NOTE 4 – License, Patents, Software and Other Technologies Agreements

The following summarizes the Company’s research and development expenses for licenses, patents, software and other technologies acquired (including stock-based compensation) during the three and six months ended June 30, 2026 and 2025:

The George Washington University

During the three and six months ended June 30, 2026, the Company recorded expenses of $0 and $0, respectively, related to license fees pursuant to the patent license agreement with The George Washington University (“GW”) dated February 1, 2020 (“GW Patent License Agreement”) and the patent license agreement with GW dated August 7, 2020.

During the three and six months ended June 30, 2025, the Company recorded expenses of $1,250 and $2,500, respectively, related to license fees pursuant to the GW Patent License Agreement and the patent license agreement with GW dated August 7, 2020.

North Carolina State University

During the three months ended June 30, 2026 and 2025, the Company recorded expenses of $0 and $938, respectively, for license fees associated with the license agreement by and between the Company and North Carolina State University dated February 25, 2021.

During the six months ended June 30, 2026 and 2025, the Company recorded expenses of $0 and $1,875, respectively, for license fees associated with the license agreement by and between the Company and North Carolina State University dated February 25, 2021.

University of Cincinnati

During the three months ended June 30, 2026 and 2025, the Company recognized expenses of $0 and $2,708, respectively, for license fees associated with the Assignment and Assumption Agreement by and between the Company and the University of Cincinnati dated May 14, 2020.

During the six months ended June 30, 2026 and 2025, the Company recognized expenses of $0 and $3,333, respectively, for license fees associated with the Assignment and Assumption Agreement by and between the Company and the University of Cincinnati dated May 14, 2020.

Virginia Commonwealth University

During the three and six months ended June 30, 2026 and 2025, the Company recognized expenses of $10,000 and $0, respectively, for license fees associated with the Exclusive License Agreement by and between the Company and Virginia Commonwealth University Intellectual Property Foundation dated May 15, 2026 (the “VCU License Agreement”).

During the three and six months ended June 30, 2025, the Company did not recognize any expenses for license fees associated with the VCU License Agreement.

U.S. Department of Veterans Affairs

During the three and six months ended June 30, 2026 and 2025, the Company recognized expenses of $37,500 and $0, respectively, for license fees associated with the exclusive license agreement by and between the Company and the U.S. Department of Veterans Affairs dated December 9, 2024 (the “VA Agreement”).

During the three and six months ended June 30, 2025, the Company did not recognize any expenses for license fees associated with the VA Agreement.

Patent Applications, Software and Other Technologies

During the six months ended June 30, 2026 and 2025, the Company recorded $0 and $1,250,500, respectively, for research and development expenses, associated with the Patent Application Acquisition Agreement by and between the Company and Med30 LLC dated January 13, 2025.

On June 18, 2026, the Company entered into an Asset Purchase Agreement with Skystage, Inc., whereby the Company purchased software and related technologies for the delivery of custom drone light shows using drone cluster technologies for $210,000 in cash. For asset acquisitions, in-process research and development (“IPRD”) is expensed immediately unless there is an alternative future use. The software and technologies acquired do not constitute a business, as defined under ASU 2017-01, Business Combinations (Topic 805) Clarifying the Definition of a Business (such when there is no substantive process in the acquired entity). The acquired IPRD intangible assets will be used in research and development projects which have been determined to not have alternative future use at the acquisition date and was expensed immediately. Accordingly, during the three and six months ended June 30, 2026, the Company recorded $210,000 in research and development expenses.