Note 9. Warrants

The following table represents warrant activity for the six months ended June 30, 2026:

 Schedule of Warrant Activity 

On May 30, 2023, in connection with the issuance of the $1,200,000 promissory note to Lind pursuant to a securities purchase agreement, the Company issued Lind a 5 five-year warrant exercisable six months from the date of issuance to purchase 8,701 shares of common stock at an exercise price of $122.50 per share. The warrant provides for cashless exercise and full ratchet anti-dilution provisions. The fair value of the warrants of $381,538 was recorded as a discount to the 2023 Lind Note and classified as liabilities.

On July 27, 2023, in connection with the issuance of the $300,000 promissory note to Lind pursuant to the Purchase Agreement Amendment, the Company issued Lind a 5 five-year warrant exercisable six months from the date of issuance to purchase 3,505 shares of common stock at an exercise price of $67.00 per share. The warrant provides for cashless exercise and full ratchet anti-dilution provisions. The fair value of the warrants of $72,208 was recorded as a discount to the 2023 Purchase Agreement Amendment and classified as a liability.

On September 16, 2025, in connection with the issuance of the $47,059 promissory note to a third-party investor, the Company issued a 5 five-year warrant exercisable from the date of issuance to purchase 4,705,882, shares of common stock at an exercise price of $0.01 per share. The warrant was determined to be equity-classified under applicable accounting guidance. No value was allocated to the warrant at issuance, as its fair value was determined to be immaterial.

On September 18, 2025, in connection with the issuance of the $47,059 promissory note to a third-party investor, the Company issued a 5 five-year warrant exercisable from the date of issuance to purchase 4,705,882, shares of common stock at an exercise price of $0.01 per share. The warrant was determined to be equity-classified under applicable accounting guidance. No value was allocated to the warrant at issuance, as its fair value was determined to be immaterial.

On November 13, 2025, in connection with the issuance of the $40,000 promissory note to a third-party investor, the Company issued a 5 five-year warrant exercisable from the date of issuance to purchase 4,000,000, shares of common stock at an exercise price of $0.01 per share. The warrant was determined to be equity-classified under applicable accounting guidance. No value was allocated to the warrant at issuance, as its fair value was determined to be immaterial.

On March 10, 2026, in connection with the issuance of the $57,500 promissory note to a third-party investor, the Company issued a 5 five-year warrant exercisable from the date of issuance to purchase 57,500,000, shares of common stock at an exercise price of $0.001 per share. The warrant was determined to be equity-classified under applicable accounting guidance. No value was allocated to the warrant at issuance, as its fair value was determined to be immaterial.