SUBSEQUENT EVENTS	6 Months Ended
Jun. 30, 2026
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	16. SUBSEQUENT EVENTS On July 17, 2026, the Company made the second of three installment payments in the amount of $472,388 to Evergreen Capital Management, LLC pursuant to the Evergreen Side Letter described in Note 10, in connection with Evergreen’s agreement to forbear from declaring an event of default under the Senior Secured Convertible Promissory Notes. The Company’s third and final installment payment of $472,388 is due on August 16, 2026. On August 3, 2026, the Board of Directors approved a stock option grant to the Company’s Chief Executive Officer to purchase 109,000 shares of common stock and stock option grants to each of the Company’s four non-employee directors to purchase 23,000 shares of common stock, under the Company’s 2026 Equity Incentive Plan. These grants are not reflected in the Company’s stock-based compensation expense, options outstanding, or related disclosures for the three and six months ended June 30, 2026. Investigation of Former Chief Executive Officer In August 2026, the Audit Committee of the Board of Directors completed an investigation regarding certain personal expenses incurred by the Company’s former Chief Executive Officer using a Company-issued credit card that had been recorded as business expenses in the Company’s financial records. The investigation identified approximately $286,000 in aggregate personal expenses incurred over multiple periods, including periods subsequent to June 30, 2026. The Company determined that the amounts identified did not represent expenses incurred in the ordinary course of the Company’s operations and has classified the applicable amounts within other expense in the accompanying condensed statements of operations. Other expense for the three and six months ended June 30, 2026 includes approximately $24,000 and $32,000, respectively, related to such expenses, compared with approximately $14,000 and $44,000, respectively, for the three and six months ended June 30, 2025. The Company determined that the amounts identified were not material, individually or in the aggregate, to any previously issued financial statements. The Company has demanded repayment from its former Chief Executive Officer of the personal expenses identified by the investigation. As of June 30, 2026, the Company has not recognized a receivable for any amounts sought to be recovered.

SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2026

16. SUBSEQUENT EVENTS

On July 17, 2026, the Company made the second of three installment payments in the amount of $472,388 to Evergreen Capital Management, LLC pursuant to the Evergreen Side Letter described in Note 10, in connection with Evergreen’s agreement to forbear from declaring an event of default under the Senior Secured Convertible Promissory Notes. The Company’s third and final installment payment of $472,388 is due on August 16, 2026.

On August 3, 2026, the Board of Directors approved a stock option grant to the Company’s Chief Executive Officer to purchase 109,000 shares of common stock and stock option grants to each of the Company’s four non-employee directors to purchase 23,000 shares of common stock, under the Company’s 2026 Equity Incentive Plan. These grants are not reflected in the Company’s stock-based compensation expense, options outstanding, or related disclosures for the three and six months ended June 30, 2026.

Investigation of Former Chief Executive Officer

In August 2026, the Audit Committee of the Board of Directors completed an investigation regarding certain personal expenses incurred by the Company’s former Chief Executive Officer using a Company-issued credit card that had been recorded as business expenses in the Company’s financial records. The investigation identified approximately $286,000 in aggregate personal expenses incurred over multiple periods, including periods subsequent to June 30, 2026.

The Company determined that the amounts identified did not represent expenses incurred in the ordinary course of the Company’s operations and has classified the applicable amounts within other expense in the accompanying condensed statements of operations. Other expense for the three and six months ended June 30, 2026 includes approximately $24,000 and $32,000, respectively, related to such expenses, compared with approximately $14,000 and $44,000, respectively, for the three and six months ended June 30, 2025. The Company determined that the amounts identified were not material, individually or in the aggregate, to any previously issued financial statements.

The Company has demanded repayment from its former Chief Executive Officer of the personal expenses identified by the investigation. As of June 30, 2026, the Company has not recognized a receivable for any amounts sought to be recovered.