Note 13 – Subsequent Events

Equity Grants

On July 24, 2026, the Compensation Committee granted 5,000,000 of unvested five-year warrants to the Company’s Chief Executive Officer. The warrants have exercise price at $25 per share. The closing price of the Company’s common stock on the grant date was $19.36. The warrants will vest in increments of 1,000,000 shares upon any 20-day average closing price of the Company’s common stock at each of the following tranches: $25, $40, $60, $80 and $100. The Company will seek to obtain stockholder approval as required by the NYSE American.

On July 24, 2026 the Compensation Committee granted a total of 1,275,000 five-year stock options, exercisable at $19.36 per share, the closing price of the Company’s stock on the grant date, to the Company’s three other executive officers in increments of 375,000, 375,000 and 525,000 stock options, respectively. The stock options vest quarterly over a three-year period subject to each person, as applicable, remaining to be employed by the Company.

On July 24, 2026, the Company granted approximately 1.6 million five-year stock options, exercisable at $19.36 per share, the closing price of the Company’s stock on the grant date, to specific employees. The options vest over four years of continued service with the Company.

Leases

On June 24, 2026, the Company entered into a three-year operating lease agreement for an additional 14,000 square feet of space in Orlando, FL. This space will be used for battery production. The lease commenced on August 1, 2026 and expires in December 2028.

On July 23, 2026, the Company entered into a lease amendment related to its corporate headquarters in Orlando, FL. The amendment increases the existing space from 9,125 square feet to a total of 19,389. In addition, the original lease term was extended from March 31, 2029 to December 31, 2031. The Company anticipates the additional space to commence on September 1, 2026.