NOTE 9 – SUBSEQUENT EVENTS

The Company has evaluated subsequent events through the date the financial statements were issued. Based on this evaluation, except for the matters disclosed in Notes 1, 3, 4, and 5 and as discussed below, there were no material subsequent events requiring recognition or additional disclosure in the accompanying financial statements.

On April 21, 2026, the Company issued 6,579 shares of its common stock to satisfy certain outstanding legal fees payable to the Company’s SEC counsel. The shares were issued in lieu of cash payment for services previously rendered.

On April 24, 2026, the Company appointed Joseph Tucker Ph.D. to its Board of Directors as an independent director. Mr. Tucker was granted a warrant to purchase 33,784 shares of the Company’s common stock in connection with his appointment to the Board. Mr. Tucker is entitled to receive compensation of $6,000 per quarter for service as a member of the Board of Directors. Mr. Tucker also serves as a member of the Compensation Committee and the Finance, Risk, and Audit Committee, and was appointed Chair of the Governance and Nominating Committee effective May 12, 2026.

Clinical Services Agreements

In May 2025, the Company received a proposed statement of work from Pace Life Sciences (“Pace”) related to the cGMP clinical manufacturing of the Company’s Nu-3 topical gel product candidate.

On April 23, 2026, the Company authorized and committed to proceed with the full clinical manufacturing program with Pace in support of the Company’s planned clinical development activities. Pursuant to the statement of work, Pace will provide cGMP manufacturing services for Nu-3 topical gel-filled applicators, including the manufacture of applicators containing 10%, 5%, and 2% Nu-3 topical gel formulations applicators, GMP release testing, clinical distribution activities, and an 18-month International Council for Harmonisation (“ICH”) stability program.

The total estimated project cost under the statement of work is approximately $197,125, exclusive of certain pass-through and other project-related expenses. The agreement provides for milestone-based invoicing during manufacturing, testing and stability phases of the project. In addition, the Company is responsible for pass-through costs, including materials, supplies, shipping, outsourced testing, stability storage and related project expenses, which are billed at cost plus 15%. Pace may also bill additional out-of-scope services at contractual hourly rates. In the event of project cancellation prior to completion, the Company is responsible for payment for all completed work and work in process through the termination date. Payment terms under the agreement are net 30 days.

The Company expects costs incurred under the agreement to be recorded as research and development expense as services are performed.

On April 21, 2026, the Company entered into a Clinical Research Organization Agreement with Professional Education and Research Institute, LLC (“PERI”) in connection with the Company’s planned Phase 2a clinical trial for its iDFU product candidate. Pursuant to the agreement, PERI will provide clinical trial management and operational support services, including study start-up activities, site feasibility and qualification, site contracting and budgeting, institutional review board coordination, project management, clinical monitoring, site management, electronic data capture oversight, data management, database lock and archive activities, and related clinical and data management services.

The total estimated cost of services under the agreement is approximately $507,292, which will be paid based on the achievement of specified project milestones and performance of services. The agreement may be terminated by either party under customary termination provisions. The Company expenses costs associated with research and development activities as incurred.