Equity Line of Credit and Stock Subscription Receivable	6 Months Ended
Jun. 30, 2026
Equity Line Of Credit And Stock Subscription Receivable
Equity Line of Credit and Stock Subscription Receivable	Note 6 – Equity Line of Credit and Stock Subscription Receivable On January 29, 2026, the Company entered into a Common Stock Purchase Agreement and related Registration Rights Agreement with RH2 Equity Partners, L.P. (the “Investor”), collectively referred to as the equity line of credit agreement. Under the agreement, the Company may, at its sole election and subject to the terms, conditions, and limitations of the agreement, sell and issue to the Investor up to $10,000,000 of the Company’s common stock. The Company filed a registration statement on Form S-1 registering the offer and resale of up to 20,000,000 shares of common stock issuable to the Investor under the equity line of credit agreement. The registration statement was declared effective by the Securities and Exchange Commission on May 6, 2026. The Board of Directors previously authorized the reservation of 20,000,000 authorized but unissued shares of common stock for issuance under the agreement. On June 21, 2026, the Board of Directors approved Purchase Notice No. 1 and authorized the issuance and sale of 5,920,000 shares of the Company’s common stock to the Investor pursuant to the equity line of credit agreement. The Board also authorized the Company’s officers to execute the purchase notice, transfer-agent instructions, issuance forms, and other documents necessary to cause the shares to be issued and delivered to the Investor in direct registration system format. On June 21, 2026, the Company issued 5,920,000 shares of common stock to the Investor pursuant to the equity line of credit agreement and recorded aggregate consideration of $182,810. The Company recorded $5,920 in common stock, representing the $0.001 par value of the shares issued, and $176,890 in additional paid-in capital. As of June 30, 2026, the Company had not received payment from the Investor for the shares. Accordingly, the Company recorded a stock subscription receivable of $182,810 as a contra-equity account within stockholders’ equity. No cash proceeds related to the issuance were included in the accompanying statement of cash flows for the six months ended June 30, 2026. The issuance is disclosed as a supplemental noncash financing activity. The stock subscription receivable will remain classified as contra-equity until the related consideration is collected. Upon receipt of payment, the Company will reduce the stock subscription receivable and record the corresponding increase in cash.

Equity Line of Credit and Stock Subscription Receivable

6 Months Ended

Jun. 30, 2026

Equity Line Of Credit And Stock Subscription Receivable

Equity Line of Credit and Stock Subscription Receivable

Note 6 – Equity Line of Credit and Stock Subscription Receivable

On January 29, 2026, the Company entered into a Common Stock Purchase Agreement and related Registration Rights Agreement with RH2 Equity Partners, L.P. (the “Investor”), collectively referred to as the equity line of credit agreement. Under the agreement, the Company may, at its sole election and subject to the terms, conditions, and limitations of the agreement, sell and issue to the Investor up to $10,000,000 of the Company’s common stock.

The Company filed a registration statement on Form S-1 registering the offer and resale of up to 20,000,000 shares of common stock issuable to the Investor under the equity line of credit agreement. The registration statement was declared effective by the Securities and Exchange Commission on May 6, 2026. The Board of Directors previously authorized the reservation of 20,000,000 authorized but unissued shares of common stock for issuance under the agreement.

On June 21, 2026, the Board of Directors approved Purchase Notice No. 1 and authorized the issuance and sale of 5,920,000 shares of the Company’s common stock to the Investor pursuant to the equity line of credit agreement. The Board also authorized the Company’s officers to execute the purchase notice, transfer-agent instructions, issuance forms, and other documents necessary to cause the shares to be issued and delivered to the Investor in direct registration system format.

On June 21, 2026, the Company issued 5,920,000 shares of common stock to the Investor pursuant to the equity line of credit agreement and recorded aggregate consideration of $182,810. The Company recorded $5,920 in common stock, representing the $0.001 par value of the shares issued, and $176,890 in additional paid-in capital.

As of June 30, 2026, the Company had not received payment from the Investor for the shares. Accordingly, the Company recorded a stock subscription receivable of $182,810 as a contra-equity account within stockholders’ equity. No cash proceeds related to the issuance were included in the accompanying statement of cash flows for the six months ended June 30, 2026. The issuance is disclosed as a supplemental noncash financing activity.

The stock subscription receivable will remain classified as contra-equity until the related consideration is collected. Upon receipt of payment, the Company will reduce the stock subscription receivable and record the corresponding increase in cash.