MANAGEMENT’S PLANS	6 Months Ended
Jun. 30, 2026
Managements Plans
MANAGEMENT’S PLANS	NOTE 3 – MANAGEMENT’S PLANS The Company’s future expenditures and capital requirements will depend on numerous factors, including: the progress of our research and development efforts; the rate at which the Company can, directly or through arrangements with original equipment manufacturers, introduce and sell its polymer materials technology; the costs of filing, prosecuting, defending and enforcing any patent claims and other intellectual property rights; market acceptance of the Company’s products and competing technological developments; and the Company’s ability to establish joint development, joint venture and licensing arrangements. Based on its current operating plan, management believes the Company's existing cash, cash equivalents and marketable securities are sufficient to fund operations through at least December 2027. On December 15, 2025, the Company entered into an underwriting agreement with an investment bank to sell a total of 13,416,667 shares of its common stock, inclusive of the underwriter’s overallotment option. The net proceeds to the Company from this offering were $37,756,628, after deducting underwriting discounts and commissions and other offering expenses payable by the Company. On March 17, 2025, the Company entered into a purchase agreement with an institutional investor to sell up to $30,000,000 of common stock over a 36-month period (described in Note 11). This purchase agreement was terminated on December 15, 2025. As of the termination date, the Company had received $3,646,655 pursuant to this agreement. On December 9, 2022, the Company entered into a sales agreement with an investment banking company whereby the Company could offer and sell shares of its common stock having an aggregate offering price of up to $35,000,000 from time to time through or to the investment banking company, as sales agent. On April 20, 2026, the Company entered into an amendment to the sales agreement to increase the amount of shares of common stock that may be sold under this agreement to $51,404,500. As of June 30, 2026 and as of the date of this filing, pursuant to the sales agreement, the Company has sold $51,401,115 in shares of common stock and has $3,385 in shares remaining available to the Company per the agreement. The Company's first commercial agreement was executed in May 2023 pursuant to a material supply and license agreement that incorporates the Company's patented electro-optic polymer materials for use in manufacturing photonic devices (described in Note 5). For the three and six months ended June 30, 2026, the Company recognized $32,751 and $61,918 in revenue related to this agreement, respectively. Management expects the Company's cash requirements to increase as it continues to advance the commercialization of its electro-optic polymer technology and expand its research, development and commercial activities. The Company currently has no debt to service.

MANAGEMENT’S PLANS

6 Months Ended

Jun. 30, 2026

NOTE 3 – MANAGEMENT’S PLANS

The Company’s future expenditures and capital requirements will depend on numerous factors, including: the progress of our research and development efforts; the rate at which the Company can, directly or through arrangements with original equipment manufacturers, introduce and sell its polymer materials technology; the costs of filing, prosecuting, defending and enforcing any patent claims and other intellectual property rights; market acceptance of the Company’s products and competing technological developments; and the Company’s ability to establish joint development, joint venture and licensing arrangements. Based on its current operating plan, management believes the Company's existing cash, cash equivalents and marketable securities are sufficient to fund operations through at least December 2027.

On December 15, 2025, the Company entered into an underwriting agreement with an investment bank to sell a total of 13,416,667 shares of its common stock, inclusive of the underwriter’s overallotment option. The net proceeds to the Company from this offering were $37,756,628, after deducting underwriting discounts and commissions and other offering expenses payable by the Company.

On March 17, 2025, the Company entered into a purchase agreement with an institutional investor to sell up to $30,000,000 of common stock over a 36-month period (described in Note 11). This purchase agreement was terminated on December 15, 2025. As of the termination date, the Company had received $3,646,655 pursuant to this agreement.

On December 9, 2022, the Company entered into a sales agreement with an investment banking company whereby the Company could offer and sell shares of its common stock having an aggregate offering price of up to $35,000,000 from time to time through or to the investment banking company, as sales agent. On April 20, 2026, the Company entered into an amendment to the sales agreement to increase the amount of shares of common stock that may be sold under this agreement to $51,404,500. As of June 30, 2026 and as of the date of this filing, pursuant to the sales agreement, the Company has sold $51,401,115 in shares of common stock and has $3,385 in shares remaining available to the Company per the agreement.

The Company's first commercial agreement was executed in May 2023 pursuant to a material supply and license agreement that incorporates the Company's patented electro-optic polymer materials for use in manufacturing photonic devices (described in Note 5). For the three and six months ended June 30, 2026, the Company recognized $32,751 and $61,918 in revenue related to this agreement, respectively.

Management expects the Company's cash requirements to increase as it continues to advance the commercialization of its electro-optic polymer technology and expand its research, development and commercial activities. The Company currently has no debt to service.