NOTE 3 – IMMATERIAL REVISION OF PREVIOUSLY REPORTED FINANCIAL INFORMATION

During June 2026, the Company identified a misstatement in grant revenue related to its Texas Space Commission grant (the “Texas Grant”) for the three months ended March 31, 2026 as reported in the Company’s Form 10-Q as of and for the three months ended March 31, 2026 filed on May 14, 2026. The misstatement, which was caused by a clerical error, resulted in an overstatement of grant revenue and gross profit of $900,000 for the three months ended March 31, 2026, and a corresponding overstatement of the grant receivable as of March 31, 2026, but it did not impact the 2025 annual or interim financial statements. Based on an evaluation including both quantitative and qualitative factors pursuant to the SEC Staff’s Accounting Bulletins Nos. 99 (“SAB 99”) and 108 (“SAB 108”) and interpretations therewith, the Company concluded that the aforementioned misstatement was not material to the Company’s previously filed March 31, 2026 condensed consolidated financial statements and that amendment of these previously issued interim condensed consolidated financial statements was not required.

To correct the misstatement, the Company revised its previously reported March 31, 2026 amounts, and such revised amounts and disclosures are reflected in the accompanying condensed consolidated financial statements for the six months ended June 30, 2026. See the table below for the details of the revision:

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