| Schedule of Warrant Outstanding and Warrant Activity |
Schedule
of Warrant Outstanding and Warrant Activity
| Description | |
Classification | |
Exercise Price | | |
Expiration Date | |
Balance December 31, 2025 | | |
Warrants Issued | | |
Warrants Exercised | | |
Warrants Expired | | |
Adjustments (ii) | | |
Balance March 31, 2026 | |
| Secured Promissory Note Warrants | |
Equity (i) | |
$ | 0.01 | | |
3/30/2031 | |
| 1,601,052 | | |
| - | | |
| - | | |
| - | | |
| 196,525 | | |
| 1,797,577 | |
| Default Warrants | |
Equity (i) | |
$ | 0.01 | | |
3/30/2031 | |
| 800,526 | | |
| - | | |
| - | | |
| - | | |
| 69,638 | | |
| 870,164 | |
| Service Provider Warrants | |
Liability | |
$ | 0.01 | | |
12/31/2026 | |
| - | | |
| 4,794,604 | | |
| - | | |
| - | | |
| - | | |
| 4,794,604 | |
| Placement Agent Warrants | |
Liability | |
$ | 5.38 | | |
1/12/2031 | |
| - | | |
| 36,822 | | |
| - | | |
| - | | |
| - | | |
| 36,822 | |
| Unsecured Promissory Note Warrants | |
Equity | |
$ | 0.00 | | |
8/24/2034 | |
| 99,072 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 99,072 | |
| | |
| |
| | | |
| |
| 2,500,650 | | |
| 4,831,426 | | |
| - | | |
| - | | |
| 266,163 | | |
| 7,598,239 | |
| (i) | | The secured promissory
note warrants and default warrants were reclassified to equity upon the conversion to the convertible promissory notes in connection
with the Series A-I Closing in January and February 2026. |
| (ii) | | Reflects changes
in estimated shares issuable due to changes in the Company’s fully diluted capitalization determined upon the Series A financing.
The Secured Promissory Note Warrants and the Default Warrants entitled holders to a specified percentage of fully diluted equity rather
than a fixed number of shares prior to their reclassification to equity. |
|
Schedule
of Warrant Outstanding and Warrant Activity
| Description | |
Classification | | |
Exercise Price | | |
Expiration Date | |
Balance December 31, 2024 | | |
Warrants Issued | | |
Warrants Exercised | | |
Warrants Expired | | |
Adjustments (i) | | |
Balance December 31, 2025 | |
| Secured Promissory Note Warrants | |
| Liability | | |
$ | 0.01 | | |
11/24/2033 | |
| 1,411,508 | | |
| - | | |
| - | | |
| - | | |
| 89,478 | | |
| 1,500,986 | |
| Secured Promissory Note Warrants | |
| Liability | | |
$ | 0.01 | | |
12/5/2033 | |
| 94,101 | | |
| - | | |
| - | | |
| - | | |
| 5,965 | | |
| 100,066 | |
| Default Warrants | |
| Liability | | |
$ | 0.01 | | |
11/24/2033 | |
| - | | |
| 600,395 | | |
| - | | |
| - | | |
| - | | |
| 600,395 | |
| Default Warrants | |
| Liability | | |
$ | 0.01 | | |
12/5/2033 | |
| - | | |
| 200,131 | | |
| - | | |
| - | | |
| - | | |
| 200,131 | |
| Pre-funded warrants | |
| Equity | | |
$ | 0.01 | | |
(ii) | |
| - | | |
| 694,673 | | |
| (694,673 | ) | |
| - | | |
| - | | |
| - | |
| Unsecured Promissory Note Warrants | |
| Equity | | |
$ | 0.00 | | |
8/24/2034 | |
| 99,072 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 99,072 | |
| | |
| | | |
| | | |
| |
| 1,604,681 | | |
| 1,495,199 | | |
| (694,673 | ) | |
| - | | |
| 95,443 | | |
| 2,500,650 | |
| (i) | Reflects changes
in estimated shares issuable due to changes in the Company’s fully diluted capitalization from December 31, 2024 to December 31,
2025. The Secured Promissory Note Warrants entitle holders to a specified percentage of fully diluted equity rather than a fixed number
of shares. |
| (ii) | Pre-funded warrants
were exercisable for two business days from date of issuance and were immediately exercised upon issuance. |
|