SUBSEQUENT EVENTS |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| SUBSEQUENT EVENTS | |
| SUBSEQUENT EVENTS | NOTE 7 - SUBSEQUENT EVENTS
Effective July 21, 2026, Venu Aravamudan resigned as a director of the Company. On July 22, 2026, the Board of Directors accepted the resignation and fixed the authorized number of directors of the Company at two. The vacancy resulting from the resignation was not filled.
On August 7, 2026, the Company and Moody Capital Solutions, Inc. entered into Amendment No. 1 to the Company's placement agent and financial advisory engagement. Pursuant to the amendment, Moody Capital's engagement was modified from an exclusive to a non-exclusive engagement, permitting the Company to engage other placement agents, financial advisors and other parties in similar capacities. The amendment also eliminated the Company's prior exclusivity and non-solicitation obligations. Moody Capital retained its rights to fees and other compensation with respect to parties identified on an agreed protected parties schedule, including the applicable fee-tail provisions. |