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id="xdx_80E_eus-gaap--NatureOfOperations_zoDZmcZDsDi7" style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span></td> <td style="width: 95%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82A_zFfGQ3yZ8SGc">NATURE OF OPERATIONS</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Atomera Incorporated (“Atomera” or the “Company”) was incorporated in the state of Delaware in March 2007 under the name MEARS Technologies, Inc. and is engaged in the development, commercialization and licensing of proprietary processes and technologies for the semiconductor industry. On January 12, 2016, the Company changed its name to Atomera Incorporated.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Atomera is an early-stage company, having only limited revenue-generating activities, and is devoting substantially all its efforts toward technology research and development and to commercially licensing its technology to designers and manufacturers of integrated circuits.</p> <p id="xdx_802_eus-gaap--SubstantialDoubtAboutGoingConcernTextBlock_zDpJwGuJLv36" style="font: 10pt Times New Roman, Times, Serif; margin: 0">  </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="width: 95%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82A_zZpnaLKcfUAh">LIQUIDITY AND MANAGEMENT PLANS</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">At March 31, 2026, the Company had cash, cash equivalents and short-term investments of approximately $<span id="xdx_90F_eus-gaap--CashCashEquivalentsAndShortTermInvestments_iI_pn5n6_c20260331_zyp7gp7t8D8e" title="Cash, cash equivalents and short-term investments">41.1</span> million and working capital of approximately $<span id="xdx_90E_ecustom--WorkingCapital_iI_pn5n6_c20260331_zRyjYQIoqwhi" title="Working capital">39.9</span> million. The Company has generated only limited revenues since inception and has incurred recurring operating losses. Accordingly, it is subject to all the risks inherent in the initial organization, financing, expenditures, and scaling of a new business that is not generating positive cashflow.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On May 31, 2022, Atomera entered into an Equity Distribution Agreement with Oppenheimer &amp; Co. Inc. and Craig-Hallum Capital Group LLC (“Craig-Hallum”), as agents, under which the Company offered and sold, from time to time at its sole discretion, shares of its $0.001 par value common stock in an at the market offering to or through the agents, having aggregate offering proceeds of approximately $44.8 million (the “2022 ATM”). The 2022 ATM Facility expired on March 18, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On May 27, 2025, Atomera entered into an Equity Distribution Agreement with Craig-Hallum as agent, under which the Company may offer and sell, from time to time at its sole discretion, shares of its $<span id="xdx_909_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pip0_c20260331__us-gaap--SubsidiarySaleOfStockAxis__custom--EquityDistributionAgreementMember_zVwyUo67mAk8" title="Common stock, par value">0.001</span> par value common stock in an at-the-market offering to or through the agent, having aggregate offering proceeds of up to $50.0 million (the “2025 ATM”). During the three months ended March 31, 2026, the Company sold approximately <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pn5n6_c20260101__20260331__us-gaap--SubsidiarySaleOfStockAxis__custom--EquityDistributionAgreementMember_zTh4p2s6aFX" title="Stock issued new, shares">1.3</span> million shares of common stock pursuant to 2025 ATM at an average price per share of approximately $<span id="xdx_90C_ecustom--SaleOfStockPricePerShare1_pip0_c20260101__20260331__us-gaap--SubsidiarySaleOfStockAxis__custom--EquityDistributionAgreementMember_zLyw4VgukDfd" title="Average price per share">2.47</span> resulting in approximately $<span id="xdx_901_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20260101__20260331__us-gaap--SubsidiarySaleOfStockAxis__custom--EquityDistributionAgreementMember_zuzgeCRVxOq" title="Proceeds from sale of stock, value">3.1</span> million in net proceeds to the Company after deducting commissions and other offering expenses.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On February 24, 2026, the Company completed a registered direct offering (the “Offering”) of <span id="xdx_90D_eus-gaap--SharesIssued_iI_c20260224__us-gaap--TransactionTypeAxis__custom--SecuritiesPurchaseAgreementMember_zY7tCleugvKa" title="Shares issued">5,000,000</span> shares of its $<span id="xdx_908_eus-gaap--SharePrice_iI_pip0_c20260224__us-gaap--TransactionTypeAxis__custom--SecuritiesPurchaseAgreementMember_zMCpE8cnriCa" title="Share price">0.001</span> par value common stock at a purchase price of $<span id="xdx_908_ecustom--PurchasePrice_iI_pip0_c20260224__us-gaap--TransactionTypeAxis__custom--SecuritiesPurchaseAgreementMember_zohl2oxZ5EH6" title="Purchase price">5.00</span> per share pursuant to a Securities Purchase Agreement (the “Purchase Agreement”) with certain institutional investors. In connection with the Offering, the Company entered into a placement agent agreement with Craig-Hallum, pursuant to which Craig-Hallum served as the exclusive placement agent for the issuance and sale of securities of the Company pursuant to the Purchase Agreement. As compensation for such placement agent services, the Company paid Craig-Hallum an aggregate cash fee equal to 5.0% of the gross proceeds received by the Company from the Offering and agreed to reimburse up to $<span id="xdx_906_eus-gaap--LegalFees_pp0p0_c20260223__20260224__us-gaap--TransactionTypeAxis__custom--SecuritiesPurchaseAgreementMember_z2iUptRpKPei" title="Legal and other expenses">75,000</span> of legal and other expenses actually incurred. Net proceeds to the Company after deducting the placement agent fee and expenses were approximately $<span id="xdx_909_eus-gaap--ProceedsFromFeesReceived_pn5n6_c20260101__20260331__us-gaap--TransactionTypeAxis__custom--SecuritiesPurchaseAgreementMember_zt0FL79LUbK3" title="Proceeds from fees received">23.6</span> million.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Based on the funds it has available as of the date of the filing of this report, the Company believes that it has sufficient capital to fund its current business plans and obligations over, at least, 24 months from the date that these financial statements have been issued. The Company’s future capital requirements and the adequacy of its available funds will depend on many factors, including the Company’s ability to successfully commercialize its technology, competing technological and market developments, and the need to enter into collaborations with other companies or acquire technologies to enhance or complement its current offerings. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> 41100000 39900000 0.001 1300000 2.47 3100000 5000000 0.001 5.00 75000 23600000 <p id="xdx_802_eus-gaap--SignificantAccountingPoliciesTextBlock_z5xqGWptjHVh" style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3.</b></span></td> <td style="width: 95%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82A_znE6eU7tnfGl">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_84E_ecustom--SignificantAccountingPoliciesPolicyTextBlock_zNzSHHwPwpbf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span id="xdx_869_zcngbic8EvF3">Significant Accounting Policies</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">There have been no material changes in the Company’s significant accounting policies to those previously disclosed in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 24, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p id="xdx_84D_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zPBFFDB0ccX7" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i><span id="xdx_867_zzTB6z9KOxOa">Basis of Presentation of Unaudited Condensed Financial Information</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The unaudited condensed financial statements of the Company for the three months ended March 31, 2026 and 2025 have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. However, such information reflects all adjustments (consisting solely of normal recurring adjustments) which are, in the opinion of management, necessary for the fair presentation of the Company’s financial position and its results of operations. Results shown for interim periods are not necessarily indicative of the results to be obtained for a full fiscal year. The balance sheet information as of December 31, 2025 was derived from the audited financial statements included in the Company’s financial statements as of and for the year ended December 31, 2025, included in the Company’s Annual Report on Form 10-K filed with the SEC on February 24, 2026. These unaudited condensed financial statements should be read in conjunction with that report.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_84E_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_z8qTzoaS8Bme" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span id="xdx_867_z6redCeCbdd5">Cash, Cash Equivalents, and Short-Term Investments</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company considers all highly-liquid investments with an original maturity of three months or less, when purchased, to be cash equivalents. Cash equivalents may be invested in money market funds, treasury bills or U.S. government agency bonds. Cash and cash equivalents are carried at cost, which approximates their fair value.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company may also purchase short-term investments comprised of U.S. treasury bills and U.S. government agency bonds with maturities of more than three months, but less than one year. The Company classifies these as available-for-sale at their purchase date and will reevaluate such designation at each period end date. The Company may sell these marketable debt securities prior to their stated maturities depending upon changing liquidity requirements. These debt securities are classified as current assets in the condensed balance sheets and recorded at fair value, with unrealized gains or losses included in accumulated other comprehensive income (loss).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Gains and losses are recognized when realized. Gains and losses are determined using the specific identification method and are reported in other income, net in the condensed statements of operations when incurred. Unrealized gains and losses are included in other comprehensive income (loss) on the condensed balance sheets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i> </i></p> <p id="xdx_84B_ecustom--RecentAccountingStandardsPolicyTextBlock_zbhk3ddb5Vo6" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i><span id="xdx_86C_zsRDxJzFLma2">Recent Accounting Standards</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03 (as clarified by ASU 2025-01 in January 2025), <i>Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses</i>) (“ASU 2023-03”), requiring public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and for interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company does not believe ASU 2024-03 will have a material impact on its financial position, results of operations or financial statement disclosure.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In May 2025, the FASB issued ASU 2025-04<i> Compensation - Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Clarifications to Share-Based Consideration Payable to a Customer</i> which clarifies the guidance on the accounting for share-based payment awards that are granted by an entity as consideration payable to its customer, with the intent to reduce diversity in practice and improve existing guidance by revising the definition of a “performance condition” and eliminating a forfeiture policy election for service conditions associated with share-based consideration payable to a customer. It also clarifies the guidance in Topic 606 on the variable consideration constraint does not apply to share-based consideration payable to a customer “regardless of whether an award’s grant date has occurred”. ASU 2025-04 will be effective for the annual periods beginning after December 15, 2026 with early adoption permitted. The Company does not believe ASU 2025-04 will have a material impact on its financial position, results of operations or financial statement disclosure.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In September 2025, the FASB issued ASU 2025-06 <i>Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. </i>The amendments require that an entity capitalize software costs when both: management has authorized and committed to funding the software project; and it is probable that the project will be completed and the software will be used to perform the function intended (referred to as the “probable-to-complete recognition threshold”). In evaluating the probable-to-complete recognition threshold, an entity is required to consider whether there is significant uncertainty associated with the development activities of the software. ASU 2025-06 will be effective for the annual periods beginning after December 15, 2027. The Company does not believe ASU 2025-06 will have a material impact on its financial position, results of operations or financial statement disclosure.</p> <p id="xdx_84E_ecustom--SignificantAccountingPoliciesPolicyTextBlock_zNzSHHwPwpbf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span id="xdx_869_zcngbic8EvF3">Significant Accounting Policies</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">There have been no material changes in the Company’s significant accounting policies to those previously disclosed in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 24, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p id="xdx_84D_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zPBFFDB0ccX7" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i><span id="xdx_867_zzTB6z9KOxOa">Basis of Presentation of Unaudited Condensed Financial Information</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The unaudited condensed financial statements of the Company for the three months ended March 31, 2026 and 2025 have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. However, such information reflects all adjustments (consisting solely of normal recurring adjustments) which are, in the opinion of management, necessary for the fair presentation of the Company’s financial position and its results of operations. Results shown for interim periods are not necessarily indicative of the results to be obtained for a full fiscal year. The balance sheet information as of December 31, 2025 was derived from the audited financial statements included in the Company’s financial statements as of and for the year ended December 31, 2025, included in the Company’s Annual Report on Form 10-K filed with the SEC on February 24, 2026. These unaudited condensed financial statements should be read in conjunction with that report.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_84E_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_z8qTzoaS8Bme" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span id="xdx_867_z6redCeCbdd5">Cash, Cash Equivalents, and Short-Term Investments</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company considers all highly-liquid investments with an original maturity of three months or less, when purchased, to be cash equivalents. Cash equivalents may be invested in money market funds, treasury bills or U.S. government agency bonds. Cash and cash equivalents are carried at cost, which approximates their fair value.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company may also purchase short-term investments comprised of U.S. treasury bills and U.S. government agency bonds with maturities of more than three months, but less than one year. The Company classifies these as available-for-sale at their purchase date and will reevaluate such designation at each period end date. The Company may sell these marketable debt securities prior to their stated maturities depending upon changing liquidity requirements. These debt securities are classified as current assets in the condensed balance sheets and recorded at fair value, with unrealized gains or losses included in accumulated other comprehensive income (loss).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Gains and losses are recognized when realized. Gains and losses are determined using the specific identification method and are reported in other income, net in the condensed statements of operations when incurred. Unrealized gains and losses are included in other comprehensive income (loss) on the condensed balance sheets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i> </i></p> <p id="xdx_84B_ecustom--RecentAccountingStandardsPolicyTextBlock_zbhk3ddb5Vo6" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i><span id="xdx_86C_zsRDxJzFLma2">Recent Accounting Standards</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03 (as clarified by ASU 2025-01 in January 2025), <i>Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses</i>) (“ASU 2023-03”), requiring public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and for interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company does not believe ASU 2024-03 will have a material impact on its financial position, results of operations or financial statement disclosure.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In May 2025, the FASB issued ASU 2025-04<i> Compensation - Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Clarifications to Share-Based Consideration Payable to a Customer</i> which clarifies the guidance on the accounting for share-based payment awards that are granted by an entity as consideration payable to its customer, with the intent to reduce diversity in practice and improve existing guidance by revising the definition of a “performance condition” and eliminating a forfeiture policy election for service conditions associated with share-based consideration payable to a customer. It also clarifies the guidance in Topic 606 on the variable consideration constraint does not apply to share-based consideration payable to a customer “regardless of whether an award’s grant date has occurred”. ASU 2025-04 will be effective for the annual periods beginning after December 15, 2026 with early adoption permitted. The Company does not believe ASU 2025-04 will have a material impact on its financial position, results of operations or financial statement disclosure.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In September 2025, the FASB issued ASU 2025-06 <i>Intangibles—Goodwill and Other— Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. </i>The amendments require that an entity capitalize software costs when both: management has authorized and committed to funding the software project; and it is probable that the project will be completed and the software will be used to perform the function intended (referred to as the “probable-to-complete recognition threshold”). In evaluating the probable-to-complete recognition threshold, an entity is required to consider whether there is significant uncertainty associated with the development activities of the software. ASU 2025-06 will be effective for the annual periods beginning after December 15, 2027. The Company does not believe ASU 2025-06 will have a material impact on its financial position, results of operations or financial statement disclosure.</p> <p id="xdx_80E_eus-gaap--FairValueDisclosuresTextBlock_zWpcWGFJKDy2" style="font: 10pt Times New Roman, Times, Serif; margin: 0">  </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>4.</b></span></td> <td style="width: 95%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82A_zHRJwwcFKZi2">FAIR VALUE MEASUREMENTS</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Accounting Standards Codification (“ASC”) 820, <i>Fair Value Measurements</i> states that fair value represents the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The three-tiered fair value hierarchy, which prioritizes which inputs should be used in measuring fair value, consists of:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Level 1 — Quoted prices (unadjusted) in active markets for identical assets and liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as unadjusted quoted prices for similar assets and liabilities, unadjusted quoted prices in the markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company’s cash equivalents and short-term investments were measured at fair value on a recurring basis as Level 1 assets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company’s cash, cash equivalents and short-term investments classified by security type as of March 31, 2026 and December 31, 2025 consisted of the following (in thousands):</p> <table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisTextBlock_pn3n3_zCSkKoqBYbW5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span id="xdx_8B1_z3FVSEdxARfd" style="display: none">Schedule of fair value measurements</span></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><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"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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">Cost</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">Unrealized Gain/(Loss)</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">Accretion of Discount</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">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 32%; text-align: justify">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zD4Gal4VicId" style="width: 13%; text-align: right" title="Cost">302</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--FairValueAssetRecurringBasisStillHeldUnrealizedGainLossOci_pn3n3_d0_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zpk4NUIlGFk3" style="width: 13%; text-align: right" title="Unrealized Gain/(Loss)">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_pn3n3_d0_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_z0iU6Ca0tBM8" style="width: 13%; text-align: right" title="Accretion of Discount">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zbgD4oAs1L2h" style="width: 13%; text-align: right" title="Fair Value">302</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Money Market Funds</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember_zwyoJnsqeuO" style="text-align: right" title="Cost">6,134</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--FairValueAssetRecurringBasisStillHeldUnrealizedGainLossOci_pn3n3_d0_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember_zfy02dDLkind" style="text-align: right" title="Unrealized Gain/(Loss)">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_pn3n3_d0_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember_z0mC8W1ugiWl" style="text-align: right" title="Accretion of Discount">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember_zB9kG406AK78" style="text-align: right" title="Fair Value">6,134</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">US Treasury Bills</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--USTreasuryBillsMember_zyfTWirMscbj" style="text-align: right" title="Cost">23,124</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--FairValueAssetRecurringBasisStillHeldUnrealizedGainLossOci_pn3n3_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--USTreasuryBillsMember_zho7YHtzxCRa" style="text-align: right" title="Unrealized Gain/(Loss)">(7</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_pn3n3_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--USTreasuryBillsMember_zwcl1PIiUcF8" style="text-align: right" title="Accretion of Discount">49</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--USTreasuryBillsMember_zDofCtlCsXjj" style="text-align: right" title="Fair Value">23,166</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">US Agency Bonds</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--USAgencyBondsMember_z5LDtMFQDSF2" style="border-bottom: Black 1pt solid; text-align: right" title="Cost">11,496</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--FairValueAssetRecurringBasisStillHeldUnrealizedGainLossOci_pn3n3_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--USAgencyBondsMember_zpYMpPjqX1Ld" style="border-bottom: Black 1pt solid; text-align: right" title="Unrealized Gain/(Loss)">(16</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_pn3n3_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--USAgencyBondsMember_zPpQBVjBzE91" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of Discount">8</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--USAgencyBondsMember_zNUwwIfmBVJl" style="border-bottom: Black 1pt solid; text-align: right" title="Fair Value">11,488</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zG97fo8rTIzk" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost">41,056</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--FairValueAssetRecurringBasisStillHeldUnrealizedGainLossOci_pn3n3_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zp10XA7Tqas" style="border-bottom: Black 2.5pt double; text-align: right" title="Unrealized Gain/(Loss)">(23</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_pn3n3_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_z7vV5e3ETM5d" style="border-bottom: Black 2.5pt double; text-align: right" title="Accretion of Discount">57</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zFCjSEmpDMrj" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair Value">41,090</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">  </p> <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="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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">Cost</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">Unrealized Gain/(Loss)</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">Accretion of Discount</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">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 32%; text-align: justify">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zMb2b9XQijEg" style="width: 13%; text-align: right" title="Cost">279</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--FairValueAssetRecurringBasisStillHeldUnrealizedGainLossOci_pn3n3_d0_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zhKGHAnVX3za" style="width: 13%; text-align: right" title="Unrealized Gain/(Loss)">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_pn3n3_d0_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zsYmiH0f5Slg" style="width: 13%; text-align: right" title="Accretion of Discount">–</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_98D_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zjScXbi5X3L6" style="width: 13%; text-align: right" title="Fair Value">279</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Money Market Funds</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember_zaN46yZFbvO5" style="border-bottom: Black 1pt solid; text-align: right" title="Cost">18,931</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--FairValueAssetRecurringBasisStillHeldUnrealizedGainLossOci_pn3n3_d0_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember_zdIX86IOHAcl" style="border-bottom: Black 1pt solid; text-align: right" title="Unrealized Gain/(Loss)">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_pn3n3_d0_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember_zNN1wjRov4F1" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of Discount">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember_zU5INIBPJ0qe" style="border-bottom: Black 1pt solid; text-align: right" title="Fair Value">18,931</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zBVNp0P5cZFd" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost">19,210</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--FairValueAssetRecurringBasisStillHeldUnrealizedGainLossOci_pn3n3_d0_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zhPIxZhUWLKa" style="border-bottom: Black 2.5pt double; text-align: right" title="Unrealized Gain/(Loss)">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_pn3n3_d0_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zWWqj7LN9eva" style="border-bottom: Black 2.5pt double; text-align: right" title="Accretion of Discount">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_z0NJtZRJfdwk" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair Value">19,210</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_z61HTyOXqwri" style="font: 10pt Times New Roman, Times, Serif; margin: 0">  </p> <table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--FairValueAssetsMeasuredOnRecurringBasisTextBlock_pn3n3_zCSkKoqBYbW5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - FAIR VALUE MEASUREMENTS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span id="xdx_8B1_z3FVSEdxARfd" style="display: none">Schedule of fair value measurements</span></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><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"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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">Cost</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">Unrealized Gain/(Loss)</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">Accretion of Discount</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">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 32%; text-align: justify">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zD4Gal4VicId" style="width: 13%; text-align: right" title="Cost">302</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--FairValueAssetRecurringBasisStillHeldUnrealizedGainLossOci_pn3n3_d0_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zpk4NUIlGFk3" style="width: 13%; text-align: right" title="Unrealized Gain/(Loss)">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_pn3n3_d0_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_z0iU6Ca0tBM8" style="width: 13%; text-align: right" title="Accretion of Discount">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zbgD4oAs1L2h" style="width: 13%; text-align: right" title="Fair Value">302</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Money Market Funds</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember_zwyoJnsqeuO" style="text-align: right" title="Cost">6,134</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--FairValueAssetRecurringBasisStillHeldUnrealizedGainLossOci_pn3n3_d0_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember_zfy02dDLkind" style="text-align: right" title="Unrealized Gain/(Loss)">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_pn3n3_d0_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember_z0mC8W1ugiWl" style="text-align: right" title="Accretion of Discount">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember_zB9kG406AK78" style="text-align: right" title="Fair Value">6,134</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">US Treasury Bills</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--USTreasuryBillsMember_zyfTWirMscbj" style="text-align: right" title="Cost">23,124</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--FairValueAssetRecurringBasisStillHeldUnrealizedGainLossOci_pn3n3_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--USTreasuryBillsMember_zho7YHtzxCRa" style="text-align: right" title="Unrealized Gain/(Loss)">(7</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_pn3n3_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--USTreasuryBillsMember_zwcl1PIiUcF8" style="text-align: right" title="Accretion of Discount">49</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--USTreasuryBillsMember_zDofCtlCsXjj" style="text-align: right" title="Fair Value">23,166</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">US Agency Bonds</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--USAgencyBondsMember_z5LDtMFQDSF2" style="border-bottom: Black 1pt solid; text-align: right" title="Cost">11,496</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--FairValueAssetRecurringBasisStillHeldUnrealizedGainLossOci_pn3n3_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--USAgencyBondsMember_zpYMpPjqX1Ld" style="border-bottom: Black 1pt solid; text-align: right" title="Unrealized Gain/(Loss)">(16</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_pn3n3_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--USAgencyBondsMember_zPpQBVjBzE91" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of Discount">8</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__custom--USAgencyBondsMember_zNUwwIfmBVJl" style="border-bottom: Black 1pt solid; text-align: right" title="Fair Value">11,488</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zG97fo8rTIzk" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost">41,056</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--FairValueAssetRecurringBasisStillHeldUnrealizedGainLossOci_pn3n3_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zp10XA7Tqas" style="border-bottom: Black 2.5pt double; text-align: right" title="Unrealized Gain/(Loss)">(23</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_pn3n3_c20260101__20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_z7vV5e3ETM5d" style="border-bottom: Black 2.5pt double; text-align: right" title="Accretion of Discount">57</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zFCjSEmpDMrj" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair Value">41,090</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">  </p> <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="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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">Cost</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">Unrealized Gain/(Loss)</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">Accretion of Discount</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">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 32%; text-align: justify">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zMb2b9XQijEg" style="width: 13%; text-align: right" title="Cost">279</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--FairValueAssetRecurringBasisStillHeldUnrealizedGainLossOci_pn3n3_d0_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zhKGHAnVX3za" style="width: 13%; text-align: right" title="Unrealized Gain/(Loss)">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_pn3n3_d0_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zsYmiH0f5Slg" style="width: 13%; text-align: right" title="Accretion of Discount">–</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_98D_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zjScXbi5X3L6" style="width: 13%; text-align: right" title="Fair Value">279</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Money Market Funds</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember_zaN46yZFbvO5" style="border-bottom: Black 1pt solid; text-align: right" title="Cost">18,931</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--FairValueAssetRecurringBasisStillHeldUnrealizedGainLossOci_pn3n3_d0_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember_zdIX86IOHAcl" style="border-bottom: Black 1pt solid; text-align: right" title="Unrealized Gain/(Loss)">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_pn3n3_d0_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember_zNN1wjRov4F1" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of Discount">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember_zU5INIBPJ0qe" style="border-bottom: Black 1pt solid; text-align: right" title="Fair Value">18,931</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--InvestmentOwnedAtCost_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zBVNp0P5cZFd" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost">19,210</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--FairValueAssetRecurringBasisStillHeldUnrealizedGainLossOci_pn3n3_d0_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zhPIxZhUWLKa" style="border-bottom: Black 2.5pt double; text-align: right" title="Unrealized Gain/(Loss)">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--AccretionAmortizationOfDiscountsAndPremiumsInvestments_pn3n3_d0_c20250101__20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zWWqj7LN9eva" style="border-bottom: Black 2.5pt double; text-align: right" title="Accretion of Discount">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_z0NJtZRJfdwk" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair Value">19,210</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 302000 0 0 302000 6134000 0 0 6134000 23124000 -7000 49000 23166000 11496000 -16000 8000 11488000 41056000 -23000 57000 41090000 279000 0 0 279000 18931000 0 0 18931000 19210000 0 0 19210000 <p id="xdx_806_eus-gaap--RevenueFromContractWithCustomerTextBlock_z53HwWUHkrTi" style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5.</b></span></td> <td style="width: 95%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82B_z9YVAK58XJfd">REVENUE</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company recognizes revenue in accordance with ASC 606. The amount of revenue that the Company recognizes reflects the consideration it expects to receive in exchange for goods or services and such revenue is recognized at the time when goods or services are transferred and/or delivered to its customers. Revenue is recognized when the Company satisfies a performance obligation by transferring the product or service to the customer, either at a point in time or over time. Revenue from MSTcad licenses is recognized over a period of time.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following table provides information about disaggregated revenue by primary geographical markets and timing of revenue recognition (in thousands):</p> <table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--DisaggregationOfRevenueTableTextBlock_pn3n3_zd4uHcoFThml" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - REVENUE (Details)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B5_z5ZKZhzIaXR2" style="display: none">Schedule of disaggregated revenue by primary geographical markets and timing of revenue recognition</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </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">Three Months Ended March 31</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">2026</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">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Primary geographic markets</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="padding-left: 10pt; width: 66%; text-align: left">North America</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20260101__20260331__srt--StatementGeographicalAxis__srt--NorthAmericaMember_zEErYjj4l636" style="width: 13%; text-align: right" title="Revenue">11</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20250101__20250331__srt--StatementGeographicalAxis__srt--NorthAmericaMember_zCshCEYlZWck" style="width: 13%; text-align: right" title="Revenue">4</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Asia Pacific</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_d0_c20260101__20260331__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zTyAAdNvbfy" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_d0_c20250101__20250331__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zibFwGZDywVh" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20260101__20260331__srt--StatementGeographicalAxis__custom--PrimaryGeographicMarketMember_zVjlSWY2pvEj" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">11</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20250101__20250331__srt--StatementGeographicalAxis__custom--PrimaryGeographicMarketMember_zgbIy7FCla41" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">4</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Timing of revenue recognition</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left">Products and services transferred at a point in time</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20260101__20260331__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z5DKm36VMX2f" style="text-align: right" title="Revenue">11</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_d0_c20250101__20250331__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z4YweQSNDs8d" style="text-align: right" title="Revenue">–</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Products and services transferred over time</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_d0_c20260101__20260331__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_z9OBodDmwzQf" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20250101__20250331__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_z1LON5Y0LA5g" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue">4</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 20pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20260101__20260331__us-gaap--TimingOfTransferOfGoodOrServiceAxis__custom--TimingOfRevenueRecognitionMember_z0Xlnr9PHqTj" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">11</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20250101__20250331__us-gaap--TimingOfTransferOfGoodOrServiceAxis__custom--TimingOfRevenueRecognitionMember_zvgKC0B7dxzj" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">4</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A3_znC2I7VatPNf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Unbilled contracts receivable</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Timing of revenue recognition may differ from the timing of invoicing customers. Accounts receivable includes amounts billed and currently due from customers. Unbilled contracts receivable represents unbilled amounts expected to be received from customers in future periods, where the revenue recognized to date exceeds the amount billed, and the right to receive payment is subject to the underlying contractual terms. Unbilled contracts receivable amounts may not exceed their net realizable value and are classified as long-term assets if the payments are expected to be received more than one year from the reporting date. The Company had no unbilled contracts receivable as of March 31, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Deferred Revenue</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company records deferred revenue for customers that were issued invoices, but from which the Company has not yet recognized the revenue based on its revenue recognition policy. As of March 31, 2026, the Company has approximately $<span id="xdx_90F_eus-gaap--DeferredRevenue_iI_pp0p0_c20260331_zQLIfBY5YcBc" title="Deferred revenue">96,000</span> in deferred revenue that is expected to be recognized in the next 12 months.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--DisaggregationOfRevenueTableTextBlock_pn3n3_zd4uHcoFThml" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - REVENUE (Details)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B5_z5ZKZhzIaXR2" style="display: none">Schedule of disaggregated revenue by primary geographical markets and timing of revenue recognition</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </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">Three Months Ended March 31</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">2026</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">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Primary geographic markets</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="padding-left: 10pt; width: 66%; text-align: left">North America</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20260101__20260331__srt--StatementGeographicalAxis__srt--NorthAmericaMember_zEErYjj4l636" style="width: 13%; text-align: right" title="Revenue">11</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20250101__20250331__srt--StatementGeographicalAxis__srt--NorthAmericaMember_zCshCEYlZWck" style="width: 13%; text-align: right" title="Revenue">4</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Asia Pacific</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_d0_c20260101__20260331__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zTyAAdNvbfy" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_d0_c20250101__20250331__srt--StatementGeographicalAxis__srt--AsiaPacificMember_zibFwGZDywVh" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20260101__20260331__srt--StatementGeographicalAxis__custom--PrimaryGeographicMarketMember_zVjlSWY2pvEj" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">11</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20250101__20250331__srt--StatementGeographicalAxis__custom--PrimaryGeographicMarketMember_zgbIy7FCla41" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">4</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Timing of revenue recognition</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left">Products and services transferred at a point in time</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20260101__20260331__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z5DKm36VMX2f" style="text-align: right" title="Revenue">11</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_d0_c20250101__20250331__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z4YweQSNDs8d" style="text-align: right" title="Revenue">–</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Products and services transferred over time</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_d0_c20260101__20260331__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_z9OBodDmwzQf" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20250101__20250331__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_z1LON5Y0LA5g" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue">4</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 20pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20260101__20260331__us-gaap--TimingOfTransferOfGoodOrServiceAxis__custom--TimingOfRevenueRecognitionMember_z0Xlnr9PHqTj" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">11</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20250101__20250331__us-gaap--TimingOfTransferOfGoodOrServiceAxis__custom--TimingOfRevenueRecognitionMember_zvgKC0B7dxzj" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue">4</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 11000 4000 0 0 11000 4000 11000 0 0 4000 11000 4000 96000 <p id="xdx_80E_eus-gaap--EarningsPerShareTextBlock_zW59sdsPR1xl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>6.</b></span></td> <td style="width: 95%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82E_z4D6B0gqxTS9">BASIC AND DILUTED LOSS PER SHARE</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares outstanding for the period. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the sum of the weighted average number of shares of common stock outstanding and the dilutive common stock equivalent shares outstanding during the period. The Company’s potentially dilutive common stock equivalent shares, which include incremental common shares issuable upon (i) the exercise of outstanding stock options and (ii) vesting of restricted stock units and (iii) restricted stock awards, are only included in the calculation of diluted net loss per share when their effect is dilutive. Since the Company has had net losses for all periods presented, all potentially dilutive securities are anti-dilutive. Accordingly, basic and diluted net loss per share are equal.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following potential common stock equivalents were not included in the calculation of diluted net loss per common share because the inclusion thereof would be anti-dilutive (in thousands):</p> <table cellpadding="0" cellspacing="0" id="xdx_881_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_pn3n3_z6hF10Nfldm8" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - BASIC AND DILUTED LOSS PER SHARE (Details)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B4_zojsS3gaJm5j" style="display: none">Schedule of anti-dilutive shares</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 0; text-align: center"><b>Three Months Ended</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 0; text-align: center"><b>March 31,</b></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">2026</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">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Stock Options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_c20260101__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zUGi3SrpsQo3" style="width: 13%; text-align: right" title="Anti dilutive shares">3,586</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_c20250101__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zOgGvd85GXde" style="width: 13%; text-align: right" title="Anti dilutive shares">3,582</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Unvested restricted stock awards</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_c20260101__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_zQeWvWdgsOl5" style="text-align: right" title="Anti dilutive shares">185</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_c20250101__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_zvjuPtjIN9w6" style="text-align: right" title="Anti dilutive shares">423</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Unvested restricted stock units</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_c20260101__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockUnitsMember_zunRdqGUC1qa" style="border-bottom: Black 1pt solid; text-align: right" title="Anti dilutive shares">1,191</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_c20250101__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockUnitsMember_zJ7fOeKhbGij" style="border-bottom: Black 1pt solid; text-align: right" title="Anti dilutive shares">583</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_c20260101__20260331_zJPNAMsU0tG" style="border-bottom: Black 2.5pt double; text-align: right" title="Anti dilutive shares">4,962</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_c20250101__20250331_zDkV6dVcFRRj" style="border-bottom: Black 2.5pt double; text-align: right" title="Anti dilutive shares">4,588</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_881_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_pn3n3_z6hF10Nfldm8" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - BASIC AND DILUTED LOSS PER SHARE (Details)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B4_zojsS3gaJm5j" style="display: none">Schedule of anti-dilutive shares</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 0; text-align: center"><b>Three Months Ended</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 0; text-align: center"><b>March 31,</b></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">2026</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">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Stock Options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_c20260101__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zUGi3SrpsQo3" style="width: 13%; text-align: right" title="Anti dilutive shares">3,586</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_c20250101__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zOgGvd85GXde" style="width: 13%; text-align: right" title="Anti dilutive shares">3,582</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Unvested restricted stock awards</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_c20260101__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_zQeWvWdgsOl5" style="text-align: right" title="Anti dilutive shares">185</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_c20250101__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_zvjuPtjIN9w6" style="text-align: right" title="Anti dilutive shares">423</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Unvested restricted stock units</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_c20260101__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockUnitsMember_zunRdqGUC1qa" style="border-bottom: Black 1pt solid; text-align: right" title="Anti dilutive shares">1,191</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_c20250101__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockUnitsMember_zJ7fOeKhbGij" style="border-bottom: Black 1pt solid; text-align: right" title="Anti dilutive shares">583</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_c20260101__20260331_zJPNAMsU0tG" style="border-bottom: Black 2.5pt double; text-align: right" title="Anti dilutive shares">4,962</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_c20250101__20250331_zDkV6dVcFRRj" style="border-bottom: Black 2.5pt double; text-align: right" title="Anti dilutive shares">4,588</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 3586000 3582000 185000 423000 1191000 583000 4962000 4588000 <p id="xdx_80D_ecustom--LesseeOperatingAndFinanceLeasesTextBlock_z9XE2YVkMRzj" style="font: 10pt Times New Roman, Times, Serif; margin: 0">   </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>7.</b></span></td> <td style="width: 52%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82E_zIEuc2Zg34Pb">LEASES</span></b></span></td> <td style="width: 46%; text-align: justify"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company accounts for leases over one year under ASC 842. Lease expense for the Company’s operating leases consists of the lease payments recognized on a straight-line basis over the lease term. Expenses for the Company’s financing leases consists of the amortization expenses recognized on a straight-line basis over the lease term and interest expense.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company’s lease agreement for an epitaxial deposition tool used in the development and marketing of the Company’s technology established a monthly lease payment of $150,000 per month. The lease contains a provision for an annual adjustment of lease payments based on tool availability and usage during the preceding 12 months and the adjusted payment is calculated on August 1 of each year of the lease. Effective August 1, 2024, the lease payments for this tool were adjusted to $124,071 per month for the period August 1, 2024 through July 31, 2025. This adjustment to the lease payments also resulted in a reduction in the right-of-use (“ROU”) asset and corresponding lease liability. Effective August 1, 2025, the lease payments for this tool were adjusted to $133,125 per month for the period August 1, 2025 through April 30, 2026. The final three months of the lease were prepaid at the commencement of the lease. This adjustment to the lease payments also resulted in a reduction in the ROU asset and corresponding lease liability.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In December 2025, the Company and its landlord amended the lease of the corporate headquarters in Los Gatos, California. The amendment extends the expiration date of the lease from January 2026 to March 2031. An additional ROU asset and lease liability of approximately $<span id="xdx_904_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pp0p0_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LosGatosCAMember_zrfWDmu4CmXd" title="ROU asset"><span id="xdx_90F_eus-gaap--OperatingLeaseLiability_iI_pp0p0_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LosGatosCAMember_zUM2ING9wmX6" title="Lease liability">856,000</span></span> was recorded during the year ended December 31, 2025. The lease liability is based on the present value of the minimum lease payments, discounted using an estimated incremental borrowing rate of <span id="xdx_90B_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pip0_dp_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LosGatosCAMember_zUgiiaEK0RDk" title="Weighted average remaining discount rate for operating leases">8.75</span>%. The lease contains escalating payments on the anniversary of the original commencement of the lease which are included in the measurement of the lease liability. Additional payments based on a change in the Company’s share of the operating expenses, including property taxes and insurance are recorded as a period expense when incurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In February 2026, the Company and its landlord amended the lease of its Tempe office location. The lease also contains a performance standard for research collaboration with Arizona State University. The agreement requires a minimum value of collaboration in each year of the lease. The lease is accounted for under ASC 842 and accordingly, the research payments are included in the ROU and lease liability. The lease is for three years with an option to extend the lease for an additional two years. The lease liability is based on the present value of the minimum lease payments, discounted using an estimated incremental borrowing rate of <span id="xdx_900_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pip0_dp_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TempeOfficeMember_zVb3kkobbd2f" title="Weighted average remaining discount rate for operating leases">8.75</span>%. An ROU asset and lease liability of approximately $<span id="xdx_904_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pp0p0_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TempeOfficeMember_zKKjFpfL7Id" title="ROU asset"><span id="xdx_905_eus-gaap--OperatingLeaseLiability_iI_pp0p0_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TempeOfficeMember_zhd0EIR6GMN2" title="Lease liability">342,000</span></span> was recorded during the three months ended March 31, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span id="xdx_900_eus-gaap--LesseeOperatingLeaseDescription_c20250101__20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TempeAZMember_zbKgW3UfQAXb" title="Lessee operating lease description">In December 2025, the Company entered into a lease agreement for an epitaxial deposition tool in Tempe, Arizona, distinct from the tool previously mentioned. The term of this lease is for 12 months beginning on January 1, 2025 for $95,000 per month. Since the lease term is not for more than one year and there are no extension provisions in the lease, the future lease payments are not included in the lease obligations on the Company’s condensed balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Lease expense for operating leases consists of the lease payments recognized on a straight-line basis over the lease term. Expenses for financing leases consists of the amortization expenses recognized on a straight-line basis over the lease term and interest expense. The components of lease costs were as follows (in thousands):</p> <table cellpadding="0" cellspacing="0" id="xdx_893_eus-gaap--LeaseCostTableTextBlock_pn3n3_zF0IjHORP6jg" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - LEASES (Details - Lease costs)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B2_zwJwAlGCwGKg" style="display: none">Schedule of lease costs</span></td><td> </td> <td colspan="2" id="xdx_499_20260101__20260331_zyYJyJY32jre" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_498_20250101__20250331_zakMjIBfKbac" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </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">Three Months Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">2026</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">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--LeaseCostAbstract_iB" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Financing lease costs:</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_eus-gaap--FinanceLeaseRightOfUseAssetAmortization_maLCzpEg_zevzeJK5CLaj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 66%; text-align: left">Amortization of ROU assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">211</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">251</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseInterestExpense_maLCzpEg_zrnsoJUdHPee" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Interest on lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">21</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LeaseCost_iT_pn3n3_mtLCzpEg_z5qSbvayqQMj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Total financing lease costs</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">215</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">272</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--OperatingLeaseCostAbstract_iB_zz6DlXsMqYZ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease costs:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--FixedLeaseCosts_maOLCz0S3_zXrY4tOLONNi" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left">Fixed lease costs</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">71</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">65</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--VariableLeaseCost_d0_maOLCz0S3_z5OjA8WgIw56" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Variable lease costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ShortTermLeaseCost_maOLCz0S3_zaWVfcG7xkck" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Short-term lease costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">285</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">285</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseCost_iT_pn3n3_mtOLCz0S3_zZS2uA28QkQ4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Total operating lease costs</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">356</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">351</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A6_zUolMrCWU9fg" style="font: 10pt Times New Roman, Times, Serif; margin: 0">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.45in">Future minimum payments under non-cancellable leases as of March 31, 2026 were as follows (in thousands):</p> <table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_pn3n3_zgrff1xmwOdl" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - LEASES (Details - Minimum lease payments)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B4_zq7oEAdr5Sni" style="display: none">Schedule of future minimum payments</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">For the Year Ended December 31,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Financing leases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating leases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%">Remaining 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_zSvKhW1WzEM6" style="width: 13%; text-align: right" title="Remaining 2026">106</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_ztBFi009CBXk" style="width: 13%; text-align: right" title="Remaining 2026">207</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_d0_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_zqyluSc2AQz7" style="text-align: right" title="2027">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_zjVzbRFdNEM" style="text-align: right" title="2027">292</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_d0_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_z0mEYfQ68jb4" style="text-align: right" title="2028">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_zoyqWXWXndRb" style="text-align: right" title="2028">299</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_d0_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_zwL5qKGDUfM2" style="text-align: right" title="2029">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_zWZUMsv4lGqi" style="text-align: right" title="2029">306</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_d0_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_zd0zWm2KC018" style="text-align: right" title="2030">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_zyiuPmProxmk" style="text-align: right" title="2030">314</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2031</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFive_iI_pn3n3_d0_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_zFBW9w7Efi3" style="border-bottom: Black 1pt solid; text-align: right" title="2031">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFive_iI_pn3n3_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_zxcPYdEKutIg" style="border-bottom: Black 1pt solid; text-align: right" title="2031">64</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left">Total future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iI_pn3n3_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_zZTtznNy12pj" style="text-align: right" title="Total future minimum lease payments">106</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_pn3n3_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_zdTAS5eNHj9" style="text-align: right" title="Total future minimum lease payments">1,482</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di0_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_z7FJmzOPMaik" style="border-bottom: Black 1pt solid; text-align: right" title="Less imputed interest">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_zy68cBVMH1R1" style="border-bottom: Black 1pt solid; text-align: right" title="Less imputed interest">(285</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total lease liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_z0j1HZW3jSYd" style="border-bottom: Black 2.5pt double; text-align: right" title="Total lease liability">106</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--OperatingLeaseLiability_iI_pn3n3_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_zrn0LpQsR5g5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total lease liability">1,197</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zTbIndJVwfFg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.45in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.45in">The table below provides supplemental information and non-cash activity related to the Company’s operating and financing leases (in thousands):</p> <table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock_pn3n3_zm3gXDawPOpd" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - LEASES (Details - Cash flow effect)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B3_zkjlhrD8h694" style="display: none">Schedule of supplemental information and non-cash activity</span></td><td> </td> <td colspan="2" id="xdx_49A_20260101__20260331_zufKqG8yw2I3" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_491_20250101__20250331_zM8xFRKwPlJd" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </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">Three Months Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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">2026</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">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--SupplementalCashFlowElementsAbstract_iB" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: justify">Operating cash flow information:</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--OperatingLeasePayments_i01_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 20pt; width: 66%; text-align: left">Cash paid for amounts included in the measurement of operating lease liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">25</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">102</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FinanceLeaseInterestPaymentOnLiability_i01_pn3n3" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-indent: -10pt; padding-left: 20pt; text-align: left">Cash paid for amounts included in the measurement of financing liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">319</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">297</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--NoncashInvestingAndFinancingItemsAbstract_i01B" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Non-cash activity:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_d0_zou48en3Zqjc" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-indent: -10pt; padding-left: 20pt; text-align: left">Right-of-use assets obtained in exchange for operating lease obligations</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">342</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> <p id="xdx_8AF_zuiHXFvGUYvi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The table above does not include short-term leases that are one-year or less. The weighted average remaining discount rate is <span id="xdx_90E_eus-gaap--FinanceLeaseWeightedAverageDiscountRatePercent_iI_pip0_dp_c20260331_zBrperGCxw8f" title="Weighted average remaining discount rate for financing leases">5.25</span>% for the Company’s financing leases and <span id="xdx_906_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pip0_dp_c20260331_zlE9QgUO1Os8" title="Weighted average remaining discount rate for operating leases">8.75</span>% for the Company’s operating leases. The weighted average remaining lease term is <span id="xdx_905_eus-gaap--FinanceLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260331_zyiBwlKTL6qb" title="Weighted average lease term for financing lease">0.3</span> years for the financing lease and <span id="xdx_90E_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260331_zKQik13mirsc" title="Weighted average lease term for operating lease">5.0</span> years for operating leases as of March 31, 2026.</p> 856000 856000 0.0875 0.0875 342000 342000 In December 2025, the Company entered into a lease agreement for an epitaxial deposition tool in Tempe, Arizona, distinct from the tool previously mentioned. The term of this lease is for 12 months beginning on January 1, 2025 for $95,000 per month. Since the lease term is not for more than one year and there are no extension provisions in the lease, the future lease payments are not included in the lease obligations on the Company’s condensed balance sheets. <table cellpadding="0" cellspacing="0" id="xdx_893_eus-gaap--LeaseCostTableTextBlock_pn3n3_zF0IjHORP6jg" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - LEASES (Details - Lease costs)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B2_zwJwAlGCwGKg" style="display: none">Schedule of lease costs</span></td><td> </td> <td colspan="2" id="xdx_499_20260101__20260331_zyYJyJY32jre" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_498_20250101__20250331_zakMjIBfKbac" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </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">Three Months Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">2026</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">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--LeaseCostAbstract_iB" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Financing lease costs:</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_eus-gaap--FinanceLeaseRightOfUseAssetAmortization_maLCzpEg_zevzeJK5CLaj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 66%; text-align: left">Amortization of ROU assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">211</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">251</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseInterestExpense_maLCzpEg_zrnsoJUdHPee" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Interest on lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">21</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LeaseCost_iT_pn3n3_mtLCzpEg_z5qSbvayqQMj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Total financing lease costs</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">215</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">272</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--OperatingLeaseCostAbstract_iB_zz6DlXsMqYZ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease costs:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--FixedLeaseCosts_maOLCz0S3_zXrY4tOLONNi" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left">Fixed lease costs</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">71</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">65</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--VariableLeaseCost_d0_maOLCz0S3_z5OjA8WgIw56" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Variable lease costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ShortTermLeaseCost_maOLCz0S3_zaWVfcG7xkck" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Short-term lease costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">285</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">285</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseCost_iT_pn3n3_mtOLCz0S3_zZS2uA28QkQ4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Total operating lease costs</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">356</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">351</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 211000 251000 4000 21000 215000 272000 71000 65000 0 1000 285000 285000 356000 351000 <table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_pn3n3_zgrff1xmwOdl" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - LEASES (Details - Minimum lease payments)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B4_zq7oEAdr5Sni" style="display: none">Schedule of future minimum payments</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">For the Year Ended December 31,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Financing leases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating leases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%">Remaining 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_zSvKhW1WzEM6" style="width: 13%; text-align: right" title="Remaining 2026">106</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_ztBFi009CBXk" style="width: 13%; text-align: right" title="Remaining 2026">207</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_d0_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_zqyluSc2AQz7" style="text-align: right" title="2027">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_zjVzbRFdNEM" style="text-align: right" title="2027">292</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_d0_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_z0mEYfQ68jb4" style="text-align: right" title="2028">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_zoyqWXWXndRb" style="text-align: right" title="2028">299</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_d0_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_zwL5qKGDUfM2" style="text-align: right" title="2029">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_zWZUMsv4lGqi" style="text-align: right" title="2029">306</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_d0_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_zd0zWm2KC018" style="text-align: right" title="2030">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_zyiuPmProxmk" style="text-align: right" title="2030">314</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2031</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFive_iI_pn3n3_d0_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_zFBW9w7Efi3" style="border-bottom: Black 1pt solid; text-align: right" title="2031">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFive_iI_pn3n3_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_zxcPYdEKutIg" style="border-bottom: Black 1pt solid; text-align: right" title="2031">64</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left">Total future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iI_pn3n3_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_zZTtznNy12pj" style="text-align: right" title="Total future minimum lease payments">106</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_pn3n3_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_zdTAS5eNHj9" style="text-align: right" title="Total future minimum lease payments">1,482</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di0_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_z7FJmzOPMaik" style="border-bottom: Black 1pt solid; text-align: right" title="Less imputed interest">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_zy68cBVMH1R1" style="border-bottom: Black 1pt solid; text-align: right" title="Less imputed interest">(285</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total lease liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20260331__us-gaap--LongtermDebtTypeAxis__custom--FinancingLeasesMember_z0j1HZW3jSYd" style="border-bottom: Black 2.5pt double; text-align: right" title="Total lease liability">106</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--OperatingLeaseLiability_iI_pn3n3_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OperatingLeasesMember_zrn0LpQsR5g5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total lease liability">1,197</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 106000 207000 0 292000 0 299000 0 306000 0 314000 0 64000 106000 1482000 -0 285000 106000 1197000 <table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock_pn3n3_zm3gXDawPOpd" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - LEASES (Details - Cash flow effect)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B3_zkjlhrD8h694" style="display: none">Schedule of supplemental information and non-cash activity</span></td><td> </td> <td colspan="2" id="xdx_49A_20260101__20260331_zufKqG8yw2I3" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_491_20250101__20250331_zM8xFRKwPlJd" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </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">Three Months Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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">2026</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">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--SupplementalCashFlowElementsAbstract_iB" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: justify">Operating cash flow information:</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--OperatingLeasePayments_i01_pn3n3" style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 20pt; width: 66%; text-align: left">Cash paid for amounts included in the measurement of operating lease liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">25</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">102</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FinanceLeaseInterestPaymentOnLiability_i01_pn3n3" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-indent: -10pt; padding-left: 20pt; text-align: left">Cash paid for amounts included in the measurement of financing liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">319</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">297</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--NoncashInvestingAndFinancingItemsAbstract_i01B" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Non-cash activity:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_d0_zou48en3Zqjc" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-indent: -10pt; padding-left: 20pt; text-align: left">Right-of-use assets obtained in exchange for operating lease obligations</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">342</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> 25000 102000 319000 297000 342000 0 0.0525 0.0875 P0Y3M18D P5Y <p id="xdx_806_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zSZcLtHg6nU" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8.</b></span></td> <td style="width: 95%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_822_zFwtHrRypyda">STOCK BASED COMPENSATION</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In May 2017, the Company’s shareholders approved its 2017 Stock Incentive Plan (“2017 Plan”) after its 2007 Stock Incentive Plan (“2007 Plan”) had expired in March 2017. The 2017 Plan provides for the grant of non-qualified stock options and incentive stock options to purchase shares of the Company’s common stock and for the grant of restricted and unrestricted shares of common stock and restricted stock units. The 2017 Plan provides for the issuance of <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pp0p0_c20170531__us-gaap--PlanNameAxis__custom--Plan2017Member_zYWGVVtPpjok" title="Shares authorized for issuance">3,750,000</span> shares of common stock. In May 2023, the Company’s shareholders approved its 2023 Stock Incentive Plan (“2023 Plan”). The 2023 plan provides for the issuance of <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20230531__us-gaap--PlanNameAxis__custom--Plan2023Member_zj7I2uwb0xo4" title="Shares authorized for issuance">2,000,000</span> shares of common stock. In May 2025, Company’s shareholders approved an amendment to the 2023 Plan, adding an additional <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized_pp0p0_c20250501__20250531__us-gaap--PlanNameAxis__custom--Plan2023Member_z6mmLQSaHrTa" title="Additional shares authorized under the plan">1,750,000</span> shares to this plan. All employees (including officers and directors who are also employees), as well as all of the nonemployee directors and other consultants, advisors and other persons who provide services to the Company are eligible to receive incentive awards under the 2017 Plan and 2023 Plan. Generally, stock options, restricted stock and restricted stock units issued under the 2017 Plan and 2023 Plan vest over a period of one to four years from the date of grant. As of March 31, 2026, a total of approximately <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20260331_zvyUNIh5W5fb" title="Shares available for grant">777,000</span> shares remain available for issuance under the plans.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following table summarizes the stock-based compensation expense recorded in the Company’s results of operations for stock options, restricted stock awards and restricted stock units granted under the Company’s incentive plans (in thousands):</p> <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_pn3n3_zWJhwzAyGD54" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - STOCK BASED COMPENSATION (Details - Compensation expense)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BA_zsgFZZnA1rv8" style="display: none">Schedule of stock-based compensation expense</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </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">Three Months Ended<br/> March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">2026</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">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensation_pn3n3_c20260101__20260331__us-gaap--NatureOfExpenseAxis__custom--ResearchAndDevelopmentMember_z2y9UpbClBeb" style="width: 13%; text-align: right" title="Stock-based compensation expense">534</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--ShareBasedCompensation_pn3n3_c20250101__20250331__us-gaap--NatureOfExpenseAxis__custom--ResearchAndDevelopmentMember_z81EvE2djBUl" style="width: 13%; text-align: right" title="Stock-based compensation expense">459</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensation_pn3n3_c20260101__20260331__us-gaap--NatureOfExpenseAxis__custom--GeneralAndAdministrativeMember_zka5ztfe8Aq3" style="text-align: right" title="Stock-based compensation expense">829</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensation_pn3n3_c20250101__20250331__us-gaap--NatureOfExpenseAxis__custom--GeneralAndAdministrativeMember_z3zWPK79W9W7" style="text-align: right" title="Stock-based compensation expense">599</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Selling and marketing</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensation_pn3n3_c20260101__20260331__us-gaap--NatureOfExpenseAxis__custom--SellingAndMarketingMember_zw9qAXYtvSQ8" style="border-bottom: Black 1pt solid; text-align: right" title="Stock-based compensation expense">43</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensation_pn3n3_c20250101__20250331__us-gaap--NatureOfExpenseAxis__custom--SellingAndMarketingMember_zIoKp1bNZhu7" style="border-bottom: Black 1pt solid; text-align: right" title="Stock-based compensation expense">(49</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensation_pn3n3_c20260101__20260331_zHXIIJ0swna3" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock-based compensation expense">1,406</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensation_pn3n3_c20250101__20250331_zmPM3GNqBKXh" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock-based compensation expense">1,009</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A3_z2npTGLr4cr1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As of March 31, 2026, there was approximately $<span id="xdx_90F_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn5n6_c20260331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zJmNAKRvxqa7" title="Unrecognized compensation expense">13.2</span> million of total unrecognized compensation expense related to unvested share-based compensation. This cost is expected to be recognized over a weighted-average period of <span id="xdx_908_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zNAk29DA7R7h" title="Unrecognized compensation weighted average period">2.3</span> years.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Time-Based Stock Options:</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company records compensation expense for time-based stock options over the vesting term using the straight-line method. The fair value of employee stock options issued was estimated using the Black-Scholes method and the average grant date fair value was estimated to be $<span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zUCi9o3rDlki" title="Average grant date fair value per share">4.39</span> for three months ended March 31, 2026. There were <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pip0_do_c20250101__20250331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zQW7WvfYX1Vb" title="Average grant date fair value per share">no</span> time-based stock options issued in the three months ended March 31, 2025. The following table summarizes time-based stock option activity during the three months ended March 31, 2026 (in thousands except exercise prices and contractual terms):</p> <table cellpadding="0" cellspacing="0" id="xdx_890_eus-gaap--ScheduleOfStockOptionsRollForwardTableTextBlock_zpy5kzfFlWxb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - STOCK BASED COMPENSATION (Details - Time-based stock options activity)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B7_zRjUqu0BOh76" style="display: none">Schedule of time based stock option activity</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Number of</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Shares</b></p></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"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Weighted-</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Average</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Exercise</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Prices per Share</b></p></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"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Weighted-<br/> Average</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Remaining</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Contractual</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Term (In Years)</b></p></td><td style="padding-bottom: 1pt"> </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">Intrinsic<br/> Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 32%">Outstanding at January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zdVdIrs9MAPf" style="width: 13%; text-align: right" title="Number of outstanding, beginning balance">2,907</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--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zot3mUw1NZwj" style="width: 13%; text-align: right" title="Outstanding, weighted average exercise prices per share, beginning balance">6.53</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: 13%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_z4F0PiDNr2Al" style="text-align: right" title="Number of options granted">109</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zmKbmuiq3r98" style="text-align: right" title="Options granted, weighted average exercise prices per share">5.24</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pn3n3_di_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zNqxJpZEjLR1" style="text-align: right" title="Number of options exercised">(22</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zi342NX2mWPj" style="text-align: right" title="Options exercised, weighted average exercise prices per share">5.70</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="padding-left: 10pt">Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zDSIe0yY9jR4" style="text-align: right" title="Number of options forfeited">(1</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zOGp7RadARpj" style="text-align: right" title="Options forfeited, weighted average exercise prices per share">9.91</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zf3w6VN8ErK8" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options expired">(143</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_ziEwc2oL68e6" style="padding-bottom: 1pt; text-align: right" title="Options expired, weighted average exercise prices per share">7.66</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="padding-bottom: 2.5pt">Outstanding at March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zMErDo8rpGoj" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of outstanding, ending balance">2,850</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zLTCqb37bzj9" style="border-bottom: Black 2.5pt double; text-align: right" title="Outstanding, weighted average exercise prices per share, ending balance">6.43</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zn2KcBBMgJ93" title="Options outstanding, weighted average remaining contractual term">4.75</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_pn3n3_c20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zLnO4hRrEdAi" style="border-bottom: Black 2.5pt double; text-align: right" title="Options outstanding, intrinsic value">149</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Exercisable at March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pn3n3_c20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zcb9un5xNwpa" style="border-bottom: Black 2.5pt double; text-align: right" title="Options exercisable">2,276</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pip0_c20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zgUMJpOoHPEi" style="border-bottom: Black 2.5pt double; text-align: right" title="Options exercisable, weighted average exercise prices per share">6.75</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zUl7BY4IMrc7" title="Options exercisable, weighted average remaining contractual term">3.76</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_pn3n3_c20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zBh8KtcRs541" style="border-bottom: Black 2.5pt double; text-align: right" title="Options exercisable, intrinsic value">25</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_z7RQ6YLd2055" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The intrinsic value is based on the Company’s closing stock price of $<span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_z4vuN5IitlT9" title="Intrinsic value is based closing stock price">3.81</span> on March 31, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Performance-based Stock Options:</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In March 2026, the Company began issuing performance-based stock options (“PSOs”) to certain employees. The PSOs include both time-based and stock-price-based vesting thresholds, with 25% of the PSO time-vesting one year after the grant date and the remaining PSOs time-vesting over the next three years, but the PSOs only vest and become exercisable if the volume-weighted average price of the Company’s common stock as quoted on the Nasdaq Stock Market over any 30 consecutive trading days during the five-year period from the date of grant exceeds the stock-price hurdles specified in the PSO awards. The stock-price hurdles for PSOs granted during the three months ended March 31, 2026 were $<span id="xdx_906_ecustom--StockpriceHurdles_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptions1Member_zVs8KffuArf" title="Stock price hurdles">7.50</span>, $<span id="xdx_907_ecustom--StockpriceHurdles_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptions2Member_zCnOydz5CK2g">12.50</span> and $<span id="xdx_905_ecustom--StockpriceHurdles_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptions3Member_zkA4btPQkEvb">20.00</span>. The fair value of these PSOs was estimated using a Monte Carlo simulation and the stock compensation expense is amortized over the requisite service period for each tranche, which is the longer of the derived service period or the explicit service period. The average grant date fair value was determined to be $<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zCttidwVp2ka">3.87</span> on the day of grant. The following table summarizes PSO activity during the three months ended March 31, 2026 (in thousands except exercise prices and contractual terms):</p> <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfStockOptionsRollForwardTableTextBlock_hus-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zxSPICUPwRZ4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - STOCK BASED COMPENSATION (Details - Performance-based stock options activity)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt"><span id="xdx_8B4_zXfGYmRpMqsg" style="display: none">Schedule of performance based stock option activity</span></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><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"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Number of</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Shares</b></p></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"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Weighted-</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Average</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Exercise</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Prices per Share</b></p></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"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Weighted-<br/> Average</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Remaining</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Contractual</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Term (In Years)</b></p></td><td style="padding-bottom: 1pt"> </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">Intrinsic<br/> Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Outstanding at January 1, 2026</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pn3n3_d0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_z1ZGjM9QYZ4e" style="text-align: right" title="Number of Shares, Beginning balance">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pip0_d0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zgFB0TC5AbAg" style="text-align: right" title="Weighted average exerciseprices per share, Beginning balance">–</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="padding-left: 10pt; width: 32%; padding-bottom: 1pt">Granted</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zB1UQbnIqQSj" style="border-bottom: Black 1pt solid; width: 13%; text-align: right" title="Number of Shares, granted">736</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zlDmvS3kzZvi" style="padding-bottom: 1pt; width: 13%; text-align: right" title="Weighted average exerciseprices per share, granted">5.10</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 13%; text-align: right"> </td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 13%; text-align: right"> </td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Outstanding at March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_ziW7n8S92T0d" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares, Ending balance">736</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zXN76GfPVala" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise prices per share, Ending balance">5.10</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"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_z3mV0gEgz8Tf" title="Weighted average remaining contractual term">4.95</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_pn3n3_d0_c20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zshUvBsbi0zg" style="border-bottom: Black 2.5pt double; text-align: right" title="Intrinsic value">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zDnxshx5kmoa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The intrinsic value is based on the Company’s closing stock price of $<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zGAdXn84PrA2" title="Intrinsic value is based closing stock price">3.81</span> on March 31, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Restricted Stock Awards:</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company has issued restricted stock awards to employees, directors and consultants and estimates the fair value based on the closing price on the day of grant. The following table summarizes all restricted stock award activity during the three months ended March 31, 2026 (in thousands except per share data):</p> <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_zkXVJ24nkYOf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - STOCK BASED COMPENSATION (Details - Restricted stock)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B8_zQEFlRPQEkNa" style="display: none">Schedule of restricted stock activity</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 3.4pt 0 0; text-align: center"><b>Number of</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 3.4pt 0 0; text-align: center"><b>Shares</b></p></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"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 3.4pt 0 0; text-align: center"><b>Weighted-Average</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 3.4pt 0 0; text-align: center"><b>Grant Date Fair Value per Share</b></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%">Outstanding at January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z3ocMhgllfM4" style="width: 13%; text-align: right" title="Number of restricted stock shares, Beginning balance">234</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zla3FODIqbEd" style="width: 13%; text-align: right" title="Weighted average grant date fair value per share, Beginning balance">6.90</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zk3fJjahFiZe" style="text-align: right" title="Number of restricted stock shares, vested">(42</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zBBeUOEgboZ5" style="text-align: right" title="Weighted average grant date fair value per share, vested">8.74</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zDkzfJzrnYr8" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock shares, forfeited">(7</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zumCbVHSwqj1" style="padding-bottom: 1pt; text-align: right" title="Weighted average grant date fair value per share, forfeited">6.49</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding non-vested shares at March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_ztwnoNUqnp73" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of restricted stock shares, Ending balance">185</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zP5L4ipXWRVh" style="border-bottom: Black 2.5pt double; text-align: right" title="weighted average grant date fair value per share, Ending balance">6.49</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zGj27DMdns2d" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Restricted Stock Units:</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company issues restricted stock units (“RSUs”) to employees, directors and consultants and a portion of the RSUs issued are subject to time-based vesting and a portion are subject to performance-based vesting criteria. The fair value of time-based RSUs is based on the closing price on the day of grant and they vest over zero to four years. Awards of performance-based restricted stock units by the Company have a performance period of one, two or three years with the vesting of each award tranche dependent on the Company’s Total Shareholder Return (“TSR”) relative to the TSR of companies in the Russell 2000 Index over that tranche’s performance period. The fair value for performance-based awards is fixed at the grant date using a Monte Carlo simulation and the amount of compensation expense is not adjusted during the performance period regardless of changes in the level of TSR achievement. The following table summarizes all restricted stock unit activity during the three months ended March 31, 2026 (in thousands except per share data):</p> <table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zH6QZFD1tkgc" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - STOCK BASED COMPENSATION (Details - Restricted stock units)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B6_zMkMZJqat085" style="display: none">Schedule of restricted stock unit activity</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </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">Time-Based<br/> Units</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">Performance-<br/> Based Units</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">Total Restricted Stock Units</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">Weighted-Average Grant Date Fair Value per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 32%">Outstanding at January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pn3n3_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--TimeBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zn5wMiLgn2F" style="width: 13%; text-align: right" title="Number of restricted stock unit shares outstanding, beginning balance">387</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_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pn3n3_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--PerformanceBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zyMqB1AghaAa" style="width: 13%; text-align: right" title="Number of restricted stock unit shares outstanding, beginning balance">221</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--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zFSC7c3OsgBj" style="width: 13%; text-align: right" title="Number of restricted stock unit shares outstanding, beginning balance">608</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zwjwZG0tKoy5" style="width: 13%; text-align: right" title="Weighted average grant date fair value per share restricted stock unit, Beginning balance">7.62</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pn3n3_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--TimeBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEdEAU0w2ql6" style="text-align: right" title="Number of restricted stock units shares, granted">454</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pn3n3_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--PerformanceBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zhC30EH1p4Ne" style="text-align: right" title="Number of restricted stock units shares, granted">277</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zLXX33mYIyB3" style="text-align: right" title="Number of restricted stock units shares, granted">731</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEg7mGY0lIKe" style="text-align: right" title="Weighted average grant date fair value per share restricted stock unit, granted">6.81</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--TimeBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zzGvnMpUHM5k" style="text-align: right" title="Number of restricted stock units shares, vested">(27</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pn3n3_di0_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--PerformanceBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zeBCPhYSEfa7" style="text-align: right" title="Number of restricted stock units shares, vested">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zWGR62xIYDV1" style="text-align: right" title="Number of restricted stock units shares, vested">(27</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zilkoPo6Hfaf" style="text-align: right" title="Weighted average grant date fair value per share restricted stock unit, vested">6.34</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--TimeBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ziV3oZ8XKLd7" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units shares, forfeited">(47</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--PerformanceBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z5mxF9fuZpHj" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units shares, forfeited">(74</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zMio7HtaXKik" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units shares, forfeited">(121</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_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z3kjZUTuYQ" style="padding-bottom: 1pt; text-align: right" title="Weighted average grant date fair value per share restricted stock unit, forfeited">7.07</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Outstanding at March 31, 2026</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--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pn3n3_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--TimeBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z9nD8VBxnRG8" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of restricted stock unit shares outstanding, ending balance">767</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pn3n3_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--PerformanceBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ze9fET7xvoE9" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of restricted stock unit shares outstanding, ending balance">424</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zwstuZVSroX5" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of restricted stock unit shares outstanding, ending balance">1,191</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zPXfpNUWiDch" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average grant date fair value per share restricted stock unit, Ending balance">7.21</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AF_zeOeR2EuyXng" style="margin-top: 0; margin-bottom: 0"> </p> 3750000 2000000 1750000 777000 <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_pn3n3_zWJhwzAyGD54" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - STOCK BASED COMPENSATION (Details - Compensation expense)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8BA_zsgFZZnA1rv8" style="display: none">Schedule of stock-based compensation expense</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </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">Three Months Ended<br/> March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">2026</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">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensation_pn3n3_c20260101__20260331__us-gaap--NatureOfExpenseAxis__custom--ResearchAndDevelopmentMember_z2y9UpbClBeb" style="width: 13%; text-align: right" title="Stock-based compensation expense">534</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensation_pn3n3_c20250101__20250331__us-gaap--NatureOfExpenseAxis__custom--ResearchAndDevelopmentMember_z81EvE2djBUl" style="width: 13%; text-align: right" title="Stock-based compensation expense">459</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General and administrative</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensation_pn3n3_c20260101__20260331__us-gaap--NatureOfExpenseAxis__custom--GeneralAndAdministrativeMember_zka5ztfe8Aq3" style="text-align: right" title="Stock-based compensation expense">829</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensation_pn3n3_c20250101__20250331__us-gaap--NatureOfExpenseAxis__custom--GeneralAndAdministrativeMember_z3zWPK79W9W7" style="text-align: right" title="Stock-based compensation expense">599</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Selling and marketing</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensation_pn3n3_c20260101__20260331__us-gaap--NatureOfExpenseAxis__custom--SellingAndMarketingMember_zw9qAXYtvSQ8" style="border-bottom: Black 1pt solid; text-align: right" title="Stock-based compensation expense">43</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensation_pn3n3_c20250101__20250331__us-gaap--NatureOfExpenseAxis__custom--SellingAndMarketingMember_zIoKp1bNZhu7" style="border-bottom: Black 1pt solid; text-align: right" title="Stock-based compensation expense">(49</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensation_pn3n3_c20260101__20260331_zHXIIJ0swna3" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock-based compensation expense">1,406</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensation_pn3n3_c20250101__20250331_zmPM3GNqBKXh" style="border-bottom: Black 2.5pt double; text-align: right" title="Stock-based compensation expense">1,009</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 534000 459000 829000 599000 43000 -49000 1406000 1009000 13200000 P2Y3M18D 4.39 0 <table cellpadding="0" cellspacing="0" id="xdx_890_eus-gaap--ScheduleOfStockOptionsRollForwardTableTextBlock_zpy5kzfFlWxb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - STOCK BASED COMPENSATION (Details - Time-based stock options activity)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B7_zRjUqu0BOh76" style="display: none">Schedule of time based stock option activity</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Number of</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Shares</b></p></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"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Weighted-</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Average</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Exercise</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Prices per Share</b></p></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"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Weighted-<br/> Average</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Remaining</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Contractual</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Term (In Years)</b></p></td><td style="padding-bottom: 1pt"> </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">Intrinsic<br/> Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 32%">Outstanding at January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zdVdIrs9MAPf" style="width: 13%; text-align: right" title="Number of outstanding, beginning balance">2,907</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zot3mUw1NZwj" style="width: 13%; text-align: right" title="Outstanding, weighted average exercise prices per share, beginning balance">6.53</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_z4F0PiDNr2Al" style="text-align: right" title="Number of options granted">109</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zmKbmuiq3r98" style="text-align: right" title="Options granted, weighted average exercise prices per share">5.24</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(238,238,238)"> <td style="padding-left: 10pt">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pn3n3_di_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zNqxJpZEjLR1" style="text-align: right" title="Number of options exercised">(22</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zi342NX2mWPj" style="text-align: right" title="Options exercised, weighted average exercise prices per share">5.70</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zDSIe0yY9jR4" style="text-align: right" title="Number of options forfeited">(1</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zOGp7RadARpj" style="text-align: right" title="Options forfeited, weighted average exercise prices per share">9.91</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(238,238,238)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zf3w6VN8ErK8" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options expired">(143</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_ziEwc2oL68e6" style="padding-bottom: 1pt; text-align: right" title="Options expired, weighted average exercise prices per share">7.66</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding at March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zMErDo8rpGoj" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of outstanding, ending balance">2,850</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zLTCqb37bzj9" style="border-bottom: Black 2.5pt double; text-align: right" title="Outstanding, weighted average exercise prices per share, ending balance">6.43</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"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zn2KcBBMgJ93" title="Options outstanding, weighted average remaining contractual term">4.75</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_pn3n3_c20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zLnO4hRrEdAi" style="border-bottom: Black 2.5pt double; text-align: right" title="Options outstanding, intrinsic value">149</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Exercisable at March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pn3n3_c20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zcb9un5xNwpa" style="border-bottom: Black 2.5pt double; text-align: right" title="Options exercisable">2,276</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pip0_c20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zgUMJpOoHPEi" style="border-bottom: Black 2.5pt double; text-align: right" title="Options exercisable, weighted average exercise prices per share">6.75</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"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zUl7BY4IMrc7" title="Options exercisable, weighted average remaining contractual term">3.76</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_pn3n3_c20260331__us-gaap--AwardTypeAxis__custom--TimeBasedStockOptionMember_zBh8KtcRs541" style="border-bottom: Black 2.5pt double; text-align: right" title="Options exercisable, intrinsic value">25</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 2907000 6.53 109000 5.24 22000 5.70 1000 9.91 143000 7.66 2850000 6.43 P4Y9M 149000 2276000 6.75 P3Y9M3D 25000 3.81 7.50 12.50 20.00 3.87 <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--ScheduleOfStockOptionsRollForwardTableTextBlock_hus-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zxSPICUPwRZ4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - STOCK BASED COMPENSATION (Details - Performance-based stock options activity)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt"><span id="xdx_8B4_zXfGYmRpMqsg" style="display: none">Schedule of performance based stock option activity</span></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><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"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Number of</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Shares</b></p></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"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Weighted-</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Average</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Exercise</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Prices per Share</b></p></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"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Weighted-<br/> Average</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Remaining</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Contractual</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><b>Term (In Years)</b></p></td><td style="padding-bottom: 1pt"> </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">Intrinsic<br/> Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Outstanding at January 1, 2026</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pn3n3_d0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_z1ZGjM9QYZ4e" style="text-align: right" title="Number of Shares, Beginning balance">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pip0_d0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zgFB0TC5AbAg" style="text-align: right" title="Weighted average exerciseprices per share, Beginning balance">–</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="padding-left: 10pt; width: 32%; padding-bottom: 1pt">Granted</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zB1UQbnIqQSj" style="border-bottom: Black 1pt solid; width: 13%; text-align: right" title="Number of Shares, granted">736</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zlDmvS3kzZvi" style="padding-bottom: 1pt; width: 13%; text-align: right" title="Weighted average exerciseprices per share, granted">5.10</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 13%; text-align: right"> </td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 13%; text-align: right"> </td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Outstanding at March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_ziW7n8S92T0d" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares, Ending balance">736</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zXN76GfPVala" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise prices per share, Ending balance">5.10</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"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_z3mV0gEgz8Tf" title="Weighted average remaining contractual term">4.95</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_pn3n3_d0_c20260331__us-gaap--AwardTypeAxis__custom--PerformanceBasedStockOptionsMember_zshUvBsbi0zg" style="border-bottom: Black 2.5pt double; text-align: right" title="Intrinsic value">–</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 0 0 736000 5.10 736000 5.10 P4Y11M12D 0 3.81 <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_zkXVJ24nkYOf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - STOCK BASED COMPENSATION (Details - Restricted stock)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B8_zQEFlRPQEkNa" style="display: none">Schedule of restricted stock activity</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 3.4pt 0 0; text-align: center"><b>Number of</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 3.4pt 0 0; text-align: center"><b>Shares</b></p></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"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 3.4pt 0 0; text-align: center"><b>Weighted-Average</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 3.4pt 0 0; text-align: center"><b>Grant Date Fair Value per Share</b></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%">Outstanding at January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z3ocMhgllfM4" style="width: 13%; text-align: right" title="Number of restricted stock shares, Beginning balance">234</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zla3FODIqbEd" style="width: 13%; text-align: right" title="Weighted average grant date fair value per share, Beginning balance">6.90</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zk3fJjahFiZe" style="text-align: right" title="Number of restricted stock shares, vested">(42</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zBBeUOEgboZ5" style="text-align: right" title="Weighted average grant date fair value per share, vested">8.74</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zDkzfJzrnYr8" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock shares, forfeited">(7</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zumCbVHSwqj1" style="padding-bottom: 1pt; text-align: right" title="Weighted average grant date fair value per share, forfeited">6.49</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding non-vested shares at March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_ztwnoNUqnp73" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of restricted stock shares, Ending balance">185</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zP5L4ipXWRVh" style="border-bottom: Black 2.5pt double; text-align: right" title="weighted average grant date fair value per share, Ending balance">6.49</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 234000 6.90 42000 8.74 7000 6.49 185000 6.49 <table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zH6QZFD1tkgc" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - STOCK BASED COMPENSATION (Details - Restricted stock units)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B6_zMkMZJqat085" style="display: none">Schedule of restricted stock unit activity</span></td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </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">Time-Based<br/> Units</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">Performance-<br/> Based Units</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">Total Restricted Stock Units</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">Weighted-Average Grant Date Fair Value per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 32%">Outstanding at January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pn3n3_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--TimeBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zn5wMiLgn2F" style="width: 13%; text-align: right" title="Number of restricted stock unit shares outstanding, beginning balance">387</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_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pn3n3_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--PerformanceBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zyMqB1AghaAa" style="width: 13%; text-align: right" title="Number of restricted stock unit shares outstanding, beginning balance">221</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--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zFSC7c3OsgBj" style="width: 13%; text-align: right" title="Number of restricted stock unit shares outstanding, beginning balance">608</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zwjwZG0tKoy5" style="width: 13%; text-align: right" title="Weighted average grant date fair value per share restricted stock unit, Beginning balance">7.62</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pn3n3_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--TimeBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEdEAU0w2ql6" style="text-align: right" title="Number of restricted stock units shares, granted">454</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pn3n3_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--PerformanceBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zhC30EH1p4Ne" style="text-align: right" title="Number of restricted stock units shares, granted">277</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zLXX33mYIyB3" style="text-align: right" title="Number of restricted stock units shares, granted">731</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEg7mGY0lIKe" style="text-align: right" title="Weighted average grant date fair value per share restricted stock unit, granted">6.81</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--TimeBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zzGvnMpUHM5k" style="text-align: right" title="Number of restricted stock units shares, vested">(27</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pn3n3_di0_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--PerformanceBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zeBCPhYSEfa7" style="text-align: right" title="Number of restricted stock units shares, vested">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zWGR62xIYDV1" style="text-align: right" title="Number of restricted stock units shares, vested">(27</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zilkoPo6Hfaf" style="text-align: right" title="Weighted average grant date fair value per share restricted stock unit, vested">6.34</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--TimeBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ziV3oZ8XKLd7" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units shares, forfeited">(47</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--PerformanceBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z5mxF9fuZpHj" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units shares, forfeited">(74</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pn3n3_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zMio7HtaXKik" style="border-bottom: Black 1pt solid; text-align: right" title="Number of restricted stock units shares, forfeited">(121</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_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z3kjZUTuYQ" style="padding-bottom: 1pt; text-align: right" title="Weighted average grant date fair value per share restricted stock unit, forfeited">7.07</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Outstanding at March 31, 2026</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--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pn3n3_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--TimeBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z9nD8VBxnRG8" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of restricted stock unit shares outstanding, ending balance">767</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pn3n3_c20260101__20260331__us-gaap--StatementClassOfStockAxis__custom--PerformanceBasedUnitsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ze9fET7xvoE9" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of restricted stock unit shares outstanding, ending balance">424</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zwstuZVSroX5" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of restricted stock unit shares outstanding, ending balance">1,191</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pip0_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zPXfpNUWiDch" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average grant date fair value per share restricted stock unit, Ending balance">7.21</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 387000 221000 608000 7.62 454000 277000 731000 6.81 27000 -0 27000 6.34 47000 74000 121000 7.07 767000 424000 1191000 7.21 <p id="xdx_807_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zO0Yug1aiwp4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>9.</b></span></td> <td style="width: 95%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_82A_zBTbDdsJ9g89">COMMITMENTS AND CONTINGENCIES</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Litigation, Claims and Assessments</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company may be subject to periodic lawsuits, investigations and claims that arise in the ordinary course of business. The Company is not party to any material litigation as of March 31, 2026, or through the date these financial statements have been issued.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_807_eus-gaap--SegmentReportingDisclosureTextBlock_zLRIhYBVR4wi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10.</b></span></td> <td style="width: 95%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_822_zLeCqXjEKIHk">SEGMENT INFORMATION</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company operates as a <span id="xdx_90C_eus-gaap--NumberOfOperatingSegments_dxL_uInteger_c20260101__20260331_zVbr90oGlXhf" title="Number of operating segments::XDX::1"><span style="-sec-ix-hidden: xdx2ixbrl0917">single</span></span> operating segment. The Company’s chief operating decision maker (“CODM”) is its chief executive officer and chief financial officer who review financial information. The CODM uses total operating expense, operating margin and related impact on cash consumption to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions, such as the determination of the overall headcount, allocation of headcount, research and development expenditures, licensing and royalty rates offered to customers and capital expenditure commitments. The measure of assets is reported on the accompanying condensed balance sheets as total assets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following table presents selected financial information with respect to the Company’s single operating segment for the three months ended March 31, 2026 and 2025:</p> <table cellpadding="0" cellspacing="0" id="xdx_89C_eus-gaap--ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock_pn3n3_zRbbBRw1tSg4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SEGMENT INFORMATION (Details)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B1_zrc7WhmbFxA6" style="display: none">Schedule of selected financial information</span></td><td> </td> <td colspan="2" id="xdx_49E_20260101__20260331_z1XjKCYHUv61" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_49B_20250101__20250331_zobNDWEnRQu2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 0; text-align: center"><b>Three Months Ended</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 0; text-align: center"><b>March 31,</b></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">2026</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">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_d0_zbRJJLRSVkzd" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">11</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">4</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingCostsAndExpensesAbstract_iB_zOM8i6HiqcE" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less expenses <sup id="xdx_F4F_zhplQrFxVuU9">(1)</sup>:</span></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(238,238,238)"> <td style="padding-left: 10pt; text-align: left">Employee related expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LaborAndRelatedExpense_pn3n3_c20260101__20260331_fKDEp_zEoXhi5NLLOf" style="text-align: right" title="Employee related expenses">2,204</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LaborAndRelatedExpense_pn3n3_c20250101__20250331_fKDEp_zD6Ecd1v6R4c" style="text-align: right" title="Employee related expenses">1,787</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_c20260101__20260331_fKDEp_zzzT80Y7r6Af" style="text-align: right" title="Stock-based compensation">1,406</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_c20250101__20250331_fKDEp_zlJBRBF9sFed" style="text-align: right" title="Stock-based compensation">1,009</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left">Travel and entertainment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--TravelAndEntertainmentExpense_pn3n3_c20260101__20260331_fKDEp_zPD3MZ3BGPSa" style="text-align: right" title="Travel and entertainment">48</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--TravelAndEntertainmentExpense_pn3n3_c20250101__20250331_fKDEp_zq1yDd2xeLMb" style="text-align: right" title="Travel and entertainment">70</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Tool related expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--ToolRelatedExpenses_pn3n3_c20260101__20260331_fKDEp_ztA9vBIhVvuf" style="text-align: right" title="Tool related expenses">577</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--ToolRelatedExpenses_pn3n3_c20250101__20250331_fKDEp_zwcQfSMA0Jj7" style="text-align: right" title="Tool related expenses">611</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left">Consulting expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ProfessionalAndContractServicesExpense_pn3n3_c20260101__20260331_fKDEp_zSc2LjcehC5i" style="text-align: right" title="Consulting expenses">207</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ProfessionalAndContractServicesExpense_pn3n3_c20250101__20250331_fKDEp_zKEf4OSyHvb1" style="text-align: right" title="Consulting expenses">150</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Metrology and other outsourced research expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--OtherResearchAndDevelopmentExpense_pn3n3_c20260101__20260331_fKDEp_znXliChqmSnc" style="text-align: right" title="Metrology and other outsourced research expenses">559</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--OtherResearchAndDevelopmentExpense_pn3n3_c20250101__20250331_fKDEp_zE1bfMd7xqYe" style="text-align: right" title="Metrology and other outsourced research expenses">461</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left">Intellectual property related expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--IntellectualPropertyRelatedExpenses_pn3n3_c20260101__20260331_fKDEp_zWzCjrx9A7I2" style="text-align: right" title="Intellectual property related expenses">230</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--IntellectualPropertyRelatedExpenses_pn3n3_c20250101__20250331_fKDEp_zR4VXJiFipJd" style="text-align: right" title="Intellectual property related expenses">351</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other operating items<sup id="xdx_F4A_zhMzupw8rtX1">(2)</sup></span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--OtherCostAndExpenseOperating_pn3n3_c20260101__20260331_fKDEpKDIp_zfBdUFZedvP3" style="border-bottom: Black 1pt solid; text-align: right" title="Other operating items">1,104</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherCostAndExpenseOperating_pn3n3_c20250101__20250331_fKDEpKDIp_znMqeEWOEqO1" style="border-bottom: Black 1pt solid; text-align: right" title="Other operating items">1,028</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingIncomeLoss_pn3n3_zrkafRUocWFa" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Loss from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,324</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,463</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--NonoperatingIncomeExpense_pn3n3_zRmMsdWLVQMh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other income (expense), 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">251</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">254</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLoss_pn3n3_zrVXJp7nXLw4" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(6,073</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(5,209</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 3%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup id="xdx_F05_zBZ3Z9m8FMMh">(1)</sup></span></td> <td style="width: 97%"> <p id="xdx_F12_zt5VlR8CpHsl" style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.5pt 0 0; text-align: justify">Expenses classified as cost of revenue are included in the line items presented and not as a separate category.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.5pt 0 0; text-align: justify"> </p></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup id="xdx_F04_zElmz2aCfnFl">(2)</sup></span></td> <td style="text-align: justify"><span id="xdx_F16_ziVKh62r2Rhj" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other operating expenses include items not listed above separately. These include travel and entertainment, professional development, information technology costs, office related costs, depreciation, other research and development costs, other sales and marketing costs and other general and administrative costs.</span></td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_89C_eus-gaap--ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock_pn3n3_zRbbBRw1tSg4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SEGMENT INFORMATION (Details)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B1_zrc7WhmbFxA6" style="display: none">Schedule of selected financial information</span></td><td> </td> <td colspan="2" id="xdx_49E_20260101__20260331_z1XjKCYHUv61" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" id="xdx_49B_20250101__20250331_zobNDWEnRQu2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 0; text-align: center"><b>Three Months Ended</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 0; text-align: center"><b>March 31,</b></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">2026</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">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_d0_zbRJJLRSVkzd" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">11</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">4</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingCostsAndExpensesAbstract_iB_zOM8i6HiqcE" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less expenses <sup id="xdx_F4F_zhplQrFxVuU9">(1)</sup>:</span></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(238,238,238)"> <td style="padding-left: 10pt; text-align: left">Employee related expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LaborAndRelatedExpense_pn3n3_c20260101__20260331_fKDEp_zEoXhi5NLLOf" style="text-align: right" title="Employee related expenses">2,204</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LaborAndRelatedExpense_pn3n3_c20250101__20250331_fKDEp_zD6Ecd1v6R4c" style="text-align: right" title="Employee related expenses">1,787</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_c20260101__20260331_fKDEp_zzzT80Y7r6Af" style="text-align: right" title="Stock-based compensation">1,406</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_c20250101__20250331_fKDEp_zlJBRBF9sFed" style="text-align: right" title="Stock-based compensation">1,009</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left">Travel and entertainment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--TravelAndEntertainmentExpense_pn3n3_c20260101__20260331_fKDEp_zPD3MZ3BGPSa" style="text-align: right" title="Travel and entertainment">48</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--TravelAndEntertainmentExpense_pn3n3_c20250101__20250331_fKDEp_zq1yDd2xeLMb" style="text-align: right" title="Travel and entertainment">70</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Tool related expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--ToolRelatedExpenses_pn3n3_c20260101__20260331_fKDEp_ztA9vBIhVvuf" style="text-align: right" title="Tool related expenses">577</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--ToolRelatedExpenses_pn3n3_c20250101__20250331_fKDEp_zwcQfSMA0Jj7" style="text-align: right" title="Tool related expenses">611</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left">Consulting expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ProfessionalAndContractServicesExpense_pn3n3_c20260101__20260331_fKDEp_zSc2LjcehC5i" style="text-align: right" title="Consulting expenses">207</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ProfessionalAndContractServicesExpense_pn3n3_c20250101__20250331_fKDEp_zKEf4OSyHvb1" style="text-align: right" title="Consulting expenses">150</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Metrology and other outsourced research expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--OtherResearchAndDevelopmentExpense_pn3n3_c20260101__20260331_fKDEp_znXliChqmSnc" style="text-align: right" title="Metrology and other outsourced research expenses">559</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--OtherResearchAndDevelopmentExpense_pn3n3_c20250101__20250331_fKDEp_zE1bfMd7xqYe" style="text-align: right" title="Metrology and other outsourced research expenses">461</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 10pt; text-align: left">Intellectual property related expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--IntellectualPropertyRelatedExpenses_pn3n3_c20260101__20260331_fKDEp_zWzCjrx9A7I2" style="text-align: right" title="Intellectual property related expenses">230</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--IntellectualPropertyRelatedExpenses_pn3n3_c20250101__20250331_fKDEp_zR4VXJiFipJd" style="text-align: right" title="Intellectual property related expenses">351</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other operating items<sup id="xdx_F4A_zhMzupw8rtX1">(2)</sup></span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--OtherCostAndExpenseOperating_pn3n3_c20260101__20260331_fKDEpKDIp_zfBdUFZedvP3" style="border-bottom: Black 1pt solid; text-align: right" title="Other operating items">1,104</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherCostAndExpenseOperating_pn3n3_c20250101__20250331_fKDEpKDIp_znMqeEWOEqO1" style="border-bottom: Black 1pt solid; text-align: right" title="Other operating items">1,028</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingIncomeLoss_pn3n3_zrkafRUocWFa" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Loss from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,324</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,463</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--NonoperatingIncomeExpense_pn3n3_zRmMsdWLVQMh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Other income (expense), 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">251</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">254</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLoss_pn3n3_zrVXJp7nXLw4" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(6,073</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(5,209</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 3%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup id="xdx_F05_zBZ3Z9m8FMMh">(1)</sup></span></td> <td style="width: 97%"> <p id="xdx_F12_zt5VlR8CpHsl" style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.5pt 0 0; text-align: justify">Expenses classified as cost of revenue are included in the line items presented and not as a separate category.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.5pt 0 0; text-align: justify"> </p></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup id="xdx_F04_zElmz2aCfnFl">(2)</sup></span></td> <td style="text-align: justify"><span id="xdx_F16_ziVKh62r2Rhj" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other operating expenses include items not listed above separately. These include travel and entertainment, professional development, information technology costs, office related costs, depreciation, other research and development costs, other sales and marketing costs and other general and administrative costs.</span></td></tr> </table> 11000 4000 2204000 1787000 1406000 1009000 48000 70000 577000 611000 207000 150000 559000 461000 230000 351000 1104000 1028000 -6324000 -5463000 251000 254000 -6073000 -5209000 <p id="xdx_801_eus-gaap--SubsequentEventsTextBlock_zv8Rvkl8Upn9" style="font: 10pt Times New Roman, Times, Serif; margin: 0">  </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>11.</b></span></td> <td style="width: 95%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_824_zoz5166VZscl">SUBSEQUENT EVENTS</span></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Management has evaluated subsequent events and transactions through the date these financial statements were issued.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> false false false  <div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; width: 31%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name and Position</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: black 1pt solid; width: 22%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Adoption Date</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: black 1pt solid; width: 22%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total Number of <br/> Shares to be Sold</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: black 1pt solid; width: 22%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Expiration Date</b></span></td></tr> <tr style="background-color: #EEEEEE"> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEluc2lkZXIgVHJhZGluZyBBcnJhbmdlbWVudHMA" id="xdx_902_eecd--TrdArrIndName_c20260101__20260331__ecd--IndividualAxis__custom--RobertMearsMember_zN9hKNmZ4fM7">Robert Mears</span>,</span></td> <td> </td> <td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEluc2lkZXIgVHJhZGluZyBBcnJhbmdlbWVudHMA" id="xdx_90A_eecd--Rule10b51ArrAdoptedFlag_dbT_c20260101__20260331__ecd--IndividualAxis__custom--RobertMearsMember_zlBwGvbgKL0g">Adopted</span></span></td> <td> </td> <td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Up to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEluc2lkZXIgVHJhZGluZyBBcnJhbmdlbWVudHMA" id="xdx_908_eecd--TrdArrSecuritiesAggAvailAmt_iI_c20260331__ecd--IndividualAxis__custom--RobertMearsMember_zgDfQRxO2Fca">60,470</span> <b>⁽¹⁾</b></span></td> <td> </td> <td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEluc2lkZXIgVHJhZGluZyBBcnJhbmdlbWVudHMA" id="xdx_900_eecd--TrdArrExpirationDate_c20260101__20260331__ecd--IndividualAxis__custom--RobertMearsMember_zKBjLJGqDdYk">March 19, 2027</span></span></td></tr> <tr style="vertical-align: top; background-color: white"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEluc2lkZXIgVHJhZGluZyBBcnJhbmdlbWVudHMA" id="xdx_90A_eecd--TrdArrIndTitle_c20260101__20260331__ecd--IndividualAxis__custom--RobertMearsMember_zUUaexAqqQ77">Chief Technology Officer</span></span></td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEluc2lkZXIgVHJhZGluZyBBcnJhbmdlbWVudHMA" id="xdx_90E_eecd--TrdArrAdoptionDate_c20260101__20260331__ecd--IndividualAxis__custom--RobertMearsMember_z54lFOuwzuP6">March 9, 2026</span></span></td> <td> </td> <td style="text-align: center"> </td> <td> </td> <td style="text-align: center"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEluc2lkZXIgVHJhZGluZyBBcnJhbmdlbWVudHMA" id="xdx_900_eecd--TrdArrDuration_dtD_c20260101__20260331__ecd--IndividualAxis__custom--RobertMearsMember_zai630ZgNRp6"><b style="display: none">375</b></span> </td></tr> <tr style="background-color: #E8E8E8"> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEluc2lkZXIgVHJhZGluZyBBcnJhbmdlbWVudHMA" id="xdx_904_eecd--TrdArrIndName_c20260101__20260331__ecd--IndividualAxis__custom--RobertMears1Member_zF9rjHDurAQb">Robert Mears</span>,</span></td> <td> </td> <td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEluc2lkZXIgVHJhZGluZyBBcnJhbmdlbWVudHMA" id="xdx_905_eecd--Rule10b51ArrAdoptedFlag_dbT_c20260101__20260331__ecd--IndividualAxis__custom--RobertMears1Member_zblmH5HSYhG">Adopted</span></span></td> <td> </td> <td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Up to <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEluc2lkZXIgVHJhZGluZyBBcnJhbmdlbWVudHMA" id="xdx_900_eecd--TrdArrSecuritiesAggAvailAmt_iI_c20260331__ecd--IndividualAxis__custom--RobertMears1Member_zJHlKl9sI6Rc">86,580</span>⁽²⁾</span></td> <td> </td> <td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEluc2lkZXIgVHJhZGluZyBBcnJhbmdlbWVudHMA" id="xdx_905_eecd--TrdArrExpirationDate_c20260101__20260331__ecd--IndividualAxis__custom--RobertMears1Member_z9DYZSFeQS6f">March 19, 2027</span></span></td></tr> <tr style="vertical-align: top; background-color: white"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEluc2lkZXIgVHJhZGluZyBBcnJhbmdlbWVudHMA" id="xdx_905_eecd--TrdArrIndTitle_c20260101__20260331__ecd--IndividualAxis__custom--RobertMears1Member_zc3OETz0UUZi">Chief Technology Officer</span></span></td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEluc2lkZXIgVHJhZGluZyBBcnJhbmdlbWVudHMA" id="xdx_907_eecd--TrdArrAdoptionDate_c20260101__20260331__ecd--IndividualAxis__custom--RobertMears1Member_z1c4y5wbgTqj">March 9, 2026</span></span></td> <td> </td> <td style="text-align: center"> </td> <td> </td> <td style="text-align: center"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEluc2lkZXIgVHJhZGluZyBBcnJhbmdlbWVudHMA" id="xdx_90D_eecd--TrdArrDuration_dtD_c20260101__20260331__ecd--IndividualAxis__custom--RobertMears1Member_znOYCmPV7bH"><b style="display: none">375</b></span> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 3%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">⁽¹⁾</span></td> <td style="width: 97%"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.5pt 0 0; text-align: justify">The actual number of shares sold will depend on the vesting of restricted stock awards and the number of shares withheld by the Company to satisfy its income tax withholding obligations, and may vary from the approximate number provided. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.5pt 0 0; text-align: justify"> </p></td></tr> <tr style="vertical-align: top"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">⁽²⁾</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The actual number of shares sold is dependent on the exercise of stock options at specific prices with the subsequent sale of the underlying shares at specific price targets.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"> </p> </div> Robert Mears true 60470000 March 19, 2027 Chief Technology Officer March 9, 2026 P375D Robert Mears true 86580000 March 19, 2027 Chief Technology Officer March 9, 2026 P375D Expenses classified as cost of revenue are included in the line items presented and not as a separate category. Other operating expenses include items not listed above separately. These include travel and entertainment, professional development, information technology costs, office related costs, depreciation, other research and development costs, other sales and marketing costs and other general and administrative costs.