During
the six month ended June 30, 2026, certain employees and contractors (“Terminated Individuals”) were terminated in the
normal course of business. In accordance with the Terminated Individuals agreements, the Company has recognized all payments and share
issuances required by the agreements. Additionally, in accordance with the agreements, certain Terminated Employees have forfeited their
right to certain share grants. Upon cancellation of these shares, the Company has reversed the associated expense recognized in prior
periods.
SCHEDULE
OF SEVERANCE EXPENSE
| | |
| | |
| Accrued separation expense | |
$ | 4,680,000 | |
| Stock based compensation for RSU issued upon separation | |
| 1,724,914 | |
| Other payments | |
| 283,315 | |
| Forfeiture
of RSUs1 | |
| (6,702,745 | ) |
| Severance expense, net | |
$ | (14,516 | ) |
| |
(1) |
Reversal
of previously recognized stock-based compensation expense. |
|