Note 17. Subsequent Event

On June 30, 2026, the Company established Catalyst Compute LLC, a wholly owned subsidiary, to conduct its AI compute infrastructure business. On July 17, 2026, Catalyst Compute LLC entered into a GPU Compute Services Agreement with Canopy Wave, Inc. with an aggregate contract value of approximately $44.6 million.

In July 2026, the Company received several conversion notices from a holder of its Series C Convertible Preferred Stock to convert 1,175 shares of Series C Convertible Preferred Stock into 2,299,052 shares of the Company’s Class B common stock in accordance with the terms of the Certificate of Designations governing the Series C Convertible Preferred Stock. Upon conversion, the Company recorded the par value of the Class B common stock issued as common stock, with the remaining amount recorded as additional paid-in capital.

In July and August 2026, the Company sold an aggregate of 8,182,307 shares of its Class B common stock under the ATM Sales Agreement for aggregate gross proceeds of $7,066,522.

On July 22, 2026, the related registration statement became effective, registering up to 151,112,186 shares for potential issuance and resale under the Chardan equity purchase facility.