v3.26.1
Subsequent Events
6 Months Ended
Jun. 30, 2026
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 12—SUBSEQUENT EVENTS

 

The Company has evaluated subsequent events that occurred after June 30, 2026 through August 14, 2026, the issuance date of these financial statements.

 

On July 1, 2026, the Company issued 122 shares of series E convertible preferred stock to Streeterville as payment of $121,662 of accrued dividends.

 

On July 8, 2026, the Company issued 160,436 shares of common stock, with a fair value of $93,000, as consideration for transfer agent services.

 

On July 9, 2026, 160 shares of series E convertible preferred stock were converted into 358,669 shares of common stock, resulting in a $50,000 reduction in Series E convertible preferred stock.

 

On July 16, 2026, the Company entered into a standstill agreement with Streeterville, pursuant to which Streeterville agreed that, for the period beginning on the date of the standstill agreement and ending on the date that is one hundred twenty (120) days thereafter, it would not seek to convert any shares of series E convertible preferred stock into common stock unless on any given trading day the common stock trades at a price that is at least ten percent (10%) greater than the “Minimum Price” as defined in Nasdaq Rule 5635; provided that this standstill agreement shall terminate immediately upon the occurrence of any breach of the standstill agreement or any Event of Default (as defined in the Certificate of Designation).