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2. Summary of significant accounting policies <div> Basis of presentation and consolidation The accompanying unaudited condensed consolidated financial statements included herein have been prepared in conformity with generally accepted accounting principles in the United States ("GAAP") and under the rules and regulations of the United States Securities and Exchange Commission ("SEC") for interim reporting. The accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, that are necessary to present fairly the Company's financial position, results of operations, and cash flows. The condensed consolidated results of operations are not necessarily indicative of the results that may occur for the full fiscal year. Certain information and footnote disclosures of the Company normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted under the SEC's rules and regulations. These condensed consolidated financial statements should be read in conjunction with the audited financial statements and accompanying notes thereto for the year ended December 31, 2025, included in the Company's Annual Report on Form 10-K, as amended, originally filed with the SEC on March 25, 2026 (the "2025 Annual Report"). These condensed consolidated financial statements include the financial statements of the Company and its subsidiaries, SkinJect, Inc., Medicus Pharma Inc., Antev Limited ("Antev") and MDCX Holdings, LLC. All intercompany balances and transactions have been eliminated on consolidation. Non-controlling interest in the consolidated financial statements represents the portion of Antev not 100% owned by the Company. The functional currency of the Company and its three wholly-owned subsidiaries, SkinJect, Inc., Medicus Pharma Inc. and MDCX Holdings, LLC. is the United States dollar (USD). The functional currency of the Company's other subsidiary, Antev is Pound Sterling (GBP). </div> Foreign operations remeasurement and translation Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions, and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates, are generally recognized in the condensed consolidated statements of operations and comprehensive loss. The results and financial position of foreign operation which has functional currency different from presentation currency are translated into the presentation currency as follows: assets and liabilities are translated at the closing rate at the date of that statement of financial position, income and expenses are translated at average exchange rates, and all resulting translated exchange differences are recognized in a separate component of other comprehensive loss within the condensed consolidated statement of changes in shareholders equity. <div> <div> Use of estimates </div> The preparation of these condensed consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements, and the reported amounts of income and expenses during the reporting period. Such estimates include the valuation of stock-based awards, the incremental borrowing rate used to discount the Company's operating lease liabilities, fair value of the Company's debentures and secured promissory notes and warrants, and valuation allowance on deferred tax assets, all of which are management's best estimates. Estimates are based on historical experience, where applicable, and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. By their nature, these estimates are subject to measurement uncertainty and the effect on the financial statements of changes in estimates in future years could be significant. Management believes that the estimates utilized in preparing the financial statements are reasonable, however, actual results could differ from those estimates. </div> <div></div> <div> <div> Operating segments </div> Operating segments are identified as components of an entity about which separate discrete financial information is available for evaluation by the chief operating decision-maker ("CODM") in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business in one operating segment. </div> Recently issued accounting pronouncements In November 2024, the FASB issued ASU 2024-03 "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures" to provide greater transparency about the components of specific expense categories in the income statements. The effective dates of ASU 2024-03 were subsequently clarified by ASU 2025-01. ASU 2025-01 is effective for our annual period beginning January 1, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting the amendment on the Company's financial statements. There were no other significant updates to the recently issued accounting standards which may be applicable to the Company. Although there are several other new accounting pronouncements issued or proposed by the FASB, the Company does not believe any of those accounting pronouncements have had or will have a material impact on its financial position or operating results.

<div> <div> Use of estimates </div> The preparation of these condensed consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements, and the reported amounts of income and expenses during the reporting period. Such estimates include the valuation of stock-based awards, the incremental borrowing rate used to discount the Company's operating lease liabilities, fair value of the Company's debentures and secured promissory notes and warrants, and valuation allowance on deferred tax assets, all of which are management's best estimates. Estimates are based on historical experience, where applicable, and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. By their nature, these estimates are subject to measurement uncertainty and the effect on the financial statements of changes in estimates in future years could be significant. Management believes that the estimates utilized in preparing the financial statements are reasonable, however, actual results could differ from those estimates. </div>

<table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;padding-left:5pt;padding-right:5pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;border-top:0.75pt solid #000000">June 30, 2026</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;border-top:0.75pt solid #000000">December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;border-top:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Insurance</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">109,405</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">345,084</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Contract research organizations</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">390,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">410,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Professional services</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">330,400</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">300,033</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Prepaid services</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">977,656</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">31,004</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">1,807,461</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#e6efff">1,086,121</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table>

109405

345084

390000 410000 330400 300033 977656 31004

1807461

1086121

<table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;padding-left:5pt;padding-right:5pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;border-top:0.75pt solid #000000">June 30, 2026</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;border-top:0.75pt solid #000000">December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;border-top:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Accrued legal fees</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">110,976</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">352,864</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Accrued compensation and benefits</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">195,082</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">300,181</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Accrued other</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">1,949</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">342,245</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%">308,007</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%">995,290</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table>

110976

352864

195082

300181

1949

342245

308007

995290

<table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Six Months Ended June 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Year Ended December 31,2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Operating lease</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Operating lease right-of-use assets</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">117,184</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">170,733</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Operating lease liabilities - current</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">137,330</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">145,456</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Operating lease liabilities - non-current</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">60,139</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table>

117184

170733

137330

145456

60139

<table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Six months ended June 30,</td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Lease cost</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Operating lease cost</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">61,889</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">61,889</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Other information</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Operating cash flows used in operating leases</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(76,952</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(70,080</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Remaining lease term (in years)</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1.00</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1.92</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Discount rate</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">10%</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">10%</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table>

61889

76952

70080

P1Y

P1Y11M1D

0.10

<div> <table cellpadding="0" cellspacing="0" style="width:50%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">2026</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">74,348</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">2027</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">74,348</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Total future minimum lease payments, undiscounted</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">148,696</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Present value discount</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right">(11,366</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Total lease liability</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%;background-color:#e6efff">137,330</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000"> </td> </tr> </table> </div>

74348

148696

11366

137330

4172000

1490000

2.8

2.8 P5Y

483020

3.4 2.63 133800 1490000

374640

<div> <table cellpadding="0" cellspacing="0" style="width:50%;border-collapse:collapse;font-size:10pt;border-color:#000000;margin-left:auto;margin-right:auto"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;padding-left:5pt;padding-right:5pt"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Issue Date March 10, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Valuation date share price</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">3.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Exercise price</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">2.80</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Dividend yield</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Risk-free interest rate</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">3.98%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Expected warrant life</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5.00 years</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Expected volatility</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">97.81%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> </table> </div>

3.4

2.8

0.0398

97.81

<div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;padding-left:5pt;padding-right:5pt"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">Number of common share warrants outstanding</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">Weighted average exercise price $</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">Weighted average remaining life (years)</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Outstanding as at December 31, 2025</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">7,281,795</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">2.70</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">4.90</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Warrants granted</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;padding-left:5pt;padding-right:5pt">Warrants exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Total Warrants outstanding as at June 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">7,281,795</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">2.70</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">4.41</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div>

7281795

2.7 P4Y10M24D 0 0 0 0

7281795

2.7 P4Y4M28D

<div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:20%;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:center;padding-left:5pt;padding-right:5pt;white-space:nowrap"> </td> <td colspan="4" style="padding-right:5pt;padding-left:5pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:center;width:80%;white-space:nowrap">Warrants outstanding</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;width:20%;padding-left:5pt;padding-right:5pt;border-bottom:0.75pt solid #000000;white-space:nowrap;vertical-align:top"> </td> <td style="margin-top:0pt;margin-bottom:0pt;width:20%;padding-left:5pt;padding-right:5pt;border-bottom:0.75pt solid #000000;white-space:nowrap;vertical-align:top">Expiry date</td> <td style="width:20%;padding-right:5pt;padding-left:5pt;vertical-align:top;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Exercise price</td> <td style="width:20%;padding-right:5pt;padding-left:5pt;vertical-align:top;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number outstanding</td> <td style="width:20%;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;padding-left:5pt;padding-right:5pt;white-space:nowrap">Number exercisable </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;width:20%;padding-left:5pt;padding-right:5pt;background-color:#e6efff">Warrants issued as part of the IPO</td> <td style="margin-top:0pt;margin-bottom:0pt;width:20%;padding-left:5pt;padding-right:5pt;background-color:#e6efff">November 15, 2029</td> <td style="width:20%;padding-right:5pt;padding-left:5pt;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:right">$ 4.64</td> <td style="width:20%;padding-right:5pt;padding-left:5pt;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:right">985,595</td> <td style="width:20%;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:right;padding-left:5pt;padding-right:5pt">985,595</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;width:20%;padding-left:5pt;padding-right:5pt">Regulation A Warrants</td> <td style="margin-top:0pt;margin-bottom:0pt;width:20%;padding-left:5pt;padding-right:5pt">March 10, 2030</td> <td style="width:20%;padding-right:5pt;padding-left:5pt;vertical-align:top;text-align:right">$ 2.80</td> <td style="width:20%;padding-right:5pt;padding-left:5pt;vertical-align:top;text-align:right">16,200</td> <td style="width:20%;vertical-align:top;text-align:right;padding-left:5pt;padding-right:5pt">16,200</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;width:20%;padding-left:5pt;padding-right:5pt;background-color:#e6efff">June 30, 2030 Warrants</td> <td style="margin-top:0pt;margin-bottom:0pt;width:20%;padding-left:5pt;padding-right:5pt;background-color:#e6efff">June 2, 2030</td> <td style="width:20%;padding-right:5pt;padding-left:5pt;vertical-align:top;background-color:#e6efff;text-align:right">$ 3.10</td> <td style="width:20%;padding-right:5pt;padding-left:5pt;vertical-align:top;background-color:#e6efff;text-align:right">2,260,000</td> <td style="width:20%;vertical-align:top;background-color:#e6efff;text-align:right;padding-left:5pt;padding-right:5pt">2,260,000</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;width:20%;padding-left:5pt;padding-right:5pt">Series C and D Warrants</td> <td style="margin-top:0pt;margin-bottom:0pt;width:20%;padding-left:5pt;padding-right:5pt">June 5, 2031</td> <td style="width:20%;padding-right:5pt;padding-left:5pt;vertical-align:top;text-align:right">$ 2.00</td> <td style="width:20%;padding-right:5pt;padding-left:5pt;vertical-align:top;text-align:right">4,020,000</td> <td style="width:20%;vertical-align:top;text-align:right;padding-left:5pt;padding-right:5pt">4,020,000</td> </tr> </table> </div>

November 15, 2029

4.64

985595

985595 March 10, 2030

2.8

16200

16200 June 2, 2030

3.1

2260000

2260000 June 5, 2031

4020000

15000000

0.97

5336780

4229823

4102740

3223980 2489206 0.03

28248981

12868181

<div> 6. Stock-based compensation At June 30, 2026, the Company had in place a stock option plan for employee, non-employee directors, and consultants of the Company (the "Plan"). The Plan provides both for the direct award or sale of shares and for the grant of options to purchase shares. Under the plan, the total number of shares available for options cannot exceed 10% of the Company's issued and outstanding common shares at the time of any grant. The Company is authorized to issue options to employees, non-employee directors and consultants under the plan. On March 30, 2026, the Company issued 975,000 stock options to directors, officers, and employees of the Company. The options are exercisable at $0.50 per share, expire five years from the grant date, and vest quarterly over a one-year period. On June 3, 2026, the Company issued an additional 2,075,000 stock options to directors, officers, and employees of the Company. The options are exercisable at $0.36 per share, expire five years from the grant date, and vest quarterly over a one-year period. During the three months ended June 30, 2026, the Company accelerated the vesting of all options outstanding except the 2,075,000 options that were granted on June 3, 2026. The following table summarizes option transactions for the Plan: <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number of options</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Weighted average exercise price $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Weighted average remaining contractual life (years)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Aggregate intrinsic value $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr style="background-color:rgb(230, 239, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(219, 229, 241)">Outstanding at December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">1,185,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">1.47</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">4.18</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">1.18</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(255, 255, 255)">Granted</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">100,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">2.60</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">5.00</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="background-color:rgb(230, 239, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(219, 229, 241)">Outstanding at June 30, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">1,285,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">1.56</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">3.79</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">1.43</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(255, 255, 255)">Exercisable at June 30, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">980,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">1.25</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">4.01</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">1.74</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="background-color:rgb(230, 239, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(219, 229, 241)">Unvested at June 30, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">305,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">2.56</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">4.44</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="background-color:rgb(230, 239, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(219, 229, 241)">Outstanding at December 31, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">2,505,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">2.05</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">2.75</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:20pt;padding-right:5pt;background-color:rgb(255, 255, 255)">Granted</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:rgb(255, 255, 255)">3,050,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:rgb(255, 255, 255)">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:rgb(255, 255, 255)">4.87</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:rgb(255, 255, 255)">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="background-color:rgb(230, 239, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:20pt;padding-right:5pt;background-color:rgb(219, 229, 241)">Forfeited</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:rgb(219, 229, 241)">(45,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(219, 229, 241)">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:rgb(219, 229, 241)">1.79</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:rgb(219, 229, 241)">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:rgb(219, 229, 241)">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(255, 255, 255)">Outstanding at June 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">5,510,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">1.14</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">4.32</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="background-color:rgb(230, 239, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(219, 229, 241)">Exercisable at June 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">3,435,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">1.62</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">3.94</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(255, 255, 255)">Unvested at June 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">2,075,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">0.36</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">4.93</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> </tr> </table> <div></div> As of June 30, 2026, there were $419,075 of unrecognized stock-based compensation cost related to share options outstanding, which is expected to be recognized over a weighted-average period of 0.93 years. The weighted average grant date fair value of awards for options granted during the six months ended June 30, 2026, was $0.24. The fair value of options granted was estimated using the Black-Scholes option pricing model, resulting in the following weighted average assumptions for the options granted: <div> <table cellpadding="0" cellspacing="0" style="width:90%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">June 30, 2026 Weighted-average</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Exercise price</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Share price</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">0.37</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Dividend</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Risk-free interest rate</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">4.13%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Estimated life (in years)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Expected volatility</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">76.33%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> </table> </div> For the three and six months ended June 30, 2026, stock-based compensation expense was $1,405,826 and $2,005,133, respectively. For the three and six months ended June 30, 2025, stock-based compensation expense was $117,448 and $585,442, respectively. Stock-based compensation expense has been reported in the Company’s condensed consolidated statements of operations and comprehensive loss within the line items ‘general and administrative’ expenses. </div>

0.10

975000

0.5

P5Y

P1Y

2075000

0.36

P5Y

P1Y

2075000

<table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number of options</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Weighted average exercise price $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Weighted average remaining contractual life (years)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Aggregate intrinsic value $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr style="background-color:rgb(230, 239, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(219, 229, 241)">Outstanding at December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">1,185,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">1.47</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">4.18</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">1.18</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(255, 255, 255)">Granted</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">100,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">2.60</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">5.00</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="background-color:rgb(230, 239, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(219, 229, 241)">Outstanding at June 30, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">1,285,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">1.56</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">3.79</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">1.43</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(255, 255, 255)">Exercisable at June 30, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">980,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">1.25</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">4.01</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">1.74</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="background-color:rgb(230, 239, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(219, 229, 241)">Unvested at June 30, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">305,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">2.56</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">4.44</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="background-color:rgb(230, 239, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(219, 229, 241)">Outstanding at December 31, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">2,505,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">2.05</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">2.75</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:20pt;padding-right:5pt;background-color:rgb(255, 255, 255)">Granted</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:rgb(255, 255, 255)">3,050,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:rgb(255, 255, 255)">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:rgb(255, 255, 255)">4.87</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:rgb(255, 255, 255)">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="background-color:rgb(230, 239, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:20pt;padding-right:5pt;background-color:rgb(219, 229, 241)">Forfeited</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:rgb(219, 229, 241)">(45,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(219, 229, 241)">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:rgb(219, 229, 241)">1.79</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:rgb(219, 229, 241)">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:rgb(219, 229, 241)">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(255, 255, 255)">Outstanding at June 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">5,510,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">1.14</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">4.32</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="background-color:rgb(230, 239, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(219, 229, 241)">Exercisable at June 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">3,435,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">1.62</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">3.94</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(219, 229, 241)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(219, 229, 241)">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(219, 229, 241)"> </td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:rgb(255, 255, 255)">Unvested at June 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">2,075,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">0.36</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">4.93</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:1%;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;width:10%;background-color:rgb(255, 255, 255)">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;width:2%;background-color:rgb(255, 255, 255)"> </td> </tr> </table>

1185000

1.47

P4Y2M4D

1.18

100000

2.6

P5Y

1285000

1.56

P3Y9M14D

1.43

980000

1.25

P4Y3D

1.74

305000

2.56

P4Y5M8D

2505000

2.05

P2Y9M

3050000

0.4

P4Y10M13D

45000

1.79

5510000

1.14

P4Y3M25D

3435000

1.62

P3Y11M8D

2075000

0.36

P4Y11M4D

419075

P0Y11M4D

0.24

<div> <table cellpadding="0" cellspacing="0" style="width:90%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">June 30, 2026 Weighted-average</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Exercise price</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.40</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Share price</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">0.37</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Dividend</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Risk-free interest rate</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">4.13%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Estimated life (in years)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Expected volatility</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">76.33%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> </table> </div>

0.4

0.37

0.0413

P5Y

0.7633

1405826

2005133

117448

585442

125000

100000

750000

600000

455486 64046 898983 104911

161846

121273

8. Fair value measurements The accounting guidance for fair value establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. 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 market participants. 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 liability. As a basis for considering such assumptions, the accounting guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than the quoted prices in active markets that are observable either directly or indirectly; and Level 3: Unobservable inputs in which there is little or no market data, or which require the reporting entity to develop its own assumptions. The Company's cash and cash equivalents and restricted cash are classified as Level 1. The fair value of the Company's cash and cash equivalents is determined based on market pricing that is both objective and publicly available. As of June 30, 2026 and December 31, 2025, the fair value of the Company's cash and cash equivalents and restricted cash were $25,191,540 and $8,705,218, respectively. As of June 30, 2026 and December 31, 2025, the Company's cash equivalents are invested in money market funds. <div></div> <div style="margin-top:0pt;margin-bottom:0pt"> <div style="margin-top:0pt;margin-bottom:0pt"> <table border="0" cellpadding="0" cellspacing="0" style="font-size:10pt;width:100%;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td colspan="10" style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> June 30, 2026 </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt">Level 1</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt">Level 2</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt">Level 3</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt">Total</td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Current assets:</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="padding-right:5.4pt;padding-left:27pt;vertical-align:bottom;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Money market funds</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">13,573,269</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">-</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">-</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">13,573,269</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:52.2pt;vertical-align:bottom;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Total assets measured at fair value</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">13,573,269</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">-</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">-</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">13,573,269</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td colspan="10" style="vertical-align:bottom;text-align:right;width:10%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;width:1%;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td colspan="10" style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">December 31, 2025</td> <td style="vertical-align:bottom;width:2%;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;white-space:nowrap;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Level 1</td> <td style="vertical-align:bottom;width:2%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Level 2</td> <td style="vertical-align:bottom;width:2%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Level 3</td> <td style="vertical-align:bottom;width:2%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Total</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:2%;white-space:nowrap;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Current assets:</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10%;text-align:right;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10%;text-align:right;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10%;text-align:right;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10%;text-align:right;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;background-color:rgb(230, 239, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="padding-right:5.4pt;padding-left:27pt;vertical-align:bottom;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Cash and cash equivalents</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">8,705,218</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">-</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">-</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">8,705,218</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:52.2pt;vertical-align:bottom;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Total assets measured at fair value</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">8,705,218</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">-</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">-</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">8,705,218</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> </tr> </table> </div> </div> The Company did not reclassify any investments between levels in the fair value hierarchy during the periods presented. The carrying value of the Company's secured promissory notes described in Note 12 below approximates the fair value since the financial instrument is short-term with a maturity date of November 27, 2027. As of June 30, 2026 and December 31, 2025, the carrying amounts of the Company's other financial instruments, which include cash and cash equivalents and restricted cash, accounts payable and accrued expenses approximate fair values because of their short-term maturities.

25191540

8705218

<div style="margin-top:0pt;margin-bottom:0pt"> <table border="0" cellpadding="0" cellspacing="0" style="font-size:10pt;width:100%;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td colspan="10" style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> June 30, 2026 </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt">Level 1</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt">Level 2</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt">Level 3</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt">Total</td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Current assets:</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(230, 239, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="padding-right:5.4pt;padding-left:27pt;vertical-align:bottom;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Money market funds</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">13,573,269</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">-</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">-</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">13,573,269</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:52.2pt;vertical-align:bottom;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Total assets measured at fair value</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">13,573,269</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">-</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">-</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">13,573,269</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td colspan="10" style="vertical-align:bottom;text-align:right;width:10%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;width:1%;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td colspan="10" style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">December 31, 2025</td> <td style="vertical-align:bottom;width:2%;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;white-space:nowrap;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Level 1</td> <td style="vertical-align:bottom;width:2%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Level 2</td> <td style="vertical-align:bottom;width:2%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Level 3</td> <td style="vertical-align:bottom;width:2%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;white-space:nowrap;text-align:center;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Total</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:2%;white-space:nowrap;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Current assets:</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10%;text-align:right;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10%;text-align:right;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10%;text-align:right;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:10%;text-align:right;background-color:rgb(230, 239, 255)"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;background-color:rgb(230, 239, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="padding-right:5.4pt;padding-left:27pt;vertical-align:bottom;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Cash and cash equivalents</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">8,705,218</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">-</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">-</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">8,705,218</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:52.2pt;vertical-align:bottom;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Total assets measured at fair value</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">8,705,218</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">-</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">-</td> <td style="vertical-align:bottom;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:10%;text-align:right;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">8,705,218</td> <td style="vertical-align:bottom;border-bottom:2.25pt double rgb(0, 0, 0);width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> </tr> </table> </div>

13573269

8705218

<div> <div> <div> 9. Commitments and contingencies Commitments <div> As part of the acquisition of Antev, the Company may be required to make future payments contingent on the achievement of specified milestones. These potential payments represent a commitment and may result in future cash outflows. As these milestones conditions are not considered probable, the Company has not recognized liability related to the contingent consideration. Pursuant to the terms of the Antev acquisition, the Company acquired 98.60% ownership in Antev, including all the assets and its In-Process Research and Development (IPR&D) – Teverelix. There was additional contingent consideration based on the following development milestones of the IPR&D: <table border="0" style="border-collapse:collapse" width="100%"> <tr style="background-color:rgb(230, 239, 255)"> <td style="vertical-align:top;padding-left:3pt;padding-right:3pt;width:33%;background-color:rgb(230, 239, 255)">Phases</td> <td style="padding-left:3pt;padding-right:3pt;width:32%;background-color:rgb(230, 239, 255)">Contingent Consideration agreed for Antev shares acquired through issue of shares</td> <td style="padding-left:3pt;padding-right:3pt;width:30%;background-color:rgb(230, 239, 255)">Contingent Consideration agreed for Antev shares acquired by cash payment</td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="padding-left:3pt;padding-right:3pt;width:33%;background-color:rgb(255, 255, 255)">(i) Advanced Prostate Cancer - Phase 2 success or registration</td> <td style="padding-left:3pt;padding-right:3pt;width:32%;background-color:rgb(255, 255, 255)">$2.00 per common share issued</td> <td style="padding-left:3pt;padding-right:3pt;width:30%;background-color:rgb(255, 255, 255)">$1.47 per Antev share (pro rata interest in $5,333,200)</td> </tr> <tr style="background-color:rgb(230, 239, 255)"> <td style="padding-left:3pt;padding-right:3pt;width:33%;background-color:rgb(230, 239, 255)">(ii)Acute Urinary Retention Prevention - Phase 2 success or registration</td> <td style="padding-left:3pt;padding-right:3pt;width:32%;background-color:rgb(230, 239, 255)">$7.50 per common share issued</td> <td style="padding-left:3pt;padding-right:3pt;width:30%;background-color:rgb(230, 239, 255)">$5.52 per Antev share (pro rata interest in $19,999,500)</td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="padding-left:3pt;padding-right:3pt;width:33%;background-color:rgb(255, 255, 255)">(iii) FDA NDA approval - Hormone therapy for prostate cancer</td> <td style="padding-left:3pt;padding-right:3pt;width:32%;background-color:rgb(255, 255, 255)">Up to $20,000,000 (subject to pro rata reduction)</td> <td style="padding-left:3pt;padding-right:3pt;width:30%;background-color:rgb(255, 255, 255)">$5.52 per Antev share (pro rata interest in $20,000,000</td> </tr> <tr style="background-color:rgb(230, 239, 255)"> <td style="padding-left:3pt;padding-right:3pt;width:33%;background-color:rgb(230, 239, 255)">(iv) FDA NDA approval – AUR prevention</td> <td style="padding-left:3pt;padding-right:3pt;width:32%;background-color:rgb(230, 239, 255)">Up to $20,000,000 (subject to pro rata reduction)</td> <td style="padding-left:3pt;padding-right:3pt;width:30%;background-color:rgb(230, 239, 255)">$5.52 per Antev share (pro rata interest in $20,000,000)</td> </tr> </table> </div> As of June 30, 2026, the Company had no other long-term commitments. Contingencies In the ordinary course of business, from time to time, the Company may be involved in various claims related to operations, rights, commercial, employment or other claims. Although such matters cannot be predicted with certainty, management does not consider the Company's exposure to such claims to be material to these consolidated financial statements. </div> </div> </div>

0.986

<table border="0" style="border-collapse:collapse" width="100%"> <tr style="background-color:rgb(230, 239, 255)"> <td style="vertical-align:top;padding-left:3pt;padding-right:3pt;width:33%;background-color:rgb(230, 239, 255)">Phases</td> <td style="padding-left:3pt;padding-right:3pt;width:32%;background-color:rgb(230, 239, 255)">Contingent Consideration agreed for Antev shares acquired through issue of shares</td> <td style="padding-left:3pt;padding-right:3pt;width:30%;background-color:rgb(230, 239, 255)">Contingent Consideration agreed for Antev shares acquired by cash payment</td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="padding-left:3pt;padding-right:3pt;width:33%;background-color:rgb(255, 255, 255)">(i) Advanced Prostate Cancer - Phase 2 success or registration</td> <td style="padding-left:3pt;padding-right:3pt;width:32%;background-color:rgb(255, 255, 255)">$2.00 per common share issued</td> <td style="padding-left:3pt;padding-right:3pt;width:30%;background-color:rgb(255, 255, 255)">$1.47 per Antev share (pro rata interest in $5,333,200)</td> </tr> <tr style="background-color:rgb(230, 239, 255)"> <td style="padding-left:3pt;padding-right:3pt;width:33%;background-color:rgb(230, 239, 255)">(ii)Acute Urinary Retention Prevention - Phase 2 success or registration</td> <td style="padding-left:3pt;padding-right:3pt;width:32%;background-color:rgb(230, 239, 255)">$7.50 per common share issued</td> <td style="padding-left:3pt;padding-right:3pt;width:30%;background-color:rgb(230, 239, 255)">$5.52 per Antev share (pro rata interest in $19,999,500)</td> </tr> <tr style="background-color:rgb(255, 255, 255)"> <td style="padding-left:3pt;padding-right:3pt;width:33%;background-color:rgb(255, 255, 255)">(iii) FDA NDA approval - Hormone therapy for prostate cancer</td> <td style="padding-left:3pt;padding-right:3pt;width:32%;background-color:rgb(255, 255, 255)">Up to $20,000,000 (subject to pro rata reduction)</td> <td style="padding-left:3pt;padding-right:3pt;width:30%;background-color:rgb(255, 255, 255)">$5.52 per Antev share (pro rata interest in $20,000,000</td> </tr> <tr style="background-color:rgb(230, 239, 255)"> <td style="padding-left:3pt;padding-right:3pt;width:33%;background-color:rgb(230, 239, 255)">(iv) FDA NDA approval – AUR prevention</td> <td style="padding-left:3pt;padding-right:3pt;width:32%;background-color:rgb(230, 239, 255)">Up to $20,000,000 (subject to pro rata reduction)</td> <td style="padding-left:3pt;padding-right:3pt;width:30%;background-color:rgb(230, 239, 255)">$5.52 per Antev share (pro rata interest in $20,000,000)</td> </tr> </table>

1.47

5333200

7.5

5.52

19999500

20000000

5.52

20000000

5.52

20000000

<div> <div> 10. Segment reporting Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the CODM in deciding how to allocate resources to an individual segment and in assessing performance. The Company manages the business activities on a consolidated basis and operates as one reportable segment that constitutes all of the consolidated entity, which is the business of advancing the clinical development program of the Company’s product, while opportunistically identifying, evaluating, and acquiring accretive assets, properties or businesses. The Company’s CODM is its Chief Executive Officer. The accounting policies of the segment are the same as those described in the summary of significant accounting policies. The CODM uses consolidated net loss to measure segment loss, allocate resources and assess performance. The significant segment expense categories (general and administrative and research and development) are consistent with those presented on the face of the statements of operations and comprehensive loss. Other segment items are interest (income) expenses which are consistent with those presented on the face of the statements of operations and comprehensive loss. Additionally, the CODM reviews cash forecast models to determine where the Company will invest in planned research and development activities. As the Company’s operations are comprised of a single reporting segment, the segment assets are reflected on the accompanying condensed consolidated balance sheet as Total Assets. Segment asset information is not used by the CODM to allocate resources. <div> The following table is representative of the significant expense categories regularly provided to the CODM when managing the Company's single reporting segment. A reconciliation to consolidated operating expenses as the Company’s single segment operating loss for the three and six months ended June 30, 2026 and 2025 is included in the table below: <table cellpadding="0" cellspacing="0" style="font-size:10pt;border-collapse:collapse;width:100%;border-color:#000000"> <tr> <td style="vertical-align:bottom;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;text-align:center"> </td> <td colspan="4" style="vertical-align:bottom;text-align:center;white-space:nowrap">Three Months Ended June 30,</td> <td colspan="1" style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;text-align:center;white-space:nowrap">Six Months Ended June 30,</td> <td colspan="1" style="vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap">2026</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap">2025</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap">2026</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;text-align:center;white-space:nowrap">2025</td> <td colspan="1" style="vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Research and development expenses:</td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#e6efff"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#e6efff"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom">SkinJect</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:10pt;background-color:#e6efff">Clinical, manufacturing and regulatory activities</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">1,268,747</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">1,011,362</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">2,011,288</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">2,453,931</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:10pt">Professional services and intellectual property</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">96,653</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">71,561</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">145,227</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">116,678</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Teverelix</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:10pt">Clinical, manufacturing and regulatory activities</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">2,927,793</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">-</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">3,850,023</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">-</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:10pt;background-color:#e6efff">Professional services and intellectual property</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">46,169</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">78,341</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000">Salaries and benefits</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">568,329</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">356,641</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">1,527,207</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">875,169</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Total research and development expenses</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">4,907,692</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">1,439,564</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">7,612,085</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">3,445,778</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000">Total general and administrative expenses</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">6,571,097</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">4,576,524</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">12,463,781</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">7,696,584</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Total operating expenses</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">11,478,789</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">6,016,088</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">20,075,866</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">11,142,362</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom">Other income (expense):</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Finance income</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">40,004</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">63,870</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom">Interest income (expense)</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">(205,638</td> <td style="vertical-align:bottom;width:2%;text-align:left">)</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">-</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">(523,789</td> <td style="vertical-align:bottom;width:2%;text-align:left">)</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">-</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Loss on SEPA settlements</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">(127,083</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000">Change in fair value of debentures</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">(200,000</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">(200,000</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000">)</td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;background-color:#e6efff">Total other income (expense)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000;background-color:#e6efff">(205,638</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000;background-color:#e6efff">(159,996</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000;background-color:#e6efff">(650,872</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000;background-color:#e6efff">(136,130</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff">)</td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000">Net loss for the period</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">(11,684,427</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">(6,176,084</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">(20,726,738</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">(11,278,492</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000">)</td> </tr> </table> </div> </div> </div>

<table cellpadding="0" cellspacing="0" style="font-size:10pt;border-collapse:collapse;width:100%;border-color:#000000"> <tr> <td style="vertical-align:bottom;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;text-align:center"> </td> <td colspan="4" style="vertical-align:bottom;text-align:center;white-space:nowrap">Three Months Ended June 30,</td> <td colspan="1" style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;text-align:center;white-space:nowrap">Six Months Ended June 30,</td> <td colspan="1" style="vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap">2026</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap">2025</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap">2026</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;text-align:center;white-space:nowrap">2025</td> <td colspan="1" style="vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Research and development expenses:</td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#e6efff"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#e6efff"> </td> <td colspan="1" style="vertical-align:bottom;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom">SkinJect</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:10pt;background-color:#e6efff">Clinical, manufacturing and regulatory activities</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">1,268,747</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">1,011,362</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">2,011,288</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">2,453,931</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:10pt">Professional services and intellectual property</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">96,653</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">71,561</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">145,227</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">116,678</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Teverelix</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:10pt">Clinical, manufacturing and regulatory activities</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">2,927,793</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">-</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">3,850,023</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">-</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:10pt;background-color:#e6efff">Professional services and intellectual property</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">46,169</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">78,341</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000">Salaries and benefits</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">568,329</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">356,641</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">1,527,207</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">875,169</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Total research and development expenses</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">4,907,692</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">1,439,564</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">7,612,085</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">3,445,778</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000">Total general and administrative expenses</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">6,571,097</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">4,576,524</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">12,463,781</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">7,696,584</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Total operating expenses</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">11,478,789</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">6,016,088</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">20,075,866</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">11,142,362</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom">Other income (expense):</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Finance income</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">40,004</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">63,870</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom">Interest income (expense)</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">(205,638</td> <td style="vertical-align:bottom;width:2%;text-align:left">)</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">-</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">(523,789</td> <td style="vertical-align:bottom;width:2%;text-align:left">)</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">-</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Loss on SEPA settlements</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">(127,083</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000">Change in fair value of debentures</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">(200,000</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">(200,000</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000">)</td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;background-color:#e6efff">Total other income (expense)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000;background-color:#e6efff">(205,638</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000;background-color:#e6efff">(159,996</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000;background-color:#e6efff">(650,872</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000;background-color:#e6efff">(136,130</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff">)</td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000">Net loss for the period</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">(11,684,427</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">(6,176,084</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">(20,726,738</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;border-bottom:0.75pt solid #000000">(11,278,492</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000">)</td> </tr> </table>

1268747

1011362

2011288

2453931

96653

71561

145227

116678

2927793

3850023

46169

78341

568329

356641

1527207

875169

4907692

1439564

7612085

3445778

6571097

4576524

12463781

7696584

11478789

6016088

20075866

11142362

40004

63870

205638

523789

0 0 -127083 0 0 -200000 -200000

-205638

-159996

-650872

-136130

-11684427

-6176084

-20726738

-11278492

<div> 11. Debentures and Secured Promissory Notes On September 17, 2025, the Company entered into a securities purchase agreement with Yorkville to issue a debenture with the principal amount of $8,000,000 issued at a discount of $633,707 for proceeds of approximately $7,366,293. Interest accrued on the outstanding principal amount of the debenture at an annual rate of 8%, subject to a potential increase to 18% per annum upon the occurrence of certain events of default. The debenture had a maturity date of September 17, 2026, and was to be repaid using proceeds from the SEPA; however, on May 27, 2026, the Company used part of the proceeds from the issuance of the Secured Promissory Notes (as defined herein) to repay and extinguish the outstanding balance and accrued interest owing on the debenture. The debenture was initially recorded at fair value, based on the discounted proceeds. Subsequently, the Company accounted for the debenture at amortized cost using the effective interest rate method, resulting in accretion expense of $374,712 for the six months ended June 30, 2026. The effective interest rate calculated was 32.75% as of June 30, 2026. On May 27, 2026, the Company repaid the outstanding principal balance of $2,343,778 related to the Yorkville debenture, together with accrued interest of $135,664, using proceeds received from the issuance of the Secured Promissory Notes. On May 27, 2026, the Company entered into a Note Purchase Agreement with Streeterville Capital, LLC ("Streeterville"), pursuant to which the Company issued two secured promissory notes with aggregate principal amounts of $22,864,225. The first promissory note ("Note A") was issued with a face value of $12,864,225 and a purchase price of $12,000,000, resulting in an issue discount of $864,225. The second promissory note ("Note B") was issued with a principal amount of $10,000,000. Note A bears interest at 8.75% per annum compounded daily and Note B bears interest at 5.0% per annum compounded daily. Both promissory notes mature on November 27, 2027. <div style="margin-top:0pt;margin-bottom:0pt"></div> The Secured Promissory Notes are secured by a first-ranking security interest over substantially all assets of the Company. Guarantees are provided by the Company's subsidiaries. The Company evaluated the transaction under ASC 470-50, Debt Modifications and Extinguishments, and determined that the issuance of the Streeterville promissory notes and repayment of the Yorkville debenture should be accounted for as an extinguishment of debt. Accordingly, the carrying amount of the Yorkville debenture was derecognized upon settlement, and the newly issued promissory notes were recognized as new debt instruments. The Company initially recorded the Note A and Note B ("promissory notes") at fair value based on the proceeds received, net of directly attributable debt issuance costs. Subsequently, the Company accounts for the promissory notes at amortized cost using the effective interest method. Debt issuance costs are amortized over the contractual life of the respective promissory notes. The Company incurred $615,000 in debt issuance cost related to the promissory notes. The Note A permits the lender to require monthly redemptions beginning on the seventh month following the issuance, subject to the terms of the agreement. Beginning on the seventh month following the issuance date, the lender has the right to require monthly redemptions of up to $500,000 per month plus make-whole interest calculated as if the redeemed amount had remained outstanding until maturity. If the Company fails to satisfy a redemption notice within the required period, the outstanding balance is increased by 20% of the applicable redemption amount. In addition, beginning on the sixth month following the issuance date, both Note A and Note B permit the lender to require limited redemptions of up to 5% of the cumulative daily dollar trading volume during specified redemption windows when the Company's common shares trade at least 15% above the defined Minimum Price per the agreement. Such limited redemptions are payable at 110% of the applicable redemption amount. Both Note A and Note B contain customary trigger event and event of default provisions, including payment defaults, insolvency events, delisting determinations and specified corporate transactions. Upon the occurrence of such trigger events, the lender may increase the outstanding balance by 5% for certain minor trigger events or 15% for certain major trigger events, as more fully described in Note A and Note B, subject to contractual limitations. Following an event of default, the lender may accelerate repayment and default interest may accrue at a rate of up to 18% per annum, subject to applicable law. As at June 30, 2026, the Company was in compliance with the terms and covenants of both notes. In connection with Note B, $10,000,000 of the proceeds were deposited into a restricted deposit account maintained pursuant to a Deposit Account Control Agreement. The lender has control rights over the account upon the occurrence of specified trigger events and may direct the disposition of funds in the account. Under certain circumstances, amounts outstanding under Note B may be exchanged into additional Note A borrowings. Specifically, for each $2.0 million of Note A principal repaid, up to $1.0 million of the outstanding Note B balance may be exchanged into a new Note A advance, subject to the conditions set out in the financing agreements. The Company evaluated the embedded features contained within the promissory notes and concluded that certain features would require bifurcation under ASC 815; however, the fair value of such features was determined to be de minimis. Accordingly, no embedded derivative liability was recorded as of June 30, 2026. <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;padding-left:5pt;padding-right:5pt">Debenture issued on September 17, 2025:</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap">June 30, 2026</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Net balance as at December 31, 2025</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5,245,543</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom">Repayment of new debenture</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(3,180,084</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Interest accretion</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">374,712</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom">Interest payment</td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:12%">(96,393</td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:2%">)</td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Ending balance as of March 31, 2026</td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double #000000;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:2.25pt double #000000;width:12%;background-color:#e6efff">2,343,778</td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double #000000;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom">Repayment of Yorkville debenture</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(2,343,778</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Ending balance as of June 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;border-bottom:2.25pt double #000000;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;border-bottom:2.25pt double #000000;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;border-bottom:2.25pt double #000000;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> <div> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;padding-left:5pt;padding-right:5pt">Note A issued on May 27, 2026:</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap">June 30, 2026</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Proceeds of Note A</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">12,864,225</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom">Discount on debt</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(864,225</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Debt issuance costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(349,091</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom">Interest accretion</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">79,257</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Ending balance</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;border-bottom:2.25pt double #000000;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;border-bottom:2.25pt double #000000;width:12%;background-color:#e6efff">11,730,166</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;border-bottom:2.25pt double #000000;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;padding-left:5pt;padding-right:5pt">Note B issued on May 27, 2026:</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap">June 30, 2026</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Proceeds of Note B</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">10,000,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom">Debt issuance costs</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(265,909</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Interest accretion</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">18,286</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom">Ending balance</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">9,752,376</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <div></div> <div style="margin-top:0pt;margin-bottom:0pt"> As of June 30, 2026, accrued interest of $81,426 related to the promissory notes was included in accounts payable on the condensed consolidated balance sheet, with the corresponding amount recognized in interest expense in the condensed consolidated statement of operations and comprehensive loss. </div> </div>

8000000

633707

7366293

0.08

0.18

2026-09-17

374712 0.3275

2343778

135664

22864225

12864225

12000000

864225

10000000

0.0875

0.05

2027-11-27

615000

500000 0.20 0.05 0.15

1.10

Upon the occurrence of such trigger events, the lender may increase the outstanding balance by 5% for certain minor trigger events or 15% for certain major trigger events, as more fully described in Note A and Note B, subject to contractual limitations. Following an event of default, the lender may accelerate repayment and default interest may accrue at a rate of up to 18% per annum, subject to applicable law.

10000000

2000000 1000000

<div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;padding-left:5pt;padding-right:5pt">Debenture issued on September 17, 2025:</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap">June 30, 2026</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Net balance as at December 31, 2025</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5,245,543</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom">Repayment of new debenture</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(3,180,084</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Interest accretion</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">374,712</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom">Interest payment</td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:12%">(96,393</td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:2%">)</td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Ending balance as of March 31, 2026</td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double #000000;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:2.25pt double #000000;width:12%;background-color:#e6efff">2,343,778</td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double #000000;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom">Repayment of Yorkville debenture</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(2,343,778</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Ending balance as of June 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;border-bottom:2.25pt double #000000;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;border-bottom:2.25pt double #000000;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;border-bottom:2.25pt double #000000;width:2%;background-color:#e6efff"> </td> </tr> </table> </div>

5245543

3180084

374712 96393

2343778

<div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;padding-left:5pt;padding-right:5pt">Note A issued on May 27, 2026:</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap">June 30, 2026</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Proceeds of Note A</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">12,864,225</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom">Discount on debt</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(864,225</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Debt issuance costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(349,091</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom">Interest accretion</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">79,257</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Ending balance</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;border-bottom:2.25pt double #000000;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;border-bottom:2.25pt double #000000;width:12%;background-color:#e6efff">11,730,166</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;border-bottom:2.25pt double #000000;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;padding-left:5pt;padding-right:5pt">Note B issued on May 27, 2026:</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap">June 30, 2026</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Proceeds of Note B</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">10,000,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom">Debt issuance costs</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(265,909</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Interest accretion</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">18,286</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom">Ending balance</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">9,752,376</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> </table> </div>

12864225

864225

349091

79257

11730166

10000000

265909

18286

9752376

81426

10000000

<div> 14. Loss per share Basic and diluted net loss per share attributable to ordinary shareholders was calculated as follows: <table cellpadding="0" cellspacing="0" style="font-size:10pt;border-collapse:collapse;width:100%;border-color:#000000"> <tr> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td colspan="4" style="vertical-align:bottom;white-space:nowrap;text-align:center">Three Months Ended June 30,</td> <td colspan="1" style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td colspan="4" style="vertical-align:bottom;white-space:nowrap;text-align:center">Six Months Ended June 30,</td> <td colspan="1" style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center">2026</td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center">2025</td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center">2026</td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center">2025</td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Net loss attributable to shareholders</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">(11,617,705</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">(6,176,084</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">(20,659,848</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">(11,278,492</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff">)</td> </tr> <tr> <td style="vertical-align:bottom">Weighted average number of common shares outstanding </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">55,055,225</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">14,284,261</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">47,566,945</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:10%;text-align:right">13,853,305</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Basic and diluted net loss per share attributable to shareholders</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">(0.21</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">(0.43</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">(0.43</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:10%;text-align:right;background-color:#e6efff">(0.81</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff">)</td> </tr> </table> The Company's potentially dilutive securities as of June 30, 2026 and 2025, include stock options, warrants, and debentures. The Company excluded the potential ordinary shares outstanding at each period end from the computation of diluted net loss per share attributable to ordinary shareholders for the period ended June 30, 2026 and 2025 because including them would have had an anti-dilutive effect. The following potentially dilutive securities have been excluded from the computations of diluted weighted-average shares outstanding as they would be anti-dilutive: </div> <div> <div> <div> <table cellpadding="0" cellspacing="0" style="font-size:10pt;border-collapse:collapse;width:100%;border-color:#000000"> <tr> <td style="vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom;text-align:center">For the Period Ended</td> <td colspan="1" style="vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;text-align:center">June 30, 2026</td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center">June 30, 2025</td> <td style="vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Stock options</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#e6efff">5,510,000</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#e6efff">1,285,000</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom">Warrants</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right">7,281,795</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right">4,596,795</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;background-color:#e6efff">Debentures</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;border-bottom:0.75pt solid #000000;background-color:#e6efff">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;border-bottom:0.75pt solid #000000;background-color:#e6efff">5,000,000</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right">12,791,795</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right">10,881,795</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> </table> </div> </div> </div>

-11617705

-6176084

-20659848

-11278492

55055225

14284261

47566945

13853305

-0.21

-0.43

-0.81

<div> <div> <div> <table cellpadding="0" cellspacing="0" style="font-size:10pt;border-collapse:collapse;width:100%;border-color:#000000"> <tr> <td style="vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom"> </td> <td colspan="4" style="vertical-align:bottom;text-align:center">For the Period Ended</td> <td colspan="1" style="vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;text-align:center">June 30, 2026</td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:center">June 30, 2025</td> <td style="vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Stock options</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#e6efff">5,510,000</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#e6efff">1,285,000</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom">Warrants</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right">7,281,795</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right">4,596,795</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;background-color:#e6efff">Debentures</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;border-bottom:0.75pt solid #000000;background-color:#e6efff">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;border-bottom:0.75pt solid #000000;background-color:#e6efff">5,000,000</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right">12,791,795</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right">10,881,795</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> </table> </div> </div> </div>

5510000

1285000

7281795

4596795

5000000

12791795

10881795

2812566

840471

815257