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<p id="xdx_809_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_z5WUPVjfM9z" style="font: 10pt Arial,sans-serif; margin: 0pt 0; text-align: justify; color: #00487F">Note 1 – Description of Business The Company was incorporated under the name Mountain West Business Solutions, Inc. on August 31, 2006, in the State of Colorado. Effective October 15, 2009, the Company acquired Sunshine Biopharma Inc. in a transaction classified as a reverse acquisition. Upon completion of the reverse acquisition, the Company changed its name to Sunshine Biopharma Inc. and began operating as a pharmaceutical company. Sunshine Biopharma has two wholly owned subsidiaries: (i) Nora Pharma Inc. (“Nora Pharma”), a Canadian corporation with a portfolio of pharmaceutical products consisting of 60 generic prescription drugs on the market in Canada, and (ii) Sunshine Biopharma Canada Inc., a Canadian corporation which develops and sells nonprescription, over-the-counter (“OTC”) supplements. The Company operates the two subsidiaries as a single business segment. Sales of the OTC supplements represent less than 3% of the Company’s total annual sales. The Company is not subject to material customer concentration risks as it sells its products directly to pharmacies in several Canadian Provinces. However, Provincial governments in Canada reimburse patients for their prescription drug expenditures to various degrees under drug reimbursement programs, making generic drugs prices highly dependent on government policies which may change over time. The most recent negotiations between the pan-Canadian Pharmaceutical Alliance (“pCPA”), the entity that negotiates drug prices on behalf of the government, and the Canadian Generic Pharmaceutical Association (“CGPA”) resulted in updated generic pricing for certain products which took effect on October 1, 2023. The updated prices are valid for three years and the agreement contains an option to extend for an additional two years. On February 10, 2024, the Canadian federal government joined the generic drug reimbursement program as a payor under the Pharmacare Act. This development further strengthened the Canadian generic drug market, which is the Company’s current focus. In addition, the Company is engaged in the development of the following proprietary drugs: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt"> <tr style="vertical-align: top"> <td style="width: 0.25in; font-family: Times New Roman,serif"> </td> <td style="width: 0.25in; font-family: Times New Roman,serif; text-align: justify">·</td> <td style="font-family: Times New Roman,serif; text-align: justify">K1.1 mRNA, a lipid nano-particle (LNP) targeted for liver cancer</td></tr> <tr style="vertical-align: top"> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">·</td> <td style="font-family: Times New Roman,serif; text-align: justify">SBFM-PL4, a protease inhibitor for treatment of SARS Coronavirus infections</td></tr> </table>

Note 2 – Basis of Presentation The unaudited financial statements of the Company for the three and six month periods ended June 30, 2026 and 2025 have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Regulation S-X. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. However, such information reflects all adjustments (consisting solely of normal recurring adjustments), which are, in the opinion of management, necessary for the fair presentation of the financial position and the results of operations. Results shown for interim periods are not necessarily indicative of the results to be obtained for a full fiscal year. The balance sheet information as of December 31, 2025, was derived from the audited financial statements included in the Company's financial statements as of and for the year ended December 31, 2025, included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on April 3, 2026. These financial statements should be read in conjunction with that report.

Note 3 – Reverse Stock Splits Effective June 1, 2026, April 17, 2024, and August 8, 2024, the Company completed 1-for-10, 1-for-100, and 1-for-20 reverse splits of its common stock, respectively. The Company had previously completed three (3) reverse stock splits including a 1-for-200 reverse split on February 9, 2022, and two 1-for-20 reverse splits, one in 2019 and the other in 2020. The Company’s financial statements included in this report reflect all six (6) reverse stock splits on a retroactive basis for all periods presented and for all references to common stock, unless specifically stated otherwise.

1-for-10

1-for-100

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Note 4 – Acquisition of Nora Pharma Inc. On October 20, 2022, the Company acquired all of the issued and outstanding shares of Nora Pharma Inc. (“Nora Pharma”), a Canadian privately held pharmaceutical company. The purchase price for the shares was $18,860,637 which was paid in cash ($14,346,637) and by the issuance of 185 shares of the Company’s common stock valued at $<span id="xdx_905_eus-gaap--StockIssuedDuringPeriodValueAcquisitions_pp0p0_c20221019__20221020__us-gaap--BusinessAcquisitionAxis__custom--NoraPharmaMember_z3G4AS2cUSF2" title="Stock issued for acquisition, value">4,514,000 or $24,400.00 per share. Nora Pharma sells generic pharmaceutical products in Canada. Nora Pharma’s operations are authorized by a Drug Establishment License issued by Health Canada. As part of the consideration for Nora Pharma, the Company agreed to a $<span id="xdx_902_ecustom--EarnoutPayable_iI_uCAD_c20221020__us-gaap--BusinessAcquisitionAxis__custom--NoraPharmaMember__srt--CounterpartyNameAxis__custom--MalekChamounMember_zqch8HoE4Lc9" title="Earnout payable">5,000,000 CAD ($<span id="xdx_90A_ecustom--EarnoutPayable_iI_uUSD_c20221020__us-gaap--BusinessAcquisitionAxis__custom--NoraPharmaMember__srt--CounterpartyNameAxis__custom--MalekChamounMember_z8oeuNZTyv2c" title="Earnout payable">3,632,000 USD) earnout amount payable to Mr. Malek Chamoun, the seller of Nora Pharma. The earnout was payable in the form of twenty (20) payments of $250,000 CAD for every $1,000,000 CAD increase in gross sales (as defined in the Purchase Agreement) above Nora Pharma’s June 30, 2022 gross sales, provided that his employment with the Company would not be terminated pursuant to the Company’s employment agreement with him. The total earnout amount of $3,632,000 has been recorded as a salary payable. During the fiscal year ended December 31, 2023, the Company paid an earnout amount of $<span id="xdx_905_ecustom--EarnoutLiabilityExpenseFirstInstallment_uCAD_c20230101__20231231__us-gaap--BusinessAcquisitionAxis__custom--NoraPharmaMember_z5NQ0KILYyc2" title="Earnout liability expense, first installment">1,426,914 CAD (approximately $<span id="xdx_90D_ecustom--EarnoutLiabilityExpenseFirstInstallment_uUSD_c20230101__20231231__us-gaap--BusinessAcquisitionAxis__custom--NoraPharmaMember_zHAVVe6gFAIl" title="Earnout liability expense, first installment">1,036,500 USD) for the fiscal year ended December 31, 2022. On April 22, 2024, the Company paid another earnout amount of $<span id="xdx_908_ecustom--EarnoutLiabilityExpenseSecondInstallment_uCAD_c20240421__20240422__us-gaap--BusinessAcquisitionAxis__custom--NoraPharmaMember_zNITWT5Qv8J3" title="Earnout liability expense, second installment">3,093,878 CAD (approximately $2,247,400 USD) for the fiscal year ended December 31, 2023. As of June 30, 2026, the remaining earnout balance was $479,208 CAD ($295,797 USD). This remaining earnout amount was paid by the Company following settlement of the dispute between the Company and Mr. Chamoun on July 8, 2026 (See Note 15).

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Note 5 – Intangible Assets Intangible assets consisted of the following: <table cellpadding="0" cellspacing="0" id="xdx_897_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_z87dwZqqnhw8" style="border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Intangible Assets (Details - Intangible assets)"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman,serif">Schedule of intangible assets</td><td style="font: 10pt Times New Roman,serif"> </td> <td colspan="3" style="font: 10pt Times New Roman,serif; text-align: right"> </td><td style="font: 10pt Times New Roman,serif"> </td> <td colspan="3" style="font: 10pt Times New Roman,serif; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif">Period Ended</td><td style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif; text-align: center">June 30, 2026</td><td style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif; text-align: center">December 31, 2025</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial,sans-serif; width: 66%; text-align: left">Intangible assets at beginning of period, net</td><td style="font: 10pt Arial,sans-serif; width: 2%"> </td> <td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--FiniteLivedIntangibleAssetsNet_iS_c20260101__20260630_zyTx2tZF8xQ3" style="font: 10pt Arial,sans-serif; width: 13%; text-align: right" title="Intangible assets at beginning of period">1,889,370</td><td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left"> </td><td style="font: 10pt Arial,sans-serif; width: 2%"> </td> <td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsNet_iS_c20250101__20251231_z8ehEySSHhX4" style="font: 10pt Arial,sans-serif; width: 13%; text-align: right" title="Intangible assets at beginning of period">3,019,717</td><td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; font: 9pt Arial,sans-serif; text-align: left">Purchase of additional intangible assets (drug licenses & dossiers)</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left"> </td><td id="xdx_985_eus-gaap--FinitelivedIntangibleAssetsAcquired1_d0_c20260101__20260630_zXIgafEf0NL" style="border-bottom: Black 1pt solid; font: 9pt Arial,sans-serif; text-align: right" title="Purchase of additional intangible assets">32,681</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--FinitelivedIntangibleAssetsAcquired1_c20250101__20251231_zAJEMts5M35d" style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: right" title="Purchase of additional intangible assets">774,355</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial,sans-serif">Total</td><td style="font: 10pt Arial,sans-serif"> </td> <td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsGross_iE_c20260101__20260630_zPP2zIrf0Jxg" style="font: 9pt Arial,sans-serif; text-align: right" title="Intangible assets at ending of period">1,922,051</td><td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td style="font: 10pt Arial,sans-serif"> </td> <td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td id="xdx_983_eus-gaap--FiniteLivedIntangibleAssetsGross_iE_c20250101__20251231_zAJh8Z78wMc9" style="font: 10pt Arial,sans-serif; text-align: right" title="Intangible assets at ending of period">3,794,072</td><td style="font: 10pt Arial,sans-serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Arial,sans-serif; text-align: left">Less impairment*</td><td style="font: 10pt Arial,sans-serif"> </td> <td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--ImpairmentOfIntangibleAssetsFinitelived_d0_c20260101__20260630_fKg_____z2uaMMofVghd" style="font: 10pt Arial,sans-serif; text-align: right" title="Less impairment">–</td><td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td style="font: 10pt Arial,sans-serif"> </td> <td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--ImpairmentOfIntangibleAssetsFinitelived_d0_c20250101__20251231_fKg_____ztm4wot8C2W6" style="font: 10pt Arial,sans-serif; text-align: right" title="Less impairment">(1,748,247</td><td style="font: 10pt Arial,sans-serif; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left">Less accumulated amortization</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: right">(80,081)</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left"> </td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_di_c20251231_zPmInUXLyMTa" style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: right" title="Less accumulated amortization">(156,455</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 2.5pt double; font: 10pt Arial,sans-serif; text-align: left">Intangible assets, net</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td id="xdx_983_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20260630_zVI6MZSqNkt7" style="border-bottom: Black 2.5pt double; font-size: 9pt; text-align: right" title="Intangible assets, net">1,841,970</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Arial,sans-serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Arial,sans-serif; text-align: left">$</td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20251231_zv8bVr0NNXM3" style="border-bottom: Black 2.5pt double; font: 10pt Arial,sans-serif; text-align: right" title="Intangible assets, net">1,889,370</td><td style="border-bottom: Black 2.5pt double; font: 10pt Arial,sans-serif; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: justify"> <td style="width: 13px; text-align: left">*</td><td style="text-align: justify">The impairment was a result of determination by the Company that certain product licenses could not be commercialized</td> </tr></table>

<table cellpadding="0" cellspacing="0" id="xdx_897_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_z87dwZqqnhw8" style="border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Intangible Assets (Details - Intangible assets)"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman,serif">Schedule of intangible assets</td><td style="font: 10pt Times New Roman,serif"> </td> <td colspan="3" style="font: 10pt Times New Roman,serif; text-align: right"> </td><td style="font: 10pt Times New Roman,serif"> </td> <td colspan="3" style="font: 10pt Times New Roman,serif; text-align: right"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif">Period Ended</td><td style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif; text-align: center">June 30, 2026</td><td style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif; text-align: center">December 31, 2025</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial,sans-serif; width: 66%; text-align: left">Intangible assets at beginning of period, net</td><td style="font: 10pt Arial,sans-serif; width: 2%"> </td> <td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--FiniteLivedIntangibleAssetsNet_iS_c20260101__20260630_zyTx2tZF8xQ3" style="font: 10pt Arial,sans-serif; width: 13%; text-align: right" title="Intangible assets at beginning of period">1,889,370</td><td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left"> </td><td style="font: 10pt Arial,sans-serif; width: 2%"> </td> <td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsNet_iS_c20250101__20251231_z8ehEySSHhX4" style="font: 10pt Arial,sans-serif; width: 13%; text-align: right" title="Intangible assets at beginning of period">3,019,717</td><td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; font: 9pt Arial,sans-serif; text-align: left">Purchase of additional intangible assets (drug licenses & dossiers)</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left"> </td><td id="xdx_985_eus-gaap--FinitelivedIntangibleAssetsAcquired1_d0_c20260101__20260630_zXIgafEf0NL" style="border-bottom: Black 1pt solid; font: 9pt Arial,sans-serif; text-align: right" title="Purchase of additional intangible assets">32,681</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--FinitelivedIntangibleAssetsAcquired1_c20250101__20251231_zAJEMts5M35d" style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: right" title="Purchase of additional intangible assets">774,355</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial,sans-serif">Total</td><td style="font: 10pt Arial,sans-serif"> </td> <td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsGross_iE_c20260101__20260630_zPP2zIrf0Jxg" style="font: 9pt Arial,sans-serif; text-align: right" title="Intangible assets at ending of period">1,922,051</td><td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td style="font: 10pt Arial,sans-serif"> </td> <td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td id="xdx_983_eus-gaap--FiniteLivedIntangibleAssetsGross_iE_c20250101__20251231_zAJh8Z78wMc9" style="font: 10pt Arial,sans-serif; text-align: right" title="Intangible assets at ending of period">3,794,072</td><td style="font: 10pt Arial,sans-serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Arial,sans-serif; text-align: left">Less impairment*</td><td style="font: 10pt Arial,sans-serif"> </td> <td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--ImpairmentOfIntangibleAssetsFinitelived_d0_c20260101__20260630_fKg_____z2uaMMofVghd" style="font: 10pt Arial,sans-serif; text-align: right" title="Less impairment">–</td><td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td style="font: 10pt Arial,sans-serif"> </td> <td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td id="xdx_98F_eus-gaap--ImpairmentOfIntangibleAssetsFinitelived_d0_c20250101__20251231_fKg_____ztm4wot8C2W6" style="font: 10pt Arial,sans-serif; text-align: right" title="Less impairment">(1,748,247</td><td style="font: 10pt Arial,sans-serif; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left">Less accumulated amortization</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: right">(80,081)</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left"> </td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_di_c20251231_zPmInUXLyMTa" style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: right" title="Less accumulated amortization">(156,455</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 2.5pt double; font: 10pt Arial,sans-serif; text-align: left">Intangible assets, net</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td id="xdx_983_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20260630_zVI6MZSqNkt7" style="border-bottom: Black 2.5pt double; font-size: 9pt; text-align: right" title="Intangible assets, net">1,841,970</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Arial,sans-serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Arial,sans-serif; text-align: left">$</td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20251231_zv8bVr0NNXM3" style="border-bottom: Black 2.5pt double; font: 10pt Arial,sans-serif; text-align: right" title="Intangible assets, net">1,889,370</td><td style="border-bottom: Black 2.5pt double; font: 10pt Arial,sans-serif; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: justify"> <td style="width: 13px; text-align: left">*</td><td style="text-align: justify">The impairment was a result of determination by the Company that certain product licenses could not be commercialized</td> </tr></table>

1889370

3019717

32681

774355

1922051

3794072

-1748247

-80081

156455

1841970

1889370

Note 6 – Plant, Property and Equipment Property, plant and equipment are stated at cost. Depreciation of property, plant and equipment begins in the month when the asset is placed into service and is provided using the straight-line method for financial reporting purposes at rates based on the estimated useful lives of the assets. Estimated useful lives range from three to twenty years. Property, plant and equipment consist of the following: <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--PropertyPlantAndEquipmentTextBlock_zm7yUTqv5nXe" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Plant, Property and Equipment (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of plant property and equipment</td><td> </td> <td colspan="3" id="xdx_491_20260630_zuIFGJU7Wyie" style="text-align: center"> </td><td> </td> <td colspan="3" id="xdx_492_20251231_zRajLlcAiAw3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold">Period Ended</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold; text-align: center">June 30, 2026</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold; text-align: center">December 31, 2025</td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zWWy1E23CUJ7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 66%; font-family: Arial,sans-serif">Equipment</td><td style="width: 2%; font-family: Arial,sans-serif"> </td> <td style="width: 1%; font-family: Arial,sans-serif; text-align: left">$</td><td style="width: 13%; font-family: Arial,sans-serif; text-align: right">291,406</td><td style="width: 1%; font-family: Arial,sans-serif; text-align: left"> </td><td style="width: 2%; font-family: Arial,sans-serif"> </td> <td style="width: 1%; font-family: Arial,sans-serif; text-align: left">$</td><td style="width: 13%; font-family: Arial,sans-serif; text-align: right">335,464</td><td style="width: 1%; font-family: Arial,sans-serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zwq4lKGwppw8" style="vertical-align: bottom; background-color: White"> <td style="font-family: Arial,sans-serif; text-align: left">Computer equipment</td><td style="font-family: Arial,sans-serif"> </td> <td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif; text-align: right">88,800</td><td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif"> </td> <td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif; text-align: right">69,139</td><td style="font-family: Arial,sans-serif; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zLhkIB24vC68" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Arial,sans-serif; text-align: left">Furniture and fixtures</td><td style="font-family: Arial,sans-serif"> </td> <td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif; text-align: right">43,850</td><td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif"> </td> <td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif; text-align: right">45,462</td><td style="font-family: Arial,sans-serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zu7Ify7H0Syd" style="vertical-align: bottom; background-color: White"> <td style="font-family: Arial,sans-serif; text-align: left">Leasehold improvements</td><td style="font-family: Arial,sans-serif"> </td> <td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif; text-align: right">93,961</td><td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif"> </td> <td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif; text-align: right">92,706</td><td style="font-family: Arial,sans-serif; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zmYz64rwuYK3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif">Vehicles</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: right">489,479</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: right">507,478</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzbhx_za5XkJF0UHpj" style="vertical-align: bottom; background-color: White"> <td style="font-family: Arial,sans-serif">Total</td><td style="font-family: Arial,sans-serif"> </td> <td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif; text-align: right">1,007,496</td><td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif"> </td> <td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif; text-align: right">1,070,249</td><td style="font-family: Arial,sans-serif; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzbhx_zQ2hmKAjZajg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left">Less accumulated depreciation</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: right">(530,449</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left">)</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: right">(512,879</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzbhx_zIHQK3ugloK5" style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left">Plant, property and equipment, net</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: right">477,047</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: right">557,370</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--PropertyPlantAndEquipmentTextBlock_zm7yUTqv5nXe" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Plant, Property and Equipment (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of plant property and equipment</td><td> </td> <td colspan="3" id="xdx_491_20260630_zuIFGJU7Wyie" style="text-align: center"> </td><td> </td> <td colspan="3" id="xdx_492_20251231_zRajLlcAiAw3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold">Period Ended</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold; text-align: center">June 30, 2026</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold; text-align: center">December 31, 2025</td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zWWy1E23CUJ7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 66%; font-family: Arial,sans-serif">Equipment</td><td style="width: 2%; font-family: Arial,sans-serif"> </td> <td style="width: 1%; font-family: Arial,sans-serif; text-align: left">$</td><td style="width: 13%; font-family: Arial,sans-serif; text-align: right">291,406</td><td style="width: 1%; font-family: Arial,sans-serif; text-align: left"> </td><td style="width: 2%; font-family: Arial,sans-serif"> </td> <td style="width: 1%; font-family: Arial,sans-serif; text-align: left">$</td><td style="width: 13%; font-family: Arial,sans-serif; text-align: right">335,464</td><td style="width: 1%; font-family: Arial,sans-serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zwq4lKGwppw8" style="vertical-align: bottom; background-color: White"> <td style="font-family: Arial,sans-serif; text-align: left">Computer equipment</td><td style="font-family: Arial,sans-serif"> </td> <td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif; text-align: right">88,800</td><td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif"> </td> <td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif; text-align: right">69,139</td><td style="font-family: Arial,sans-serif; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zLhkIB24vC68" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Arial,sans-serif; text-align: left">Furniture and fixtures</td><td style="font-family: Arial,sans-serif"> </td> <td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif; text-align: right">43,850</td><td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif"> </td> <td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif; text-align: right">45,462</td><td style="font-family: Arial,sans-serif; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zu7Ify7H0Syd" style="vertical-align: bottom; background-color: White"> <td style="font-family: Arial,sans-serif; text-align: left">Leasehold improvements</td><td style="font-family: Arial,sans-serif"> </td> <td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif; text-align: right">93,961</td><td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif"> </td> <td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif; text-align: right">92,706</td><td style="font-family: Arial,sans-serif; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zmYz64rwuYK3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif">Vehicles</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: right">489,479</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: right">507,478</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzbhx_za5XkJF0UHpj" style="vertical-align: bottom; background-color: White"> <td style="font-family: Arial,sans-serif">Total</td><td style="font-family: Arial,sans-serif"> </td> <td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif; text-align: right">1,007,496</td><td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif"> </td> <td style="font-family: Arial,sans-serif; text-align: left"> </td><td style="font-family: Arial,sans-serif; text-align: right">1,070,249</td><td style="font-family: Arial,sans-serif; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzbhx_zQ2hmKAjZajg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left">Less accumulated depreciation</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: right">(530,449</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left">)</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: right">(512,879</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzbhx_zIHQK3ugloK5" style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left">Plant, property and equipment, net</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: right">477,047</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: right">557,370</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left"> </td></tr> </table>

291406

335464

88800

69139

43850

45462

93961

92706

489479

507478

1007496

1070249

530449

512879

477047

557370

Note 7 – Inventory Inventory consists solely of finished goods purchased for resale. Inventory is stated at cost which represents the amount paid to acquire the finished goods. The Company evaluates inventory for potential obsolescence based on a combination of factors, including (i) aging, (ii) historical sell-through patterns, and (iii) product-specific considerations. When estimated net realizable value is lower than cost, the Company records an allowance for obsolescence for the difference. Write-downs are recorded within cost of goods sold and are not subsequently reversed. Inventory is comprised of the following: <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zfQfo55aquM8" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Inventory (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of inventory</td><td> </td> <td colspan="3" id="xdx_49E_20260630_zvfZ2CmoroPf" style="text-align: center"> </td><td> </td> <td colspan="3" id="xdx_495_20251231_zES6KFPFk2F2" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold">Period Ended</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold; text-align: center">June 30, 2026</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold; text-align: center">December 31, 2025</td></tr> <tr id="xdx_401_eus-gaap--InventoryFinishedGoods_iI_zExT6gZLevR5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 66%; font-family: Arial,sans-serif; text-align: left">Finished goods</td><td style="width: 2%; font-family: Arial,sans-serif"> </td> <td style="width: 1%; font-family: Arial,sans-serif; text-align: left">$</td><td style="width: 13%; font-family: Arial,sans-serif; text-align: right">12,966,453</td><td style="width: 1%; font-family: Arial,sans-serif; text-align: left"> </td><td style="width: 2%; font-family: Arial,sans-serif"> </td> <td style="width: 1%; font-family: Arial,sans-serif; text-align: left">$</td><td style="width: 13%; font-family: Arial,sans-serif; text-align: right">13,947,178</td><td style="width: 1%; font-family: Arial,sans-serif; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--AllowanceForObsoleteInventory_iI_msARNCzj7C_zaw8ciihMW7f" style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left">Allowance for obsolete inventory</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: right">(844,657</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left">)</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: right">(475,797</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--InventoryNet_iI_zamwsOZ0FYN2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left">Total Inventory, net of allowance</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: right">12,121,796</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: right">13,472,025</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zfQfo55aquM8" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Inventory (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of inventory</td><td> </td> <td colspan="3" id="xdx_49E_20260630_zvfZ2CmoroPf" style="text-align: center"> </td><td> </td> <td colspan="3" id="xdx_495_20251231_zES6KFPFk2F2" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold">Period Ended</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold; text-align: center">June 30, 2026</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; font-weight: bold; text-align: center">December 31, 2025</td></tr> <tr id="xdx_401_eus-gaap--InventoryFinishedGoods_iI_zExT6gZLevR5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 66%; font-family: Arial,sans-serif; text-align: left">Finished goods</td><td style="width: 2%; font-family: Arial,sans-serif"> </td> <td style="width: 1%; font-family: Arial,sans-serif; text-align: left">$</td><td style="width: 13%; font-family: Arial,sans-serif; text-align: right">12,966,453</td><td style="width: 1%; font-family: Arial,sans-serif; text-align: left"> </td><td style="width: 2%; font-family: Arial,sans-serif"> </td> <td style="width: 1%; font-family: Arial,sans-serif; text-align: left">$</td><td style="width: 13%; font-family: Arial,sans-serif; text-align: right">13,947,178</td><td style="width: 1%; font-family: Arial,sans-serif; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--AllowanceForObsoleteInventory_iI_msARNCzj7C_zaw8ciihMW7f" style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left">Allowance for obsolete inventory</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: right">(844,657</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left">)</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: right">(475,797</td><td style="border-bottom: Black 1pt solid; font-family: Arial,sans-serif; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--InventoryNet_iI_zamwsOZ0FYN2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left">Total Inventory, net of allowance</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: right">12,121,796</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: right">13,472,025</td><td style="border-bottom: Black 2.5pt double; font-family: Arial,sans-serif; text-align: left"> </td></tr> </table>

12966453

13947178

-844657 -475797

12121796

13472025

Note 8 – Leases The Company has obligations as a lessee for warehouse and office space with initial non-cancellable terms in excess of one year. The Company classified the lease as an operating lease. The lease contains a renewal option for a period of five years. Because the Company is certain to exercise the renewal option, the optional period is included in determining the lease term, and associated payments under the renewal option are included in the lease payments. The Company’s lease does not include termination options for either party to the lease or restrictive financial or other covenants. Payments due under the lease contract include fixed payments plus a variable payment. The Company’s office space lease requires it to make variable payments for the Company’s proportionate share of building’s property taxes, insurance, and common area maintenance. These variable lease payments are not included in lease payments used to determine lease liability and are recognized as variable costs when incurred. Amounts reported on the balance sheet as of June 30, 2026 were as follows: <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--LeaseCostTableTextBlock_zYmyiCDwWw71" style="border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Leases (Details - Lease information)"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman,serif">Schedule of lease information</td><td style="font: 10pt Times New Roman,serif"> </td> <td colspan="3" style="font: 10pt Times New Roman,serif; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial,sans-serif; width: 83%; text-align: left">Operating lease ROU asset</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td id="xdx_98D_eus-gaap--OperatingLeaseRightOfUseAsset_iI_c20260630_zUbQJuMSi1ml" style="width: 13%; font-size: 10pt; text-align: right" title="Operating lease ROU asset">648,457</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Arial,sans-serif; text-align: left">Operating Lease liability - Short-term</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20260630_zIdQDLgKR0Fe" style="font-size: 10pt; text-align: right" title="Operating Lease liability - Short-term">202,518</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial,sans-serif; text-align: left">Operating lease liability - Long-term</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_987_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20260630_z4V862mcgWI7" style="font-size: 10pt; text-align: right" title="Operating lease liability - Long-term">475,820</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Arial,sans-serif; text-align: left">Remaining lease term</td><td style="font: 10pt Arial,sans-serif"> </td> <td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td style="font: 10pt Arial,sans-serif; text-align: right">4 Years 3 Months</td><td style="font: 10pt Arial,sans-serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial,sans-serif; text-align: left">Discount rate</td><td style="font: 10pt Arial,sans-serif"> </td> <td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td style="font: 10pt Arial,sans-serif; text-align: right">6%</td><td style="font: 10pt Arial,sans-serif; text-align: left"> </td></tr> </table> Amounts disclosed for ROU assets obtained in exchange for lease obligations and reductions of ROU assets resulting from reductions of lease obligations include amounts reduced from the carrying amount of ROU assets resulting from deferred rent. Maturities of lease liabilities under non-cancellable operating leases at June 30, 2026 are as follows: <table cellpadding="0" cellspacing="0" id="xdx_890_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zr5WU6OqwwF6" style="border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Leases (Details - Maturities of lease payments)"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman,serif">Schedule of maturities of lease liabilities</td><td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td><td id="xdx_495_20260630_zNAVwkuOdDyf" style="font: 10pt Times New Roman,serif; text-align: center"> </td><td style="font: 10pt Times New Roman,serif; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_zaFsizFp9oEg" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Arial,sans-serif; width: 83%; text-align: left">2026</td><td style="font: 10pt Arial,sans-serif; width: 2%"> </td> <td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left">$</td><td style="font: 10pt Arial,sans-serif; width: 13%; text-align: right">102,720</td><td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_zRVeroU8aqf7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial,sans-serif; text-align: left">2027</td><td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td><td style="font: 10pt Times New Roman,serif; text-align: right">197,177</td><td style="font: 10pt Times New Roman,serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_z0SbHAg2TL64" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Arial,sans-serif; text-align: left">2028</td><td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td><td style="font: 10pt Times New Roman,serif; text-align: right">186,920</td><td style="font: 10pt Times New Roman,serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_zEyioaa8jgEi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial,sans-serif; text-align: left">2029</td><td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td><td style="font: 10pt Times New Roman,serif; text-align: right">177,190</td><td style="font: 10pt Times New Roman,serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Arial,sans-serif">Thereafter</td><td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td><td style="font: 10pt Times New Roman,serif; text-align: right">14,331</td><td style="font: 10pt Times New Roman,serif; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--LeaseCostTableTextBlock_zYmyiCDwWw71" style="border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Leases (Details - Lease information)"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman,serif">Schedule of lease information</td><td style="font: 10pt Times New Roman,serif"> </td> <td colspan="3" style="font: 10pt Times New Roman,serif; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial,sans-serif; width: 83%; text-align: left">Operating lease ROU asset</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td id="xdx_98D_eus-gaap--OperatingLeaseRightOfUseAsset_iI_c20260630_zUbQJuMSi1ml" style="width: 13%; font-size: 10pt; text-align: right" title="Operating lease ROU asset">648,457</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Arial,sans-serif; text-align: left">Operating Lease liability - Short-term</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20260630_zIdQDLgKR0Fe" style="font-size: 10pt; text-align: right" title="Operating Lease liability - Short-term">202,518</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial,sans-serif; text-align: left">Operating lease liability - Long-term</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_987_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20260630_z4V862mcgWI7" style="font-size: 10pt; text-align: right" title="Operating lease liability - Long-term">475,820</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Arial,sans-serif; text-align: left">Remaining lease term</td><td style="font: 10pt Arial,sans-serif"> </td> <td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td style="font: 10pt Arial,sans-serif; text-align: right">4 Years 3 Months</td><td style="font: 10pt Arial,sans-serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial,sans-serif; text-align: left">Discount rate</td><td style="font: 10pt Arial,sans-serif"> </td> <td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td style="font: 10pt Arial,sans-serif; text-align: right">6%</td><td style="font: 10pt Arial,sans-serif; text-align: left"> </td></tr> </table>

648457

202518

475820

4 Years 3 Months

0.06

<table cellpadding="0" cellspacing="0" id="xdx_890_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zr5WU6OqwwF6" style="border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Leases (Details - Maturities of lease payments)"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman,serif">Schedule of maturities of lease liabilities</td><td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td><td id="xdx_495_20260630_zNAVwkuOdDyf" style="font: 10pt Times New Roman,serif; text-align: center"> </td><td style="font: 10pt Times New Roman,serif; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_zaFsizFp9oEg" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Arial,sans-serif; width: 83%; text-align: left">2026</td><td style="font: 10pt Arial,sans-serif; width: 2%"> </td> <td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left">$</td><td style="font: 10pt Arial,sans-serif; width: 13%; text-align: right">102,720</td><td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_zRVeroU8aqf7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial,sans-serif; text-align: left">2027</td><td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td><td style="font: 10pt Times New Roman,serif; text-align: right">197,177</td><td style="font: 10pt Times New Roman,serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_z0SbHAg2TL64" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Arial,sans-serif; text-align: left">2028</td><td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td><td style="font: 10pt Times New Roman,serif; text-align: right">186,920</td><td style="font: 10pt Times New Roman,serif; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_zEyioaa8jgEi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial,sans-serif; text-align: left">2029</td><td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td><td style="font: 10pt Times New Roman,serif; text-align: right">177,190</td><td style="font: 10pt Times New Roman,serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Arial,sans-serif">Thereafter</td><td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td><td style="font: 10pt Times New Roman,serif; text-align: right">14,331</td><td style="font: 10pt Times New Roman,serif; text-align: left"> </td></tr> </table>

102720

197177

186920

177190

Note 9 – Income Taxes Our Income tax (expense) / benefit of $0 and $0 for the three and six months ended June 30, 2026, respectively, is primarily due to operations outside of the United States and changes in valuation allowance related to certain deferred tax assets generated or utilized in the applicable period. Our Income tax (expense) / benefit of $209,166 and $249,327 for the three and six months ended June 30, 2025, respectively, is primarily due to operations outside of the United States and changes in valuation allowance related to certain deferred tax assets generated or utilized in the applicable period. Deferred tax assets are regularly reviewed for recoverability by jurisdiction and valuation allowances are established based on historical and projected future taxable losses and the expected timing of the reversal of existing temporary differences. The Company has recorded valuation allowances against all of its deferred tax assets of June 30, 2026, and the Company expects to maintain these valuation allowances until there is sufficient evidence that future earnings can be achieved, which is uncertain at this time. The Company's consolidated financial statements contain various tax related entries as a result of operations of the two Canadian subsidiaries and are in compliance with Canadian tax laws. The Company only recognizes tax benefits from an uncertain tax position if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statement from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate resolution. To date, the Company has not recognized such tax benefits in its financial statements. On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was enacted in the U.S. bringing various changes to U.S. tax law. The OBBBA makes permanent key elements of the Tax Cuts and Jobs Act, including 100% bonus depreciation, domestic research cost expensing, and the business interest expense limitation. The OBBBA also amended section 951A for taxable years beginning after December 31, 2025, replacing the prior global intangible low-taxed income regime with a net CFC tested income inclusion framework. The legislation also modified related provisions, including the deduction under Section 250 for amounts included under Section 951A. ASC Topic 740, Income Taxes, requires the tax effects of changes in tax rates and laws to be recognized in the period in which the legislation is enacted. Those effects, both current tax and deferred tax, are reported as part of continuing operations. The Company is currently assessing its impact on its Consolidated Financial Statements but does not believe that the OBBBA will have a material impact on the Company's income tax expense.

209166

249327

Note 10 – Management and Director Compensation The Company paid its officers aggregate cash compensation of $593,844 and $524,504 for the three-month periods ended June 30, 2026 and 2025, respectively. For the six-month periods ended June 30, 2026 and 2025, the Company paid its officers aggregate cash compensation of $845,004 and $988,801, respectively. Of the amounts paid through June 30, 2026, $<span id="xdx_90C_eus-gaap--SalariesWagesAndOfficersCompensation_c20260101__20260630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AdvanomicsCorporationMember_zBTYEsS1DBr5" title="Officers compensation">232,000 was paid to Advanomics Corporation, a company controlled by the CEO of the Company. The Company paid its directors aggregate cash compensation of $100,000 for each of the three-month periods ended June 30, 2026 and 2025, and $200,000 for each of the six-month periods ended June 30, 2026 and 2025. In April 2026, one of the directors of the Company received a stock award of 10,000 shares of common stock valued at $96,900.

593844

524504

845004

988801

232000

100000

200000

10000

96900

Note 11 – Capital Stock The Company’s authorized capital is comprised of 3,000,000,000 shares of common stock, par value $0.001, and 30,000,000 shares of preferred stock, $0.10 par value. As of June 30, 2026, the Company had authorized 1,000,000 shares of Series B Preferred Stock. The Series B Preferred Stock is non-convertible and non-redeemable. It has a liquidation preference equal to the stated value of $0.10 per share, relative to the common stock and gives the holder the right to 1,000 votes per share. As of June 30, 2026, <span id="xdx_904_eus-gaap--PreferredStockSharesOutstanding_iI_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_z9e4xXjyLZrj" title="Preferred stock, shares outstanding"><span id="xdx_90D_eus-gaap--PreferredStockSharesOutstanding_iI_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zVOC8aglNhc8" title="Preferred stock, shares outstanding">130,000 shares of Series B Preferred Stock were outstanding and held by the Company’s Chief Executive Officer. On January 3, 2025, the Company issued <span id="xdx_900_eus-gaap--ConversionOfStockSharesIssued1_c20250102__20250103__us-gaap--ConversionOfStockByUniqueDescriptionAxis__custom--SeriesBWarrantExercisesMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_z85ibwHCCPue" title="Stock converted, shares issued">12,744 shares of common stock upon the exercise of <span id="xdx_90E_eus-gaap--ConversionOfStockSharesConverted1_c20250102__20250103__us-gaap--ConversionOfStockByUniqueDescriptionAxis__custom--SeriesBWarrantExercisesMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember_zsWSXbmm5qbd" title="Stock converted, shares converted">12,744 Series B Warrants and received $<span id="xdx_905_eus-gaap--ProceedsFromWarrantExercises_c20250102__20250103__us-gaap--ConversionOfStockByUniqueDescriptionAxis__custom--SeriesBWarrantExercisesMember_zvULlnty4qHi" title="Proceeds from warrant exercise">355,298 in net proceeds. On April 2, 2025, the Company issued <span id="xdx_905_eus-gaap--ConversionOfStockSharesIssued1_c20250401__20250402__us-gaap--ConversionOfStockByUniqueDescriptionAxis__custom--SeriesBWarrantExercisesMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zVGnHIPbMuSi" title="Stock converted, shares issued">66,000 shares of common stock upon the exercise of <span id="xdx_907_eus-gaap--ConversionOfStockSharesConverted1_c20250401__20250402__us-gaap--ConversionOfStockByUniqueDescriptionAxis__custom--SeriesBWarrantExercisesMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember_ziVVfDzeR34b" title="Stock converted, shares converted">66,000 Series B Warrants and received $<span id="xdx_903_eus-gaap--ProceedsFromWarrantExercises_c20250401__20250402__us-gaap--ConversionOfStockByUniqueDescriptionAxis__custom--SeriesBWarrantExercisesMember_zdKIZMXmvO4a" title="Proceeds from warrant exercise">1,840,014 in net proceeds. On April 3, 2025, the Company issued an aggregate of <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250401__20250403__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__custom--RegisteredDirectOfferingMember_zseEeCUijX61" title="Stock issued new, shares">118,840 shares of common stock in connection with a registered direct offering and received $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20250401__20250403__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__custom--RegisteredDirectOfferingMember_z6PS39H9daCe" title="Proceeds from issuance of common stock">1,828,596 in net proceeds. On October 16, 2025, the Company issued <span id="xdx_90E_eus-gaap--ConversionOfStockSharesIssued1_c20251015__20251016__us-gaap--ConversionOfStockByUniqueDescriptionAxis__custom--SeriesBWarrantExercisesMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zLN9uBCkQ9y" title="Stock converted, shares issued">35,000 shares of common stock upon the exercise of <span id="xdx_900_eus-gaap--ConversionOfStockSharesConverted1_c20251015__20251016__us-gaap--ConversionOfStockByUniqueDescriptionAxis__custom--SeriesBWarrantExercisesMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember_ziSYMVnGF3Q8" title="Stock converted, shares converted">35,000 Series B Warrants and received net proceeds of $<span id="xdx_908_eus-gaap--ProceedsFromWarrantExercises_c20251015__20251016__us-gaap--ConversionOfStockByUniqueDescriptionAxis__custom--SeriesBWarrantExercisesMember_zGEx206Qgz66" title="Proceeds from warrant exercise">724,500. On May 19, 2026, the Company completed a public offering and received gross proceeds of approximately $<span id="xdx_90A_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn6n6_c20260518__20260519__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOffering2026Member_z9G10vge0Cdc" title="Proceeds from sale of equity">6.0 million. The offering consisted of <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20260518__20260519__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOffering2026Member__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_zY63wQpZKDf1" title="Stock issued new, shares">1,200,000 Common Units (or Pre-Funded Units), <span id="xdx_900_ecustom--UnitDescription_c20260518__20260519__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOffering2026Member__us-gaap--StatementClassOfStockAxis__custom--CommonUnitsMember_z6n2szNBhf4e" title="Description of Units">each consisting of (i) one (1) share of common stock or one (1) pre-funded warrant and (ii) two (2) Series C Warrants to purchase one (1) share of common stock per warrant at an initial exercise price of $5.00. The public offering price per Common Unit was $5.00 (or $4.9999 per Pre-Funded Unit, which is equal to the public offering price per Common Unit sold in the offering minus an exercise price of $0.0001 per share under the pre-funded warrants). The pre-funded warrants were immediately exercisable and could be exercised at any time until exercised in full. All of the pre-funded warrants have been exercised as of June 30, 2026. The Series C Warrants are exercisable immediately and expire five years after the initial issuance date. The exercise price and number of shares issuable under the Series C Warrants are subject to adjustment as described in more detail in the final prospectus filed in connection with the offering. As of June 30, 2026 and December 31, 2025, the Company had 2,388,516 and 490,595 shares of common stock issued and outstanding, respectively. The Company has declared no dividends since inception.

3000000000

0.001

30000000

0.10

1000000

130000

12744

355298

66000

1840014

118840

1828596

35000

724500

6000000

1200000

each consisting of (i) one (1) share of common stock or one (1) pre-funded warrant and (ii) two (2) Series C Warrants to purchase one (1) share of common stock per warrant at an initial exercise price of $5.00.

2388516

490595

Note 12 – Warrants The Company accounts for issued warrants either as a liability or equity in accordance with ASC 480-10 or ASC 815-40. Under ASC 480-10, warrants are considered a liability if they are mandatorily redeemable and they require settlement in cash, other assets, or a variable number of shares. If warrants do not meet liability classification under ASC 480-10, the Company considers the requirements of ASC 815-40 to determine whether the warrants should be classified as a liability or as equity. Under ASC 815-40, contracts that may require settlement for cash are liabilities, regardless of the probability of the occurrence of the triggering event. Liability-classified warrants are measured at fair value on the issuance date and at the end of each reporting period. Any change in the fair value of the warrants after the issuance date is recorded in the consolidated statements of operations as a gain or loss. If warrants do not require liability classification under ASC 815-40, in order to conclude warrants should be classified as equity, the Company assesses whether the warrants are indexed to its common stock and whether the warrants are classified as equity under ASC 815-40 or other applicable GAAP standard. Equity-classified warrants are accounted for at fair value on the issuance date with no changes in fair value recognized after the issuance date. In 2022, 2023, 2024, 2025, and 2026, the Company completed seven (7) financing events, and in connection therewith, it issued warrants as follows: <table cellpadding="0" cellspacing="0" id="xdx_895_ecustom--ScheduleOfWarrantsIssuedWithFinancingTableTextBlock_zvE9p3v6UZLf" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Warrants (Details - Warrants issued with financing)"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">Schedule of warrants issued with financing</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">Issuance Date/Type</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center">Number</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center">Exercise Price</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">Expiry Date</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 45%; font-family: Times New Roman,serif; text-align: justify">Feb 17, 2022 (“Tradeable Warrants”)*</td> <td style="width: 2%; font-family: Times New Roman,serif"> </td> <td style="width: 1%; font-family: Times New Roman,serif"> </td> <td id="xdx_986_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--TradeableWarrantsMember_fKg_____zYbcCZPrIg44" style="width: 13%; font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">206</td> <td style="width: 2%; font-family: Times New Roman,serif"> </td> <td style="width: 2%; font-family: Times New Roman,serif"> </td> <td style="width: 1%; font-family: Times New Roman,serif">$</td> <td style="width: 13%; font-family: Times New Roman,serif; text-align: right"><span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--TradeableWarrantsMember_zq7HXLDFyQYf" style="font-family: Arial,sans-serif; font-size: 9pt">44,400.00</td> <td style="width: 2%; font-family: Times New Roman,serif"> </td> <td style="width: 2%; font-family: Times New Roman,serif"> </td> <td style="width: 17%; font-family: Times New Roman,serif; text-align: justify">February 2027</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman,serif; text-align: justify">Mar 14, 2022 (“2022 Pre-Funded Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td id="xdx_980_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--PreFunded2022WarrantsMember_zIShbjodXf0c" style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">185</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--PreFunded2022WarrantsMember_znZfpdngbR99" style="font-family: Arial,sans-serif; font-size: 9pt">20.00</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">Unlimited</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman,serif; text-align: justify">Mar 14, 2022 (“Investor Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">181</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--InvestorWarrantsMember_z8aM0VgeKbek" style="font-family: Arial,sans-serif; font-size: 9pt">44,400.00</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">March 2027</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman,serif; text-align: justify">Apr 28, 2022 (“April Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--AprilWarrantsMember_zrycPvrvhrb8" style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">487</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--AprilWarrantsMember_zBFHTS4FOjH6" style="font-family: Arial,sans-serif; font-size: 9pt">75,200.00</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">April 2027</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman,serif; text-align: justify">May 16, 2023 (“May Pre-Funded Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td id="xdx_983_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--MayPreFundedWarrantsMember_zK44I4wtxH5d" style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">176</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--MayPreFundedWarrantsMember_zq1AaX1YUip" style="font-family: Arial,sans-serif; font-size: 9pt">20.00</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">Unlimited</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman,serif; text-align: justify">May 16, 2023 (“May Investor Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td id="xdx_984_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--MayInvestorWarrantsMember_zpSsAIXJ3Wh5" style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">596</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--MayInvestorWarrantsMember_z12QqZRfi9Ia" style="font-family: Arial,sans-serif; font-size: 9pt">11,800.00</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">November 2028</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman,serif; text-align: justify">Feb 15, 2024 (“2024 Pre-Funded Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td id="xdx_980_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--PreFunded2024WarrantsMember_zfZemxmvp45d" style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">2,250</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--PreFunded2024WarrantsMember_zUvC89IC7e27" style="font-family: Arial,sans-serif; font-size: 9pt">20.00</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">Unlimited</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman,serif; text-align: justify">Feb 15, 2024 (“Series A Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">399</td> <td style="font-family: Times New Roman,serif">**</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--SeriesAWarrantsMember_fKio___zxiap7sAieg7" style="font-family: Arial,sans-serif; font-size: 9pt">42,000.00</td> <td style="font-family: Times New Roman,serif">**</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">August 2026</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman,serif; text-align: justify">Feb 15, 2024 (“Series B Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">798</td> <td style="font-family: Times New Roman,serif">**</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--SeriesBWarrantsMember_fKio___z3QQ2r0PLqbh" style="font-family: Arial,sans-serif; font-size: 9pt">47,600.00</td> <td style="font-family: Times New Roman,serif">**</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">February 2029</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman,serif; text-align: justify">Apr 3, 2025 (“2025 Pre-Funded Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td id="xdx_986_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--PreFunded2025WarrantsMember_zLikBdnb4J83" style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">26,000</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--PreFunded2025WarrantsMember_zDp1nL4YSImk" style="font-family: Arial,sans-serif; font-size: 9pt">0.01</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">Unlimited</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman,serif; text-align: justify">May 19, 2026 (“Series C Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td id="xdx_986_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--SeriesCWarrantsMember_fKio___zPGyyjcjzjr8" style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">2,400,000</td> <td style="font-family: Times New Roman,serif">**</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--SeriesCWarrantsMember_fKio___z7kWc8rR4r1g" style="font-family: Arial,sans-serif; font-size: 9pt">5.00</td> <td style="font-family: Times New Roman,serif">**</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">May 2031</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">May 19, 2026 (“2026 Pre-Funded Warrants”)</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--PreFunded2026WarrantsMember_fKio___zk0wI7FthxFf" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">84,000</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif">$</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: right"><span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--PreFunded2026WarrantsMember_fKio___z7tUuCHErug" style="font-family: Arial,sans-serif; font-size: 9pt">0.0001</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">Unlimited</td></tr> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt"> <tr style="vertical-align: top"> <td style="width: 13px; font-family: Times New Roman,serif; text-align: justify">*</td> <td style="font-family: Times New Roman,serif; text-align: justify">These warrants trade on Nasdaq under the symbol SBFMW.</td></tr> <tr style="vertical-align: top"> <td style="font-family: Times New Roman,serif; text-align: justify">**</td> <td style="font-family: Times New Roman,serif; text-align: justify">Subject to adjustment.</td></tr> </table> On February 11, 2024, the Company redeemed all of the April Warrants and all of the May Investor Warrants for an aggregate purchase price of $<span id="xdx_906_eus-gaap--PaymentsForRepurchaseOfWarrants_pp0p0_c20240210__20240211__us-gaap--AwardTypeAxis__custom--AprilWarrantsAndMayInvestorWarrantsMember_zsqFr1YbcEFi" title="Payments for repurchase of warrants">3,139,651. As of June 30, 2026, all of the pre-funded warrants, a total of 157 Tradeable Warrants, 141 Investor Warrants, all of the Series A Warrants, 86,937 Series B Warrants (as adjusted), and 382,230 Series C Warrants were exercised resulting in aggregate net proceeds of $20,856,176 received by the Company. The Company’s outstanding warrants as of June 30, 2026 consisted of the following: <table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zkMzSrVszkh3" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Warrants (Details - Warrants outstanding)"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">Schedule of warrants outstanding</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">Type</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center">Number</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center">Exercise Price</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">Expiry Date</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 47%; font-family: Times New Roman,serif; text-align: justify">Tradeable Warrants</td> <td style="width: 2%; font-family: Times New Roman,serif"> </td> <td style="width: 1%; font-family: Times New Roman,serif"> </td> <td id="xdx_981_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--TradeableWarrants1Member_zNKnCZrnAxmj" style="width: 13%; font-family: Times New Roman,serif; text-align: right" title="Number of warrants outstanding">49</td> <td style="width: 1%; font-family: Times New Roman,serif"> </td> <td style="width: 2%; font-family: Times New Roman,serif"> </td> <td style="width: 1%; font-family: Times New Roman,serif">$</td> <td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--TradeableWarrants1Member_zVQM3yVD0jaf" style="width: 13%; font-family: Times New Roman,serif; text-align: right" title="Warrant exercise price">2,200.00</td> <td style="width: 1%; font-family: Times New Roman,serif"> </td> <td style="width: 2%; font-family: Times New Roman,serif"> </td> <td style="width: 17%; font-family: Times New Roman,serif; text-align: justify">February 2027</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman,serif; text-align: justify">Investor Warrants</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: right">40</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--InvestorWarrants1Member_zf19crCsU5J8" style="font-family: Arial,sans-serif; font-size: 9pt">40,000.00</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">March 2027</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman,serif; text-align: justify">Series B Warrants</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: right">12,980,583</td> <td style="font-family: Times New Roman,serif">*</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--SeriesBWarrants1Member_fKg_____zp2SMDXigrql" style="font-family: Arial,sans-serif; font-size: 9pt">2.3949</td> <td style="font-family: Times New Roman,serif">*</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">February 2029</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">Series C Warrants</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: right">2,017,770</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif">**</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif">$</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: right"><span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--SeriesCWarrants1Member_fKio___zEBaUCraZtif" style="font-family: Arial,sans-serif; font-size: 9pt">5.00**</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">May 2031</td></tr> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt"> <tr style="vertical-align: top"> <td style="width: 13px; text-align: justify; font-size: 10pt">*</td> <td style="text-align: justify; font-size: 10pt">As adjusted and subject to further adjustments.</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify; font-size: 10pt">**</td> <td style="text-align: justify; font-size: 10pt">The Series C Warrants adjusted to 4,035,540 warrants with an exercise price of $2.50 per share on July 6, 2026, twenty (20) days following the mailing of the Company’s related 14C to the shareholders of record.</td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_895_ecustom--ScheduleOfWarrantsIssuedWithFinancingTableTextBlock_zvE9p3v6UZLf" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Warrants (Details - Warrants issued with financing)"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">Schedule of warrants issued with financing</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">Issuance Date/Type</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center">Number</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center">Exercise Price</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">Expiry Date</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 45%; font-family: Times New Roman,serif; text-align: justify">Feb 17, 2022 (“Tradeable Warrants”)*</td> <td style="width: 2%; font-family: Times New Roman,serif"> </td> <td style="width: 1%; font-family: Times New Roman,serif"> </td> <td id="xdx_986_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--TradeableWarrantsMember_fKg_____zYbcCZPrIg44" style="width: 13%; font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">206</td> <td style="width: 2%; font-family: Times New Roman,serif"> </td> <td style="width: 2%; font-family: Times New Roman,serif"> </td> <td style="width: 1%; font-family: Times New Roman,serif">$</td> <td style="width: 13%; font-family: Times New Roman,serif; text-align: right"><span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--TradeableWarrantsMember_zq7HXLDFyQYf" style="font-family: Arial,sans-serif; font-size: 9pt">44,400.00</td> <td style="width: 2%; font-family: Times New Roman,serif"> </td> <td style="width: 2%; font-family: Times New Roman,serif"> </td> <td style="width: 17%; font-family: Times New Roman,serif; text-align: justify">February 2027</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman,serif; text-align: justify">Mar 14, 2022 (“2022 Pre-Funded Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td id="xdx_980_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--PreFunded2022WarrantsMember_zIShbjodXf0c" style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">185</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--PreFunded2022WarrantsMember_znZfpdngbR99" style="font-family: Arial,sans-serif; font-size: 9pt">20.00</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">Unlimited</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman,serif; text-align: justify">Mar 14, 2022 (“Investor Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">181</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--InvestorWarrantsMember_z8aM0VgeKbek" style="font-family: Arial,sans-serif; font-size: 9pt">44,400.00</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">March 2027</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman,serif; text-align: justify">Apr 28, 2022 (“April Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--AprilWarrantsMember_zrycPvrvhrb8" style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">487</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--AprilWarrantsMember_zBFHTS4FOjH6" style="font-family: Arial,sans-serif; font-size: 9pt">75,200.00</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">April 2027</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman,serif; text-align: justify">May 16, 2023 (“May Pre-Funded Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td id="xdx_983_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--MayPreFundedWarrantsMember_zK44I4wtxH5d" style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">176</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--MayPreFundedWarrantsMember_zq1AaX1YUip" style="font-family: Arial,sans-serif; font-size: 9pt">20.00</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">Unlimited</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman,serif; text-align: justify">May 16, 2023 (“May Investor Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td id="xdx_984_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--MayInvestorWarrantsMember_zpSsAIXJ3Wh5" style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">596</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--MayInvestorWarrantsMember_z12QqZRfi9Ia" style="font-family: Arial,sans-serif; font-size: 9pt">11,800.00</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">November 2028</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman,serif; text-align: justify">Feb 15, 2024 (“2024 Pre-Funded Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td id="xdx_980_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--PreFunded2024WarrantsMember_zfZemxmvp45d" style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">2,250</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--PreFunded2024WarrantsMember_zUvC89IC7e27" style="font-family: Arial,sans-serif; font-size: 9pt">20.00</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">Unlimited</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman,serif; text-align: justify">Feb 15, 2024 (“Series A Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">399</td> <td style="font-family: Times New Roman,serif">**</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--SeriesAWarrantsMember_fKio___zxiap7sAieg7" style="font-family: Arial,sans-serif; font-size: 9pt">42,000.00</td> <td style="font-family: Times New Roman,serif">**</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">August 2026</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman,serif; text-align: justify">Feb 15, 2024 (“Series B Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">798</td> <td style="font-family: Times New Roman,serif">**</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--SeriesBWarrantsMember_fKio___z3QQ2r0PLqbh" style="font-family: Arial,sans-serif; font-size: 9pt">47,600.00</td> <td style="font-family: Times New Roman,serif">**</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">February 2029</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman,serif; text-align: justify">Apr 3, 2025 (“2025 Pre-Funded Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td id="xdx_986_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--PreFunded2025WarrantsMember_zLikBdnb4J83" style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">26,000</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--PreFunded2025WarrantsMember_zDp1nL4YSImk" style="font-family: Arial,sans-serif; font-size: 9pt">0.01</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">Unlimited</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman,serif; text-align: justify">May 19, 2026 (“Series C Warrants”)</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td id="xdx_986_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--SeriesCWarrantsMember_fKio___zPGyyjcjzjr8" style="font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">2,400,000</td> <td style="font-family: Times New Roman,serif">**</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--SeriesCWarrantsMember_fKio___z7kWc8rR4r1g" style="font-family: Arial,sans-serif; font-size: 9pt">5.00</td> <td style="font-family: Times New Roman,serif">**</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">May 2031</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">May 19, 2026 (“2026 Pre-Funded Warrants”)</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--PreFunded2026WarrantsMember_fKio___zk0wI7FthxFf" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: right" title="Warrants outstanding">84,000</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif">$</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: right"><span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--PreFunded2026WarrantsMember_fKio___z7tUuCHErug" style="font-family: Arial,sans-serif; font-size: 9pt">0.0001</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">Unlimited</td></tr> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt"> <tr style="vertical-align: top"> <td style="width: 13px; font-family: Times New Roman,serif; text-align: justify">*</td> <td style="font-family: Times New Roman,serif; text-align: justify">These warrants trade on Nasdaq under the symbol SBFMW.</td></tr> <tr style="vertical-align: top"> <td style="font-family: Times New Roman,serif; text-align: justify">**</td> <td style="font-family: Times New Roman,serif; text-align: justify">Subject to adjustment.</td></tr> </table>

206

44400.00

February 2027

185

20.00

Unlimited

181

44400.00

March 2027

487

75200.00

April 2027

176

20.00

Unlimited

596

11800.00

November 2028

2250

20.00

Unlimited

399

42000.00

August 2026

798

47600.00

February 2029

26000

0.01

Unlimited

2400000

5.00

May 2031

84000

0.0001

Unlimited

3139651

157 141 86937 382230

20856176

<table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zkMzSrVszkh3" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Warrants (Details - Warrants outstanding)"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">Schedule of warrants outstanding</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">Type</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center">Number</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: center">Exercise Price</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">Expiry Date</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 47%; font-family: Times New Roman,serif; text-align: justify">Tradeable Warrants</td> <td style="width: 2%; font-family: Times New Roman,serif"> </td> <td style="width: 1%; font-family: Times New Roman,serif"> </td> <td id="xdx_981_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260630__us-gaap--AwardTypeAxis__custom--TradeableWarrants1Member_zNKnCZrnAxmj" style="width: 13%; font-family: Times New Roman,serif; text-align: right" title="Number of warrants outstanding">49</td> <td style="width: 1%; font-family: Times New Roman,serif"> </td> <td style="width: 2%; font-family: Times New Roman,serif"> </td> <td style="width: 1%; font-family: Times New Roman,serif">$</td> <td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--TradeableWarrants1Member_zVQM3yVD0jaf" style="width: 13%; font-family: Times New Roman,serif; text-align: right" title="Warrant exercise price">2,200.00</td> <td style="width: 1%; font-family: Times New Roman,serif"> </td> <td style="width: 2%; font-family: Times New Roman,serif"> </td> <td style="width: 17%; font-family: Times New Roman,serif; text-align: justify">February 2027</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman,serif; text-align: justify">Investor Warrants</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: right">40</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--InvestorWarrants1Member_zf19crCsU5J8" style="font-family: Arial,sans-serif; font-size: 9pt">40,000.00</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">March 2027</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman,serif; text-align: justify">Series B Warrants</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: right">12,980,583</td> <td style="font-family: Times New Roman,serif">*</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">$</td> <td style="font-family: Times New Roman,serif; text-align: right"><span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--SeriesBWarrants1Member_fKg_____zp2SMDXigrql" style="font-family: Arial,sans-serif; font-size: 9pt">2.3949</td> <td style="font-family: Times New Roman,serif">*</td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify">February 2029</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">Series C Warrants</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: right">2,017,770</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif">**</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif">$</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: right"><span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260630__us-gaap--AwardTypeAxis__custom--SeriesCWarrants1Member_fKio___zEBaUCraZtif" style="font-family: Arial,sans-serif; font-size: 9pt">5.00**</td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif"> </td> <td style="border-bottom: black 1pt solid; font-family: Times New Roman,serif; text-align: justify">May 2031</td></tr> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt"> <tr style="vertical-align: top"> <td style="width: 13px; text-align: justify; font-size: 10pt">*</td> <td style="text-align: justify; font-size: 10pt">As adjusted and subject to further adjustments.</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify; font-size: 10pt">**</td> <td style="text-align: justify; font-size: 10pt">The Series C Warrants adjusted to 4,035,540 warrants with an exercise price of $2.50 per share on July 6, 2026, twenty (20) days following the mailing of the Company’s related 14C to the shareholders of record.</td></tr> </table>

2200.00

February 2027

40000.00

March 2027

12980583

2.3949

February 2029

2017770

5.00

May 2031

Note 13 – Earnings Per Share The following table sets forth the computation of basic* net (loss) per share: <table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zCMnPiqPEBCe" style="border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Earnings Per Share (Details)"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: justify">Schedule of computation of basic net income per share</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"> </td> <td colspan="3" id="xdx_49E_20260101__20260630_zTCOiRrzg67" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: center"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"> </td> <td colspan="3" id="xdx_494_20250101__20250630_znIZE5CUkfra" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif">Six Months Ended June 30,</td><td style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif; text-align: center">2026</td><td style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif; text-align: center">2025</td></tr> <tr id="xdx_405_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_zJTZQxKAsFkc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial,sans-serif; width: 66%; text-align: justify">Net gain (loss) attributable to common stock</td><td style="font: 10pt Arial,sans-serif; width: 2%"> </td> <td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left">$</td><td style="font: 10pt Arial,sans-serif; width: 13%; text-align: right">(2,807,917</td><td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left">)</td><td style="font: 10pt Arial,sans-serif; width: 2%"> </td> <td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left">$</td><td style="font: 10pt Arial,sans-serif; width: 13%; text-align: right">(2,950,605</td><td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Arial,sans-serif; text-align: justify">Weighted average outstanding shares of common stock</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">952,435</td><td style="font-size: 10pt; text-align: left"> </td><td style="font: 10pt Arial,sans-serif"> </td> <td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td style="font: 10pt Arial,sans-serif; text-align: right">360,465</td><td style="font: 10pt Arial,sans-serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: justify">Net gain (loss) per share attributable to common stock</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: right">(2.95</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left">)</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: right">(8.19</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left">)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: justify"> <td style="width: 13px; text-align: left">*</td><td style="text-align: justify">Diluted net income (loss) per share is not included in this table as the Company incurred net losses for the years ended December 31, 2026 and 2025 and inclusion of dilutive instruments would have an anti-dilutive effect.</td> </tr></table>

<table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zCMnPiqPEBCe" style="border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Earnings Per Share (Details)"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: justify">Schedule of computation of basic net income per share</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"> </td> <td colspan="3" id="xdx_49E_20260101__20260630_zTCOiRrzg67" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: center"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif"> </td> <td colspan="3" id="xdx_494_20250101__20250630_znIZE5CUkfra" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman,serif; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif">Six Months Ended June 30,</td><td style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif; text-align: center">2026</td><td style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Arial,sans-serif; text-align: center">2025</td></tr> <tr id="xdx_405_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_zJTZQxKAsFkc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial,sans-serif; width: 66%; text-align: justify">Net gain (loss) attributable to common stock</td><td style="font: 10pt Arial,sans-serif; width: 2%"> </td> <td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left">$</td><td style="font: 10pt Arial,sans-serif; width: 13%; text-align: right">(2,807,917</td><td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left">)</td><td style="font: 10pt Arial,sans-serif; width: 2%"> </td> <td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left">$</td><td style="font: 10pt Arial,sans-serif; width: 13%; text-align: right">(2,950,605</td><td style="font: 10pt Arial,sans-serif; width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Arial,sans-serif; text-align: justify">Weighted average outstanding shares of common stock</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">952,435</td><td style="font-size: 10pt; text-align: left"> </td><td style="font: 10pt Arial,sans-serif"> </td> <td style="font: 10pt Arial,sans-serif; text-align: left"> </td><td style="font: 10pt Arial,sans-serif; text-align: right">360,465</td><td style="font: 10pt Arial,sans-serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: justify">Net gain (loss) per share attributable to common stock</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: right">(2.95</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left">)</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: right">(8.19</td><td style="border-bottom: Black 1pt solid; font: 10pt Arial,sans-serif; text-align: left">)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: justify"> <td style="width: 13px; text-align: left">*</td><td style="text-align: justify">Diluted net income (loss) per share is not included in this table as the Company incurred net losses for the years ended December 31, 2026 and 2025 and inclusion of dilutive instruments would have an anti-dilutive effect.</td> </tr></table>

-2807917

-2950605

952435

360465

-2.95

-8.19

Note 14 – Segment Reporting The Company operates as one operating segment, which is also its one reportable segment, as the Chief Executive Officer, acting as the Chief Operating Decision Maker (“CODM”), evaluates financial performance and allocates resources on a consolidated, enterprise-wide basis. The Company’s operations are managed as an integrated pharmaceutical business focused on the research, development, and commercialization of prescription drugs and supplements. Although the Company conducts activities through multiple legal entities — including Sunshine Biopharma Inc. (U.S.), Sunshine Biopharma Canada Inc. (Canada), and Nora Pharma Inc. (Canada) — these entities operate under a unified management structure with shared economic characteristics, common product development objectives, and centralized decision making. As such, they do not meet the criteria for separate operating segments under ASC 280 – Segment Reporting. In accordance with ASU 2023-07, the Company provides the following information regarding its single reportable segment: <table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt"> <tr style="vertical-align: top"> <td style="width: 0.25in; font-family: Times New Roman,serif"> </td> <td style="width: 0.25in; font-family: Times New Roman,serif">·</td> <td style="font-family: Times New Roman,serif; text-align: justify">Measure of Segment Profit (Loss): The CODM evaluates performance using consolidated operating income (loss), which is consistent with the amounts presented in the accompanying consolidated financial statements.</td></tr> <tr style="vertical-align: top"> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">·</td> <td style="font-family: Times New Roman,serif; text-align: justify">Significant Segment Expenses: Research and development expenses, and supply chain costs, selling and marketing expenses, and general and administrative expenses are all incurred and reviewed on a consolidated basis.</td></tr> <tr style="vertical-align: top"> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">·</td> <td style="font-family: Times New Roman,serif; text-align: justify">Other Segment Items: Interest income, interest expense, foreign exchange gains and losses, and other non-operating items are also managed and reviewed on a consolidated basis.</td></tr> <tr style="vertical-align: top"> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif; text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="font-family: Times New Roman,serif"> </td> <td style="font-family: Times New Roman,serif">·</td> <td style="font-family: Times New Roman,serif; text-align: justify">Reconciliation: As the Company has only one reportable segment, no additional reconciliation to consolidated totals is required beyond what is presented in the consolidated statements of operations.</td></tr> </table> The Company’s operations are conducted in Canada and substantially all long-lived assets are located in this jurisdiction. Revenues are generated from customers located in Canada.

Note 15 – Legal Matters On April 10, 2025, the Company terminated the employment of Mr. Malek Chamoun, president of the Company’s wholly owned Canadian subsidiary, Nora Pharma. On April 17, 2025, the Company received a demand letter from the attorneys of Mr. Chamoun requesting that the Company pay to Mr. Chamoun $7,307,025 CAD (approximately $5,300,000 USD) within five (5) days. On July 8, 2026, the Company entered into an agreement of transaction and mutual release (the “Release Agreement”) with Mr. Chamoun. Pursuant to the Release Agreement, the Company agreed to pay Mr. Chamoun $<span id="xdx_906_eus-gaap--PaymentsForLegalSettlements_uCAD_c20260707__20260708__us-gaap--TransactionTypeAxis__custom--ReleaseAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zeqjGjpBZHJ1" title="Final settlement">1,500,000 CAD (approximately $<span id="xdx_90F_eus-gaap--PaymentsForLegalSettlements_uUSD_c20260707__20260708__us-gaap--TransactionTypeAxis__custom--ReleaseAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z6ju856Lj7m8" title="Final settlement">1,058,565 million USD) in full and final settlement of the dispute between the parties. The total amount of the settlement had been accrued under earnout payable, salaries, and reimbursable employee expenses. The Company paid this amount in accordance with the Release Agreement on August 10, 2026.

1500000

1058565

Note 16 – Subsequent Events On July 20, 2026, the Company entered into an At-The-Market Issuance Sales Agreement (the “Sales Agreement”) with Aegis Capital Corp. (the “Agent”), under which the Company may, from time to time, sell shares of the Company’s common stock, for an aggregate offering price of up to $4,000,000, in “at-the-market” offerings through or to the Agent, as exclusive sales agent (the “ATM Offering”). Subject to the terms and conditions of the Sales Agreement and the applicable placement notice, sales of the Company’s common stock may be made by any method permitted by law deemed to be an “at-the-market offering” as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended, including sales made directly on or through the Nasdaq Capital Market or any other existing trading market for the Company’s common stock. The Agent will receive a commission from the Company of 3.0% of the gross proceeds from the sale of any shares of common stock under the Sales Agreement, in addition to reimbursement of certain expenses. From July 27, 2026 through August 12, 2026, the Company sold 1,430,521 shares of its common stock under the ATM Offering and received $1,722,555 in net proceeds. On August 3, 2026, the Company’s Series B Warrants were adjusted to 25,477,133 warrants with an exercise price of $1.2202 per share as a result of sales of common stock by the Company under its ATM Offering . On August 7, 2026, the Company issued 58,300 shares of common stock to one of its directors for services rendered to the Company.

false false false false The impairment was a result of determination by the Company that certain product licenses could not be commercialized These warrants trade on Nasdaq under the symbol SBFMW. Subject to adjustment. As adjusted and subject to further adjustments. The Series C Warrants adjusted to 4,035,540 warrants with an exercise price of $2.50 per share on July 6, 2026, twenty (20) days following the mailing of the Company’s related 14C to the shareholders of record.