zNE1y9Jk1Hjg" title="Options Outstanding, Weighted Average Remaining Contractual Life">9.0</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_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iS_pn5n6_c20250101__20251231_zlAlfQgv2dDg" style="width: 11%; text-align: right" title="Aggregate Intrinsic Value, Outstanding at Beginning of Year">1.0</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Options Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250101__20251231_zSePvHwW0Fnl" style="text-align: right" title="Options Granted, Shares">450,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20250101__20251231_z88s4s67WXcd" style="text-align: right" title="Weighted-Average Exercise Price, Options Granted">4.50</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 style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Options Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_d0_c20250101__20251231_zKFHLyPI8czd" style="text-align: right" title="Options Exercised, Shares">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20250101__20251231_zXuPOfbE7B33" style="text-align: right" title="Weighted-Average Exercise Price, Options Exercised">-</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 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">Repriced legacy options (modification)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--ShareBasedCompensationRepricedLegacyOptions_d0_c20250101__20251231_zEku65is2Tkd" style="text-align: right" title="Repriced legacy Options, Shares">(700,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementsByRepricedLegacyOptionsInPeriodWeightedAverageExercisePrice_c20250101__20251231_zcpKXM0bBOBb" style="text-align: right" title="Weighted-Average Exercise Price, Repriced legacy Options (modification)">140.00</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 style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Reissued legacy options (repriced)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationReissuedLegacyOptions_d0_c20250101__20251231_zwlHFSSnczel" style="text-align: right" title="Reissued legacy options, Shares">700,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementsByReissuedLegacyOptionsInPeriodWeightedAverageExercisePrice_c20250101__20251231_zNOcM848KIXd" style="text-align: right" title="Weighted-Average Exercise Price, Reissued legacy options (repriced)">4.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTermReissuedLegacyOptions_dtY_c20250101__20251231_zNotfUVUG2nf" title="Reissued legacy options (repriced), Weighted Average Remaining Contractual Life">8.3</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; padding-bottom: 1pt">Options Forfeited or Cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20250101__20251231_zrqTInpuWn2g" style="border-bottom: Black 1pt solid; text-align: right" title="Options Forfeited or Cancelled, Shares">(1,786</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20250101__20251231_zHs8hLCOZJXc" style="padding-bottom: 1pt; text-align: right" title="Weighted-Average Exercise Price, Options Forfeited or Cancelled">14.70</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </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: 1pt">Options Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20250101__20251231_zzDcdMcWwrCf" style="border-bottom: Black 1pt solid; text-align: right" title="Options Expired, Shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20250101__20251231_zUrlI15gWffd" style="padding-bottom: 1pt; text-align: right" title="Weighted-Average Exercise Price, Options Expired">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Outstanding and Vested or Expected to Vest at December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250101__20251231_fKDEp_zBdbc8x87UO7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares, Outstanding at Ending of Year">1,414,286</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250101__20251231_fKDEp_zuQ2NueXkYy5" style="padding-bottom: 2.5pt; text-align: right" title="Weighted-Average Exercise Price, Outstanding at Ending of Year">4.53</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_fKDEp_z8fOumhNFE7k" title="Options Outstanding, Weighted Average Remaining Contractual Life">8.5</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iE_pn5n6_c20250101__20251231_fKDEp_zIhMiYxqGDp8" style="padding-bottom: 2.5pt; text-align: right" title="Aggregate Intrinsic Value, Outstanding at Ending of Year">8.5</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Options Exercisable at December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20251231_zszyr2LpEB8a" style="border-bottom: Black 2.5pt double; text-align: right" title="Options Exercisable, Shares">533,571</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20251231_zNu1tBbgVnsi" style="padding-bottom: 2.5pt; text-align: right" title="Weighted-Average Exercise Price, Outstanding at Beginning of Year">4.58</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_zlVsHgeud9Ce" title="Options Exercisable, Weighted Average Remaining Contractual Life">8.1</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iE_pn5n6_c20250101__20251231_zP4ovOchKIb2" style="padding-bottom: 2.5pt; text-align: right" title="Aggregate Intrinsic Value, Options Exercisable">3.2</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> On August 26, 2025, the Company repriced 700,000 outstanding stock options originally granted in prior periods from a weighted-average exercise price of $ <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20250825__20250825_zFUdT5URYIO7" title="Weighted-average exercise price">140.00 to $ <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20250826__20250826_zcyLULhKU7Da" title="Weighted-average exercise price">4.50 per share. The modification was accounted for in accordance with ASC 718. The incremental fair value of the modified awards, measured on the modification date, was approximately $<span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20250826__20250826_zckYQkQxxgS9" title="Stock option granted, value">1,518,000, of which $318,000 related to vested awards was recognized immediately and the remainder will be recognized prospectively over the remaining vesting periods. No options were exercised during the period ended December 31, 2025. We recognized stock compensation of $2,189,000 and $1,144,182 related to stock options for the years ended December 31, 2025 and 2024, respectively. The Black-Scholes option pricing model, used to estimate fair value of the option awards, requires the use of the following assumptions: ● Fair value of common stock. The fair value of the common stock is the Company’s closing price per share on the OTC listing at the grant date. ● Expected Term. The expected term of options granted represents the period of time that the options are expected to be outstanding. Due to the lack of historical exercise history, the expected term of the Company’s stock options has been determined by calculating the midpoint of the contractual term of the options and the weighted-average vesting period. ● Expected Volatility. The expected stock price volatility assumption was determined by examining the historical volatilities for industry peers, as the Company did not have any trading history for the common stock. The Company will continue to analyze the historical stock price volatility and expected term assumption as more historical data for the common stock becomes available. ● Risk-Free Interest Rate. The risk-free interest rate assumption is based on the U.S. Treasury instrument whose term was consistent with the expected term of the Company’s stock options. ● Dividends. The Company has not paid any cash dividends on common stock since inception and does not anticipate paying any dividends in the foreseeable future. Consequently, an expected dividend yield of zero was used. <p id="xdx_89D_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zJbDYAavjFq6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The fair value of options granted was estimated using the Black-Scholes valuation model using the following assumptions for the years ended December 31, 2025 and 2024, respectively: SCHEDULE OF FAIR VALUE OF VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Expected volatility</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_uPure_c20250101__20251231_z4zjsB6Wuk2a" style="width: 16%; text-align: right" title="Expected volatility">105</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_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_uPure_c20240101__20241231_z67lnhyDGsna" style="width: 16%; text-align: right" title="Expected volatility">99</td><td style="width: 1%; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend yield</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_dp_uPure_c20250101__20251231_z8rjYkEfkLxj" style="text-align: right" title="Expected dividend yield">—</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_dp_uPure_c20240101__20241231_zjxad4UXevxk" style="text-align: right" title="Expected dividend yield">—</td><td style="text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250101__20251231__srt--RangeAxis__srt--MinimumMember_zG9nMDOSQcFb" title="Expected term (in years)">4.3-<span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250101__20251231__srt--RangeAxis__srt--MaximumMember_zX8OvCDhSogc" title="Expected term (in years)">6.2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__srt--RangeAxis__srt--MinimumMember_z3okDhJ7xE9a" title="Expected term (in years)">5.8-<span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__srt--RangeAxis__srt--MaximumMember_zGEv8C1ErrDl" title="Expected term (in years)">6.1</td><td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_uPure_c20240101__20241231__srt--RangeAxis__srt--MinimumMember_zTq8jPMcFbEh" title="Risk-free interest rate">4.0% - <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_uPure_c20240101__20241231__srt--RangeAxis__srt--MaximumMember_zJPBlSNvcCIk" title="Risk-free interest rate">4.7</td><td style="text-align: left">%</td> </tr> </table> The fair value of options granted was estimated using the Black-Scholes valuation model using the following assumptions for the years ended December 31, 2025 and 2024, respectively: Aggregate intrinsic value represents the difference between the fair value of the underlying common stock and the exercise price. The intrinsic value of options outstanding at December 31, 2024 was $<span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iI_pn5n6_c20241231_zJXWSnAxvE78" title="Intrinsic value of options outstanding">1.0 million. The intrinsic value of options outstanding and vested or expected to vest and exercisable at December 31, 2025 was $<span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iI_pn5n6_c20251231_zP4zt0xsH4rg" title="Intrinsic value of options vested and exerciseable">8.5 million and $<span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iI_pn5n6_c20241231_zosfjsfyGkX2" title="Intrinsic value of options vested and exerciseable">3.2 million, respectively. The weighted-average grant date fair value of options granted for the years ended December 31, 2025 and 2024, was $<span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20240101__20241231_zLaeVkoqbbEa" title="Weighted average exercise price">2.72 and $<span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20240101__20241231_z6wmgAD2vyeg" title="Weighted average exercise price">6.88, respectively. No options were exercised during the years ended December 31, 2025 and 2024.

1414286

966072

500000

5400000

P2Y

Stock option transactions during the year ended December 31, 2025 were as follows: SCHEDULE OF STOCK OPTION TRANSACTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Shares</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">Weighted- Average Exercise Price</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">Weighted Average Remaining Contractual Term (in years)</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">Aggregate Intrinsic Value (in millions)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Outstanding at December 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250101__20251231_zsdrLuiYmS2c" style="width: 11%; text-align: right" title="Number of Shares, Outstanding at Beginning of Year">966,072</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20250101__20251231_z9SZRr0TtaQj" style="width: 11%; text-align: right" title="Weighted-Average Exercise Price. Outstanding at Beginning of Year">102.75</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231_zNE1y9Jk1Hjg" title="Options Outstanding, Weighted Average Remaining Contractual Life">9.0</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iS_pn5n6_c20250101__20251231_zlAlfQgv2dDg" style="width: 11%; text-align: right" title="Aggregate Intrinsic Value, Outstanding at Beginning of Year">1.0</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Options Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250101__20251231_zSePvHwW0Fnl" style="text-align: right" title="Options Granted, Shares">450,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20250101__20251231_z88s4s67WXcd" style="text-align: right" title="Weighted-Average Exercise Price, Options Granted">4.50</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 style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Options Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_d0_c20250101__20251231_zKFHLyPI8czd" style="text-align: right" title="Options Exercised, Shares">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20250101__20251231_zXuPOfbE7B33" style="text-align: right" title="Weighted-Average Exercise Price, Options Exercised">-</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 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">Repriced legacy options (modification)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--ShareBasedCompensationRepricedLegacyOptions_d0_c20250101__20251231_zEku65is2Tkd" style="text-align: right" title="Repriced legacy Options, Shares">(700,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementsByRepricedLegacyOptionsInPeriodWeightedAverageExercisePrice_c20250101__20251231_zcpKXM0bBOBb" style="text-align: right" title="Weighted-Average Exercise Price, Repriced legacy Options (modification)">140.00</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 style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Reissued legacy options (repriced)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationReissuedLegacyOptions_d0_c20250101__20251231_zwlHFSSnczel" style="text-align: right" title="Reissued legacy options, Shares">700,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementsByReissuedLegacyOptionsInPeriodWeightedAverageExercisePrice_c20250101__20251231_zNOcM848KIXd" style="text-align: right" title="Weighted-Average Exercise Price, Reissued legacy options (repriced)">4.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTermReissuedLegacyOptions_dtY_c20250101__20251231_zNotfUVUG2nf" title="Reissued legacy options (repriced), Weighted Average Remaining Contractual Life">8.3</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; padding-bottom: 1pt">Options Forfeited or Cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20250101__20251231_zrqTInpuWn2g" style="border-bottom: Black 1pt solid; text-align: right" title="Options Forfeited or Cancelled, Shares">(1,786</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20250101__20251231_zHs8hLCOZJXc" style="padding-bottom: 1pt; text-align: right" title="Weighted-Average Exercise Price, Options Forfeited or Cancelled">14.70</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </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: 1pt">Options Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20250101__20251231_zzDcdMcWwrCf" style="border-bottom: Black 1pt solid; text-align: right" title="Options Expired, Shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20250101__20251231_zUrlI15gWffd" style="padding-bottom: 1pt; text-align: right" title="Weighted-Average Exercise Price, Options Expired">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Outstanding and Vested or Expected to Vest at December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250101__20251231_fKDEp_zBdbc8x87UO7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares, Outstanding at Ending of Year">1,414,286</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250101__20251231_fKDEp_zuQ2NueXkYy5" style="padding-bottom: 2.5pt; text-align: right" title="Weighted-Average Exercise Price, Outstanding at Ending of Year">4.53</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_fKDEp_z8fOumhNFE7k" title="Options Outstanding, Weighted Average Remaining Contractual Life">8.5</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iE_pn5n6_c20250101__20251231_fKDEp_zIhMiYxqGDp8" style="padding-bottom: 2.5pt; text-align: right" title="Aggregate Intrinsic Value, Outstanding at Ending of Year">8.5</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Options Exercisable at December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20251231_zszyr2LpEB8a" style="border-bottom: Black 2.5pt double; text-align: right" title="Options Exercisable, Shares">533,571</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20251231_zNu1tBbgVnsi" style="padding-bottom: 2.5pt; text-align: right" title="Weighted-Average Exercise Price, Outstanding at Beginning of Year">4.58</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_zlVsHgeud9Ce" title="Options Exercisable, Weighted Average Remaining Contractual Life">8.1</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iE_pn5n6_c20250101__20251231_zP4ovOchKIb2" style="padding-bottom: 2.5pt; text-align: right" title="Aggregate Intrinsic Value, Options Exercisable">3.2</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

966072

102.75

P9Y

1000000.0

450000

4.50

-0

-700000 140.00 700000 4.50 P8Y3M18D

1786

14.70

1414286

4.53

P8Y6M

8500000

533571

4.58

P8Y1M6D

3200000

700000

140.00

4.50

1518000

318000

2189000

1144182

<p id="xdx_89D_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zJbDYAavjFq6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The fair value of options granted was estimated using the Black-Scholes valuation model using the following assumptions for the years ended December 31, 2025 and 2024, respectively: SCHEDULE OF FAIR VALUE OF VALUATION ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Expected volatility</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_uPure_c20250101__20251231_z4zjsB6Wuk2a" style="width: 16%; text-align: right" title="Expected volatility">105</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_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_uPure_c20240101__20241231_z67lnhyDGsna" style="width: 16%; text-align: right" title="Expected volatility">99</td><td style="width: 1%; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend yield</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_dp_uPure_c20250101__20251231_z8rjYkEfkLxj" style="text-align: right" title="Expected dividend yield">—</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_dp_uPure_c20240101__20241231_zjxad4UXevxk" style="text-align: right" title="Expected dividend yield">—</td><td style="text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250101__20251231__srt--RangeAxis__srt--MinimumMember_zG9nMDOSQcFb" title="Expected term (in years)">4.3-<span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250101__20251231__srt--RangeAxis__srt--MaximumMember_zX8OvCDhSogc" title="Expected term (in years)">6.2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__srt--RangeAxis__srt--MinimumMember_z3okDhJ7xE9a" title="Expected term (in years)">5.8-<span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__srt--RangeAxis__srt--MaximumMember_zGEv8C1ErrDl" title="Expected term (in years)">6.1</td><td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_uPure_c20240101__20241231__srt--RangeAxis__srt--MinimumMember_zTq8jPMcFbEh" title="Risk-free interest rate">4.0% - <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_uPure_c20240101__20241231__srt--RangeAxis__srt--MaximumMember_zJPBlSNvcCIk" title="Risk-free interest rate">4.7</td><td style="text-align: left">%</td> </tr> </table>

1.05

0.99

P4Y3M18D

P6Y2M12D

P5Y9M18D

P6Y1M6D

0.038

0.040

0.047

1000000.0

8500000

3200000

2.72

6.88

NOTE 5. RESTRICTED STOCK AWARDS Restricted Stock Award transactions during the years ended December 31, 2025 were as follows: SCHEDULE OF RESTRICTED STOCK AWARDS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Shares</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">Weighted- Average Grant Date Fair Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Unvested at Beginning of Period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250101__20251231_zCWEOAijVlal" style="width: 16%; text-align: right" title="Number of Shares, Unvested at Beginning of Period">69,883</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_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20250101__20251231_zB4vFUbw4RBb" style="width: 16%; text-align: right" title="Weighted- Average Grant Date Fair Value, Unvested at Beginning of Period">34.05</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20250101__20251231_zBPiNJIDcmRc" style="text-align: right" title="Number of Shares, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20250101__20251231_z131kGPs9wr" style="text-align: right" title="Weighted- Average Grant Date Fair Value, Granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20250101__20251231_z1ozmbCDcfs9" style="text-align: right" title="Number of Shares, Vested">(8,572</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_c20250101__20251231_zn7lc4Dvto5d" style="text-align: right" title="Weighted- Average Grant Date Fair Value, Vested">11.20</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Forfeited or Cancelled RSAs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20250101__20251231_zO7UPIx4eeZ7" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares, Forfeited or Cancelled RSAs">-</td><td style="padding-bottom: 1pt; text-align: left"></td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20250101__20251231_zT21TOSaALN8" style="padding-bottom: 1pt; text-align: right" title="Weighted- Average Grant Date Fair Value, Forfeited or Cancelled RSAs">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Unvested at End of Period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250101__20251231_zdm9pFccgWma" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares, Unvested at End of Period">61,312</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20250101__20251231_zgYU53v8f342" style="padding-bottom: 2.5pt; text-align: right" title="Weighted- Average Grant Date Fair Value, Unvested at End of Period">36.85</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> At December 31, 2025, we had approximately $<span id="xdx_90F_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn5n6_c20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z0z7vbPxCJtb" title="Unrecognized stock-based compensation">2.3 million unrecognized stock-based compensation related to restricted stock awards. The weighted average non-performance based will be recognized over the next <span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zp1AhvMdqK8a" title="Weighted average non-performance years">0.3 years. The performance based restricted stock awards of $<span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_pn5n6_c20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zn1Rd9V0IYT5" title="Weighted average restricted stock awards">2.2 million will be recognized in 2026. The Company recognized stock compensation of $96,000 and $102,000 related to restricted stock awards for the years ended December 31, 2025 and 2024, respectively.

Restricted Stock Award transactions during the years ended December 31, 2025 were as follows: SCHEDULE OF RESTRICTED STOCK AWARDS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Shares</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">Weighted- Average Grant Date Fair Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Unvested at Beginning of Period</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250101__20251231_zCWEOAijVlal" style="width: 16%; text-align: right" title="Number of Shares, Unvested at Beginning of Period">69,883</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_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_c20250101__20251231_zB4vFUbw4RBb" style="width: 16%; text-align: right" title="Weighted- Average Grant Date Fair Value, Unvested at Beginning of Period">34.05</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20250101__20251231_zBPiNJIDcmRc" style="text-align: right" title="Number of Shares, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20250101__20251231_z131kGPs9wr" style="text-align: right" title="Weighted- Average Grant Date Fair Value, Granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20250101__20251231_z1ozmbCDcfs9" style="text-align: right" title="Number of Shares, Vested">(8,572</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_c20250101__20251231_zn7lc4Dvto5d" style="text-align: right" title="Weighted- Average Grant Date Fair Value, Vested">11.20</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Forfeited or Cancelled RSAs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20250101__20251231_zO7UPIx4eeZ7" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares, Forfeited or Cancelled RSAs">-</td><td style="padding-bottom: 1pt; text-align: left"></td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20250101__20251231_zT21TOSaALN8" style="padding-bottom: 1pt; text-align: right" title="Weighted- Average Grant Date Fair Value, Forfeited or Cancelled RSAs">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Unvested at End of Period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250101__20251231_zdm9pFccgWma" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares, Unvested at End of Period">61,312</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_c20250101__20251231_zgYU53v8f342" style="padding-bottom: 2.5pt; text-align: right" title="Weighted- Average Grant Date Fair Value, Unvested at End of Period">36.85</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

69883

34.05

8572

11.20

61312

36.85

2300000

P0Y3M18D

2200000

96000

102000

NOTE 6. ACQUISITION OF EMERGEN ENERGY LLC On April 24, 2024 (the “Closing”), the Company acquired <span id="xdx_90B_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_dp_uPure_c20240424__us-gaap--BusinessAcquisitionAxis__custom--EmergenEnergyLLCMember__us-gaap--TypeOfArrangementAxis__custom--MembershipInterestPurchaseAgreementMember_zv3Lndj6N0H9" title="Voting interests acquired">100 % of the membership interests of Emergen Energy LLC (“Emergen”) pursuant to a Membership Interest Purchase Agreement dated April 14, 2024 (as amended on April 24, 2024, the “MIPA”). At Closing the Company issued <span id="xdx_90F_ecustom--StockIssuedDuringPeriodUnregisteredSharesNewIssues_pid_c20240424__20240424__us-gaap--BusinessAcquisitionAxis__custom--CAndCJohnsonHoldingsLLCMember__us-gaap--TypeOfArrangementAxis__custom--MembershipInterestPurchaseAgreementMember_zQsLT1axjphk" title="Number of unregistered common shares">1,587,300 unregistered shares of common stock to C & C Johnson Holdings LLC (an entity controlled by Cole Johnson) with a fair value of $<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodValueAcquisitions_pn5n6_c20240424__20240424__us-gaap--BusinessAcquisitionAxis__custom--CAndCJohnsonHoldingsLLCMember_zIPdHs1A1QO5" title="Transaction value">22.2 million (based on the $14.00 closing price on April 24, 2024). Emergen became a wholly-owned subsidiary; Mr. Johnson simultaneously became President of the Company’s BESS and Solar divisions and a director of the Company. Emergen, formed immediately prior to the transaction, held only early-stage renewable-energy development rights and no liabilities or operating activities. Accordingly, management concluded the transaction is an asset acquisition rather than a business combination. At acquisition, Emergen’s assets consisted of 1.965GW and 3.840GW of BESS and Solar Projects, respectively. Because the projects lacked substantive process or outputs, the Company recorded the entire $<span id="xdx_902_eus-gaap--IndefinitelivedIntangibleAssetsAcquired_pn5n6_c20240424__20240424__srt--ProductOrServiceAxis__custom--DevelopmentProjectsMember_zgLjqYrub5Y3" title="Indefinite-lived intangible assets purchase price">22.2 million purchase price as indefinite-lived intangible assets (“Development Projects”) and allocated the $<span id="xdx_909_eus-gaap--IndefinitelivedIntangibleAssetsAcquired_pn5n6_c20240424__20240424__srt--ProductOrServiceAxis__custom--SolarDevelopmentFeesMember_zCbzvhipnCwc" title="Indefinite-lived intangible assets purchase price">22.2 million purchase price to the BESS and Solar portfolios based on relative fair values determined from project-level discounted-cash-flow models corroborated by observable market pricing for comparable development assets. The Company allocated $20.0 million and $2.2 million to BESS and Solar Projects respectively as of the acquisition date. The following agreements were entered into on the date of Closing as provided for in the MIPA: On April 24, 2024 the Company and Emergen entered into a PMSA with Energy Independent Partners LLC (“EIP”), an entity controlled by Cole Johnson, under which EIP provides development, permitting, and financing-support services for each project. On April 24, 2025 the parties executed Amendment No. 2 to the PMSA, stated to be retroactively effective to June 28, 2024 and governed by Delaware law. Amendment 2 superseded Amendment 1 and eliminated the former Initial-Fee and RTB-Fee construct, replacing it with a single “Development-Fee” model that is payable only when a project secures third-party, project-specific financing. The principal commercial terms now in effect are: <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">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">BESS projects. For each battery-storage project, the Company will owe EIP a development fee of $<span id="xdx_907_eus-gaap--SharePrice_iI_pid_c20251231__us-gaap--TypeOfArrangementAxis__custom--ProjectManagementServicesAgreementMember__srt--ProductOrServiceAxis__custom--BESSDevelopmentFeesMember_zIV3J7kL6DA1" title="Share price">0.035 per watt once that specific project secures third-party debt and/or equity financing sufficient to fund the fee. Based on the current BESS portfolio capacity (approximately 1.965 GW), the aggregate exposure, if every project achieves financing, would be about $<span id="xdx_904_eus-gaap--PaymentsForFees_pn6n6_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ProjectManagementServicesAgreementMember__srt--ProductOrServiceAxis__custom--BESSDevelopmentFeesMember_zqemw9XEIQX6" title="Payment for fee">69 million.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Solar projects. For each solar-power project, the same rate—$<span id="xdx_905_eus-gaap--SharePrice_iI_pid_c20251231__us-gaap--TypeOfArrangementAxis__custom--ProjectManagementServicesAgreementMember__srt--ProductOrServiceAxis__custom--SolarDevelopmentFeesMember_zGnV73vR8SU7" title="Share price">0.035 per watt—applies, again only after project-specific financing is in place. Given the remaining solar capacity in the Emergen portfolio (roughly 1.640 GW), the maximum potential fees total approximately $<span id="xdx_90C_eus-gaap--PaymentsForFees_pn6n6_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ProjectManagementServicesAgreementMember__srt--ProductOrServiceAxis__custom--SolarDevelopmentFeesMember_zybjTMsmegt2" title="Payment for fee">57 million.</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">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Other renewable projects. For any future development projects that are neither BESS nor solar, the fee is the greater of (i) <span id="xdx_907_ecustom--PaymentsForFeesPercentage_pid_dp_uPure_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--ProjectManagementServicesAgreementMember__srt--ProductOrServiceAxis__custom--OtherRenewableProjectsMember_zlpkKat3bZpa" title="Payment for fee percentage">50 percent of gross margin or (ii) $<span id="xdx_903_eus-gaap--SharePrice_iI_pid_c20251231__us-gaap--TypeOfArrangementAxis__custom--ProjectManagementServicesAgreementMember__srt--ProductOrServiceAxis__custom--OtherRenewableProjectsMember_zAJ9DcuEOkX5" title="Share price">0.02 per watt, payable once the project reaches ready-to-build (RTB) status. Because the Company has no such projects in its pipeline today, no aggregate cap is presently estimable.</td></tr> </table> Based on portfolio capacities; actual fees depend on future financings and may not be incurred. <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">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Sale-of-Project Clause – If a project is sold, EIP is entitled to the greater of unpaid Development Fees or 62.5 % of net sale proceeds.</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">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Acceleration Clause – 62.5 % of unpaid fees accelerate within 90 days of (i) a change in control of the Company or (ii) removal of Mr. Johnson from his role.</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">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Termination & Indemnification – The PMSA may be terminated by mutual consent or for cause; customary indemnities apply.</td></tr> </table> Because payment is contingent on future project-financing milestones, no PMSA liabilities have been recognized as of December 31, 2025.

1587300

22200000

14.00

22200000

20000000.0 2200000

0.035

69000000

0.035

57000000

0.50

0.02

0.625 0.625 NOTE 7. SOLAR PROJECTS SALE On May 30, 2024, Emergen entered into a Project Sale Agreement (“PSA”) with Bridgelink Development, LLC (“Bridgelink”) covering <span id="xdx_900_ecustom--NumberOfGigawatt_iI_uGW_c20240530__us-gaap--TypeOfArrangementAxis__custom--ProjectManagementServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--BridgelinkMember_zlHxeAz5GFul" title="Number of gigawatt">2.425 GW of green-field solar projects (the “Greenfield Projects”). Bridgelink simultaneously resold the projects to an unrelated third-party purchaser (“Purchaser”). Total consideration payable to Emergen is $19.4 million, comprising: <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">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">a non-refundable deposit of $943,500 received in June 2024; 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"> </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">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">$18.5 million in milestone payments—$5,000 per MW upon securing necessary land rights and $3,000 per MW upon the project reaching ready-to-build (“RTB”) status. There is no specified timetable for milestone achievement.</td></tr> </table> The deposit is recorded as contract liability (deferred revenue). Revenue (and related cost) will be recognized at a point in time when the relevant milestones are achieved by the purchaser, which management expects within twelve months of year-end. No milestone revenue was recognized in 2024 and 2025 because the required conditions were not met. Under the Project Management Services Agreement (“PMSA”), <span id="xdx_90F_eus-gaap--BusinessAcquisitionDescriptionOfAcquiredEntity_c20240530__20240530__us-gaap--BusinessAcquisitionAxis__custom--EmergenMember__us-gaap--TypeOfArrangementAxis__custom--ProjectManagementServicesAgreementMember_ziLwzLed1bel">Emergen remits 62.5 % of amounts received to Energy Independent Partners LLC (“EIP”), an entity controlled by Cole Johnson, and retains 37.5 %. Accordingly, $<span id="xdx_900_eus-gaap--DepositAssets_iI_pn4n6_c20240530__us-gaap--BusinessAcquisitionAxis__custom--EmergenMember__us-gaap--TypeOfArrangementAxis__custom--ProjectManagementServicesAgreementMember_z2kJYOdir9qj" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">250,000 of the June 2024 deposit was paid to EIP and the remaining $<span id="xdx_90D_ecustom--DepositAssetsRemainingDeferred_iI_c20240530__us-gaap--BusinessAcquisitionAxis__custom--EmergenMember__us-gaap--TypeOfArrangementAxis__custom--ProjectManagementServicesAgreementMember_zHGUrytWaQy5" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Deposit assets remaining deferred">339,688 remains deferred and recorded as accounts payable and accrued liabilities – related parties. Additional EIP payments will be recorded only when Bridgelink remits milestone proceeds. Bridgelink may return a project, without refund, only if no milestone payment has yet been made and the return occurs within seven years of the PSA’s effective date. A December 31, 2024 amendment clarified that all funds paid to Emergen are non-refundable and limited the return option as noted above; all other material terms remain unchanged. 2.425 19400000

943500

18500000 5000 3000

Emergen remits 62.5 % of amounts received to Energy Independent Partners LLC (“EIP”), an entity controlled by Cole Johnson, and retains 37.5 %.

250000000000

339688

NOTE 8. RELYEZ JOINT VENTURE On April 20, 2025, the Company’s wholly owned subsidiary, Emergen Energy, LLC, entered into a definitive agreement with RelyEZ Energy Group to form GridSpan Energy LLC for the development, construction, and operation of utility-scale battery energy storage projects in the United States. Under the arrangement, each accepted project special purpose vehicle entity (“SPV”) is expected to be owned 80% by RelyEZ and 20% by Emergen until project refinancing. Following refinancing, the Company may repurchase RelyEZ’s interest at cost plus a stated annual return in accordance with the governing agreements. RelyEZ funded $<span id="xdx_90E_eus-gaap--PaymentsToAcquireInterestInJointVenture_pn5n6_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelyEZMember_zvz6mDBmNkG7" title="Funded into joint venture">10.0 million into the joint venture during 2025. As of December 31, 2025, the Company had not contributed capital to the joint venture and no capital call was issued or due from the Company. Management evaluated the joint venture under ASC 810 and determined that GridSpan Energy LLC is a variable interest entity (“VIE”) and that the Company is not the primary beneficiary. Accordingly, the joint venture is not consolidated in the accompanying consolidated financial statements. As of December 31, 2025, the carrying amount of the Company’s recognized interests related to the joint venture was $0. The Company’s maximum exposure to loss related to the joint venture primarily consists of its contractual capital commitment of up to $12.5 million, which becomes callable on a 10% pro rata basis after RelyEZ’s initial $<span id="xdx_900_eus-gaap--PaymentsToAcquireInterestInJointVenture_pn5n6_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelyEZMember__us-gaap--TypeOfArrangementAxis__custom--GoverningAgreementsMember_zyBcLoirhAgj" title="Funded into joint venture">10.0 million funding, together with any other contractual commitments expressly described in the governing agreements. The Company did not provide financial support to the joint venture during 2025 beyond the commitments described above.

Under the arrangement, each accepted project special purpose vehicle entity (“SPV”) is expected to be owned 80% by RelyEZ and 20% by Emergen until project refinancing.

10000000.0

12500000

10000000.0

<p id="xdx_80C_eus-gaap--RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlock_zXGMF6Z1O2S4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">NOTE 9. GRIDSPAN PROJECT CONVEYANCE AGREEMENT During 2025, Emergen entered into project company purchase and transfer arrangements with GridSpan covering specified battery energy storage projects. Under those arrangements, the Company received $<span id="xdx_907_eus-gaap--ProceedsFromRelatedPartyDebt_pn3n6_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--GridSpanEnergyLLCMember_zjdLALa4MLYd" title="Advance payment received from related party">3.564 million from GridSpan as an advance payment related to future project conveyance and development obligations. As of December 31, 2025, no project had reached notice to proceed (“NTP”), and no title to any project or project company membership interests had transferred to GridSpan. Accordingly, the amount received from GridSpan remained deferred as of year-end and no revenue or gain was recognized in the accompanying consolidated financial statements. In connection with the GridSpan arrangement, the Company entered into a Cession and Delegation Agreement and a related Parent Company Guarantee intended to provide GridSpan and RelyEZ with additional contractual enforcement and performance support. Management concluded that these arrangements did not result in a transfer of project ownership as of December 31, 2025. The GridSpan arrangement includes a contingent refund obligation if specified conditions are not met, including certain financing and project milestone conditions by June 30, 2026. Management evaluated this contingency under ASC 450 and concluded that the likelihood of loss was remote as of December 31, 2025; accordingly, no liability was accrued.

3564000

NOTE 10. PROJECT RIGHTS AND LONG-LEAD EQUIPMENT DEPOSITS During 2025, Emergen entered into arrangements with Aggreko and related counterparties in connection with specified battery energy storage projects. Under an executed amendment dated December 31, 2025, Emergen paid $1.678 million related to two project companies, Aggreko MSR Grid PC21 LLC and Aggreko MSR Grid PC36 LLC. As of December 31, 2025, Emergen remained the 100% owner of those project companies and no onward transfer of project title or project company membership interests had occurred. Accordingly, the amount paid was recognized as an intangible asset in the consolidated financial statements. During 2025, Emergen also paid $1.886 million in connection with long-lead equipment procurement. As of December 31, 2025, Emergen was the purchaser of record and held the associated deposit and refund rights under the relevant procurement arrangements. Accordingly, the amount was recognized as a vendor deposit as of year-end. The Company expects such rights to be assigned in the future only if the applicable project milestones are achieved.

1678000

1886000

NOTE 11. RELATED PARTY TRANSACTIONS All transactions described in Notes to Consolidated Financial Statements 6 and 7 were transacted with a now related party, Cole Johnson, President and Director, as of the April 24, 2024 acquisition of Emergen Energy, LLC. All negotiations related to these transactions were prior to Cole Johnson being a related party to Bimergen. During the year ended December 31, 2025, the Company issued sixteen unsecured promissory notes, aggregating $<span id="xdx_90B_eus-gaap--ShortTermBorrowings_iI_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__srt--TitleOfIndividualAxis__custom--ColeJohnsonMember_znmt5uLX4r7c" title="Unsecured promissory notes amount">825,700, to EIP, an entity controlled by president and director Cole Johnson. The notes were executed per the schedule below: Promissory Notes Executed: SCHEDULE OF PROMISSORY NOTES EXECUTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 50%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">March 3, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--MarchThreeTwoThousandTwentyFiveMember_zttrvwtrHV9d" style="width: 20%; text-align: right" title="Promissory Notes">60,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">March 28, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--MarchTwentyEightTwoThousandTwentyFiveMember_zLnwmH4JhwE3" style="text-align: right" title="Promissory Notes">75,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">April 22, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--AprilTwentyTwoTwoThousandTwentyFiveMember_zZTRa0Qo20a6" style="text-align: right" title="Promissory Notes">25,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">April 30, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--AprilThirtyTwoThousandTwentyFiveMember_zwSgsmVQW6p3" style="text-align: right" title="Promissory Notes">75,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">May 20, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--MayTwentyTwoThousandTwentyFiveMember_zfByB3KSaF8g" style="text-align: right" title="Promissory Notes">25,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">May 30, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--MayThirtyTwoThousandTwentyFiveMember_zaQwyXnCNZ3l" style="text-align: right" title="Promissory Notes">77,300</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">June 9, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--JuneNineTwoThousandTwentyFiveMember_zWZvPHhWDZ99" style="text-align: right" title="Promissory Notes">28,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">June 30, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--JuneThirtyTwoThousandTwentyFiveMember_zbsPdwwjNez" style="text-align: right" title="Promissory Notes">50,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">July 17, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--JulySeventeenTwoThousandTwentyFiveMember_zGjpjXjlLE8g" style="text-align: right" title="Promissory Notes">100,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">July 31, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--JulyThirtyOneTwoThousandTwentyFiveMember_zHs7hca5S05i" style="text-align: right" title="Promissory Notes">50,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">August 8, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--AugustEightTwoThousandTwentyFiveMember_zZltkfvPBo7b" style="text-align: right" title="Promissory Notes">25,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">August 18, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--AugustEighteenTwoThousandTwentyFiveMember_zlJ7DsbACSgf" style="text-align: right" title="Promissory Notes">25,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">August 19, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--AugustNineteenTwoThousandTwentyFiveMember_zkkbEZUHdzTh" style="text-align: right" title="Promissory Notes">15,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">August 25, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--AugustTwentyFiveTwoThousandTwentyFiveMember_zkIR8SBCfAZ3" style="text-align: right" title="Promissory Notes">100,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">September 24, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--SeptemberTwentyFourTwoThousandTwentyFiveMember_zqcPHxZIqUpb" style="text-align: right" title="Promissory Notes">24,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">September 30, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_981_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--SeptemberThirtyTwoThousandTwentyFiveMember_zhq7ivL4yRr2" style="border-bottom: Black 1pt solid; text-align: right" title="Promissory Notes">71,400</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember_zZUdARVPx9l7" style="border-bottom: Black 2.5pt double; text-align: right" title="Promissory Notes">825,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The notes bear simple interest at 9.5 percent per annum, mature on March 31, 2026, are pre-payable without penalty, and were used to fund working-capital for operating expenses.  Accrued interest at December, 2025 was approximately $40,600. The promissory notes were repaid with interest subsequent to year end (see Note 15).

825700

SCHEDULE OF PROMISSORY NOTES EXECUTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 50%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">March 3, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--MarchThreeTwoThousandTwentyFiveMember_zttrvwtrHV9d" style="width: 20%; text-align: right" title="Promissory Notes">60,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">March 28, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--MarchTwentyEightTwoThousandTwentyFiveMember_zLnwmH4JhwE3" style="text-align: right" title="Promissory Notes">75,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">April 22, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--AprilTwentyTwoTwoThousandTwentyFiveMember_zZTRa0Qo20a6" style="text-align: right" title="Promissory Notes">25,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">April 30, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--AprilThirtyTwoThousandTwentyFiveMember_zwSgsmVQW6p3" style="text-align: right" title="Promissory Notes">75,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">May 20, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--MayTwentyTwoThousandTwentyFiveMember_zfByB3KSaF8g" style="text-align: right" title="Promissory Notes">25,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">May 30, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--MayThirtyTwoThousandTwentyFiveMember_zaQwyXnCNZ3l" style="text-align: right" title="Promissory Notes">77,300</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">June 9, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--JuneNineTwoThousandTwentyFiveMember_zWZvPHhWDZ99" style="text-align: right" title="Promissory Notes">28,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">June 30, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--JuneThirtyTwoThousandTwentyFiveMember_zbsPdwwjNez" style="text-align: right" title="Promissory Notes">50,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">July 17, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--JulySeventeenTwoThousandTwentyFiveMember_zGjpjXjlLE8g" style="text-align: right" title="Promissory Notes">100,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">July 31, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--JulyThirtyOneTwoThousandTwentyFiveMember_zHs7hca5S05i" style="text-align: right" title="Promissory Notes">50,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">August 8, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--AugustEightTwoThousandTwentyFiveMember_zZltkfvPBo7b" style="text-align: right" title="Promissory Notes">25,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">August 18, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--AugustEighteenTwoThousandTwentyFiveMember_zlJ7DsbACSgf" style="text-align: right" title="Promissory Notes">25,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">August 19, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--AugustNineteenTwoThousandTwentyFiveMember_zkkbEZUHdzTh" style="text-align: right" title="Promissory Notes">15,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">August 25, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--AugustTwentyFiveTwoThousandTwentyFiveMember_zkIR8SBCfAZ3" style="text-align: right" title="Promissory Notes">100,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">September 24, 2025</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--SeptemberTwentyFourTwoThousandTwentyFiveMember_zqcPHxZIqUpb" style="text-align: right" title="Promissory Notes">24,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">September 30, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_981_eus-gaap--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember__us-gaap--AwardDateAxis__custom--SeptemberThirtyTwoThousandTwentyFiveMember_zhq7ivL4yRr2" style="border-bottom: Black 1pt solid; text-align: right" title="Promissory Notes">71,400</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: justify; padding-bottom: 2.5pt"> </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--UnsecuredDebtCurrent_iI_c20251231__us-gaap--ShortTermDebtTypeAxis__custom--UnsecuredPromissoryNotesMember_zZUdARVPx9l7" style="border-bottom: Black 2.5pt double; text-align: right" title="Promissory Notes">825,700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

60000

75000

25000

75000

25000

77300

28000

50000

100000

50000

25000

15000

100000

24000

71400

825700

0.095

2026-03-31

40600

NOTE 12 INCOME TAX U.S. Federal Corporate Income Tax The Company’s effective income tax rate differs from the amount computed by applying the federal statutory income tax rate to loss before income taxes as follows: SCHEDULE OF RECONCILIATION OF STATUTORY INCOME TAX RATES AND EFFECTIVE 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> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20251231_zboOs3PFamag" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20241231_zCq0J29cOpM5" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_iN_pid_dpi_uPure_maABCD_zQPpzxYVVAvb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Income tax benefit at federal statutory rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(21.0</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">(21.0</td><td style="width: 1%; text-align: left">)%</td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_iN_pid_dpi_uPure_maABCD_zrADERDBLb59" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State income tax benefit, net of federal benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8.8</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8.8</td><td style="text-align: left">)%</td></tr> <tr id="xdx_407_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_iN_pid_dpi_uPure_maABCD_zu3n5AtPfUlf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29.8</td><td style="text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtABCD_zS2u6flhfPq5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income taxes at effective rate</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> </table> Temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities and tax credit and operating loss carryforward that create deferred tax assets and liabilities are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231_z93HUDn2riSj" 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_49C_20241231_zUXmHR2CobV4" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTALNzmO8_zorBW2o4hM5a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Tax Operating Loss Carryforward - USA</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,432,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">835,520</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsOther_iI_maDTALNzmO8_zd2S8u75c8Ji" style="vertical-align: bottom; background-color: White"> <td>Other</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_40B_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTALNzmO8_zkUeU0K6gosf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Valuation Allowance - USA</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">(1,432,000</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">(835,520</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_mtDTALNzmO8_zYAvc5B4HeCg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Deferred Tax Assets, Net</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> A valuation allowance is required to be established when it is more likely than not that all or a portion of a deferred tax asset will not be realized. Realization of deferred tax assets is dependent upon future earnings, the timing and amount of which are uncertain. The Company has reviewed its positive and negative evidence and has concluded that it is more likely than not that the net deferred tax assets will not be realized due to the cumulative losses incurred since inception; therefore, the Company continues to maintain a valuation allowance. The valuation allowance increased by $0.6 million and $0.8 million during the years ended December 31, 2025 and 2024, respectively. The Company’s valuation allowance includes both federal and state deferred tax assets, including California net operating loss carryforwards, because management concluded that sufficient positive evidence does not exist to support realization of those attributes as of December 31, 2025. Pursuant to the Internal Revenue Code of 1986, as amended (“IRC”), specifically Sections 382 and 383, the Company’s ability to use tax attribute carryforwards to offset future taxable income is limited if the Company experiences a cumulative change in ownership of more than 50% within a three-year testing period. The Company has not completed an ownership change analysis pursuant to IRC Section 382 therefore the ability to offset taxable income in the future may be impacted by ownership changes occurring prior to December 31, 2025. If ownership changes within the meaning of IRC Section 382 occur in the future, the amount of remaining tax attribute carryforwards available to offset future taxable income and income tax expense in future years may be significantly restricted or eliminated. Further, the Company’s deferred tax assets associated with such tax attributes could be significantly reduced or eliminated upon realization of an ownership change within the meaning of IRC Section 382. If eliminated, the related asset would be removed from the deferred tax asset schedule, with a corresponding reduction in the valuation allowance. Additionally, limitations on the utilization of the Company’s tax attribute carryforwards can increase the amount of taxable income and current income tax expense recognized. Due to the existence of the valuation allowance, ownership change limitations that are not significant may not impact the Company’s effective tax rate. As of December 31, 2025, the Company had U.S. federal net operating loss carryforwards for income tax purposes of approximately $4.8 million. In general, U.S. federal net operating losses arising in taxable years beginning after December 31, 2020 may be carried forward indefinitely, subject to applicable utilization limitations, including the 80% of taxable income limitation and any limitations imposed by IRC Sections 382 and 383. As of December 31, 2025, the Company also had state net operating loss carryforwards for income tax purposes of approximately $4.8 million, substantially all of which relate to California. State net operating loss carryforwards are subject to jurisdiction-specific carryforward, utilization, and suspension rules. For California, the net operating loss deduction is suspended for certain taxpayers for taxable years 2024 through 2026, and the carryover period for suspended losses is extended. Subsequent to the issuance of the Company’s previously issued consolidated financial statements, management identified an error in the presentation of the deferred tax asset disclosure related to net operating loss carryforwards. Specifically, the deferred tax asset inventory was presented using gross net operating loss carryforward amounts rather than tax-effected deferred tax asset amounts. As a result, the deferred tax asset table did not appropriately reflect deferred tax assets measured using the applicable enacted tax rates. Accordingly, the Company revised the deferred tax asset disclosure to present deferred tax assets related to net operating loss carryforwards on a tax-effected basis. This revision affected only the presentation of the deferred tax footnote disclosure and did not impact the Company’s previously reported net loss, total assets, total liabilities, stockholders’ equity, or cash flows for any period presented, as the Company maintained a full valuation allowance against its net deferred tax assets in all periods presented. Management concluded that the revision was not material to any previously issued financial statements and, therefore, revised the prior-period disclosure in these consolidated financial statements.

The Company’s effective income tax rate differs from the amount computed by applying the federal statutory income tax rate to loss before income taxes as follows: SCHEDULE OF RECONCILIATION OF STATUTORY INCOME TAX RATES AND EFFECTIVE 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> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20251231_zboOs3PFamag" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20241231_zCq0J29cOpM5" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_iN_pid_dpi_uPure_maABCD_zQPpzxYVVAvb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Income tax benefit at federal statutory rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(21.0</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">(21.0</td><td style="width: 1%; text-align: left">)%</td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_iN_pid_dpi_uPure_maABCD_zrADERDBLb59" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State income tax benefit, net of federal benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8.8</td><td style="text-align: left">)%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8.8</td><td style="text-align: left">)%</td></tr> <tr id="xdx_407_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_iN_pid_dpi_uPure_maABCD_zu3n5AtPfUlf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29.8</td><td style="text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtABCD_zS2u6flhfPq5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income taxes at effective rate</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> </table>

0.210

0.088

-0.298

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231_z93HUDn2riSj" 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_49C_20241231_zUXmHR2CobV4" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTALNzmO8_zorBW2o4hM5a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Tax Operating Loss Carryforward - USA</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,432,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">835,520</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsOther_iI_maDTALNzmO8_zd2S8u75c8Ji" style="vertical-align: bottom; background-color: White"> <td>Other</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_40B_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTALNzmO8_zkUeU0K6gosf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Valuation Allowance - USA</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">(1,432,000</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">(835,520</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_mtDTALNzmO8_zYAvc5B4HeCg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Deferred Tax Assets, Net</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>

1432000

835520

1432000

835520

600000

800000

4800000

NOTE 13 SEGMENT INFORMATION The Company operates and manages its business as one reportable operating segment. The Company’s CODM, the Chief Executive Officer, reviews internal financial information presented and decides how to allocate resources based on net income (loss). Net income (loss) is used for evaluating financial performance. Significant segment expenses include salaries and payroll, legal fees, stock based compensation, audit costs, contract services, rent, and other administrative expenses. The measurement of segment assets is reported on the consolidated balance sheets as total assets. The following table presents the significant segment expenses and other segment items regularly reviewed by our CODM. SIGNIFICANT OF SEGMENT EXPENSES AND OTHER SEGMENT ITEMS <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_497_20250101__20251231_zgzsz3zVGxB6" style="border-bottom: Black 1pt solid; text-align: center">For the Year Ended December 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20241231_zHCMLuN8ASel" style="border-bottom: Black 1pt solid; text-align: center">For the Year Ended December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zrJCOKc2vdgk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Revenues</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_408_eus-gaap--CostOfRevenue_zxCwkGlJJRa5" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Cost of Goods Sold</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_406_eus-gaap--GrossProfit_iT_zwPvRBn1L0Jk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Gross Profit</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 style="vertical-align: bottom; background-color: White"> <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_401_eus-gaap--OperatingExpensesAbstract_iB_zQikyitzKBv5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Operating Expenses</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--SalariesAndPayrollExpenses_zU6FpJoAdVmf" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Salaries and Payroll Expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">730,000</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">459,580</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LegalFees_z3zhGwqHm0ma" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Legal Fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">185,374</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">278,248</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ShareBasedCompensation_i01_zJYNFASbZxrf" style="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">2,285,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,246,182</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--AuditCosts_zMNg6icdVmXd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Audit Costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">199,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48,730</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--ContractServices_z46yjgp29sCa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contract Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">512,205</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">401,166</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--Rent_zTQf5IlNscm2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Rent</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,100</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,261</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--OtherOperatingExpenses_zBYjFkUyPke7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other operating expenses</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">806,175</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">305,564</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingExpenses_i01T_zzn6SMUSh38l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total Operating Expenses</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">4,928,861</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">2,758,731</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingIncomeLoss_i01T_zRQWhhrKMXel" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Loss (Income) from Operations</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">(4,928,861</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">(2,758,731</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--NonoperatingIncomeExpense_i01_zDGwE4cKf2q9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Interest Income and Other (Expenses), net</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">(44,561</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">1,044</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_zvb67UwTpT42" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Net loss before Income Tax</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(4,973,422</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,757,687</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table>

Significant segment expenses include salaries and payroll, legal fees, stock based compensation, audit costs, contract services, rent, and other administrative expenses. The measurement of segment assets is reported on the consolidated balance sheets as total assets. The following table presents the significant segment expenses and other segment items regularly reviewed by our CODM. SIGNIFICANT OF SEGMENT EXPENSES AND OTHER SEGMENT ITEMS <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_497_20250101__20251231_zgzsz3zVGxB6" style="border-bottom: Black 1pt solid; text-align: center">For the Year Ended December 31, 2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20241231_zHCMLuN8ASel" style="border-bottom: Black 1pt solid; text-align: center">For the Year Ended December 31, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zrJCOKc2vdgk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Revenues</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_408_eus-gaap--CostOfRevenue_zxCwkGlJJRa5" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Cost of Goods Sold</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_406_eus-gaap--GrossProfit_iT_zwPvRBn1L0Jk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Gross Profit</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 style="vertical-align: bottom; background-color: White"> <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_401_eus-gaap--OperatingExpensesAbstract_iB_zQikyitzKBv5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Operating Expenses</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--SalariesAndPayrollExpenses_zU6FpJoAdVmf" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Salaries and Payroll Expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">730,000</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">459,580</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LegalFees_z3zhGwqHm0ma" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Legal Fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">185,374</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">278,248</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ShareBasedCompensation_i01_zJYNFASbZxrf" style="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">2,285,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,246,182</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--AuditCosts_zMNg6icdVmXd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Audit Costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">199,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48,730</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--ContractServices_z46yjgp29sCa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contract Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">512,205</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">401,166</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--Rent_zTQf5IlNscm2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Rent</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,100</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,261</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--OtherOperatingExpenses_zBYjFkUyPke7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other operating expenses</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">806,175</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">305,564</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingExpenses_i01T_zzn6SMUSh38l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Total Operating Expenses</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">4,928,861</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">2,758,731</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingIncomeLoss_i01T_zRQWhhrKMXel" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Loss (Income) from Operations</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">(4,928,861</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">(2,758,731</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--NonoperatingIncomeExpense_i01_zDGwE4cKf2q9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Interest Income and Other (Expenses), net</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">(44,561</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">1,044</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_zvb67UwTpT42" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Net loss before Income Tax</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(4,973,422</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,757,687</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table>

730000 459580

185374

278248

2285000

1246182

199000 48730 512205 401166 20100 19261 806175 305564

4928861

2758731

-4928861

-2758731

-44561

1044

-4973422

-2757687

NOTE 14 COMMITMENTS AND CONTINGENCIES The Company is subject to various claims, legal actions, and regulatory proceedings arising in the ordinary course of business. In the opinion of management, after consultation with legal counsel, the ultimate resolution of these matters is not expected to have a material adverse effect on the Company’s financial position, results of operations, or cash flows.

NOTE 15. SUBSEQUENT EVENTS Underwritten Public Offering On February 23, 2026, the Company closed an underwritten public offering of <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20260223__20260223__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_ztDvQXFTPuS9" title="Underwritten public offering of common stock shares">3,100,000 shares of common stock, <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20260223__20260223__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zO9cFUI6Kkz6" title="Underwritten public offering of common stock shares">300,000 pre-funded warrants, and <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20260223__20260223__us-gaap--StatementEquityComponentsAxis__custom--AccompanyingWarrantsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zJ1Lc82VLhG5" title="Underwritten public offering of common stock shares">3,600,000 accompanying warrants, including the partial exercise of the underwriter’s over-allotment option for <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20260223__20260223__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zLXU33nZ4F53" title="Underwritten public offering of common stock shares">200,000 additional warrants. Gross proceeds from the offering were approximately $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pn5n6_c20260223__20260223__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zxYaUdl0m8Xl" title="Gross proceeds from offering">13.6 million, before deducting underwriting discounts, commissions, and other offering expenses. The accompanying warrants are exercisable immediately at an exercise price of $5.00 per share and expire five years from issuance. The pre-funded warrants are exercisable immediately at an exercise price of $<span id="xdx_90E_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20260223__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zuaDiuKr5UU9" title="Exercise price per share">0.0001 per share and do not expire. The Company intends to use the net proceeds for BESS project asset development, development of BESS projects, and working capital

3100000

300000

3600000

200000

13600000

5.00

0.0001

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