Note 8 – Common Stock Warrants:

The table below presents a reconciliation of the Company’s outstanding and exerciseable warrants for the six months ended June 30, 2026:

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On May 18, 2026, the Company issued stock options to certain Company officers and directors with an exercise price of $4.80 per share. As a result, the Company issued, to holders of the Series E Warrants, an additional 953,335 warrants pursuant to the repricing triggered by the options issuance and repriced the Series E Warrants to $4.80 per share (the “May 2026 Adjustment”).

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As a result of the May 2026 Adjustment, the Company recognized the change in the fair value of the Series E Warrants as a deemed dividend in the amount of approximately $4.2 million during the three and six months ended June 30, 2026. The Company valued the deemed dividend in connection with the May 2026 Adjustment as the difference between: (a) the modified fair value of the

Series E Warrants in the amount of approximately $9.6 million and (b) the fair value of the Series E Warrants prior to the modification of approximately $5.4 million. The fair value of the Series E Warrants before the effect of the May 2026 Adjustment was estimated utilizing the Black Scholes model using the following key inputs and assumptions: the number of shares issuable upon exercise of the Warrants totaling 1,430,000 shares; the exercise price of $8.00 per share; dividend yield of 0%; remaining term of 4.41 years; equity volatility of 130.0%; and a risk-free interest rate of 4.14%. The fair value of the Series E Warrants after the effect of the May 2026 Adjustment was estimated utilizing the Black Scholes model and the following key inputs and assumptions: the number of shares issuable upon exercise of the Series E Warrants totaling 2,383,335 shares; the exercise price of $4.80 per share; dividend yield of 0%; remaining term of 4.41 years; equity volatility of 130.0%; and a risk-free interest rate of 4.14%.

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On July 6, 2026, the Company issued warrants to a consultant with an exercise price of $3.85 per share. As a result, the Company issued, to holders of the Series E Warrants, an additional 565,478 warrants and repriced the Series E Warrants to $3.85 per share.

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As of June 30, 2026, the weighted average exercise price and the weighted average remaining life of the total warrants were $5.54 per warrant and 4.18 years, respectively. The intrinsic value of the warrants as of June 30, 2026 was approximately $295,000. The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the closing price of the Common Stock, which was $3.73 per share on June 30, 2026.