12. CORRECTION OF IMMATERIAL ERRORS

As disclosed in the Company's Form 10-K filed on April 15, 2026, and Form 10-K/A filed on July 21, 2026, certain revisions, noted below, were necessary to the previously filed financial statements for the three and six months ended June 30, 2025.

The Company identified the following errors affecting the previously filed financial statements:

(i) an under-recognition of research and development expenses of $255,479 during the three months ended March 31, 2025, that was instead recorded in the three and six months ended June 30, 2025;

(ii) an under-accrual of business development expenses, related to hourly billings for services between May and June 2025, where insufficient accruals for those services were provided based on information available at the time of reporting for those periods.

The Company determined business development expenses of $376,125 and $376,125, respectively, should have been recorded as selling, administrative and general expenses in the unaudited condensed consolidated interim statements of operations for the three and six months ended June 30, 2025, and research and development expenses in the unaudited condensed consolidated interim statement of operations for the three months ended June 30, 2025 was overstated by $255,479.

A tabular presentation of each affected prior interim period, for each line item impacted, showing the amount as previously reported, the amount of correction, and the amount as corrected, is as follows:

Unaudited condensed consolidated interim statement of operations for the three months ended June 30, 2025

Line item	As previously reported	Adjustment		As corrected
Selling, administrative and general(*)	1,614,680	376,125		1,990,805
Research and development expenses	441,992	(255,479	)	186,513
Operating loss	2,056,672	120,646		2,177,318
Net loss	1,813,781	120,646		1,934,427
Loss per share	0.09	-		0.09

(*) Conformed to current presentation (Note 3)

Unaudited condensed consolidated interim statement of operations for the six months ended June 30, 2025

Line item	As previously reported	Adjustment	As corrected
Selling, administrative and general(*)	3,238,754	376,125	3,614,879
Operating loss	3,680,746	376,125	4,056,871
Net loss	4,211,409	376,125	4,587,534
Loss per share	0.21	0.02	0.23

(*) Conformed to current presentation (Note 3)

Unaudited condensed consolidated interim balance sheet as of June 30, 2025

Line item	As previously reported		Adjustment		As corrected
Accounts payable and accrued liabilities	661,401		376,125		1,037,526
Total current liabilities	16,879,073		376,125		17,255,198
Total liabilities	16,988,849		376,125		17,364,974
Accumulated deficit	(21,098,224	)	(376,125	)	(21,474,349	)
Total stockholders' equity (deficit)	(3,565,520	)	(376,125	)	(3,941,645	)

Unaudited condensed consolidated interim statement of cash flows for the six months ended June 30, 2025

Line item	As previously reported		Adjustment		As corrected
Net loss for the year	(4,211,409	)	(376,125	)	(4,587,534	)
Changes in non-cash working capital: Accounts payable and accrued liabilities	(70,355	)	376,125		305,770
Net cash used in operating activities	(3,488,588	)	-		(3,488,588	)

Unaudited condensed consolidated interim statement of changes in stockholders' equity (deficit) for the six months ended June 30, 2025

Line item	As previously reported		Adjustment		As corrected
Accumulated deficit	(21,098,224	)	(376,125	)	(21,474,349	)
Total stockholders' equity (deficit)	(3,565,520	)	(376,125	)	(3,941,645	)

For the three and six months ended June 30, 2025, the corrected net loss is $1,934,427 and $4,587,534, respectively, or $0.09 per share, and $0.23 per share, respectively.

The Company evaluated the corrections and has determined their impacts were immaterial, individually and in aggregate, to the previously issued unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2025.