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NOTE 1 – ORGANIZATION AND PRINCIPAL ACTIVITIES Ensysce Biosciences, Inc. (“Ensysce”), along with its <span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--EBIRIncMember_zzTfH0j4dyle" title="Ownership percentage">79.2%-owned subsidiary, EBIR, Inc. (“EBIR”, formerly known as Covistat, Inc.) and its wholly-owned subsidiaries EBI Operating, Inc. and EBI OpCo, Inc. (collectively, the “Company”), is a clinical-stage biotech company using its proprietary technology platforms to develop safer prescription drugs. The primary focus of the Company is its program developing abuse and overdose resistant pain technology with a clinical stage program being the abuse resistant, TAAP (Trypsin Activated Abuse Protection) opioid product candidate, PF614. In addition, the Company is developing its MPAR® (Multi-Pill Abuse Resistance) technology for overdose protection which will be applied to the PF614 program. The Company is also applying its TAAP and MPAR® technology to a methadone prodrug for use in the treatment of Opioid Use Disorder.

0.792

NOTE 2 - BASIS OF PRESENTATION The consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The consolidated financial statements include the accounts of Ensysce Biosciences, Inc. and its subsidiaries. All intercompany balances and transactions have been eliminated in the consolidation. Going Concern The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company has not generated any product revenue. There is no assurance that profitable operations will ever be achieved, and, if achieved, would be sustained on a continuing basis. Product development activities, clinical and pre-clinical testing, and commercialization of the Company’s product candidates are necessary to develop the Company’s products and will require significant additional financing. There can be no assurance the Company will be able to obtain such funds. These matters, among others, raise substantial doubt about the Company’s ability to continue as a going concern. While the Company believes in the viability of its strategy to ultimately realize revenues and in its ability to raise additional funds, management cannot be certain that additional funding will be available on acceptable terms, or at all. The Company’s ability to continue as a going concern is dependent upon its ability to obtain adequate financing and achieve profitable operations. As a result, these plans do not alleviate substantial doubt about the Company’s ability to continue as a going concern for a period of 12 months following the date these consolidated financial statements were issued. The consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates and Assumptions Preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and disclosed in the accompanying notes. Actual results may differ from those estimates and such differences may be material to the consolidated financial statements. The more significant estimates and assumptions by management include, but are not limited to, the expense recognition for certain accrued research and development services. Cash and Cash Equivalents For purposes of the consolidated balance sheets and consolidated statements of cash flows, the Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. Concentrations of Credit Risk and Off-Balance Sheet Risk Cash and cash equivalents are financial instruments that are potentially subject to concentrations of credit risk. The Company’s cash and cash equivalents are deposited in accounts at large financial institutions and amounts currently exceed federally insured limits. The Company has no financial instruments with off-balance sheet risk of loss. Additionally, the Company had a concentration in accounts payable, as three research and development vendors made up greater than 10% individually, and <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260331__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__srt--MajorCustomersAxis__custom--CustomerMember_z1LgGgJw7Klf" title="Concentration of risk">78% and <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250101__20251231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__srt--MajorCustomersAxis__custom--CustomerMember_zvdaZOMXUd46" title="Concentration of risk">82% in aggregate, of the outstanding accounts payable balance as of March 31, 2026, and December 31, 2025, respectively. Segments The Company operates and manages its business as one reportable and operating segment. Operating segments are defined as components of an enterprise where separate financial information is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and assess performance. The Company’s CODM is the Chief Executive Officer, who reviews consolidated financial information on a company-wide basis for purposes of allocating resources and assessing financial performance and does not regularly review expenses or financial results on a more granular level. Property and Equipment Property and equipment are recorded at cost and depreciated using the straight-line method over an estimated useful life of five years. As of March 31, 2026, property and equipment consists of laboratory equipment. During the three months ended March 31, 2026, the Company recognized depreciation expense of $6,533. There was no property and equipment as of March 31, 2025, and as such, there was no depreciation expense recognized during the three months ended March 31, 2025. Fair Value Measurement ASC 820, Fair Value Measurements, (“ASC 820”) provides guidance on the development and disclosure of fair value measurements. Under this accounting guidance, fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The accounting guidance classifies fair value measurements in one of the following three categories for disclosure purposes: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in; text-align: justify">Level 1:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Quoted prices in active markets for identical assets or liabilities.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Unobservable inputs which are supported by little or no market activity and values determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.</td></tr> </table> The Company evaluates assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level at which to classify them for each reporting period. This determination requires significant judgments to be made by the Company. As of March 31, 2026, and December 31, 2025, the recorded values of cash and cash equivalents, prepaid expenses, accounts payable, and accrued expenses and other liabilities approximate their fair values due to the short-term nature of these items. Federal Grants In September 2018, the NIH through NIDA awarded the Company a research and development MPAR Grant. The initial grant was extended several times and cumulative funding under this grant of approximately $10.7 million was completed in December 2023. A second multi-year MPAR Grant was awarded by NIH through NIDA in August 2024, providing total funding of $15.1 million through May 2027, as adjusted. As of March 31, 2026, remaining funding under the grant is $6.0 million. In September 2019, the NIH/NIDA awarded the Company a third research and development grant related to the development of its TAAP/MPAR abuse deterrent technology for OUD Grant. The total approved budget was approximately $5.4 million, and the grant period ended August 31, 2024. The Company recognizes revenue when costs related to the grants are incurred and assessed as reimbursable. The Company believes this policy is consistent with the overarching premise in Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (“ASC 606”), applied by analogy, to ensure that it recognizes revenues to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services, even though there is no “exchange” as defined in ASC 606. The Company believes the recognition of revenue as costs are incurred, and reimbursable amounts become due is analogous to the concept of transfer of control of a service over time under ASC 606. <p id="xdx_89F_ecustom--ScheduleOfRevenueRecognitionUnderGrantsTableTextBlock_ze9g2mq3xqZ4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">The revenue recognized under the MPAR Grant and OUD Grant was as follows: SCHEDULE OF REVENUE RECOGNITION UNDER GRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="display: none; font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260101__20260331_zipNQSbItjMh" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20250331_z8rWztPvHFm3" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_hsrt--ProductOrServiceAxis__custom--MPARMember_zlsJAApEXZsj" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 56%; text-align: justify">MPAR</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">960,999</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">1,319,772</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_hsrt--ProductOrServiceAxis__custom--TAAPOUDMember_z1hkZYyqufb6" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: justify">TAAP/OUD</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_z4TJ2Z4SAXGb" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: justify">Total</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">960,999</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">1,319,772</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Amounts requested or eligible to be requested through the NIH payment management system, but for which cash has not been received, are presented as an unbilled receivable on the Company’s consolidated balance sheet. As all amounts are expected to be remitted timely, no valuation allowances are recorded. Unbilled receivable from the MPAR Grant consisted of the following: SCHEDULE OF UNBILLED RECEIVABLE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260101__20260331_zoWI8qEYEaMd" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250101__20251231_zgD4DBNR4zc1" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--UnbilledReceivablesCurrent_iS_zXA8ZtGnfdc3" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 60%; text-align: left">Unbilled receivable - beginning</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">420,345</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">124,115</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--UnbilledReceivablesCurrent_iE_zC2H93vzcOJl" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif">Unbilled receivable - ending</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">420,345</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> Research and Development Costs The Company’s research and development expenses consist primarily of third-party research and development expenses, consulting expenses, preclinical and clinical studies, and any allocable direct overhead, including facilities and depreciation costs, as well as salaries, payroll taxes, and employee benefits for those individuals directly involved in ongoing research and development efforts. Research and development expenses are charged to expense as incurred. Payments made prior to the receipt of goods or services to be used in research and development are capitalized until the goods or services are received. General and Administrative Expenses General and administrative expenses consist primarily of personnel costs associated with the Company’s executive, finance, human resources, compliance, and other administrative personnel, as well as accounting and legal professional services fees. Stock-based Compensation The Company expenses stock-based compensation over the requisite service period based on the estimated grant-date fair value of the awards using a graded amortization approach. The Company accounts for forfeitures as they occur. The Company estimates the fair value of stock option grants using the Black-Scholes option pricing model. The assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. Stock-based compensation costs are recorded in research and development and general and administrative expenses in the consolidated statements of operations. From time-to-time equity classified awards may be modified. On the modification date, the Company estimates the fair value of the awards immediately before and immediately after modification. The incremental increase in fair value is recognized as expense immediately to the extent the underlying equity awards are vested and on a straight-line basis over the same remaining amortization schedule as the unvested underlying equity awards. Income Taxes Income taxes are recorded in accordance with ASC 740, Income Taxes (“ASC 740”), which provides for deferred taxes using an asset and liability approach. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements or tax returns. Deferred tax assets and liabilities are determined based on the difference between the consolidated financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are provided if, based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit would more likely than not be realized assuming examination by the taxing authority. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. The Company recognizes any interest and penalties accrued related to unrecognized tax benefits as income tax expense. Earnings (loss) per Share The basic earnings (loss) per share is calculated by dividing the Company’s net income or loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. The diluted earnings (loss) per share is calculated by dividing the Company’s net earnings attributable to common stockholders by the diluted weighted average number of common shares outstanding during the period, determined using the treasury stock method and the average stock price during the period. <p id="xdx_895_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zEphSnGFhnU7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following weighted average shares have been excluded from the calculations of diluted weighted average common shares outstanding because they would have been anti-dilutive (the Company has utilized the principal balance outstanding and the end of period conversion price for the Convertible Notes for the purposes of the weighted average share calculation below): SCHEDULE OF WEIGHTED AVERAGE SHARES OF ANTI-DILUTIVE SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260101__20260331_zSqlLlQGNLp5" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20250331_z5NAAiyU1OSb" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_z6ZG7HsOMPK3" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 56%; text-align: left">Stock options</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">102,167</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">40,518</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zw8lgtIB0Q9e" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif">Warrants</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">3,266,088</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">2,766,802</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_z4EgRhboxkF9" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Convertible Notes</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">2,265</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">2,265</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConsultantSharesMember_zo5hFXwyuzli" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif">Consultant Shares</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">4,600</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConversionsFromPreferredStockMember_z4C2hyfEK1Ef" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Conversions from Preferred Shares</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">2,886,552</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zaelsa5FRgNl" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">6,257,072</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">2,814,185</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Recently Issued Accounting Pronouncements In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires disclosure about the types of costs and expenses included in certain expense captions presented on the income statement. The new disclosure requirements are effective for the Company’s annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of this pronouncement on its related disclosures. In November 2024, the FASB issued ASU 2024-04, “Debt – Debt with Conversion and other Options (Subtopic 470-20)”, which set forth to improve the relevance and consistency in the application of induced conversion guidance in Subtopic 470-20, Debt— Debt with Conversion and Other Options such as clarifying the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. ASU 2024-04 is effective for all entities after December 15, 2025, with early adoption permitted. The Company adopted the standard with an effective date of January 1, 2026. The adoption did not have a significant impact on the consolidated financial statements for the three months ended March 31, 2026. In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants by Business Entities, which set forth new amendments that require entities to recognize government grants when it is probable that the grant conditions will be met and the grant will be received, and to provide enhanced disclosures regarding the nature, terms, and financial statement effects of such grants. The new amendments are effective for public companies with annual reporting periods beginning after December 15, 2028, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements, which clarifies the scope, form and content, and disclosures required for interim financial reporting. For public business entities, the amendments are effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its interim financial statement disclosures. In December 2025, the FASB issued ASU 2025-12, Codification Improvements, which includes amendments intended to clarify and improve various aspects of existing accounting guidance across multiple topics under U.S. GAAP. The amendments are effective for all entities for annual reporting periods beginning after December 15, 2026. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2025-12 on its financial statements and disclosures. In April 2026, the FASB issued ASU 2026-01, which provides guidance on the measurement of paid-in-kind (PIK) dividends on equity-classified preferred stock. Under the amendments, entities are required to measure such dividends by multiplying the stated PIK dividend rate by the liquidation preference of the shares. The amendments are effective for all entities for annual reporting periods beginning after December 15, 2026, and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its financial statements. Reclassification Certain reclassifications have been made to the December 31, 2025 financial statements to conform to the March 31, 2026 financial statement presentation. Such reclassifications had no effect on net income as previously reported.

Use of Estimates and Assumptions Preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and disclosed in the accompanying notes. Actual results may differ from those estimates and such differences may be material to the consolidated financial statements. The more significant estimates and assumptions by management include, but are not limited to, the expense recognition for certain accrued research and development services.

Cash and Cash Equivalents For purposes of the consolidated balance sheets and consolidated statements of cash flows, the Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents.

Concentrations of Credit Risk and Off-Balance Sheet Risk Cash and cash equivalents are financial instruments that are potentially subject to concentrations of credit risk. The Company’s cash and cash equivalents are deposited in accounts at large financial institutions and amounts currently exceed federally insured limits. The Company has no financial instruments with off-balance sheet risk of loss. Additionally, the Company had a concentration in accounts payable, as three research and development vendors made up greater than 10% individually, and <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260331__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__srt--MajorCustomersAxis__custom--CustomerMember_z1LgGgJw7Klf" title="Concentration of risk">78% and <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20250101__20251231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__srt--MajorCustomersAxis__custom--CustomerMember_zvdaZOMXUd46" title="Concentration of risk">82% in aggregate, of the outstanding accounts payable balance as of March 31, 2026, and December 31, 2025, respectively.

three research and development vendors made up greater than 10% individually

0.78

0.82

Segments The Company operates and manages its business as one reportable and operating segment. Operating segments are defined as components of an enterprise where separate financial information is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and assess performance. The Company’s CODM is the Chief Executive Officer, who reviews consolidated financial information on a company-wide basis for purposes of allocating resources and assessing financial performance and does not regularly review expenses or financial results on a more granular level.

Property and Equipment Property and equipment are recorded at cost and depreciated using the straight-line method over an estimated useful life of five years. As of March 31, 2026, property and equipment consists of laboratory equipment. During the three months ended March 31, 2026, the Company recognized depreciation expense of $6,533. There was no property and equipment as of March 31, 2025, and as such, there was no depreciation expense recognized during the three months ended March 31, 2025.

P5Y

6533

Fair Value Measurement ASC 820, Fair Value Measurements, (“ASC 820”) provides guidance on the development and disclosure of fair value measurements. Under this accounting guidance, fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The accounting guidance classifies fair value measurements in one of the following three categories for disclosure purposes: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in; text-align: justify">Level 1:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Quoted prices in active markets for identical assets or liabilities.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Inputs other than Level 1 prices for similar assets or liabilities that are directly or indirectly observable in the marketplace.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3:</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Unobservable inputs which are supported by little or no market activity and values determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.</td></tr> </table> The Company evaluates assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level at which to classify them for each reporting period. This determination requires significant judgments to be made by the Company. As of March 31, 2026, and December 31, 2025, the recorded values of cash and cash equivalents, prepaid expenses, accounts payable, and accrued expenses and other liabilities approximate their fair values due to the short-term nature of these items.

Federal Grants In September 2018, the NIH through NIDA awarded the Company a research and development MPAR Grant. The initial grant was extended several times and cumulative funding under this grant of approximately $10.7 million was completed in December 2023. A second multi-year MPAR Grant was awarded by NIH through NIDA in August 2024, providing total funding of $15.1 million through May 2027, as adjusted. As of March 31, 2026, remaining funding under the grant is $6.0 million. In September 2019, the NIH/NIDA awarded the Company a third research and development grant related to the development of its TAAP/MPAR abuse deterrent technology for OUD Grant. The total approved budget was approximately $5.4 million, and the grant period ended August 31, 2024. The Company recognizes revenue when costs related to the grants are incurred and assessed as reimbursable. The Company believes this policy is consistent with the overarching premise in Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (“ASC 606”), applied by analogy, to ensure that it recognizes revenues to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services, even though there is no “exchange” as defined in ASC 606. The Company believes the recognition of revenue as costs are incurred, and reimbursable amounts become due is analogous to the concept of transfer of control of a service over time under ASC 606. <p id="xdx_89F_ecustom--ScheduleOfRevenueRecognitionUnderGrantsTableTextBlock_ze9g2mq3xqZ4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">The revenue recognized under the MPAR Grant and OUD Grant was as follows: SCHEDULE OF REVENUE RECOGNITION UNDER GRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="display: none; font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260101__20260331_zipNQSbItjMh" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20250331_z8rWztPvHFm3" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_hsrt--ProductOrServiceAxis__custom--MPARMember_zlsJAApEXZsj" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 56%; text-align: justify">MPAR</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">960,999</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">1,319,772</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_hsrt--ProductOrServiceAxis__custom--TAAPOUDMember_z1hkZYyqufb6" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: justify">TAAP/OUD</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_z4TJ2Z4SAXGb" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: justify">Total</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">960,999</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">1,319,772</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Amounts requested or eligible to be requested through the NIH payment management system, but for which cash has not been received, are presented as an unbilled receivable on the Company’s consolidated balance sheet. As all amounts are expected to be remitted timely, no valuation allowances are recorded. Unbilled receivable from the MPAR Grant consisted of the following: SCHEDULE OF UNBILLED RECEIVABLE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260101__20260331_zoWI8qEYEaMd" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250101__20251231_zgD4DBNR4zc1" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--UnbilledReceivablesCurrent_iS_zXA8ZtGnfdc3" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 60%; text-align: left">Unbilled receivable - beginning</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">420,345</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">124,115</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--UnbilledReceivablesCurrent_iE_zC2H93vzcOJl" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif">Unbilled receivable - ending</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">420,345</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

10700000

15100000

6000000.0

5400000

<p id="xdx_89F_ecustom--ScheduleOfRevenueRecognitionUnderGrantsTableTextBlock_ze9g2mq3xqZ4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">The revenue recognized under the MPAR Grant and OUD Grant was as follows: SCHEDULE OF REVENUE RECOGNITION UNDER GRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="display: none; font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260101__20260331_zipNQSbItjMh" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20250331_z8rWztPvHFm3" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_hsrt--ProductOrServiceAxis__custom--MPARMember_zlsJAApEXZsj" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 56%; text-align: justify">MPAR</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">960,999</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">1,319,772</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_hsrt--ProductOrServiceAxis__custom--TAAPOUDMember_z1hkZYyqufb6" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: justify">TAAP/OUD</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_z4TJ2Z4SAXGb" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: justify">Total</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">960,999</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">1,319,772</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

960999

1319772

960999

1319772

Unbilled receivable from the MPAR Grant consisted of the following: SCHEDULE OF UNBILLED RECEIVABLE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260101__20260331_zoWI8qEYEaMd" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250101__20251231_zgD4DBNR4zc1" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--UnbilledReceivablesCurrent_iS_zXA8ZtGnfdc3" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 60%; text-align: left">Unbilled receivable - beginning</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">420,345</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">124,115</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--UnbilledReceivablesCurrent_iE_zC2H93vzcOJl" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif">Unbilled receivable - ending</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">420,345</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

420345

124115

420345

Research and Development Costs The Company’s research and development expenses consist primarily of third-party research and development expenses, consulting expenses, preclinical and clinical studies, and any allocable direct overhead, including facilities and depreciation costs, as well as salaries, payroll taxes, and employee benefits for those individuals directly involved in ongoing research and development efforts. Research and development expenses are charged to expense as incurred. Payments made prior to the receipt of goods or services to be used in research and development are capitalized until the goods or services are received.

General and Administrative Expenses General and administrative expenses consist primarily of personnel costs associated with the Company’s executive, finance, human resources, compliance, and other administrative personnel, as well as accounting and legal professional services fees.

Stock-based Compensation The Company expenses stock-based compensation over the requisite service period based on the estimated grant-date fair value of the awards using a graded amortization approach. The Company accounts for forfeitures as they occur. The Company estimates the fair value of stock option grants using the Black-Scholes option pricing model. The assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. Stock-based compensation costs are recorded in research and development and general and administrative expenses in the consolidated statements of operations. From time-to-time equity classified awards may be modified. On the modification date, the Company estimates the fair value of the awards immediately before and immediately after modification. The incremental increase in fair value is recognized as expense immediately to the extent the underlying equity awards are vested and on a straight-line basis over the same remaining amortization schedule as the unvested underlying equity awards.

Income Taxes Income taxes are recorded in accordance with ASC 740, Income Taxes (“ASC 740”), which provides for deferred taxes using an asset and liability approach. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements or tax returns. Deferred tax assets and liabilities are determined based on the difference between the consolidated financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are provided if, based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company accounts for uncertain tax positions in accordance with the provisions of ASC 740. When uncertain tax positions exist, the Company recognizes the tax benefit of tax positions to the extent that the benefit would more likely than not be realized assuming examination by the taxing authority. The determination as to whether the tax benefit will more likely than not be realized is based upon the technical merits of the tax position as well as consideration of the available facts and circumstances. The Company recognizes any interest and penalties accrued related to unrecognized tax benefits as income tax expense.

Earnings (loss) per Share The basic earnings (loss) per share is calculated by dividing the Company’s net income or loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. The diluted earnings (loss) per share is calculated by dividing the Company’s net earnings attributable to common stockholders by the diluted weighted average number of common shares outstanding during the period, determined using the treasury stock method and the average stock price during the period. <p id="xdx_895_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zEphSnGFhnU7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following weighted average shares have been excluded from the calculations of diluted weighted average common shares outstanding because they would have been anti-dilutive (the Company has utilized the principal balance outstanding and the end of period conversion price for the Convertible Notes for the purposes of the weighted average share calculation below): SCHEDULE OF WEIGHTED AVERAGE SHARES OF ANTI-DILUTIVE SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260101__20260331_zSqlLlQGNLp5" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20250331_z5NAAiyU1OSb" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_z6ZG7HsOMPK3" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 56%; text-align: left">Stock options</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">102,167</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">40,518</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zw8lgtIB0Q9e" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif">Warrants</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">3,266,088</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">2,766,802</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_z4EgRhboxkF9" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Convertible Notes</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">2,265</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">2,265</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConsultantSharesMember_zo5hFXwyuzli" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif">Consultant Shares</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">4,600</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConversionsFromPreferredStockMember_z4C2hyfEK1Ef" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Conversions from Preferred Shares</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">2,886,552</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zaelsa5FRgNl" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">6,257,072</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">2,814,185</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_895_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zEphSnGFhnU7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following weighted average shares have been excluded from the calculations of diluted weighted average common shares outstanding because they would have been anti-dilutive (the Company has utilized the principal balance outstanding and the end of period conversion price for the Convertible Notes for the purposes of the weighted average share calculation below): SCHEDULE OF WEIGHTED AVERAGE SHARES OF ANTI-DILUTIVE SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260101__20260331_zSqlLlQGNLp5" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20250331_z5NAAiyU1OSb" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_z6ZG7HsOMPK3" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 56%; text-align: left">Stock options</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">102,167</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">40,518</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zw8lgtIB0Q9e" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif">Warrants</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">3,266,088</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">2,766,802</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_z4EgRhboxkF9" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Convertible Notes</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">2,265</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">2,265</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConsultantSharesMember_zo5hFXwyuzli" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif">Consultant Shares</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">4,600</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConversionsFromPreferredStockMember_z4C2hyfEK1Ef" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Conversions from Preferred Shares</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">2,886,552</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zaelsa5FRgNl" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">6,257,072</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">2,814,185</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

102167

40518

3266088

2766802

2265

4600

2886552

6257072

2814185

Recently Issued Accounting Pronouncements In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires disclosure about the types of costs and expenses included in certain expense captions presented on the income statement. The new disclosure requirements are effective for the Company’s annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of this pronouncement on its related disclosures. In November 2024, the FASB issued ASU 2024-04, “Debt – Debt with Conversion and other Options (Subtopic 470-20)”, which set forth to improve the relevance and consistency in the application of induced conversion guidance in Subtopic 470-20, Debt— Debt with Conversion and Other Options such as clarifying the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. ASU 2024-04 is effective for all entities after December 15, 2025, with early adoption permitted. The Company adopted the standard with an effective date of January 1, 2026. The adoption did not have a significant impact on the consolidated financial statements for the three months ended March 31, 2026. In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants by Business Entities, which set forth new amendments that require entities to recognize government grants when it is probable that the grant conditions will be met and the grant will be received, and to provide enhanced disclosures regarding the nature, terms, and financial statement effects of such grants. The new amendments are effective for public companies with annual reporting periods beginning after December 15, 2028, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements, which clarifies the scope, form and content, and disclosures required for interim financial reporting. For public business entities, the amendments are effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its interim financial statement disclosures. In December 2025, the FASB issued ASU 2025-12, Codification Improvements, which includes amendments intended to clarify and improve various aspects of existing accounting guidance across multiple topics under U.S. GAAP. The amendments are effective for all entities for annual reporting periods beginning after December 15, 2026. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2025-12 on its financial statements and disclosures. In April 2026, the FASB issued ASU 2026-01, which provides guidance on the measurement of paid-in-kind (PIK) dividends on equity-classified preferred stock. Under the amendments, entities are required to measure such dividends by multiplying the stated PIK dividend rate by the liquidation preference of the shares. The amendments are effective for all entities for annual reporting periods beginning after December 15, 2026, and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its financial statements.

Reclassification Certain reclassifications have been made to the December 31, 2025 financial statements to conform to the March 31, 2026 financial statement presentation. Such reclassifications had no effect on net income as previously reported.

NOTE 4 – PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consisted of the following: SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260331_ztxhkvhuXONc" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231_zds6a2tX3f91" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_ecustom--PrepaidResearchAndDevelopment_iI_pp0p0_maOPECzDNl_zZxtM4zADnvf" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 56%; text-align: left">Prepaid research and development</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">819,746</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">2,088,078</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PrepaidInsurance_iI_pp0p0_maOPECzDNl_z3tqVNPSAvcd" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Prepaid insurance</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">237,219</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">300,600</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherPrepaidExpenseCurrent_iI_pp0p0_maOPECzDNl_zm6oGk9iv3A6" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Other prepaid expenses</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">180,548</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">105,091</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherAssetsCurrent_iI_pp0p0_maOPECzDNl_z0uPlfyUvowc" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Other current assets</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">25,545</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">20,550</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pp0p0_mtOPECzDNl_zDL0l8wBJyY6" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total prepaid expenses and other current assets</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">1,263,058</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">2,514,319</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Prepaid expenses and other current assets consisted of the following: SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260331_ztxhkvhuXONc" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231_zds6a2tX3f91" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_ecustom--PrepaidResearchAndDevelopment_iI_pp0p0_maOPECzDNl_zZxtM4zADnvf" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 56%; text-align: left">Prepaid research and development</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">819,746</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">2,088,078</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PrepaidInsurance_iI_pp0p0_maOPECzDNl_z3tqVNPSAvcd" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Prepaid insurance</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">237,219</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">300,600</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherPrepaidExpenseCurrent_iI_pp0p0_maOPECzDNl_zm6oGk9iv3A6" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Other prepaid expenses</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">180,548</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">105,091</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherAssetsCurrent_iI_pp0p0_maOPECzDNl_z0uPlfyUvowc" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Other current assets</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">25,545</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">20,550</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pp0p0_mtOPECzDNl_zDL0l8wBJyY6" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total prepaid expenses and other current assets</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">1,263,058</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">2,514,319</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

819746 2088078

237219

300600

180548

105091

25545

20550

1263058

2514319

NOTE 5 – ACCRUED EXPENSES AND OTHER LIABILITIES Accrued expenses and other liabilities consisted of the following: SCHEDULE OF ACCRUED EXPENSES AND OTHER LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260331_z40In0lXKQo" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20251231_zbdcWpKCs3Wd" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_ecustom--AccruedResearchAndDevelopment_iI_maALAOLzFDV_zqIS45S9h1Wf" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 56%; text-align: left">Accrued research and development</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">433,135</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">554,680</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--AccruedConsultantCompensation_iI_maALAOLzFDV_zwPNcVRcSBD3" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Accrued consultant compensation</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">180,000</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">180,000</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccruedProfessionalFeesCurrentAndNoncurrent_iI_maALAOLzFDV_zENKlDqIarRc" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Accrued professional fees</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">160,550</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">65,497</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherAccruedLiabilitiesCurrentAndNoncurrent_iI_maALAOLzFDV_zqwgtxTfNSGd" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Other accrued liabilities</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">207,095</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">193,234</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_mtALAOLzFDV_zzEiTQtbXSQi" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total accrued expenses and other liabilities</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">980,780</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">993,411</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Accrued expenses and other liabilities consisted of the following: SCHEDULE OF ACCRUED EXPENSES AND OTHER LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260331_z40In0lXKQo" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20251231_zbdcWpKCs3Wd" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_ecustom--AccruedResearchAndDevelopment_iI_maALAOLzFDV_zqIS45S9h1Wf" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 56%; text-align: left">Accrued research and development</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">433,135</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">554,680</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--AccruedConsultantCompensation_iI_maALAOLzFDV_zwPNcVRcSBD3" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Accrued consultant compensation</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">180,000</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">180,000</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccruedProfessionalFeesCurrentAndNoncurrent_iI_maALAOLzFDV_zENKlDqIarRc" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Accrued professional fees</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">160,550</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">65,497</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherAccruedLiabilitiesCurrentAndNoncurrent_iI_maALAOLzFDV_zqwgtxTfNSGd" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Other accrued liabilities</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">207,095</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">193,234</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_mtALAOLzFDV_zzEiTQtbXSQi" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total accrued expenses and other liabilities</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">980,780</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">993,411</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

433135 554680 180000 180000

160550

65497

207095

193234

980780

993411

NOTE 6 - COMMITMENTS AND CONTINGENCIES Purchase Commitments As of March 31, 2026, the Company’s commitments included an estimated $17.0 million related to the Company’s open purchase orders and contractual obligations that occurred in the ordinary course of business, including commitments with contract research organizations for multi-year pre-clinical and clinical research studies funded by federal grants. Although open purchase orders are considered enforceable and legally binding, the terms generally allow the Company the option to cancel, reschedule, and adjust its requirements based on its business needs prior to the delivery of goods or the performance of services. Litigation As of March 31, 2026, and December 31, 2025, there were no pending legal proceedings against the Company that are expected to have a material adverse effect on cash flows, financial condition or results of operations. From time to time, the Company could become involved in disputes and various litigation matters that arise in the normal course of business. These may include disputes and lawsuits related to intellectual property, licensing, contract law and employee relations matters. Periodically, the Company reviews the status of significant matters, if any exist, and assesses its potential financial exposure. If the potential loss from any claim or legal claim is considered probable and the amount can be estimated, the Company accrues a liability for the estimated loss. Legal proceedings are subject to uncertainties, and the outcomes are difficult to predict. Because of such uncertainties, accruals are based on the best information available at the time. As additional information becomes available, the Company reassesses the potential liability related to pending claims and litigation. Consultant Dispute In April 2025, the Company entered into an agreement with a former independent contractor to resolve a dispute over payment. The Company denied the allegations but agreed to settle the matter. In connection with the settlement agreement, the Company issued 20,000 shares of common stock to the consultant in April 2025. As of March 31, 2026, the Company accrued a total settlement value of $0.2 million. Galephar Agreement In January 2025, the Company entered into a product development and supply agreement with Galephar Pharmaceutical Research, Inc., a Puerto Rico specialty drug manufacturer (“Galephar”), to support the development, manufacture, packaging and testing of the Company’s PF614 and PF614-MPAR drug products for use in clinical trials and potential future commercial launch. Upon execution of the agreement, the Company committed to issue <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_c20250101__20250131__us-gaap--TypeOfArrangementAxis__custom--GalepharAgreementMember_zKEuVg1smLKh" title="Number of restricted shares commited to issue">13,801 restricted shares of common stock (approximately <span id="xdx_90F_ecustom--SharesOutstandingPercentage_pid_dp_uPure_c20250101__20250131__us-gaap--TypeOfArrangementAxis__custom--GalepharAgreementMember_zOhse2tzDJr4" title="Percentage of shares outstanding">1% of shares outstanding), subject to vesting in three tranches upon achievement of specific operational and regulatory milestones. The Company accounts for this share grant as nonemployee share-based compensation under ASC 718. One-third of the shares vested immediately upon grant, and the remaining two-thirds will vest as services are performed. During the three months ended March 31, 2026 and 2025, the Company recognized $0 and $25,806 of stock-based compensation related to the one-third immediate vesting of <span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAcceleratedVestingNumber_c20260101__20260331__us-gaap--TypeOfArrangementAxis__custom--GalepharAgreementMember_z8pmJ7j9OZ1b" title="Shares vesting upon grant date">4,600 shares upon grant date. As of March 31, 2026, <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iI_c20260331__us-gaap--TypeOfArrangementAxis__custom--GalepharAgreementMember_zcnMPY830FS2" title="Vesting shares issued and outstanding">4,600 shares had been issued and outstanding. The agreement also provides for milestone-based payments, to be settled in common stock (50% restricted, 50% freely tradeable). The number of shares issuable upon achievement of each milestone is based on the trailing five-day average closing price at the time of each milestone achievement. Share-based expense for these milestone grants will be recognized as services are rendered. These awards are liability-classified until shares are issued, at which point they will be reclassified to equity. During the three months ended March 31, 2025, the Company recognized $<span id="xdx_90C_eus-gaap--ShareBasedCompensation_c20250101__20250331__us-gaap--TypeOfArrangementAxis__custom--GalepharAgreementMember__custom--StatementOfIncomeLocationAxis__custom--ResearchAndDevelopmentExpensesMember_z31qC1SFrhoi" title="Stock based compensation">20,000 of research and development stock-based compensation to be settled in shares that was related to milestone progression. During the three months ended March 31, 2026, there has been <span id="xdx_90D_eus-gaap--ShareBasedCompensation_do_c20260101__20260331__us-gaap--TypeOfArrangementAxis__custom--GalepharAgreementMember__custom--StatementOfIncomeLocationAxis__custom--ResearchAndDevelopmentExpensesMember_zx0I94ZpSVtf" title="Stock based compensation">no research and development expense related to milestone progression for awards to be settled in shares. As of March 31, 2026, 468,750 shares had been issued pursuant to these milestone-based awards. Lease The Company’s current lease agreement (as amended) has a term that extends through October 31, 2026, with no option to renew. As of March 31, 2026, the future lease payments totaled $21,508. The Company recognized total rent expense of $9,443 and $9,088 in the three months ended March 31, 2026 and 2025, respectively.

17000000.0

20000

200000

13801

0.01

25806

4600

The agreement also provides for milestone-based payments, to be settled in common stock (50% restricted, 50% freely tradeable). The number of shares issuable upon achievement of each milestone is based on the trailing five-day average closing price at the time of each milestone achievement.

20000

468750

21508

9443

9088

NOTE 7 - NOTES PAYABLE The following table provides a summary of the Company’s outstanding debt as of March 31, 2026: SCHEDULE OF DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Principal balance</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Accrued interest</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Net debt balance</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; width: 40%; text-align: justify">2023 Notes</td><td style="font-family: Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DebtInstrumentFaceAmount_iI_c20260331__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zP5BmPSDw8la" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 16%; text-align: right" title="Principal balance">216,000</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20260331__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zkUL09V0Ssj8" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 16%; text-align: right" title="Accrued interest">29,849</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--NotesPayable_iI_pp0p0_c20260331__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zCN7uQRyK43l" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 16%; text-align: right" title="Net debt balance">245,849</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: justify">Total</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_986_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20260331_zQiZXuy5n3od" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Principal balance">216,000</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_987_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20260331_zNuO2uiuQ2Z3" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Accrued interest">29,849</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_983_eus-gaap--NotesPayable_iI_pp0p0_c20260331_zXWU6K1V5kWd" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Net debt balance">245,849</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The following table provides a summary of the Company’s outstanding debt as of December 31, 2025: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Principal balance</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Accrued interest</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Net debt balance</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 40%">2023 Notes</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--DebtInstrumentFaceAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zpaWhLufeRtb" style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right" title="Principal balance">216,000</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20251231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zECfsgLSd9r4" style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right" title="Accrued interest">26,761</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--NotesPayable_iI_pp0p0_c20251231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_z2GPBZjR63W5" style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right" title="Net debt balance">242,761</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Financed insurance</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--DebtInstrumentFaceAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--FinancedInsuranceMember_z26PgUETusA8" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principal balance">63,947</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20251231__us-gaap--DebtInstrumentAxis__custom--FinancedInsuranceMember_zx95YrbbVBH" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Accrued interest">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--NotesPayable_iI_pp0p0_c20251231__us-gaap--DebtInstrumentAxis__custom--FinancedInsuranceMember_zolF2rYusKPi" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Net debt balance">63,947</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_981_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20251231_z0Dj9PzCEth5" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Principal balance">279,947</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98F_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20251231_zMC2qqfyKjNa" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Accrued interest">26,761</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98C_eus-gaap--NotesPayable_iI_pp0p0_c20251231_zEO5MmrX0634" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Net debt balance">306,708</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Interest expense The interest expense recognized for financed insurance was $834 and $909 for the three months ended March 31, 2026 and 2025, respectively. Interest expense recognized for the 2023 Notes was $3,089 and $2,947 for the three months ended March 31, 2026 and 2025, respectively. 2023 Notes In October 2023, the Company entered into a Securities Purchase Agreement (“SPA”) for an aggregate financing of $<span id="xdx_906_eus-gaap--ProceedsFromIssuanceOfDebt_pn5n6_c20231023__20231023__srt--TitleOfIndividualAxis__custom--InvestorsMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zjE4GbRuFon2" title="Debt financing amount">1.8 million with investors, including $<span id="xdx_90A_eus-gaap--ProceedsFromIssuanceOfDebt_pn5n6_c20231023__20231023__srt--TitleOfIndividualAxis__custom--BoardMemberMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zXOWhYrhjgy1" title="Debt financing amount">0.2 million with a board member. At the first closing under the SPA, which occurred on October 25, 2023, the Company issued to the investors (i) senior secured convertible promissory notes in the aggregate principal amount of $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_c20231025__us-gaap--TypeOfArrangementAxis__custom--FirstClosingSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zAtLM4m4OpC1" title="Aggregate principal amount">612,000 for an aggregate purchase price of $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceOfDebt_c20231024__20231025__us-gaap--TypeOfArrangementAxis__custom--FirstClosingSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zIXeBmW2rVd7" title="Aggregate purchase price">566,667 and (ii) warrants to purchase <span id="xdx_907_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20231025__us-gaap--TypeOfArrangementAxis__custom--FirstClosingSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zdLQFFBJagOc" title="Warrants to purchase common shares">83,714 shares of the Company’s common stock, par value $<span id="xdx_902_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20231025__us-gaap--TypeOfArrangementAxis__custom--FirstClosingSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zcVfLVvFYBy5" title="Common stock, par value">0.0001 per share in the aggregate. At the second closing under the SPA, which occurred on November 29, 2023, the Company issued to the investors referenced above, (i) additional notes in the aggregate principal amount of $<span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_iI_c20231129__us-gaap--TypeOfArrangementAxis__custom--SecondClosingSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zhYC0FUdlqb3" title="Aggregate principal amount">1,224,000 for an aggregate purchase price of $<span id="xdx_903_eus-gaap--ProceedsFromIssuanceOfDebt_c20231129__20231129__us-gaap--TypeOfArrangementAxis__custom--SecondClosingSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zlGvWztXfINc" title="Aggregate purchase price">1,133,333 and (i) additional warrants to purchase <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20231129__us-gaap--TypeOfArrangementAxis__custom--SecondClosingSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_z69nebKGTQT4" title="Warrants to purchase common shares">167,427 shares of the common stock in the aggregate. The warrants have an exercise price of $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20231025__us-gaap--TypeOfArrangementAxis__custom--FirstClosingSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zqyhsQbVYVNd" title="Warrants to purchase common shares"><span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20231129__us-gaap--TypeOfArrangementAxis__custom--SecondClosingSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zResRdQ77IDg" title="Warrant, exercise price">23.5125, the same as the conversion price, and are exercisable for five years following the issuance date. The warrants were equity classified as they are indexed to the Company’s stock and only settleable in shares. The warrants were initially measured at fair value using a Black-Scholes valuation model and were allocated along with the 2023 Notes using the relative fair value method. The original debt discount, debt issuance costs, and value associated with the warrants were fully amortized to interest expense as of March 31, 2026. During 2024, the Company converted <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20240101__20241231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_z74gyZ5L618c" title="Conversion of shares">49,702 shares of common stock with a conversion value of $<span id="xdx_907_eus-gaap--StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_pn5n6_c20240101__20241231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zl1A0I6uBMhg" title="Conversion of shares value">1.2 million related to the 2023 Notes. In addition, in connection with the SPA, the Company incurred a $<span id="xdx_905_ecustom--ProceedsFromWarrantInducementNetOfIssuanceCosts_pn5n6_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zJZjH1s83y7e" title="Transaction cost">1.0 million waiver fee as a result of the 2024 February Warrant Inducement (see Note 8) to pay down $<span id="xdx_90D_ecustom--IssuanceOfCommonStockValueUponWarrantInducementNetOfIssuanceCosts_pn5n6_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zB93qsdkMrrg" title="Warrant inducement cost">0.5 million of the 2023 Notes and incurred $<span id="xdx_908_ecustom--TransactionCostsAssociatedWithWarrantInducement_pn5n6_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zgEfJNtii29f" title="Transaction cost">0.5 million in transaction costs recorded as such in the consolidated statement of stockholders’ equity. As of March 31, 2026, the remaining $<span id="xdx_90B_eus-gaap--SeniorNotesCurrent_iI_pn5n6_c20231023__srt--TitleOfIndividualAxis__custom--BoardMemberMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_z7D374211Y3a" title="Senior secured convertible promissory notes">0.2 million of the 2023 Notes relates to senior secured convertible promissory notes held by a Company board member (see Note 10). Financed Insurance Premiums In June 2025, the Company renewed and financed its directors’ and officers’ liability insurance in the amount of $0.2 million. Monthly payments were scheduled from July 2025 through March 2026 and were fully paid as of March 31, 2026.

The following table provides a summary of the Company’s outstanding debt as of March 31, 2026: SCHEDULE OF DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Principal balance</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Accrued interest</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Net debt balance</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; width: 40%; text-align: justify">2023 Notes</td><td style="font-family: Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DebtInstrumentFaceAmount_iI_c20260331__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zP5BmPSDw8la" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 16%; text-align: right" title="Principal balance">216,000</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20260331__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zkUL09V0Ssj8" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 16%; text-align: right" title="Accrued interest">29,849</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--NotesPayable_iI_pp0p0_c20260331__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zCN7uQRyK43l" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 16%; text-align: right" title="Net debt balance">245,849</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: justify">Total</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_986_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20260331_zQiZXuy5n3od" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Principal balance">216,000</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_987_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20260331_zNuO2uiuQ2Z3" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Accrued interest">29,849</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_983_eus-gaap--NotesPayable_iI_pp0p0_c20260331_zXWU6K1V5kWd" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Net debt balance">245,849</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The following table provides a summary of the Company’s outstanding debt as of December 31, 2025: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Principal balance</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Accrued interest</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Net debt balance</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 40%">2023 Notes</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--DebtInstrumentFaceAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zpaWhLufeRtb" style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right" title="Principal balance">216,000</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20251231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_zECfsgLSd9r4" style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right" title="Accrued interest">26,761</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--NotesPayable_iI_pp0p0_c20251231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember_z2GPBZjR63W5" style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right" title="Net debt balance">242,761</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Financed insurance</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--DebtInstrumentFaceAmount_iI_c20251231__us-gaap--DebtInstrumentAxis__custom--FinancedInsuranceMember_z26PgUETusA8" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principal balance">63,947</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20251231__us-gaap--DebtInstrumentAxis__custom--FinancedInsuranceMember_zx95YrbbVBH" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Accrued interest">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--NotesPayable_iI_pp0p0_c20251231__us-gaap--DebtInstrumentAxis__custom--FinancedInsuranceMember_zolF2rYusKPi" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Net debt balance">63,947</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_981_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20251231_z0Dj9PzCEth5" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Principal balance">279,947</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98F_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20251231_zMC2qqfyKjNa" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Accrued interest">26,761</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98C_eus-gaap--NotesPayable_iI_pp0p0_c20251231_zEO5MmrX0634" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Net debt balance">306,708</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

216000

29849

245849

216000

29849

245849

216000

26761

242761

63947

279947

26761

306708

834

909

3089

2947

1800000

200000

612000

566667

83714

0.0001

1224000

1133333

167427

23.5125

49702

1200000

1000000.0 500000 500000

200000

NOTE 8 - STOCKHOLDERS’ EQUITY The Company’s current Certificate of Incorporation authorizes 250,000,000 shares of common stock and 1,500,000 shares of preferred stock, both with par value equal to $0.0001. As of March 31, 2026, 4,500 shares have been designated as Series B Preferred Stock. The remaining authorized preferred shares are undesignated and available for future issuance. As of March 31, 2026, the Company had convertible preferred stock as follows: SCHEDULE OF CONVERTIBLE PREFERRED STOCK <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Shares Issued</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Shares Outstanding</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Net Carrying Value</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Aggregate Liquidation Preference</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 28%; text-align: left; padding-bottom: 1pt">Series B</td><td style="font-family: Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--PreferredStockSharesIssued_iI_c20260331__us-gaap--StatementClassOfStockAxis__us-gaap--PreferredClassBMember_ztyAvqy8CrKg" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 14%; text-align: right" title="Shares Issued">4,000</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--PreferredStockSharesOutstanding_iI_c20260331__us-gaap--StatementClassOfStockAxis__us-gaap--PreferredClassBMember_zpI1ar41fzU" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 14%; text-align: right" title="Shares Outstanding">1,405</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_989_ecustom--PreferredStockCarryingValue_iI_c20260331__us-gaap--StatementClassOfStockAxis__us-gaap--PreferredClassBMember_z9lCDuVSFZhi" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 14%; text-align: right" title="Net Carrying Value">3,483,269</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--PreferredStockLiquidationPreferenceValue_iI_c20260331__us-gaap--StatementClassOfStockAxis__us-gaap--PreferredClassBMember_zNmF209JuAt9" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 14%; text-align: right" title="Aggregate Liquidation Preference">1,545,500</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--PreferredStockSharesIssued_iI_c20260331_z99du3HgSH7l" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Shares Issued">4,000</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--PreferredStockSharesOutstanding_iI_c20260331_zt1EX99RoU4f" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Shares Outstanding">1,405</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98E_ecustom--PreferredStockCarryingValue_iI_c20260331_zDsmZUyyK382" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Net Carrying Value">3,483,269</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_986_eus-gaap--PreferredStockLiquidationPreferenceValue_iI_c20260331_zDAtomOt3Or7" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Aggregate Liquidation Preference">1,545,500</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Series B Preferred Stock Financing On November 13, 2025, the Company entered into a Securities Purchase Agreement with an institutional investor (the “Purchaser”) providing for (i) a registered direct offering and (ii) a concurrent private placement (collectively, the “Offerings”) for aggregate financing of $<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20251113__20251113__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zaoDjebM7SF2" title="Aggregate financing amount">4.0 million, with the right to purchase up to an additional $16.0 million under the facility In the registered direct offering, the Company issued 1,513 shares of Series B Preferred Stock convertible to <span id="xdx_903_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_iI_c20251113__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zI909UtWkOSf" title=" Convertible shares">665,922 shares of the Company’s common stock. In the concurrent private placement, the Company issued 2,487 unregistered shares of Preferred Stock convertible into shares of common stock, subject to adjustment, and warrants to purchase up to 880,000 shares of common stock, subject to adjustment. The Series B Preferred Stock has a stated value of $<span id="xdx_90B_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20251113__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zfi48wkMXzLg" title="Preferred Stock, stated value">1,100 per share. The preferred stock and common stock each have a par value of $0.0001 per share. The Warrants have an exercise price of $2.50 per share, subject to anti-dilution adjustments, are exercisable beginning six months after issuance, and expire on the fifth anniversary of the later of (i) the effectiveness of a resale registration statement covering the Warrants and (ii) receipt of required stockholder approval. The Series B Preferred Stock has the following rights and privileges: Voting - Holders of preferred shares shall have no voting rights, except as required by Delaware law and Company’s Certificate of Designation. To the extent required under the Delaware General Corporation Law, holders of the preferred shares are entitled to vote as a separate class (or series, if applicable) to approve certain corporate actions. Approval of such matters requires the affirmative vote or written consent of the holders of a majority of the outstanding preferred shares voting together as a single class, unless separate series voting is required by law. In matters where preferred shareholders are entitled to vote together with common shareholders as a single class, each preferred share is entitled to the number of votes equal to the number of shares of common stock into which it is then convertible, subject to applicable beneficial ownership limitations. Dividends - Holders of preferred shares shall accrue dividends at a rate of <span id="xdx_90E_eus-gaap--PreferredStockDividendRatePercentage_pid_dp_uPure_c20251113__20251113__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zxWGNcj3vu4" title="Preferred stock, dividends rate, percentage">4.0% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months. Dividends accrue daily and are payable in arrears on the first trading day of each fiscal quarter. Dividends are not payable in cash but are capitalized and added to the stated value of the preferred shares on each dividend payment date. Accrued dividends are included in the conversion amount upon conversion of the preferred shares and are payable upon certain bankruptcy triggering events. Upon the occurrence and continuation of a triggering event, as defined in the agreement, the dividend rate increases to 8.0% per annum until such triggering event is cured. Liquidation - In the event of a liquidation, dissolution or winding up of the Company, holders of preferred shares are entitled to receive, prior to any distribution to holders of Junior Stock (shares of capital stock that are junior in rank to all preferred shares with respects to preferences of dividends, distributions and payments upon distribution.) and pari passu with holders of any outstanding Parity Stock, a cash payment per Preferred Share equal to the greater of (i) <span id="xdx_904_eus-gaap--PreferredStockConvertibleConversionRatio_iI_pid_dp_uPure_c20251113__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z3m9fd5x82Eh" title="Preferred stock, conversion percentage">125% of the applicable Conversion Amount or (ii) the amount that would have been received if such Preferred Shares had been converted into Common Stock immediately prior to the Liquidation Event. If available assets are insufficient to pay the full liquidation preference to holders of Preferred Shares and Parity Stock, such amounts will be distributed ratably among such holders in proportion to their respective full liquidation preference entitlements. The Company is required to take all actions, including causing its subsidiaries to distribute available proceeds to the extent permitted by law, to ensure that such liquidation preferences are satisfied before any distributions are made to holders of Junior Stock. Conversion Price Per Share: Each share of Series B Preferred Stock is convertible, at the option of the holder, into shares of common stock. The number of shares issuable upon conversion is determined by dividing the conversion amount by the conversion price. The conversion amount equals the stated value of $<span id="xdx_906_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20251113__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z1nAhX9Y8t8f" title="Preferred stock, conversion price">1,100 per share, plus accrued and unpaid dividends and any other amounts owed under the applicable transaction documents. Upon receipt of a valid conversion notice, the Company is required to issue the applicable number of shares of common stock within one trading day, subject to applicable settlement requirements. Conversions are subject to a beneficial ownership limitation following conversion. The conversion price is initially $2.50 per share, subject to adjustment. At the holder’s election, the conversion price may be adjusted to 95% of the lowest volume-weighted average price (“VWAP”) of the Company’s common stock during the five trading days preceding conversion, subject to a floor price of $0.4104. Conversions are subject to customary beneficial ownership limitations. Alternate Conversion Upon a Triggering Event - Following the occurrence of a triggering event, holders may elect to convert Series B Preferred Stock at an alternate conversion price equal to <span id="xdx_900_ecustom--ConversionPriceTriggeringEventPercentage_iI_pid_dp_uPure_c20251113__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zom7ndCVNEk1" title="Conversion price percentage">90% of the lowest VWAP over the five trading days preceding the conversion date, subject to a floor price of $0.4104. Exchange Right - The holder has the right, in connection with a subsequent financing by the Company, to apply the stated value of the preferred stock at 120% of the applicable conversion amount toward the purchase price of securities issued in such subsequent placement. Additional Purchase Right - The Preferred Stock includes participation rights that entitle each holder of preferred stock to participate in any pro rata distribution of options, convertible securities, warrants or other purchase rights granted to holders of Common Stock (other than equity awards issued under the Omnibus Incentive Plan). In such events, each holder is entitled to receive the amount of such rights the holder would have received if all Preferred Shares were converted into Common Stock at the Alternate Conversion Price as of the applicable record date, without regard to conversion limitations. Participation is subject to the beneficial ownership limitation. To the extent participation would cause a holder and its attribution parties to exceed such limitation, the excess portion is held in abeyance and becomes exercisable when such participation would no longer result in exceeding the beneficial ownership limitation. Anti-dilution: The Series B Preferred Stock includes price-based anti-dilution protections that adjust the conversion price upon future issuances of equity or equity-linked securities at prices below the then-effective conversion price, including issuances of options or convertible securities and variable-price securities. The Company evaluated the terms of the Series B Preferred Stock for embedded features that may require bifurcation as derivative instruments under ASC 815. Certain features were identified that met the definition of a derivative. As March 31, 2026 and December 31, 2025, the Company concluded that the fair value of such features was not material to the financial statements and accordingly did not recognize them as separate derivative liabilities. The Company will continue to reassess this conclusion at each reporting period. 2025 April Warrant Inducement In April 2025, the Company entered into an Inducement Letter with certain warrant holders for the exercise of certain outstanding warrants to purchase up to an aggregate of <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250430__us-gaap--TypeOfArrangementAxis__custom--InducementLetterMember_zNGqhtQbf3f3" title="Warrants to purchase shares">630,376 shares of common stock of the Company, par value $0.0001 per share. The warrants were issued in March 2025 and have an exercise price of $<span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250430__us-gaap--TypeOfArrangementAxis__custom--InducementLetterMember_za1Q0qmawbn7" title="Warrant, exercise price">3.24 per share. The shares of common stock issuable upon exercise of such outstanding warrants are registered pursuant to an effective registration statement on Form S-3. In consideration for the immediate exercise of the warrants for cash and the payment of an additional $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250430__us-gaap--TypeOfArrangementAxis__custom--InducementLetterMember__us-gaap--StatementEquityComponentsAxis__custom--UnregisteredWarrantMember_zzoPMj6Pgk5e" title="Warrant, exercise price">0.125 per new unregistered warrant (an additional $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfWarrants_c20250401__20250430__us-gaap--TypeOfArrangementAxis__custom--InducementLetterMember__us-gaap--StatementEquityComponentsAxis__custom--UnregisteredWarrantMember_znIm4fbogmc3" title="Gross proceeds">157,594 included in the gross proceeds to the Company), pursuant to the Inducement Agreement, the Company agreed to issue and sell unregistered warrants to purchase shares of common stock. The new warrants (the “Common Warrants”) are exercisable for an aggregate of up to <span id="xdx_90A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisable_c20250401__20250430__us-gaap--TypeOfArrangementAxis__custom--InducementLetterMember__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember__srt--RangeAxis__srt--MaximumMember_zMJwVWjQ0yp6" title="Number of warrants exercisable">1,260,752 shares of common stock. The Common Warrants have an exercise price of $<span id="xdx_903_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250430__us-gaap--TypeOfArrangementAxis__custom--InducementLetterMember__us-gaap--StatementEquityComponentsAxis__custom--CommonWarrantsMember_zq9xJb6iFNK6" title="Warrant, exercise price">1.90 per share and are immediately exercisable for shares of common stock. One half of the Common Warrants will expire after eighteen (<span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtM_c20250430__us-gaap--TypeOfArrangementAxis__custom--InducementLetterMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantOneMember_zRectrNMH8x6" title="Warrants term">18) months and the other half will expire after five (<span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20250430__us-gaap--TypeOfArrangementAxis__custom--InducementLetterMember__us-gaap--StatementEquityComponentsAxis__custom--WarrantTwoMember_z0IY2TiAxkd4" title="Warrants term">5) years. The gross proceeds to the Company from the exercise of the warrants and payment for Common Warrants was approximately $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOfWarrants_pn5n6_c20250401__20250430__us-gaap--TypeOfArrangementAxis__custom--InducementLetterMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z4yrZrbBN044" title="Gross proceeds">2.2 million, prior to deducting placement agent fees and estimated offering expenses. The Company utilized a placement agent for the 2025 April Warrant Inducement and incurred approximately $0.3 million in legal fees and other closing costs. Additionally, the Company issued to the placement agent as compensation unregistered warrants to purchase up to <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250430__us-gaap--TypeOfArrangementAxis__custom--InducementLetterMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zjp6BvaUFmWj" title="Purchase of warrants">44,126 shares of common stock, equal to 7.0% of the aggregate number of shares of Common Stock (or warrants) placed in the transaction. The placement agent warrants expire on <span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20250430__us-gaap--TypeOfArrangementAxis__custom--InducementLetterMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zI5GURUs9pa9" title="Warrant maturity date">April 24, 2030, and have an exercise price of $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250430__us-gaap--TypeOfArrangementAxis__custom--InducementLetterMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zWW6hcXyJ6G4" title="Warrant exercise price">4.05 per share of common stock. The closing of the offering occurred on April 24, 2025. 2025 Registered Direct Offering and 2025 March Warrant Offering In March 2025, the Company entered into a definitive SPA with certain institutional investors, pursuant to which the Company agreed to issue and sell in a registered direct offering, (i) an aggregate of <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250301__20250331__us-gaap--StatementEquityComponentsAxis__custom--RegisteredDirectOfferingMember_zdqE5BHiswM8" title="Purchase of shares through securities purchase agreement">239,594 shares of common stock, par value $0.0001 per share at an offering price of $3.49 per share, (ii) pre-funded warrants to purchase up to <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250301__20250331__us-gaap--StatementEquityComponentsAxis__custom--PrefundedWarrantMember_zRopEuP2Idib" title="Purchase of shares through securities purchase agreement">75,594 shares of common stock, at a price per pre-funded warrant equal to $3.4899, the price per share less $<span id="xdx_909_ecustom--AgentFeesAndOfferingExpensesPerShare_iI_c20250331__us-gaap--StatementEquityComponentsAxis__custom--PrefundedWarrantMember_z6OVDYUF5h16" title="Agent fees and offering expenses , per share">0.0001, for gross proceeds of approximately $<span id="xdx_906_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20250301__20250331__us-gaap--StatementEquityComponentsAxis__custom--PrefundedWarrantMember_znAOHRGbjoSe" title="Common stock, gross proceeds">1.1 million before the deduction of placement agent fees and offering expenses. The pre-funded warrants were fully exercised as of March 31, 2025, and the related common shares were issued in April 2025. In a concurrent private placement, pursuant to the terms of the SPA, the Company also agreed to issue and sell unregistered warrants to purchase up to <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250331__us-gaap--StatementEquityComponentsAxis__custom--SeriesAFiveWarrantsMember_z2JRDkO1VuN6" title="Purchase of warrants">315,188 shares of Common Stock (the “Series A-5 Warrants”), and Series A-6 warrants to purchase up to <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250331__us-gaap--StatementEquityComponentsAxis__custom--SeriesASixWarrantsMember_zHrPCtuerDNg" title="Purchase of warrants">315,188 shares of Common Stock (the “Series A-6 Warrants”), to purchase up to an aggregate 630,376 shares of Common Stock. The warrants have an exercise price of $3.24 per share and are exercisable immediately. The Series A-5 Warrants will expire eighteen (<span id="xdx_903_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtM_c20250331__us-gaap--TypeOfArrangementAxis__custom--InducementLetterMember__us-gaap--StatementEquityComponentsAxis__custom--SeriesAFiveWarrantsMember_zGqsdyghTjz9" title="Warrants term">18) months after issuance and the Series A-6 Warrants will expire five (5) years after issuance. Warrants The following table provides a summary of outstanding warrants to purchase shares of common stock as of March 31, 2026: SCHEDULE OF OUTSTANDING WARRANT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Reference</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Shares Underlying Outstanding Warrants</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Exercise Price</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Description</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Classification</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 8%; text-align: center">(a)</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantOneMember_fKGEp_zjibj6qXC61k" title="Outstanding warrant">992,000</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">$<span id="xdx_906_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantOneMember__srt--RangeAxis__srt--MinimumMember_fKGEp_zNgvRUNiDkqb" title="Exercise price">2.50 - $<span id="xdx_90C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantOneMember__srt--RangeAxis__srt--MaximumMember_fKGEp_z0oclUYzmFb5" title="Exercise price">3.125</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 24%; text-align: center">November 2025 Warrants</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 20%; text-align: center">Equity</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: center">(b)</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantTwoMember_fKGIp_zHsJ9HNiE1ml" title="Outstanding warrant">134,314</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">$<span id="xdx_90A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantTwoMember__srt--RangeAxis__srt--MinimumMember_fKGIp_z1WW6lJdQTq2" title="Exercise price">1.90 - $<span id="xdx_90F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantTwoMember__srt--RangeAxis__srt--MaximumMember_fKGIp_zdEEZmb2XlLl" title="Exercise price">4.05</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">April 2025 Warrants</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">Equity</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: center">(c)</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantThreeMember_fKGMp_zpL2lAMXVaxb" title="Outstanding warrant">22,063</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">$<span id="xdx_908_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantThreeMember_fKGMp_zRORobOJLzja" title="Exercise price">4.3625</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">March 2025 Warrants</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">Equity</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: center">(d)</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantFourMember_fKGQp_z9lqSo0BwO33" title="Outstanding warrant">1,864,545</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">$<span id="xdx_90A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantFourMember__srt--RangeAxis__srt--MinimumMember_fKGQp_zFV3613245pe" title="Exercise price">7.05 - $<span id="xdx_90D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantFourMember__srt--RangeAxis__srt--MaximumMember_fKGQp_z2yHW7FPbrYi" title="Exercise price">8.8125</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">August 2024 Warrants</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">Equity</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: center">(e)</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantFiveMember_fKGUp_zkk3VccDNPbg" title="Outstanding warrant">16,811</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">$<span id="xdx_902_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantFiveMember_fKGUp_zmJZeWbtru9j" title="Exercise price">24.56</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">February 2024 Warrants</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">Equity</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: center">(f)</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantSixMember_fKGYp_zn5z7cWVb0Rb" title="Outstanding warrant">162,881</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">$<span id="xdx_901_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantSixMember__srt--RangeAxis__srt--MinimumMember_fKGYp_zSsHbVJDZKk6" title="Exercise price">7.05 - $<span id="xdx_90A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantSixMember__srt--RangeAxis__srt--MaximumMember_fKGYp_zNsi8ocLord8" title="Exercise price">23.51</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">2023 Notes Warrants</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">Equity</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">(g)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantSevenMember_fKGcp_zXguvqzgHmRd" title="Outstanding warrant">73,474</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right">$<span id="xdx_90B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantSevenMember__srt--RangeAxis__srt--MinimumMember_fKGcp_zM6FAI8l6aI4" title="Exercise price">54.56 - $<span id="xdx_905_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantSevenMember__srt--RangeAxis__srt--MaximumMember_fKGcp_z5c6tCJToCXg" title="Exercise price">41,400</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt">Other Warrants</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt">Equity & Liability</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">3,266,088</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(a)</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.1in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On November 14, 2025, the Company issued <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20251114__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zZtY7m3LKQkl" title="Warrants issued">880,000 equity classified warrants to certain institutional investors with the Series B Preferred Stock Financing. The warrants have an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20251114__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zIYcn5X5PFGe" title="Warrant exercise price">2.50 per share and are immediately exercisable for shares of common stock and expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20251114__us-gaap--StatementClassOfStockAxis__custom--WarrantsOneMember_zI384JyBAGS9" title="Warrant expiration date">January 7, 2031. In connection with the Series B Preferred Stock Financing, there were <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20251114__20251114__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zdix2G7LB464" title="Warrant exercised">112,000 warrants issued to placement agent. The placement agent warrants were immediately exercisable with an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20251114__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_z2ig7Gw8pQVc" title="Warrant exercise price">3.125 per share and expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20251114__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zBFqausQay16" title="Warrant expiration date">January 7, 2031.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(b)</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.1in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On April 24, 2025, the Company issued <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250424__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zaQyKBKtsGPh" title="Warrants issued">1,304,878 equity classified warrants (Common Warrants and placement agent warrants) in connection with the Inducement Letter of the 2025 April warrant inducement. The Common Warrants have an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250424__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zXRhIY3d6QVg" title="Warrant exercise price">1.90 per share and are immediately exercisable for shares of common stock. One half of the Common Warrants will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20250424__us-gaap--StatementClassOfStockAxis__custom--WarrantsOneMember_z0WwRS6YWeS" title="Warrant expiration date">October 26, 2026, and the other half will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20250424__us-gaap--StatementClassOfStockAxis__custom--WarrantsTwoMember_zemFCcvYLrBg" title="Warrant expiration date">April 24, 2030. The placement agent warrants were immediately exercisable with an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250424__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_zBDZ1i7Fme66" title="Warrant exercise price">4.05 per share and expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20250424__us-gaap--StatementClassOfStockAxis__custom--WarrantsTwoMember_zS5mlz3VeHX7" title="Warrant expiration date">April 24, 2030. As of March 31, 2026, there have been <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zgic87Ca5lz3" title="Warrant exercised">1,170,564 warrants exercised at an exercise price of $1.90 per share.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">(c)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On March 31, 2025, in connection with the 2025 Registered Direct Offering and 2025 March Warrant Offering, the Company issued equity classified warrants to purchase <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--InstitutionalInvestorMember_zdgwSkQHKIRj" title="Warrants issued">652,439 shares to certain institutional investors and the placement agent. The warrants were issued in connection with the 2025 Registered Direct Offering and 2025 March Warrant Offering. The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--InvestorWarrantsMember_zEPSf7rmWkNj" title="Warrants issued">630,376 investor warrants have an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--InvestorWarrantsMember_zHRcgtyeBzyg" title="Warrant exercise price">3.24 per share. One half of the warrants will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20250331__us-gaap--StatementClassOfStockAxis__custom--WarrantsOneMember_zYY6dIxqOmKd" title="Warrant expiration date">October 1, 2026, and the other half will expire on March 31, 2030. The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_zbnIqBoMyrnj" title="Warrants issued">22,063 placement agent warrants have an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_zob8MAp3KAJ9" title="Warrant exercise price">4.3625 per share and expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_zSbEIGOjMpFk" title="Warrant expiration date">March 30, 2030. In connection with the 2025 April Warrant Inducement, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20250301__20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--InvestorWarrantsMember_zoMQTb3kGSpb" title="Warrants exercised">630,376 investor warrants were exercised. As of March 31, 2026, the placement agent warrants remain outstanding.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">(d)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On August 29, 2024, in connection with the 2024 Registered Direct Offering and 2024 August Warrant Inducement, the Company issued equity classified warrants to purchase <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240829__us-gaap--ClassOfWarrantOrRightAxis__custom--InstitutionalInvestorMember_zFAtBoYhgYYk" title="Warrants issued">1,964,666 shares to certain institutional investors and the placement agent. The warrants were issued in connection with the 2024 Registered Direct Offering and the 2024 August Warrant Inducement. The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240829__us-gaap--ClassOfWarrantOrRightAxis__custom--InvestorWarrantsMember_zp1GSIVqoYP7" title="Warrants issued">1,914,466 investor warrants have an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240829__us-gaap--ClassOfWarrantOrRightAxis__custom--InvestorWarrantsMember_z1rIG8cHFabk" title="Warrant exercise price">7.05 per share. One half of the warrants expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20240829__us-gaap--StatementClassOfStockAxis__custom--WarrantsOneMember_zZNeSB1IxCRl" title="Warrant expiration date">May 21, 2026, and the other half expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20240829__us-gaap--StatementClassOfStockAxis__custom--WarrantsTwoMember_zcbhbepSpjZf" title="Warrant expiration date">November 21, 2029. The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240829__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_zeWrDzmjemei" title="Warrants issued">50,200 placement agent warrants have an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240829__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_ziPhsjIokJS7" title="Warrant exercise price">8.8125 per share and expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20240829__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_zy4gfdUjNIP9" title="Warrant expiration date">August 28, 2029. As of March 31, 2026, there have been <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20260101__20260331__us-gaap--ClassOfWarrantOrRightAxis__custom--InvestorWarrantsMember_zbtNDgr30q4" title="Warrants exercised">100,121 warrants exercised.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(e)</td> <td style="font-family: Times New Roman, Times, Serif; width: 0.1in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On February 12, 2024, the Company issued <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240212__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zN2PWgOWtkKg" title="Warrants issued">497,047 equity classified warrants (Series A Warrants, Series B Warrants and placement agent warrants) in connection with the Inducement Letter for the 2024 February warrant inducement and related warrant restructuring. The Series A and Series B Warrants were immediately exercisable with an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240212__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember_z1td5M7EVsvg" title="Warrant exercise price">15.90 per share and expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20240212__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesAWarrantsMember_zdpBsud2lSd" title="Warrant expiration date">August 14, 2025 and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20240212__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember_zCWHmisYzUE4" title="Warrant expiration date">May 12, 2028, respectively. The placement agent warrants were immediately exercisable with an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240212__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_z9FZ9yNRjCQb" title="Warrant exercise price">24.56 per share and expire on May 12, 2028. In connection with the 2024 August Warrant Inducement, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20240801__20240831__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember_zqThMNCpiss8" title="Warrant exercised">480,236 Series A and Series B warrants were exercised. As of March 31, 2026, the placement agent warrants remain outstanding.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">(f)</td> <td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On October 25, 2023, and November 28, 2023, the Company issued warrants to purchase <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20231025__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zlK2QcpcXf9g" title="Warrants issued">83,714 shares and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20231128__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zNLxRJyRrYkj" title="Warrants issued">167,428 shares, respectively. The warrants were immediately exercisable with an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231025__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zeuPE6JeLY11" title="Warrants issued"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231128__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zl5wdTTdcdOi" title="Warrants issued">23.51 per share and expire on October 25, 2028, and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20231025__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z2YSnaRaQIX8" title="Warrant expiration date">November 28, 2028, respectively. In January 2024, a holder of the warrants exercised <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240131__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zS6XQ0noHo3i" title="Warrants exercisable">88,261 warrants at an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20240131__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zAMOtERgKbhb" title="Warrant, exercise price">23.51 per share. In August 2024, an inducement letter was issued to a holder of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240831__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zfVTMkrXFYX6" title="Warrants to purchase common shares">133,334 warrants to reduce the exercise price from $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231128__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zmEZQECR0hs6" title="Warrant exercise price">23.51 to $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20240831__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zarjOHgSuV4c" title="Warrant exercise price">7.05 per share.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">(g)</td> <td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">At various dates through September 30, 2023, the Company assumed or issued a total of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20230930_zVFljD4JdOTe" title="Warrants issued">73,474 warrants to provide holders the right to purchase common stock at exercise prices ranging from $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20230930__srt--RangeAxis__srt--MinimumMember_zNirwcB4wDm3" title="Warrant exercise price">54.60 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20230930__srt--RangeAxis__srt--MaximumMember_zY5phxWJTX6k" title="Warrant exercise price">41,400 per share. A total of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20230930__us-gaap--StatementEquityComponentsAxis__custom--PublicWarrantMember_z3taopYEcnW6" title="Class of warrant or right, outstanding">2,778 of the outstanding warrants are public warrants which trade on the OTC Pink Open Market under the ticker symbol ENSCW. A total of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20230930_zHTarYSzCe7k" title="Class of warrant or right, outstanding">2,901 outstanding warrants (issued in connection with the 2021 and 2022 Notes) are liability-classified due to certain cash settlement features embedded within the warrant agreements. The remaining warrants are equity classified. The warrants expire beginning <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_ecustom--WarrantsAndRightsOutstandingMaturityDateDescription_c20230930__20230930_zLqFNkA5kvqa" title="Warrant expiration date">June 30, 2026, through August 7, 2028.</td></tr> </table>

250000000

1500000

0.0001

4500

SCHEDULE OF CONVERTIBLE PREFERRED STOCK <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Shares Issued</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Shares Outstanding</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Net Carrying Value</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Aggregate Liquidation Preference</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 28%; text-align: left; padding-bottom: 1pt">Series B</td><td style="font-family: Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--PreferredStockSharesIssued_iI_c20260331__us-gaap--StatementClassOfStockAxis__us-gaap--PreferredClassBMember_ztyAvqy8CrKg" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 14%; text-align: right" title="Shares Issued">4,000</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--PreferredStockSharesOutstanding_iI_c20260331__us-gaap--StatementClassOfStockAxis__us-gaap--PreferredClassBMember_zpI1ar41fzU" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 14%; text-align: right" title="Shares Outstanding">1,405</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_989_ecustom--PreferredStockCarryingValue_iI_c20260331__us-gaap--StatementClassOfStockAxis__us-gaap--PreferredClassBMember_z9lCDuVSFZhi" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 14%; text-align: right" title="Net Carrying Value">3,483,269</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--PreferredStockLiquidationPreferenceValue_iI_c20260331__us-gaap--StatementClassOfStockAxis__us-gaap--PreferredClassBMember_zNmF209JuAt9" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 14%; text-align: right" title="Aggregate Liquidation Preference">1,545,500</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--PreferredStockSharesIssued_iI_c20260331_z99du3HgSH7l" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Shares Issued">4,000</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--PreferredStockSharesOutstanding_iI_c20260331_zt1EX99RoU4f" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Shares Outstanding">1,405</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98E_ecustom--PreferredStockCarryingValue_iI_c20260331_zDsmZUyyK382" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Net Carrying Value">3,483,269</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_986_eus-gaap--PreferredStockLiquidationPreferenceValue_iI_c20260331_zDAtomOt3Or7" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Aggregate Liquidation Preference">1,545,500</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

4000

1405

3483269

1545500

4000

1405

3483269

1545500

4000000.0

16000000.0

1513

665922

2487

880000

1100

0.0001

2.50

0.040

1.25

1100

2.50

At the holder’s election, the conversion price may be adjusted to 95% of the lowest volume-weighted average price (“VWAP”) of the Company’s common stock during the five trading days preceding conversion, subject to a floor price of $0.4104. Conversions are subject to customary beneficial ownership limitations.

0.90 0.4104 1.20

630376

0.0001

3.24

0.125

157594

1260752

1.90

P18M

P5Y

2200000

300000

44126

2030-04-24

4.05

239594

0.0001

3.49

75594

3.4899

0.0001

1100000

315188

630376

3.24

P18M

P5Y

The following table provides a summary of outstanding warrants to purchase shares of common stock as of March 31, 2026: SCHEDULE OF OUTSTANDING WARRANT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Reference</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Shares Underlying Outstanding Warrants</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Exercise Price</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Description</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Classification</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 8%; text-align: center">(a)</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantOneMember_fKGEp_zjibj6qXC61k" title="Outstanding warrant">992,000</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right">$<span id="xdx_906_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantOneMember__srt--RangeAxis__srt--MinimumMember_fKGEp_zNgvRUNiDkqb" title="Exercise price">2.50 - $<span id="xdx_90C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantOneMember__srt--RangeAxis__srt--MaximumMember_fKGEp_z0oclUYzmFb5" title="Exercise price">3.125</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 24%; text-align: center">November 2025 Warrants</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 20%; text-align: center">Equity</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: center">(b)</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantTwoMember_fKGIp_zHsJ9HNiE1ml" title="Outstanding warrant">134,314</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">$<span id="xdx_90A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantTwoMember__srt--RangeAxis__srt--MinimumMember_fKGIp_z1WW6lJdQTq2" title="Exercise price">1.90 - $<span id="xdx_90F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantTwoMember__srt--RangeAxis__srt--MaximumMember_fKGIp_zdEEZmb2XlLl" title="Exercise price">4.05</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">April 2025 Warrants</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">Equity</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: center">(c)</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantThreeMember_fKGMp_zpL2lAMXVaxb" title="Outstanding warrant">22,063</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">$<span id="xdx_908_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantThreeMember_fKGMp_zRORobOJLzja" title="Exercise price">4.3625</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">March 2025 Warrants</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">Equity</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: center">(d)</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantFourMember_fKGQp_z9lqSo0BwO33" title="Outstanding warrant">1,864,545</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">$<span id="xdx_90A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantFourMember__srt--RangeAxis__srt--MinimumMember_fKGQp_zFV3613245pe" title="Exercise price">7.05 - $<span id="xdx_90D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantFourMember__srt--RangeAxis__srt--MaximumMember_fKGQp_z2yHW7FPbrYi" title="Exercise price">8.8125</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">August 2024 Warrants</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">Equity</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: center">(e)</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantFiveMember_fKGUp_zkk3VccDNPbg" title="Outstanding warrant">16,811</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">$<span id="xdx_902_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantFiveMember_fKGUp_zmJZeWbtru9j" title="Exercise price">24.56</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">February 2024 Warrants</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">Equity</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: center">(f)</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantSixMember_fKGYp_zn5z7cWVb0Rb" title="Outstanding warrant">162,881</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">$<span id="xdx_901_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantSixMember__srt--RangeAxis__srt--MinimumMember_fKGYp_zSsHbVJDZKk6" title="Exercise price">7.05 - $<span id="xdx_90A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantSixMember__srt--RangeAxis__srt--MaximumMember_fKGYp_zNsi8ocLord8" title="Exercise price">23.51</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">2023 Notes Warrants</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center">Equity</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">(g)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantSevenMember_fKGcp_zXguvqzgHmRd" title="Outstanding warrant">73,474</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right">$<span id="xdx_90B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantSevenMember__srt--RangeAxis__srt--MinimumMember_fKGcp_zM6FAI8l6aI4" title="Exercise price">54.56 - $<span id="xdx_905_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityOutstandingExercisePrice_iI_c20260331__us-gaap--AwardTypeAxis__custom--WarrantSevenMember__srt--RangeAxis__srt--MaximumMember_fKGcp_z5c6tCJToCXg" title="Exercise price">41,400</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt">Other Warrants</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt">Equity & Liability</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">3,266,088</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(a)</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.1in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On November 14, 2025, the Company issued <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20251114__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zZtY7m3LKQkl" title="Warrants issued">880,000 equity classified warrants to certain institutional investors with the Series B Preferred Stock Financing. The warrants have an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20251114__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zIYcn5X5PFGe" title="Warrant exercise price">2.50 per share and are immediately exercisable for shares of common stock and expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20251114__us-gaap--StatementClassOfStockAxis__custom--WarrantsOneMember_zI384JyBAGS9" title="Warrant expiration date">January 7, 2031. In connection with the Series B Preferred Stock Financing, there were <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20251114__20251114__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zdix2G7LB464" title="Warrant exercised">112,000 warrants issued to placement agent. The placement agent warrants were immediately exercisable with an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20251114__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_z2ig7Gw8pQVc" title="Warrant exercise price">3.125 per share and expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20251114__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zBFqausQay16" title="Warrant expiration date">January 7, 2031.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(b)</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.1in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On April 24, 2025, the Company issued <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_904_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250424__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zaQyKBKtsGPh" title="Warrants issued">1,304,878 equity classified warrants (Common Warrants and placement agent warrants) in connection with the Inducement Letter of the 2025 April warrant inducement. The Common Warrants have an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250424__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zXRhIY3d6QVg" title="Warrant exercise price">1.90 per share and are immediately exercisable for shares of common stock. One half of the Common Warrants will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20250424__us-gaap--StatementClassOfStockAxis__custom--WarrantsOneMember_z0WwRS6YWeS" title="Warrant expiration date">October 26, 2026, and the other half will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20250424__us-gaap--StatementClassOfStockAxis__custom--WarrantsTwoMember_zemFCcvYLrBg" title="Warrant expiration date">April 24, 2030. The placement agent warrants were immediately exercisable with an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250424__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_zBDZ1i7Fme66" title="Warrant exercise price">4.05 per share and expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20250424__us-gaap--StatementClassOfStockAxis__custom--WarrantsTwoMember_zS5mlz3VeHX7" title="Warrant expiration date">April 24, 2030. As of March 31, 2026, there have been <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zgic87Ca5lz3" title="Warrant exercised">1,170,564 warrants exercised at an exercise price of $1.90 per share.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">(c)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On March 31, 2025, in connection with the 2025 Registered Direct Offering and 2025 March Warrant Offering, the Company issued equity classified warrants to purchase <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--InstitutionalInvestorMember_zdgwSkQHKIRj" title="Warrants issued">652,439 shares to certain institutional investors and the placement agent. The warrants were issued in connection with the 2025 Registered Direct Offering and 2025 March Warrant Offering. The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--InvestorWarrantsMember_zEPSf7rmWkNj" title="Warrants issued">630,376 investor warrants have an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--InvestorWarrantsMember_zHRcgtyeBzyg" title="Warrant exercise price">3.24 per share. One half of the warrants will expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20250331__us-gaap--StatementClassOfStockAxis__custom--WarrantsOneMember_zYY6dIxqOmKd" title="Warrant expiration date">October 1, 2026, and the other half will expire on March 31, 2030. The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_zbnIqBoMyrnj" title="Warrants issued">22,063 placement agent warrants have an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_zob8MAp3KAJ9" title="Warrant exercise price">4.3625 per share and expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_zSbEIGOjMpFk" title="Warrant expiration date">March 30, 2030. In connection with the 2025 April Warrant Inducement, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20250301__20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--InvestorWarrantsMember_zoMQTb3kGSpb" title="Warrants exercised">630,376 investor warrants were exercised. As of March 31, 2026, the placement agent warrants remain outstanding.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">(d)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On August 29, 2024, in connection with the 2024 Registered Direct Offering and 2024 August Warrant Inducement, the Company issued equity classified warrants to purchase <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240829__us-gaap--ClassOfWarrantOrRightAxis__custom--InstitutionalInvestorMember_zFAtBoYhgYYk" title="Warrants issued">1,964,666 shares to certain institutional investors and the placement agent. The warrants were issued in connection with the 2024 Registered Direct Offering and the 2024 August Warrant Inducement. The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240829__us-gaap--ClassOfWarrantOrRightAxis__custom--InvestorWarrantsMember_zp1GSIVqoYP7" title="Warrants issued">1,914,466 investor warrants have an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240829__us-gaap--ClassOfWarrantOrRightAxis__custom--InvestorWarrantsMember_z1rIG8cHFabk" title="Warrant exercise price">7.05 per share. One half of the warrants expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20240829__us-gaap--StatementClassOfStockAxis__custom--WarrantsOneMember_zZNeSB1IxCRl" title="Warrant expiration date">May 21, 2026, and the other half expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20240829__us-gaap--StatementClassOfStockAxis__custom--WarrantsTwoMember_zcbhbepSpjZf" title="Warrant expiration date">November 21, 2029. The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240829__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_zeWrDzmjemei" title="Warrants issued">50,200 placement agent warrants have an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240829__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_ziPhsjIokJS7" title="Warrant exercise price">8.8125 per share and expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20240829__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_zy4gfdUjNIP9" title="Warrant expiration date">August 28, 2029. As of March 31, 2026, there have been <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20260101__20260331__us-gaap--ClassOfWarrantOrRightAxis__custom--InvestorWarrantsMember_zbtNDgr30q4" title="Warrants exercised">100,121 warrants exercised.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(e)</td> <td style="font-family: Times New Roman, Times, Serif; width: 0.1in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On February 12, 2024, the Company issued <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240212__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zN2PWgOWtkKg" title="Warrants issued">497,047 equity classified warrants (Series A Warrants, Series B Warrants and placement agent warrants) in connection with the Inducement Letter for the 2024 February warrant inducement and related warrant restructuring. The Series A and Series B Warrants were immediately exercisable with an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240212__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember_z1td5M7EVsvg" title="Warrant exercise price">15.90 per share and expire on <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20240212__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesAWarrantsMember_zdpBsud2lSd" title="Warrant expiration date">August 14, 2025 and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20240212__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember_zCWHmisYzUE4" title="Warrant expiration date">May 12, 2028, respectively. The placement agent warrants were immediately exercisable with an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240212__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_z9FZ9yNRjCQb" title="Warrant exercise price">24.56 per share and expire on May 12, 2028. In connection with the 2024 August Warrant Inducement, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20240801__20240831__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantsMember_zqThMNCpiss8" title="Warrant exercised">480,236 Series A and Series B warrants were exercised. As of March 31, 2026, the placement agent warrants remain outstanding.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">(f)</td> <td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On October 25, 2023, and November 28, 2023, the Company issued warrants to purchase <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20231025__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zlK2QcpcXf9g" title="Warrants issued">83,714 shares and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20231128__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zNLxRJyRrYkj" title="Warrants issued">167,428 shares, respectively. The warrants were immediately exercisable with an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231025__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zeuPE6JeLY11" title="Warrants issued"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231128__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zl5wdTTdcdOi" title="Warrants issued">23.51 per share and expire on October 25, 2028, and <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20231025__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z2YSnaRaQIX8" title="Warrant expiration date">November 28, 2028, respectively. In January 2024, a holder of the warrants exercised <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240131__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zS6XQ0noHo3i" title="Warrants exercisable">88,261 warrants at an exercise price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20240131__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zAMOtERgKbhb" title="Warrant, exercise price">23.51 per share. In August 2024, an inducement letter was issued to a holder of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240831__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zfVTMkrXFYX6" title="Warrants to purchase common shares">133,334 warrants to reduce the exercise price from $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20231128__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zmEZQECR0hs6" title="Warrant exercise price">23.51 to $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20240831__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zarjOHgSuV4c" title="Warrant exercise price">7.05 per share.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">(g)</td> <td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">At various dates through September 30, 2023, the Company assumed or issued a total of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20230930_zVFljD4JdOTe" title="Warrants issued">73,474 warrants to provide holders the right to purchase common stock at exercise prices ranging from $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_903_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20230930__srt--RangeAxis__srt--MinimumMember_zNirwcB4wDm3" title="Warrant exercise price">54.60 - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20230930__srt--RangeAxis__srt--MaximumMember_zY5phxWJTX6k" title="Warrant exercise price">41,400 per share. A total of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_908_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20230930__us-gaap--StatementEquityComponentsAxis__custom--PublicWarrantMember_z3taopYEcnW6" title="Class of warrant or right, outstanding">2,778 of the outstanding warrants are public warrants which trade on the OTC Pink Open Market under the ticker symbol ENSCW. A total of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_902_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20230930_zHTarYSzCe7k" title="Class of warrant or right, outstanding">2,901 outstanding warrants (issued in connection with the 2021 and 2022 Notes) are liability-classified due to certain cash settlement features embedded within the warrant agreements. The remaining warrants are equity classified. The warrants expire beginning <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIE9VVFNUQU5ESU5HIFdBUlJBTlQgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90E_ecustom--WarrantsAndRightsOutstandingMaturityDateDescription_c20230930__20230930_zLqFNkA5kvqa" title="Warrant expiration date">June 30, 2026, through August 7, 2028.</td></tr> </table>

992000

2.50 3.125 November 2025 Warrants

134314

1.90 4.05 April 2025 Warrants

22063

4.3625 March 2025 Warrants

1864545

7.05 8.8125 August 2024 Warrants

16811

24.56 February 2024 Warrants

162881

7.05 23.51 2023 Notes Warrants

73474

54.56 41400 Other Warrants

3266088

880000

2.50

2031-01-07

112000

3.125

2031-01-07

1304878

1.90

2026-10-26

2030-04-24

4.05

2030-04-24

1170564

1.90

652439

630376

3.24

2026-10-01

22063

4.3625

2030-03-30

630376

1964666

1914466

7.05

2026-05-21

2029-11-21

50200

8.8125

2029-08-28

100121

497047

15.90

2025-08-14

2028-05-12

24.56

480236

83714

167428

23.51

2028-11-28

88261

23.51

133334

23.51

7.05

73474

54.60

41400

2778

2901

June 30, 2026, through August 7, 2028

NOTE 9 - STOCK-BASED COMPENSATION The Company assumed the 2021 Omnibus Incentive Plan (“Plan”) in 2021. In January 2026, shareholders approved an increase of <span id="xdx_908_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20260131__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneOmnibusIncentivePlanMember_zF53dDqZg7w9" title="Common stock, capital shares reserved for future issuance">600,000 shares available for future grant under the Plan. In February 2026, the Company’s Board approved an annual increase of <span id="xdx_90C_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20260228__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneOmnibusIncentivePlanMember_zqNb7eJ09Hp3" title="Common stock, capital shares reserved for future issuance">228,749 shares available for future grant under the Plan. The Company recognized within general and administrative expense stock-based compensation expense of $<span id="xdx_90E_eus-gaap--AllocatedShareBasedCompensationExpense_c20260101__20260331__custom--StatementOfIncomeLocationAxis__custom--GeneralAndAdministrativeExpensesMember_zFoTSuvqZeA2" title="Share based compensation expense">3,533 and $<span id="xdx_90B_eus-gaap--AllocatedShareBasedCompensationExpense_c20250101__20250331__custom--StatementOfIncomeLocationAxis__custom--GeneralAndAdministrativeExpensesMember_zOUvJyXRG6Kd" title="Share based compensation expense">10,996 for the three months ended March 31, 2026 and 2025, respectively. During three months ended March 31, 2026 and 2025, the Company recognized within research and development expense stock-based compensation of $<span id="xdx_909_eus-gaap--AllocatedShareBasedCompensationExpense_c20260101__20260331__custom--StatementOfIncomeLocationAxis__custom--ResearchAndDevelopmentExpensesMember_zpgDmddr4s35" title="Share based compensation expense">5,210 and $<span id="xdx_901_eus-gaap--AllocatedShareBasedCompensationExpense_c20250101__20250331__custom--StatementOfIncomeLocationAxis__custom--ResearchAndDevelopmentExpensesMember_zb9ArWqKyin4" title="Share based compensation expense">51,348, respectively. Option Activity The following table summarizes the Company’s stock option activity during the three months ended March 31, 2026: SCHEDULE OF STOCK OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Weighted average</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Options</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Exercise price</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Remaining contractual life</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Intrinsic value</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 36%">Outstanding at December 31, 2025</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20260101__20260331_zoG4iiLKQ4Ue" style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Option outstanding, beginning balance">102,785</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20260101__20260331_zrNUhgVWEikf" style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Weighted average exercise price. beginning balance">191.13</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_za0dN6uaf8Xl" title="Weighted average remaining contractual term">8.62</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp0p0_c20260101__20260331_zDgG5RFeT6m9" style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Aggregate intrinsic value, beginning balance">-</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif">Granted</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20260101__20260331_z6TGYNdHPZ7g" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Option outstanding, granted">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20260101__20260331_zQjKqU4CXNm6" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Weighted average exercise price, granted">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue_pp0p0_c20260101__20260331_zqak1xXsSHtc" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Aggregate intrinsic value, granted">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif">Exercised</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20260101__20260331_z6Ikg15jDpy9" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Option outstanding, exercised">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20260101__20260331_zNTLNXb5x0W7" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Weighted average exercise price, exercised">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_pp0p0_c20260101__20260331_zszDn2sImTGf" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Aggregate intrinsic value, exercised">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Expired / Forfeited</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20260101__20260331_zJs7u96kFtg3" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Option outstanding, expired or forfeited">(618</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_c20260101__20260331_zpkyB84pSZM1" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right" title="Weighted average exercise price, expired / forfeited">2,200.39</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodIntrinsicValue_pp0p0_c20260101__20260331_z9Uo5DaNjgBi" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right" title="Aggregate intrinsic value, expired or forfeited">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt">Outstanding at March 31, 2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20260101__20260331_zWDoyJk4hvse" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Option outstanding, ending balance">102,167</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20260101__20260331_zaS2gmuo8xdk" style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: right" title="Weighted average exercise price, ending balance">178.97</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260331_zdjLM17fk68g" title="Weighted average remaining contractual term">8.25</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pp0p0_c20260101__20260331_zGGDcbKH4gab" style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: right" title="Aggregate intrinsic value, ending balance">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif">Exercisable at March 31, 2026</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20260101__20260331_zMkZUyqjE9xd" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Option, exercisable">90,167</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20260101__20260331_zNTOptdZgMY7" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Weighted average exercise price, exercisable">202.50</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260331_zk79OxUY0Q95" title="Weighted average remaining contractual term, exercisable">8.14</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pp0p0_c20260101__20260331_zEHczkCOWzi1" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Aggregate intrinsic value, Exercisable">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Vested and expected to vest</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_iI_c20260331_zQtnwCKxRtf5" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Option vested or expected to vest">102,167</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice_iI_c20260331_zQ7hNv2O9RVd" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Weighted average exercise price, vested or expected to vest">178.97</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260331_z5HOIkP8k9Kj" title="Weighted average remaining contractual term, vested and expected to vest">8.25</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iI_pp0p0_c20260331_zkISSbZl2Q5j" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Aggregate intrinsic value, vested or expected to vest">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> Option Valuation The fair value of each stock option is determined on their respective grant date(s) using the Black-Scholes option-pricing model. The material assumptions used in the Black-Scholes model in estimating the fair value of the options granted are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected stock-price volatility. The expected volatility is derived from the historical volatilities of comparable publicly traded companies within the Company’s industry that the Company considers comparable to the Company’s business over a period approximately equal to the expected term. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected term. The expected term represents the period that the stock-based awards are expected to be outstanding. The Company’s historical share option exercise experience does not provide a reasonable basis upon which to estimate an expected term due to a lack of sufficient data. Therefore, the Company estimates the expected term for employees by using the simplified method provided by the Securities and Exchange Commission. The simplified method calculates the expected term as the average of the time-to-vesting and the contractual life of the options. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Risk-free interest rate. The risk-free interest rate is based on the U.S. Treasury yield in effect at the time of grant for zero coupon U.S. Treasury notes with maturities approximately equal to the expected term.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Expected dividend yield. The expected dividend is assumed to be zero as the Company has never paid dividends and has no current plans to pay any dividends on the Company’s common stock.</td></tr> </table> As of March 31, 2026, the Company had an aggregate of $9,186 of unrecognized share-based compensation cost, which is expected to be recognized over the weighted average period of <span id="xdx_901_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20260101__20260331_zrnLoUFziwC6" title="Weighted average period">1.80 years. Shares Reserved for Future Issuance The following shares of common stock are reserved for future issuance: SCHEDULE OF COMMON STOCK FUTURE ISSUANCE <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="2" 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; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Awards outstanding under the Plan</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zE5VQtPO3Qwf" style="width: 16%; text-align: right" title="Common Stock, capital shares reserved for future issuance">102,167</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Awards available for future grant under the Plan</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20260331__us-gaap--PlanNameAxis__custom--StockOptionAvailableForFutureGrantUnder2021OmnibusIncentivePlanMember_z4udXs9g9XBh" style="text-align: right" title="Common Stock, capital shares reserved for future issuance">843,752</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Warrants outstanding</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20260331__us-gaap--StatementEquityComponentsAxis__custom--WarrantOutstandingMember_zjcru7tDdqha" style="text-align: right" title="Common Stock, capital shares reserved for future issuance">3,266,088</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Shares for consultant compensation agreement outside the Plan</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20260331__us-gaap--TypeOfArrangementAxis__custom--ConsultantCompensationAgreementsMember_zMzUBC0BtXfj" style="text-align: right" title="Common Stock, capital shares reserved for future issuance">9,201</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Conversion of Series B preferred stock</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20260331__us-gaap--StatementClassOfStockAxis__custom--ConversionOfSeriesBPreferredStockMember_zdCV2A4f93Ed" style="border-bottom: Black 1pt solid; text-align: right" title="Common Stock, capital shares reserved for future issuance">2,886,552</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total shares of common stock reserved for future issuance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20260331_zRJv6UW6Kq2f" style="border-bottom: Black 2.5pt double; text-align: right" title="Total shares of common stock reserved for future issuance">7,107,760</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

600000

228749

3533

10996

5210

51348

The following table summarizes the Company’s stock option activity during the three months ended March 31, 2026: SCHEDULE OF STOCK OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Weighted average</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Options</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Exercise price</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Remaining contractual life</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Intrinsic value</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 36%">Outstanding at December 31, 2025</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20260101__20260331_zoG4iiLKQ4Ue" style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Option outstanding, beginning balance">102,785</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20260101__20260331_zrNUhgVWEikf" style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Weighted average exercise price. beginning balance">191.13</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_za0dN6uaf8Xl" title="Weighted average remaining contractual term">8.62</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp0p0_c20260101__20260331_zDgG5RFeT6m9" style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Aggregate intrinsic value, beginning balance">-</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif">Granted</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20260101__20260331_z6TGYNdHPZ7g" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Option outstanding, granted">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20260101__20260331_zQjKqU4CXNm6" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Weighted average exercise price, granted">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue_pp0p0_c20260101__20260331_zqak1xXsSHtc" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Aggregate intrinsic value, granted">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif">Exercised</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20260101__20260331_z6Ikg15jDpy9" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Option outstanding, exercised">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20260101__20260331_zNTLNXb5x0W7" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Weighted average exercise price, exercised">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_pp0p0_c20260101__20260331_zszDn2sImTGf" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Aggregate intrinsic value, exercised">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Expired / Forfeited</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20260101__20260331_zJs7u96kFtg3" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Option outstanding, expired or forfeited">(618</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_c20260101__20260331_zpkyB84pSZM1" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right" title="Weighted average exercise price, expired / forfeited">2,200.39</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodIntrinsicValue_pp0p0_c20260101__20260331_z9Uo5DaNjgBi" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right" title="Aggregate intrinsic value, expired or forfeited">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt">Outstanding at March 31, 2026</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20260101__20260331_zWDoyJk4hvse" style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right" title="Option outstanding, ending balance">102,167</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20260101__20260331_zaS2gmuo8xdk" style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: right" title="Weighted average exercise price, ending balance">178.97</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260331_zdjLM17fk68g" title="Weighted average remaining contractual term">8.25</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pp0p0_c20260101__20260331_zGGDcbKH4gab" style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: right" title="Aggregate intrinsic value, ending balance">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif">Exercisable at March 31, 2026</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20260101__20260331_zMkZUyqjE9xd" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Option, exercisable">90,167</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20260101__20260331_zNTOptdZgMY7" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Weighted average exercise price, exercisable">202.50</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260331_zk79OxUY0Q95" title="Weighted average remaining contractual term, exercisable">8.14</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pp0p0_c20260101__20260331_zEHczkCOWzi1" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Aggregate intrinsic value, Exercisable">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Vested and expected to vest</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_iI_c20260331_zQtnwCKxRtf5" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Option vested or expected to vest">102,167</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice_iI_c20260331_zQ7hNv2O9RVd" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Weighted average exercise price, vested or expected to vest">178.97</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260331_z5HOIkP8k9Kj" title="Weighted average remaining contractual term, vested and expected to vest">8.25</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue_iI_pp0p0_c20260331_zkISSbZl2Q5j" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Aggregate intrinsic value, vested or expected to vest">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

102785

191.13

P8Y7M13D

618

2200.39

102167

178.97

P8Y3M

90167

202.50

P8Y1M20D

102167

178.97

P8Y3M

9186

P1Y9M18D

The following shares of common stock are reserved for future issuance: SCHEDULE OF COMMON STOCK FUTURE ISSUANCE <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="2" 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; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Awards outstanding under the Plan</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zE5VQtPO3Qwf" style="width: 16%; text-align: right" title="Common Stock, capital shares reserved for future issuance">102,167</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Awards available for future grant under the Plan</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20260331__us-gaap--PlanNameAxis__custom--StockOptionAvailableForFutureGrantUnder2021OmnibusIncentivePlanMember_z4udXs9g9XBh" style="text-align: right" title="Common Stock, capital shares reserved for future issuance">843,752</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Warrants outstanding</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20260331__us-gaap--StatementEquityComponentsAxis__custom--WarrantOutstandingMember_zjcru7tDdqha" style="text-align: right" title="Common Stock, capital shares reserved for future issuance">3,266,088</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Shares for consultant compensation agreement outside the Plan</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20260331__us-gaap--TypeOfArrangementAxis__custom--ConsultantCompensationAgreementsMember_zMzUBC0BtXfj" style="text-align: right" title="Common Stock, capital shares reserved for future issuance">9,201</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Conversion of Series B preferred stock</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20260331__us-gaap--StatementClassOfStockAxis__custom--ConversionOfSeriesBPreferredStockMember_zdCV2A4f93Ed" style="border-bottom: Black 1pt solid; text-align: right" title="Common Stock, capital shares reserved for future issuance">2,886,552</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total shares of common stock reserved for future issuance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20260331_zRJv6UW6Kq2f" style="border-bottom: Black 2.5pt double; text-align: right" title="Total shares of common stock reserved for future issuance">7,107,760</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

102167

843752

3266088

9201

2886552

7107760

NOTE 10 - RELATED PARTIES As of March 31, 2026, the Company held a $<span id="xdx_901_eus-gaap--SeniorLongTermNotes_iI_pn5n6_c20260331__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember__srt--TitleOfIndividualAxis__custom--BoardMemberMember_zcD5JCYGNvw3" title="Debt financing amount">0.2 million senior secured convertible promissory note plus accrued interest and <span id="xdx_909_ecustom--WarrantOrRightExercisable_iI_c20260331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember__srt--TitleOfIndividualAxis__custom--BoardMemberMember_zwMpgBzwIDre" title="Warrants exercisable">29,547 warrants exercisable for common stock at $<span id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember__srt--TitleOfIndividualAxis__custom--BoardMemberMember_zFmvOeRO7IQ6" title="Warrant, exercise price">23.51 per share issued to a board member in connection to the issuance of the 2023 Notes. The Company and the board member have entered into a forbearance agreement that will expire on <span id="xdx_909_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_c20250425__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyThreeNotesMember__srt--TitleOfIndividualAxis__custom--BoardMemberMember_znDdDR8FD8pd" title="Warrant, expiration date">April 25, 2026 (see Note 11).

200000

29547

23.51

2026-04-25

NOTE 11 - SUBSEQUENT EVENTS On April 23, 2026, the Company amended its senior secured convertible promissory note payable to its board member to provide that the notes were converted into an aggregate of <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20260423__20260423__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zpprHHbDF3Fi" title="Shares issued">508,614 unregistered shares of common stock and unregistered warrants to purchase up to 254,307 unregistered shares of common stock at an exercise price of $<span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260423__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zmb4yBs9Ortl" title="Exercise price of warrants, per share">0.4840 per share, immediately exercisable and terminating two years after the issuance date. On April 6, 2026, the Company closed a private placement with an institutional investor pursuant to a Securities Purchase Agreement originally entered into on November 13, 2025. The Company issued <span id="xdx_901_eus-gaap--SharesIssued_iI_c20260406__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zvLI2fGN0OHc" title="Common stock issued">2,000 shares of Series B Preferred Stock convertible into up to 4,363,636 shares of common stock at a conversion price of $0.55 per share, for gross proceeds of $2.0 million before fees and expenses. In connection with the closing, the Company also issued (i) warrants to purchase up to 4,363,637 shares of common stock exercisable for <span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtM_c20260406__20260406__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zctcLcRZLPgc" title="Exerciseable term">18 months and (ii) warrants to purchase up to <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260406__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--WarrantOneMember_zRGqjEYu1lu1" title="Purchase of warrant">4,363,636 shares of common stock exercisable for <span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dc_c20260406__20260406__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--WarrantOneMember_zJHMa7ulbJsb" title="Exerciseable term">five years, in each case at an exercise price of $<span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260406__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--WarrantOneMember_zC1t8wIVJH4l" title="Warrant exercise price">0.55 per share and exercisable immediately upon issuance. Additionally, warrants to purchase up to <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260406__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--DebtInstrumentAxis__custom--WarrantTwoMember_z3HXyTIXY4g3" title="Purchase of warrant">261,818 shares of common stock were issued to the Company’s financial advisor. All warrants are subject to anti-dilution adjustments. In connection with closing, the Company amended its Certificate of Designation to increase the stated value per share of all outstanding Series B Preferred Stock from $<span id="xdx_909_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20260405__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zfMUYdOj31i6" title="Preferred stock, stated value">1,100 to $<span id="xdx_90A_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20260406__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zszcqrOcNmU3" title="Preferred stock, stated value">1,200 per share. Since April 1, 2026, the Company has issued 4.9 million shares of common stock upon the conversion of <span id="xdx_904_eus-gaap--ConversionOfStockSharesConverted1_c20260401__20260401__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zxtoNrJ5uy83" title="Conversion of shares">1,686 shares of Series B Preferred Stock.

508614

254307

0.4840

2000

4363636

0.55

2000000.0

4363637

P18M

4363636

P5Y

0.55

261818

1100

1200

4900000

1686

On November 14, 2025, the Company issued 880,000 equity classified warrants to certain institutional investors with the Series B Preferred Stock Financing. The warrants have an exercise price of $2.50 per share and are immediately exercisable for shares of common stock and expire on January 7, 2031. In connection with the Series B Preferred Stock Financing, there were 112,000 warrants issued to placement agent. The placement agent warrants were immediately exercisable with an exercise price of $3.125 per share and expire on January 7, 2031. On April 24, 2025, the Company issued 1,304,878 equity classified warrants (Common Warrants and placement agent warrants) in connection with the Inducement Letter of the 2025 April warrant inducement. The Common Warrants have an exercise price of $1.90 per share and are immediately exercisable for shares of common stock. One half of the Common Warrants will expire on October 26, 2026, and the other half will expire on April 24, 2030. The placement agent warrants were immediately exercisable with an exercise price of $4.05 per share and expire on April 24, 2030. As of March 31, 2026, there have been 1,170,564 warrants exercised at an exercise price of $1.90 per share. On March 31, 2025, in connection with the 2025 Registered Direct Offering and 2025 March Warrant Offering, the Company issued equity classified warrants to purchase 652,439 shares to certain institutional investors and the placement agent. The warrants were issued in connection with the 2025 Registered Direct Offering and 2025 March Warrant Offering. The 630,376 investor warrants have an exercise price of $3.24 per share. One half of the warrants will expire on October 1, 2026, and the other half will expire on March 31, 2030. The 22,063 placement agent warrants have an exercise price of $4.3625 per share and expire on March 30, 2030. In connection with the 2025 April Warrant Inducement, 630,376 investor warrants were exercised. As of March 31, 2026, the placement agent warrants remain outstanding. On August 29, 2024, in connection with the 2024 Registered Direct Offering and 2024 August Warrant Inducement, the Company issued equity classified warrants to purchase 1,964,666 shares to certain institutional investors and the placement agent. The warrants were issued in connection with the 2024 Registered Direct Offering and the 2024 August Warrant Inducement. The 1,914,466 investor warrants have an exercise price of $7.05 per share. One half of the warrants expire on May 21, 2026, and the other half expire on November 21, 2029. The 50,200 placement agent warrants have an exercise price of $8.8125 per share and expire on August 28, 2029. As of March 31, 2026, there have been 100,121 warrants exercised. On February 12, 2024, the Company issued 497,047 equity classified warrants (Series A Warrants, Series B Warrants and placement agent warrants) in connection with the Inducement Letter for the 2024 February warrant inducement and related warrant restructuring. The Series A and Series B Warrants were immediately exercisable with an exercise price of $15.90 per share and expire on August 14, 2025 and May 12, 2028, respectively. The placement agent warrants were immediately exercisable with an exercise price of $24.56 per share and expire on May 12, 2028. In connection with the 2024 August Warrant Inducement, 480,236 Series A and Series B warrants were exercised. As of March 31, 2026, the placement agent warrants remain outstanding. On October 25, 2023, and November 28, 2023, the Company issued warrants to purchase 83,714 shares and 167,428 shares, respectively. The warrants were immediately exercisable with an exercise price of $23.51 per share and expire on October 25, 2028, and November 28, 2028, respectively. In January 2024, a holder of the warrants exercised 88,261 warrants at an exercise price of $23.51 per share. In August 2024, an inducement letter was issued to a holder of 133,334 warrants to reduce the exercise price from $23.51 to $7.05 per share. At various dates through September 30, 2023, the Company assumed or issued a total of 73,474 warrants to provide holders the right to purchase common stock at exercise prices ranging from $54.60 - $41,400 per share. A total of 2,778 of the outstanding warrants are public warrants which trade on the OTC Pink Open Market under the ticker symbol ENSCW. A total of 2,901 outstanding warrants (issued in connection with the 2021 and 2022 Notes) are liability-classified due to certain cash settlement features embedded within the warrant agreements. The remaining warrants are equity classified. The warrants expire beginning June 30, 2026, through August 7, 2028.