Trade payables are initially recorded at the transaction price and measured at the undiscounted expected payment amount. Accrued expenses reflect the estimated amount needed to settle obligations. Accounts payable totaled $1,044,126 as of June 30, 2026, and $1,005,611 as of December 31, 2025.

As of June 30, 2026, the Company owed $600,000 to Boustead Securities, LLC in connection with the termination of its prior engagement agreement. In addition, the Company owed approximately $370,000 to Bevilacqua PLLC for regulatory and corporate legal services, with the remainder owed to various vendors.