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2025-12-31 0001947016 fjet:FederalMember 2024-12-31 0001947016 us-gaap:StateAndLocalJurisdictionMember 2024-12-31 pure shares iso4217:USD iso4217:USD shares true 0001947016 S-1/A STARFIGHTERS SPACE, INC. DE 4512 92-1012803 Non-accelerated Filer true true false The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, or until this registration statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine. true <div style="font-size: 10pt; font-family: Times New Roman;"> <div> Summary Compensation Table Our named executive officers for the fiscal year ended December 31, 2025 ("Fiscal 2025") consists of (i) Rick Svetkoff, who served as our President, CEO and Executive Chairman until his resignation from all positions after Fiscal 2025, on February 19, 2026, (ii) David Whitney, our current Chief Financial Officer, and (iii) Tim Franta, our Vice President of Development who was appointed as our CEO after Fiscal 2025, on February 22, 2026. Our named executive officers for the fiscal year ended December 31, 2024 ("Fiscal 2024") consists of (i) Rick Svetkoff, our former President and CEO, (ii) David Whitney, our Chief Financial Officer, and (iii) Tim Franta, our Vice President of Development and current CEO. The following Summary Compensation Table sets forth the compensation earned by or paid to our named executive officers for Fiscal 2025 and Fiscal 2024 are as follows: <div> </div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding: 1.75pt 5.4pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; border-left: 0.75pt solid #000000; width: 15.0794%;">Name and Principal Position</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 4.98866%;">Year</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 4.98866%;">Salary ($)</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 4.98866%;">Bonus ($)</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 6.12245%;">Stock awards ($)</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 4.98866%;">Option awards ($)</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 8.5034%;">Non-equity incentive plan compensation ($)</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 8.5034%;">Non- qualified deferred compensation earnings ($)</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 8.5034%;">All other compensation ($)</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 6.12245%;">Total ($)</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; border-right: 0.75pt solid #000000; width: 2.04082%;"> </td> </tr> <tr> <td style="padding: 1.75pt 5.4pt; vertical-align: bottom; border-left: 0.75pt solid #000000; text-align: left; width: 15.0794%;">Rick Svetkoff (1)</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%;">2025</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%;">372,000</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%;">10,097</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 6.12245%;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%;">868,102</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%;">13,250</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 6.12245%;">1,263,449</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; text-align: left; width: 2.04082%; border-right: 0.75pt solid #000000;"> </td> </tr> <tr> <td style="padding: 1.75pt 5.4pt; vertical-align: bottom; border-left: 0.75pt solid #000000; text-align: left; width: 15.0794%; border-bottom: 0.75pt solid #000000;">Former President, CEO and Executive Chairman</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%; border-bottom: 0.75pt solid #000000;">2024</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%; border-bottom: 0.75pt solid #000000;">270,000</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%; border-bottom: 0.75pt solid #000000;">10,000</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 6.12245%; border-bottom: 0.75pt solid #000000;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%; border-bottom: 0.75pt solid #000000;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%; border-bottom: 0.75pt solid #000000;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%; border-bottom: 0.75pt solid #000000;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%; border-bottom: 0.75pt solid #000000;">13,250</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 6.12245%; border-bottom: 0.75pt solid #000000;">293,250</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; text-align: left; width: 2.04082%; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> </tr> <tr> <td style="padding: 1.75pt 5.4pt; vertical-align: bottom; border-left: 0.75pt solid #000000; text-align: left; width: 15.0794%;">David Whitney (2)</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%;">2025</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%;">180,000</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 6.12245%;">2,692,500</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 6.12245%;">2,872,500</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; text-align: left; width: 2.04082%; border-right: 0.75pt solid #000000;"> </td> </tr> <tr> <td style="padding: 1.75pt 5.4pt; vertical-align: bottom; border-left: 0.75pt solid #000000; text-align: left; width: 15.0794%; border-bottom: 0.75pt solid #000000;">CFO</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%; border-bottom: 0.75pt solid #000000;">2024</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%; border-bottom: 0.75pt solid #000000;">102,000</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%; border-bottom: 0.75pt solid #000000;">55,000</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 6.12245%; border-bottom: 0.75pt solid #000000;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%; border-bottom: 0.75pt solid #000000;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%; border-bottom: 0.75pt solid #000000;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%; border-bottom: 0.75pt solid #000000;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%; border-bottom: 0.75pt solid #000000;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 6.12245%; border-bottom: 0.75pt solid #000000;">157,000</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; text-align: left; width: 2.04082%; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> </tr> <tr> <td style="padding: 1.75pt 5.4pt; vertical-align: bottom; border-left: 0.75pt solid #000000; text-align: left; width: 15.0794%;">Tim Franta VP of</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%;">2025</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%;">120,000</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%;">5,000</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 6.12245%;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%;">217,025</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 6.12245%;">342,025</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; text-align: left; width: 2.04082%; border-right: 0.75pt solid #000000;"> </td> </tr> <tr> <td style="padding: 1.75pt 5.4pt; vertical-align: bottom; border-left: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 15.0794%;">Development(3)</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%; border-bottom: 0.75pt solid #000000;">2024</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%; border-bottom: 0.75pt solid #000000;">114,000</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%; border-bottom: 0.75pt solid #000000;">5,000</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 6.12245%; border-bottom: 0.75pt solid #000000;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 4.98866%; border-bottom: 0.75pt solid #000000;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%; border-bottom: 0.75pt solid #000000;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%; border-bottom: 0.75pt solid #000000;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 8.5034%; border-bottom: 0.75pt solid #000000;">-</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 2.04082%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: left; width: 1.02041%; border-bottom: 0.75pt solid #000000;"> </td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: top; text-align: right; width: 6.12245%; border-bottom: 0.75pt solid #000000;">119,000</td> <td style="padding-top: 1.75pt; padding-bottom: 1.75pt; vertical-align: bottom; text-align: left; width: 2.04082%; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> </tr> </table> Notes: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="vertical-align: top;"> </td> <td style="vertical-align: top;"> (1) </td> <td style="vertical-align: top;"> Mr. Svetkoff was appointed as our President and CEO September 6, 2022, and was appointed as Executive Chairman on June 1, 2024. He resigned from all positions on February 19, 2026. Mr. Svetkoff's stock option awards had not vested as of the date of his resignation, and therefore, were automatically forfeited and cancelled. Mr. Svetkoff's salary for 2025 contained $300,000 in management fees, and $72,000 in director fees. Mr. Svetkoff's salary for 2024 contained $222,000 in management fees, and $48,000 in director fees. Amounts also include $13,250 for the personal use of the Company-provided vehicle in 2025 and $13,250 in 2024. </td> </tr> <tr> <td style="vertical-align: top;"> </td> <td style="vertical-align: top;"> (2) </td> <td style="vertical-align: top;"> Mr. Whitney was appointed as our CFO on January 1, 2024. </td> </tr> <tr> <td style="vertical-align: top;"> </td> <td style="vertical-align: top;"> (3) </td> <td style="vertical-align: top;"> Mr. Franta was appointed as our CEO on February 22, 2026. Mr. Franta's salary for 2025 contained $96,000 in professional fees, and $24,000 in director fees. Mr. Franta's salary in 2024 contained $90,000 in professional fees, and $24,000 in director fees. </td> </tr> </table> </div> During our most recently completed financial years, we did not pay any other executive compensation to our named executive officers. </div> </div> <div style="font-size: 10pt; font-family: Times New Roman;"> <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; border: 0.75pt solid #000000; font-size: 10pt; margin-left: auto; margin-right: auto;"> <tr> <td rowspan="2" style="padding: 1.75pt 5.4pt; vertical-align: bottom; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center;">Name</td> <td colspan="5" style="padding: 1.75pt 5.4pt; vertical-align: bottom; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; border-left: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Option awards</td> <td colspan="4" style="padding: 1.75pt 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; border-left: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Stock awards</td> </tr> <tr> <td style="padding: 1.75pt 5.4pt; vertical-align: bottom; border: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Number of securities underlying unexercised options (#) exercisable</td> <td style="padding: 1.75pt 5.4pt; vertical-align: bottom; border: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Number of securities underlying unexercised options (#) unexercisable</td> <td style="padding: 1.75pt 5.4pt; vertical-align: bottom; border: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Equity incentive plan awards: Number of securities underlying unexercised unearned options (#)</td> <td style="padding: 1.75pt 5.4pt; vertical-align: bottom; border: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Option exercise price ($)</td> <td style="padding: 1.75pt 5.4pt; vertical-align: bottom; border: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Option expiration date</td> <td style="padding: 1.75pt 5.4pt; vertical-align: bottom; border: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Number of shares or units of stock that have not vested (#)</td> <td style="padding: 1.75pt 5.4pt; vertical-align: bottom; border: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Market value of shares of units of stock that have not vested ($)</td> <td style="padding: 1.75pt 5.4pt; vertical-align: bottom; border: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Equity incentive plan awards: Number of unearned shares, units or other rights that have not vested (#)</td> <td style="padding: 1.75pt 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; border-left: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Equity incentive plan awards: Market or payout value of unearned shares, units or other rights that have not vested ($)</td> </tr> <tr> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: justify;">Rick Svetkoff (former CEO, President and Executive Chairman)</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border: 0.75pt solid #000000; text-align: center;">Nil</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border: 0.75pt solid #000000; text-align: center;">500,000</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border: 0.75pt solid #000000; text-align: center;">N/A</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border: 0.75pt solid #000000; text-align: center;">$3.59</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border: 0.75pt solid #000000; text-align: center;">Aug. 12, 2030</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border: 0.75pt solid #000000; text-align: center;">N/A</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border: 0.75pt solid #000000; text-align: center;">N/A</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border: 0.75pt solid #000000; text-align: center;">N/A</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; border-left: 0.75pt solid #000000; text-align: center;">N/A</td> </tr> <tr> <td style="padding: 1.75pt 5.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: justify;">David Whitney</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border: 0.75pt solid #000000; text-align: center;">N/A</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border: 0.75pt solid #000000; text-align: center;">N/A</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border: 0.75pt solid #000000; text-align: center;">N/A</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border: 0.75pt solid #000000; text-align: center;">N/A</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border: 0.75pt solid #000000; text-align: center;">N/A</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border: 0.75pt solid #000000; text-align: center;">N/A</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border: 0.75pt solid #000000; text-align: center;">N/A</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border: 0.75pt solid #000000; text-align: center;">712,500</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; border-left: 0.75pt solid #000000; text-align: center;">8,300,625</td> </tr> <tr> <td style="padding: 1.75pt 5.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; text-align: justify;">Tim Franta</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; text-align: center;">Nil</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; text-align: center;">125,000</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; text-align: center;">N/A</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; text-align: center;">$3.59</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; text-align: center;">Aug. 12, 2030</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; text-align: center;">N/A</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; text-align: center;">N/A</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000; border-left: 0.75pt solid #000000; text-align: center;">N/A</td> <td style="padding: 1.75pt 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000; text-align: center;">N/A</td> </tr> </table> </div> </div> <div style="font-size: 10pt; font-family: Times New Roman;"> <div> Retirement Benefits The Company does not have any defined benefit or defined contribution plans that provide for payments or benefits at, following or in connection with retirement. Separation Benefits The Company does not have any agreements that provide for payment(s) to a named executive officer at, following, or in connection with the resignation, retirement or other termination of a name executive officer, or a change in control of the smaller reporting company or a change in the named executive officer's responsibilities following a change in control, with respect to each named executive officer. </div> </div> <div style="font-size: 10pt; font-family: Times New Roman;"> <div> <div> Recovery (Clawback) Policy On August 22, 2025, the Board of Directors of the Company adopted the Starfighters Space, Inc. Policy for the Recovery of Erroneously Awarded Incentive-Based Compensation (the "Recovery Policy"), with an effective date of August 22, 2025, which complies with Section 10D of the Exchange Act, Rule 10D-1 of the Exchange Act ("Rule 10D-1"), and the listing rules adopted by NYSE American (collectively, the "Final Clawback Rules"). The Board has designated the Compensation Committee of the Board as the administrator of the Recovery Policy. </div> <div> </div> <div> The Recovery Policy provides for the mandatory recovery of erroneously awarded incentive-based compensation from current and former executive officers as defined in Rule 10D-1 ("Covered Officers") of the Company in the event that the Company is required to prepare an accounting restatement, in accordance with the Final Clawback Rules. The recovery of such compensation applies regardless of whether a Covered Officer engaged in misconduct or otherwise caused or contributed to the requirement of an accounting restatement. Under the Recovery Policy, the Company may recoup from the Covered Officers erroneously awarded incentive-based compensation received within a lookback period of the three completed fiscal years preceding the date on which the Company is required to prepare an accounting restatement. A copy of our Recovery Policy is attached as Exhibit 97.1 to this prospectus. </div> </div> </div> On August 22, 2025, the Board of Directors of the Company adopted the Starfighters Space, Inc. Policy for the Recovery of Erroneously Awarded Incentive-Based Compensation (the "Recovery Policy"), with an effective date of August 22, 2025, which complies with Section 10D of the Exchange Act, Rule 10D-1 of the Exchange Act ("Rule 10D-1"), and the listing rules adopted by NYSE American (collectively, the "Final Clawback Rules"). The Board has designated the Compensation Committee of the Board as the administrator of the Recovery Policy. 2025-08-22 <div style="font-size: 10pt; font-family: Times New Roman;"> <div> Timing of Stock Awards and Disclosure of Material Nonpublic Information The Company does not follow a predetermined scheduled for granting stock options. Typically, the Board of Directors and the Compensation Committee consider granting stock options after the filing of the Company's Annual Report on Form 10-K and announcement of the financial results for that fiscal year end. The granting of stock options or other awards under the Company's Amended and Restated 2023 Stock Incentive Plan is contingent on the Company's performance. <div> The Board of Directors and the Compensation Committee review and approve these awards. They ensure that material nonpublic information (MNPI) is taken into account when determining the timing and terms of the awards and, if MNPI is present, the award will be deferred until such information has been publicly disclosed. The Company does not time the disclosure of MNPI to influence the value of executive compensation. All material information is disclosed promptly in accordance with SEC rules and regulations and the Company's internal policies. </div> </div> </div> The Company does not follow a predetermined scheduled for granting stock options. Typically, the Board of Directors and the Compensation Committee consider granting stock options after the filing of the Company's Annual Report on Form 10-K and announcement of the financial results for that fiscal year end. The granting of stock options or other awards under the Company's Amended and Restated 2023 Stock Incentive Plan is contingent on the Company's performance. false true <div> The Board of Directors and the Compensation Committee review and approve these awards. They ensure that material nonpublic information (MNPI) is taken into account when determining the timing and terms of the awards and, if MNPI is present, the award will be deferred until such information has been publicly disclosed. The Company does not time the disclosure of MNPI to influence the value of executive compensation. All material information is disclosed promptly in accordance with SEC rules and regulations and the Company's internal policies. </div> false

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<div> 3. SIGNIFICANT ACCOUNTING POLICIES <div> <div> a) Cash and cash equivalents <div style="margin-top: 13.3333px; margin-bottom: 13.3333px;"> </div> Cash and cash equivalents include cash on hand, deposits held with banks, and when applicable, short-term, highly liquid deposits which are either cashable or with original maturities of less than three months. There are no cash equivalents as of June 30, 2026 or December 31, 2025. At times, the Company's cash balance exceeds the federally insured limits. </div> </div> b) Restricted cash Restricted cash include: (i) deposits held with banks that are held as collateral for the corporate credit cards of the Company, with balances of $50,842 and $50,592 as of June 30, 2026 and December 31, 2025, respectively; and (ii) balances of $895,876 held with banks that are frozen or otherwise restricted due to ongoing disputes with the former CEO of the Company, as further discussed in Note 11. c) Investments The Company's short-term investments are treasury notes with original maturities greater than 3 months and less than one year. The following table summarizes the Company's investment securities as of June 30, 2026 and December 31, 2025. All of the Company's investments mature within the next 12 months. <div style="margin-left: 0px;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center;"> </td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td colspan="10" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">June 30, 2026</td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Cost</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Unrealized gains</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Unrealized losses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Fair value</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Short-term investments</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 15pt;">U.S. treasury notes</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">21,652,923</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">77,423</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">21,730,346</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Investments - restricted</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 15pt; border-bottom: 0.75pt solid #000000;">Certificates of deposits</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">500,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">8,229</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">508,229</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">22,152,923</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">85,652</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">22,238,575</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> <div style="margin-left: 0px;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td colspan="10" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">December 31, 2025</td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Cost</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Unrealized gains</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Unrealized losses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Fair value</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Short-term investments</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 15pt; border-bottom: 0.75pt solid #000000;">U.S. treasury notes</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">15,244,510</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">29,665</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">15,274,175</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">15,244,510</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">29,665</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">15,274,175</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> Certificates of deposits are presented as restricted investments on the unaudited condensed consolidated interim balance sheet as of June 30, 2026 despite having maturities within the next 12 months, as such accounts are frozen or otherwise restricted due to ongoing disputes with the former CEO of the Company, as further discussed in Note 11. The short-term investments are level 1 investments in the fair value hierarchy. These securities are presented on the unaudited condensed consolidated interim balance sheets at fair value. Earnings from these securities are included in interest income on the unaudited condensed consolidated interim statements of operations. At times, the Company's short-term investment balance exceeds the federally insured limits for brokerages. d) Reclassification Certain balances in the unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2025 have been reclassified to conform to the presentation in the unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2026. In the prior year, the Company separately disclosed contract labour and fuel, repairs and maintenance, vehicle expense, rent expense, advertising and promotion, bank charges, business development, consulting fees, director fees, franchise tax, insurance, licenses, listing fees, management fees, office and administrative, professional fees, and travel and entertainment, and in the current year the Company has reclassified these costs on the unaudited condensed consolidated statement of operations within selling, general and administrative. The Company also previously separately disclosed grant income, and foreign exchange gain or loss, and in the current year the Company has reclassified these costs on the unaudited condensed consolidated statement of operations within other. The Company also disaggregated interest income to separately present realized and unrealized gain on short-term investments. These reclassifications had no effect on the Company's previously reported results of operations, changes in stockholders' equity, or cash flows. </div>

<div> a) Cash and cash equivalents <div style="margin-top: 13.3333px; margin-bottom: 13.3333px;"> </div> Cash and cash equivalents include cash on hand, deposits held with banks, and when applicable, short-term, highly liquid deposits which are either cashable or with original maturities of less than three months. There are no cash equivalents as of June 30, 2026 or December 31, 2025. At times, the Company's cash balance exceeds the federally insured limits. </div>

b) Restricted cash Restricted cash include: (i) deposits held with banks that are held as collateral for the corporate credit cards of the Company, with balances of $50,842 and $50,592 as of June 30, 2026 and December 31, 2025, respectively; and (ii) balances of $895,876 held with banks that are frozen or otherwise restricted due to ongoing disputes with the former CEO of the Company, as further discussed in Note 11.

50842

50592

895876

c) Investments The Company's short-term investments are treasury notes with original maturities greater than 3 months and less than one year. The following table summarizes the Company's investment securities as of June 30, 2026 and December 31, 2025. All of the Company's investments mature within the next 12 months. <div style="margin-left: 0px;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center;"> </td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td colspan="10" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">June 30, 2026</td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Cost</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Unrealized gains</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Unrealized losses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Fair value</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Short-term investments</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 15pt;">U.S. treasury notes</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">21,652,923</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">77,423</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">21,730,346</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Investments - restricted</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 15pt; border-bottom: 0.75pt solid #000000;">Certificates of deposits</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">500,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">8,229</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">508,229</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">22,152,923</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">85,652</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">22,238,575</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> <div style="margin-left: 0px;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td colspan="10" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">December 31, 2025</td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Cost</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Unrealized gains</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Unrealized losses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Fair value</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Short-term investments</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 15pt; border-bottom: 0.75pt solid #000000;">U.S. treasury notes</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">15,244,510</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">29,665</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">15,274,175</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">15,244,510</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">29,665</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">15,274,175</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> Certificates of deposits are presented as restricted investments on the unaudited condensed consolidated interim balance sheet as of June 30, 2026 despite having maturities within the next 12 months, as such accounts are frozen or otherwise restricted due to ongoing disputes with the former CEO of the Company, as further discussed in Note 11. The short-term investments are level 1 investments in the fair value hierarchy. These securities are presented on the unaudited condensed consolidated interim balance sheets at fair value. Earnings from these securities are included in interest income on the unaudited condensed consolidated interim statements of operations. At times, the Company's short-term investment balance exceeds the federally insured limits for brokerages.

<div style="margin-left: 0px;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center;"> </td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td colspan="10" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">June 30, 2026</td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Cost</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Unrealized gains</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Unrealized losses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Fair value</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Short-term investments</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 15pt;">U.S. treasury notes</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">21,652,923</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">77,423</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">21,730,346</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Investments - restricted</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 15pt; border-bottom: 0.75pt solid #000000;">Certificates of deposits</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">500,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">8,229</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">508,229</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">22,152,923</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">85,652</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">22,238,575</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> <div style="margin-left: 0px;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td colspan="10" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">December 31, 2025</td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Cost</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Unrealized gains</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Unrealized losses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Fair value</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Short-term investments</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 15pt; border-bottom: 0.75pt solid #000000;">U.S. treasury notes</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">15,244,510</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">29,665</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">15,274,175</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">15,244,510</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">29,665</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">15,274,175</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div>

21652923

77423

21730346

500000

8229

508229

22152923

85652

22238575

15244510

29665

15274175

15244510

29665

15274175

d) Reclassification Certain balances in the unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2025 have been reclassified to conform to the presentation in the unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2026. In the prior year, the Company separately disclosed contract labour and fuel, repairs and maintenance, vehicle expense, rent expense, advertising and promotion, bank charges, business development, consulting fees, director fees, franchise tax, insurance, licenses, listing fees, management fees, office and administrative, professional fees, and travel and entertainment, and in the current year the Company has reclassified these costs on the unaudited condensed consolidated statement of operations within selling, general and administrative. The Company also previously separately disclosed grant income, and foreign exchange gain or loss, and in the current year the Company has reclassified these costs on the unaudited condensed consolidated statement of operations within other. The Company also disaggregated interest income to separately present realized and unrealized gain on short-term investments. These reclassifications had no effect on the Company's previously reported results of operations, changes in stockholders' equity, or cash flows.

<table cellpadding="0" cellspacing="0" style="width: 80%; border-collapse: collapse; font-size: 10pt; border-color: #000000; margin-left: auto; margin-right: auto;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">June 30, 2026</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">December 31, 2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Vehicle</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; background-color: #e6efff; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">111,643</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; background-color: #e6efff; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">51,149</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;">Aircraft improvements</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">79,529</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">79,529</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Engines</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">2,200,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">2,200,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;">Display aircraft</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">150,763</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">150,763</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">2,541,935</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">2,481,441</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Accumulated depreciation</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">(225,870</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">(84,464</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;">Net book value</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; border-top: 0.75pt solid #000000; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; border-top: 0.75pt solid #000000; text-align: right; width: 10%;">2,316,065</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double transparent; border-top: 0.75pt solid transparent; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">2,396,977</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> </table>

111643

51149

79529

2200000

150763

2541935

2481441

225870

84464

2316065

2396977

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center;"> </td> <td colspan="4" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Three months ended June 30,</td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: center; white-space: nowrap;"> </td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td colspan="4" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Six months ended June 30,</td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2026</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2026</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 48%;">Depreciation expense</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">99,364</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">5,081</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">187,952</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">10,161</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div>

99364

5081

187952

10161

<div> 5. PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consist of the following: <div> <table cellpadding="0" cellspacing="0" style="width: 70%; border-collapse: collapse; font-size: 10pt; border-color: #000000; margin-left: auto; margin-right: auto;"> <tr> <td style="vertical-align: bottom; text-align: right; width: 40%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 27%;">June 30, 2026</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 27%;">December 31, 2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 40%; padding-right: 5.4pt; padding-left: 5.4pt;">Prepaid expenses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 27%;">4,747,952</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 27%;">171,909</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: right; width: 40%; padding-right: 5.4pt; padding-left: 5.4pt;">Other current assets</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 27%;">163,626</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 27%;">58,779</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 40%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff; width: 27%;">4,911,578</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; border-bottom: 2.25pt double transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff; width: 27%;">230,688</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; border-bottom: 2.25pt double #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div> </div>

<div> <table cellpadding="0" cellspacing="0" style="width: 70%; border-collapse: collapse; font-size: 10pt; border-color: #000000; margin-left: auto; margin-right: auto;"> <tr> <td style="vertical-align: bottom; text-align: right; width: 40%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 27%;">June 30, 2026</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 27%;">December 31, 2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 40%; padding-right: 5.4pt; padding-left: 5.4pt;">Prepaid expenses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 27%;">4,747,952</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 27%;">171,909</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: right; width: 40%; padding-right: 5.4pt; padding-left: 5.4pt;">Other current assets</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 27%;">163,626</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 27%;">58,779</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 40%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff; width: 27%;">4,911,578</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; border-bottom: 2.25pt double transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff; width: 27%;">230,688</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; border-bottom: 2.25pt double #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div>

4747952

171909

163626

58779

4911578

230688

200000000

0.00001

5223879

3.35

17499995

1267000

93015

<div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; width: 48%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 10%;"> Number of warrants </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;"> Weighted average exercise price </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 10%;"> Weighted average remaining life in years </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 10%;"> Aggregate intrinsic value </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 48%;">Outstanding, January 1, 2026</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">6,346,420</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">0.39</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;"> 2.73 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">71,478,245</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; width: 48%;">Exercised</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(3,722,500</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.33</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; width: 48%;">Outstanding, June 30, 2026</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">2,623,920</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">0.47</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;"> 2.26 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">12,730,132</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; width: 48%;">Exercisable, June 30, 2026</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%;">2,623,920</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%;">0.47</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%;"> 2.26 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%;">12,730,132</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div>

6346420

0.39

P2Y8M23D

71478245 3722500 0.33

2623920

0.47

P2Y3M3D

12730132 2623920 0.47 P2Y3M3D 12730132

<div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: justify; width: 48%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;"> Number of options </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 10%;"> Weighted average exercise price </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 10%;"> Weighted average remaining life in years </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 10%;"> Aggregate intrinsic value </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 48%;">Outstanding, January 1, 2026</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">2,415,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">3.59</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;"> 4.63 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">19,464,900</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;">Granted</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">270,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">4.18</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; width: 48%;">Forfeited</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">(1,390,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">3.59</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; width: 48%;">Outstanding, June 30, 2026</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">1,295,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">3.71</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;"> 4.31 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">2,081,050</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; width: 48%;">Exercisable, June 30, 2026</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">1,025,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">3.59</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;"> 4.13 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">1,773,250</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div>

2415000

3.59

P4Y7M17D

19464900

270000

4.18

1390000

3.59

1295000

3.71

P4Y3M21D

2081050

1025000

3.59

P4Y1M17D

1773250

270000

4.18

The stock options have a vesting cadence of 25% upon 12 months from the date of grant, and the remainder vesting in equal monthly amounts over the next 24 months from the vesting of the initial 25%.

-99524

1390000

-1081160

658971 P2Y11M26D

454238

99524

661991

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">June 25, 2026</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff; padding-left: 5.4pt;">Expected volatility</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 22%; background-color: #e6efff;">75.91%</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; padding-left: 5.4pt;">Expected term (years)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 22%;"> 3.39 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff; padding-left: 5.4pt;">Risk-free interest rate</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 22%; background-color: #e6efff;">4.12%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: justify; padding-left: 5.4pt;">Dividend yield</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 22%;">0%</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div>

0.7591

P3Y4M20D

0.0412

<div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; border-color: #000000; font-size: 10pt; width: 80%;"> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> Number of RSUs </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 5pt;">Unvested, January 1, 2026</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">2,170,750</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 5pt;">Granted</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">375,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 5pt;">Settled</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;">(2,295,749</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 5pt;">Unvested, June 30, 2026</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">250,001</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div>

2170750

375000

2295749

250001

375000

4.38

2213740

4564276

1095000

P1Y11M26D

7. FAIR VALUE MEASUREMENTS ASC 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy for instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company's own assumptions (unobservable inputs). Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company's assumptions about the inputs that market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. ASC 820 identifies fair value as the exchange price, or exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As a basis for considering market participant assumptions in fair value measurements, ASC 820 establishes a three-tier fair value hierarchy that distinguishes between the following, based on the nature of the valuation inputs: <ul style="padding-left: 0pt; list-style-type: disc;"> <li style="margin-left: 10pt; padding-left: 8.4pt; text-align: justify;">Level 1: quoted prices (unadjusted) for identical assets or liabilities in active markets;</li> <li style="margin-left: 10pt; padding-left: 8.4pt; text-align: justify;">Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and,</li> <li style="margin-left: 10pt; padding-left: 8.4pt; text-align: justify;">Level 3: one or more significant inputs used in a valuation technique are unobservable in determining fair values of the asset or liability. For example, inputs derived through extrapolation or interpolation that cannot be corroborated by observable market data.</li> </ul> The following table presents the placement in the fair value hierarchy of the Company's assets and liabilities measured at fair value on a recurring and nonrecurring basis as of June 30, 2026 and December 31, 2025. Assets and liabilities that are measured at fair value on a nonrecurring basis relate primarily to tangible property and equipment, and right-of-use assets, which are remeasured when the derived fair value is below carrying value in the consolidated balance sheets. Recoverability is based on estimated undiscounted cash flows or other relevant observable/unobservable measures. For these assets, the Company does not periodically adjust carrying value to fair value except in the event of impairment. If it is determined that impairment has occurred, the carrying value of the asset is reduced to fair value, and the difference is charged to the condensed consolidated interim statements of operations. Fair value measurements discussed herein are based upon certain market assumptions and pertinent information available to management as of and during the six months ended June 30, 2026. The carrying amounts of cash, restricted cash, and accounts payable and accrued liabilities approximated their fair values as of June 30, 2026 due to their short-term nature. The carrying amounts of due from related party and related party notes payable approximated their fair values as of December 31, 2025 due to their short-term nature. <div style="margin-left: 0px;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right;"> </td> <td colspan="1" style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td colspan="7" style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Fair value measurement at reporting date using</td> <td colspan="1" style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Balance</td> <td style="vertical-align: bottom; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Quoted prices in active markets for identical assets (Level 1)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Significant other observable inputs (Level 2)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Significant unobservable inputs (Level 3)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">As of June 30, 2026:</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Recurring fair value measurements</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Debt securities:</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 17.6pt; vertical-align: bottom;">Short-term investments</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%;">21,730,346</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%;">21,730,346</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 17.6pt; vertical-align: bottom; background-color: #e6efff;">Investments - restricted</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">508,229</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">508,229</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Total debt securities</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">22,238,575</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">22,238,575</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Total recurring fair value measurements</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%; background-color: #e6efff;">22,238,575</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%; background-color: #e6efff;">22,238,575</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">As of December 31, 2025:</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Recurring fair value measurements</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Debt securities:</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Short-term investments</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">15,274,175</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">15,274,175</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> <div style="margin-top: 0px; margin-bottom: 0px;"> </div> <div style="margin-left: 0px;"> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Total debt securities</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; padding-left: 5pt; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">15,274,175</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">15,274,175</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Total recurring fair value measurements</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">15,274,175</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">15,274,175</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 1%; padding-left: 5pt; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Nonrecurring fair value measurements</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 17.6pt; vertical-align: bottom; background-color: #e6efff;">Right of use assets - operating lease</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; padding-left: 5pt; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">323,983</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">323,983</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Total nonrecurring fair value measurements</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">323,983</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">323,983</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> As of June 30, 2026, certain investments with maturity within the next 12 months are reported as restricted due to restrictions placed by Flagship Bank on the Company's accounts as a result of ongoing dispute with the former CEO and Director of the Company (Note 11).

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right;"> </td> <td colspan="1" style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td colspan="7" style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Fair value measurement at reporting date using</td> <td colspan="1" style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Balance</td> <td style="vertical-align: bottom; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Quoted prices in active markets for identical assets (Level 1)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Significant other observable inputs (Level 2)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Significant unobservable inputs (Level 3)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">As of June 30, 2026:</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Recurring fair value measurements</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Debt securities:</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 17.6pt; vertical-align: bottom;">Short-term investments</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%;">21,730,346</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%;">21,730,346</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 17.6pt; vertical-align: bottom; background-color: #e6efff;">Investments - restricted</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">508,229</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">508,229</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Total debt securities</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">22,238,575</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">22,238,575</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Total recurring fair value measurements</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%; background-color: #e6efff;">22,238,575</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%; background-color: #e6efff;">22,238,575</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">As of December 31, 2025:</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Recurring fair value measurements</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Debt securities:</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Short-term investments</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">15,274,175</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">15,274,175</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Total debt securities</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; padding-left: 5pt; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">15,274,175</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">15,274,175</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Total recurring fair value measurements</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">15,274,175</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">15,274,175</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 1%; padding-left: 5pt; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: right; width: 10%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Nonrecurring fair value measurements</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 17.6pt; vertical-align: bottom; background-color: #e6efff;">Right of use assets - operating lease</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; padding-left: 5pt; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">323,983</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">323,983</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Total nonrecurring fair value measurements</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">323,983</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">323,983</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div>

21730346

508229

22238575

15274175

323983

6833

865000

185976

865000

475150

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center;"> </td> <td colspan="4" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Three months ended June 30,</td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: center; white-space: nowrap;"> </td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td colspan="4" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Six months ended June 30,</td> <td colspan="1" style="vertical-align: bottom; text-align: center; border-top: 0.75pt solid #000000;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2026</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2026</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 48%;">Selling, general and administrative</td> <td style="vertical-align: bottom; background-color: #e6efff; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">72,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">179,097</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">218,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">371,703</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div>

72000

179097

218000

371703

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center;"> </td> <td colspan="4" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Three months ended June 30,</td> <td colspan="1" style="vertical-align: bottom; text-align: center; white-space: nowrap;"> </td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td colspan="4" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Six months ended June 30,</td> <td colspan="1" style="vertical-align: bottom; text-align: center; white-space: nowrap; border-top: 0.75pt solid #000000;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2026</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2026</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 48%;">Former CEO and Director(1)</td> <td style="vertical-align: bottom; background-color: #e6efff; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">85,097</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; background-color: #e6efff; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">50,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">160,097</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;">CEO, VP of Development, and Director(2)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">27,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">24,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">54,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">48,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 48%;">CFO(3)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">45,000</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">45,000</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">90,000</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">90,000</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">72,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">154,097</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; border-bottom: 2.25pt double transparent; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">194,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">298,097</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div>

85097

50000

160097

27000

24000

54000

48000

45000

90000

72000

154097

194000

298097

25000

8000

128

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center;"> </td> <td colspan="4" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Three months ended June 30,</td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: center; white-space: nowrap;"> </td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td colspan="4" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Six months ended June 30,</td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2026</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2026</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 48%;">Spouse of former CEO and Director(1)</td> <td style="vertical-align: bottom; background-color: #e6efff; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">18,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; background-color: #e6efff; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">12,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">36,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;">Other family members of former CEO and Director (2)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">7,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">12,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">27,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 48%;">Former directors(1)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">10,606</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">25,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; border-bottom: 2.25pt double transparent; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">24,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">73,606</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> 0 18000 12000 36000 0 7000 12000 27000 0 0 0 10606 0 25000 24000 73606

<div> 9. LOSS PER SHARE Basic earnings (loss) per share ("EPS") is calculated by dividing profit or loss attributable to ordinary equity holders (numerator) by the weighted average number of ordinary shares outstanding (denominator) during the period. The denominator is calculated by adjusting the shares issued at the beginning of the period by the number of shares bought back during the period, multiplied by a time-weighting factor. Diluted EPS is calculated by adjusting the earnings and number of shares for the effects of dilutive options and other dilutive potential units. The effects of anti-dilutive options and potential units are ignored in calculating diluted EPS. All options and potential units are considered anti-dilutive when the Company is in a loss position. <div> </div> The Company has the following anti-dilutive securities for the three and six months ended June 30, 2026 and 2025: <div> <div> <table cellpadding="0" cellspacing="0" style="width: 80%; border-collapse: collapse; font-size: 10pt; border-color: #000000; margin-left: auto; margin-right: auto;"> <tr> <td style="vertical-align: bottom; text-align: right; width: 318px;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 27%;">June 30, 2026</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 27%;">June 30, 2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; padding-right: 5.4pt; padding-left: 5.4pt;">Warrants</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 27%;">2,623,920</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 27%;">18,199,074</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt;">Options</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 27%;">1,295,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 27%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; padding-right: 5.4pt; padding-left: 5.4pt;">Restricted Share Units</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 27%;">250,001</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 27%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: right; width: 318px;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 27%;">4,168,921</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; border-bottom: 2.25pt double transparent; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 27%;">18,199,074</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> As of June 30, 2026, 124,999 Restricted Share Units have vested but were issued subsequent to June 30, 2026 (Notes 6 and 14), and are included in the weighted average number of ordinary shares outstanding for the purposes of EPS calculation. As of June 30, 2025, due to the terms of the conversion option for the Note Payable and Convertible Debentures, the Company could not predict the anti-dilutive shares for these instruments, and as such, they were excluded from the above table. </div>

<div> <div> <table cellpadding="0" cellspacing="0" style="width: 80%; border-collapse: collapse; font-size: 10pt; border-color: #000000; margin-left: auto; margin-right: auto;"> <tr> <td style="vertical-align: bottom; text-align: right; width: 318px;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 27%;">June 30, 2026</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 27%;">June 30, 2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; padding-right: 5.4pt; padding-left: 5.4pt;">Warrants</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 27%;">2,623,920</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 27%;">18,199,074</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt;">Options</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 27%;">1,295,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 27%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; padding-right: 5.4pt; padding-left: 5.4pt;">Restricted Share Units</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 27%;">250,001</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 27%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: right; width: 318px;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 27%;">4,168,921</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; border-bottom: 2.25pt double transparent; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 27%;">18,199,074</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div>

2623920

18199074

1295000

250001

4168921

18199074

124999

55605 111210 24000 64000 0 0 37011 37011 413000 49500 48000 101011 719967 354967 5000000

5000000

2500000

20000000

5150000 5150000

26000000

500000 1395869

19502

5788 1921159 1526126 395033 5150000 5150000

610000

684757

508229

211119

255479

376125

255479

<div> <div> <div> Unaudited condensed consolidated interim statement of operations for the three months ended June 30, 2025 <div style="margin-left: 0px;"> <table cellpadding="0" cellspacing="0" style="width: 80%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Selling, administrative and general(*)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">1,614,680</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">376,125</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">1,990,805</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Research and development expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">441,992</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">186,513</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Operating loss</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">2,056,672</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">120,646</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">2,177,318</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Net loss</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,813,781</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">120,646</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,934,427</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Loss per share</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">0.09</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">0.09</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> (*) Conformed to current presentation (Note 3) </div> </div> <div style="margin-top: 13.3333px; margin-bottom: 0px;"> </div> <div> Unaudited condensed consolidated interim statement of operations for the six months ended June 30, 2025 <div style="margin-left: 0px;"> <table cellpadding="0" cellspacing="0" style="width: 80%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Selling, administrative and general(*)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">3,238,754</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">376,125</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">3,614,879</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Operating loss</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">3,680,746</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">4,056,871</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Net loss</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">4,211,409</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">4,587,534</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Loss per share</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.21</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.02</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.23</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> </table> </div> (*) Conformed to current presentation (Note 3) </div> </div>

1614680

376125

1990805

441992

-255479

186513

2056672

120646

2177318

-1813781

-120646

-1934427

-0.09

3238754

376125

3614879

3680746

376125

4056871

-4211409

-376125

-4587534

-0.21

-0.02

-0.23

Unaudited condensed consolidated interim balance sheet as of June 30, 2025 <div style="margin-left: 0px;"> <table cellpadding="0" cellspacing="0" style="width: 80%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Accounts payable and accrued liabilities</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">661,401</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">376,125</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">1,037,526</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total current liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">16,879,073</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">17,255,198</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">16,988,849</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">17,364,974</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Accumulated deficit</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(21,098,224</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(21,474,349</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total stockholders' equity (deficit)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(3,565,520</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(3,941,645</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> </table> </div>

661401

376125

1037526

16879073

376125

17255198

16988849

376125

17364974

-21098224

-376125

-21474349

-3565520

-376125

-3941645

Unaudited condensed consolidated interim statement of cash flows for the six months ended June 30, 2025 <div style="margin-left: 0px;"> <table cellpadding="0" cellspacing="0" style="width: 80%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Net loss for the year</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">(4,211,409</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">(376,125</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">(4,587,534</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Changes in non-cash working capital: Accounts payable and accrued liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(70,355</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">305,770</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Net cash used in operating activities</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(3,488,588</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(3,488,588</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> </table> </div>

-4211409

-376125

-4587534

-70355

376125

305770

-3488588

Unaudited condensed consolidated interim statement of changes in stockholders' equity (deficit) for the six months ended June 30, 2025 <div style="margin-left: 0px;"> <table cellpadding="0" cellspacing="0" style="width: 80%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify; white-space: nowrap;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Accumulated deficit</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(21,098,224</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(21,474,349</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total stockholders' equity (deficit)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(3,565,520</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(3,941,645</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> </table> </div>

-21098224

-376125

-21474349

-3565520

-376125

-3941645

-1934427

-4587534

-0.09

-0.23

32532280

28386884

<div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center;"> </td> <td colspan="4" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Three months ended June 30,</td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: center; white-space: nowrap;"> </td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td colspan="4" style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Six months ended June 30,</td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid black; text-align: center;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2026</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 10%;"> 2025 (as revised) </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">2026</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 10%;"> 2025 (as revised) </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid black; text-align: center; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 48%;">Selling, general and administrative</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 48%; padding-right: 5.4pt; padding-left: 14.1pt;">Consulting fees</td> <td style="vertical-align: bottom; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,224,644</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%;">375,610</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%;">2,349,506</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%;">765,960</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; background-color: #e6efff; width: 48%; padding-right: 5.4pt; padding-left: 14.1pt;">Marketing</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">1,242,018</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">14,853</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">1,750,480</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">96,026</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 48%; padding-right: 5.4pt; padding-left: 14.1pt;">Professional fees</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,084,592</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">138,729</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,509,486</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">262,143</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; background-color: #e6efff; width: 48%; padding-right: 5.4pt; padding-left: 14.1pt;">Personnel costs</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">917,869</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">917,869</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 48%; padding-right: 5.4pt; padding-left: 14.1pt;">Management compensation(1)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">673,162</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">154,097</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,232,680</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">298,097</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; background-color: #e6efff; width: 48%; padding-right: 5.4pt; padding-left: 14.1pt;">Contract labour, fuel, vehicle and maintenance</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">402,131</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">176,923</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">735,740</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">369,967</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 48%; padding-right: 5.4pt; padding-left: 14.1pt;">Insurance</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">234,800</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">22,641</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">440,554</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">43,798</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; background-color: #e6efff; width: 48%; padding-right: 5.4pt; padding-left: 14.1pt;">Public company, franchise and license fees</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">131,715</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">37,553</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">374,933</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">41,052</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 48%; padding-right: 5.4pt; padding-left: 14.1pt;">Business development</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">102,089</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">582,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">246,104</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">762,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; background-color: #e6efff; padding-right: 5.4pt; padding-left: 14.1pt; width: 48%;">Other selling, general and administrative items(2)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">435,218</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">488,274</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">866,078</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">975,711</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid black; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;">Total selling, general and administrative</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;">(6,448,238</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;">(1,990,805</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;">(10,423,430</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;">(3,614,879</td> <td style="vertical-align: bottom; border-top: 0.75pt solid transparent; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 48%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;">Research and development</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(1,918</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(186,513</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(85,181</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(441,992</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 48%;">Amortization of debt discount</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">(121,914</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">(238,981</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;">Change in fair value of derivative liability</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">155,899</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(548,763</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 48%;">Loss to misappropriation of assets</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">(395,033</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;">Impairment of aircraft deposits</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(5,150,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(5,150,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 48%;">Other segment items(3)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">141,949</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">208,906</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid transparent; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">326,306</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">257,081</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid black; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 48%;">Net loss </td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">(11,458,207</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">(1,934,427</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double transparent; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; width: 1%; text-align: right;">$</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">(15,727,338</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">(4,587,534</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 2.25pt double #000000;">)</td> </tr> </table> </div> </div>

1224644 375610 2349506 765960

1242018

14853

1750480

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<div> <div> 14. SUBSEQUENT EVENTS On July 7, 2026, the Company issued 124,999 Common Shares for the settlement of 124,999 RSUs (Note 6) vested upon grant on June 25, 2026. </div> </div>

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1. NATURE OF OPERATIONS Starfighters Space Inc. ("SFS" or the "Company") was incorporated on September 6, 2022, under the laws of the State of Delaware. On December 18, 2025, the Company successfully closed their initial public offering and the Company's common shares are now traded on the NYSE American LLC (the "NYSE American") under the trading symbol "FJET". The Company's registered office is held at 850 New Burton Road, Suite 201, Dover, DE 19904. The Company's principal operating facility is located in Cape Canaveral, Florida. The Company operates from the NASA Kennedy Space Center in Florida, with an additional base of operations at Midland International Air & Space Port in Texas, and has a fleet of seven F-104 Fighter jets that are capable of flying MACH 2+. The Company is currently in the process of gaining a launch waiver and license for its first space launch to launch rockets carrying payloads for data testing from their jets into suborbital space. Upon successful suborbital space flight, the Company intends to develop infrastructure for orbital space launch. The Company has not yet commenced its principal operations as of December 31, 2025. Risks and Uncertainties Disruption of global financial markets and a recession or market correction, including the ongoing military conflicts between Russia and Ukraine and the related sanctions imposed against Russia as well as the escalating geopolitical tensions in the Middle East, the significant tariffs imposed by the United States on imports from other countries and other global macroeconomic factors such as inflation and rising interest rates, could reduce the Company's ability to access capital, which could in the future negatively affect the Company's liquidity and could materially affect the Company's business and the value of its common stock.

2. BASIS OF PRESENTATION a) Basis of presentation The accompanying consolidated financial statements include the accounts of Starfighters Space Inc. and its wholly owned subsidiaries, and are presented using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). All intercompany accounts and transactions have been eliminated in consolidation. References to the "ASC" hereafter refer to the Accounting Standards Codification established by the Financial Accounting Standards Board ("FASB") as the source of authoritative U.S. GAAP. As of December 31, 2025, the Company's subsidiaries were: <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Name of subsidiary</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Place of incorporation</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Incorporated</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Ownership</td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; background-color: #e6efff; border-top: 0.75pt solid #000000;">Starfighters International, Inc. (Florida)</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; background-color: #e6efff; border-top: 0.75pt solid #000000; text-align: justify;">Florida, the United States</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; background-color: #e6efff; border-top: 0.75pt solid #000000; text-align: justify;">December 3, 2018</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; background-color: #e6efff; border-top: 0.75pt solid #000000; text-align: justify;">100%</td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top;">Starfighters, Inc.</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; text-align: justify;">Florida, the United States</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; text-align: justify;">November 16, 1995</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; text-align: justify;">100%</td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; background-color: #e6efff; border-bottom: 0.75pt solid #000000; text-align: justify;">Starfighters International, Inc. (Texas)</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; background-color: #e6efff; border-bottom: 0.75pt solid #000000; text-align: justify;">Texas, the United States</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; background-color: #e6efff; border-bottom: 0.75pt solid #000000; text-align: justify;">March 29, 2024</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; background-color: #e6efff; border-bottom: 0.75pt solid #000000; text-align: justify;">100%</td> </tr> </table> </div> b) Going concern The consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. During the years ended December 31, 2025 and 2024, the Company recorded a net loss of $16,543,616 and $7,908,777, respectively. As of December 31, 2025 and December 31, 2024, the Company had a deficit of $33,430,431 and $16,886,815, respectively. <div> </div> These factors raise substantial doubt about the Company's ability to continue as a going concern within one year after the date of the consolidated financial statements being issued. The ability of the Company to continue as a going concern is dependent upon the Company's ability to raise additional funds and implement its business plan. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Such adjustments could be material. As of December 31, 2025, the Company had cash in the amount of $4,581,128 (December 31, 2024 - $7,050,610). The continuation of the Company as a going concern is dependent upon its ability to obtain necessary debt or equity financing to continue operations until it begins generating positive cash flow. No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, it may contain undue restrictions on our operations, in the case of debt financing, or cause substantial dilution for our stockholders, in the case or equity financing. c) Functional and presentation currencies The consolidated financial statements of the Company are presented in United States dollars. The functional currency of the Company and its subsidiaries is the United States dollar. d) Emerging growth company The Company is an "Emerging Growth Company", as defined in Section 2(a) of the Securities Act of 1933, as amended (the "Securities Act"), as modified by the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"), and it has taken advantage of certain exemptions that are not applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b) (1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial reporting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public and private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. e) Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires the Company's management to make judgments, estimates and assumptions about future events that impact the amounts reported in the consolidated financial statements. Actual results may differ from these estimates.

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Name of subsidiary</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Place of incorporation</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Incorporated</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Ownership</td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; background-color: #e6efff; border-top: 0.75pt solid #000000;">Starfighters International, Inc. (Florida)</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; background-color: #e6efff; border-top: 0.75pt solid #000000; text-align: justify;">Florida, the United States</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; background-color: #e6efff; border-top: 0.75pt solid #000000; text-align: justify;">December 3, 2018</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; background-color: #e6efff; border-top: 0.75pt solid #000000; text-align: justify;">100%</td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top;">Starfighters, Inc.</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; text-align: justify;">Florida, the United States</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; text-align: justify;">November 16, 1995</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; text-align: justify;">100%</td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; background-color: #e6efff; border-bottom: 0.75pt solid #000000; text-align: justify;">Starfighters International, Inc. (Texas)</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; background-color: #e6efff; border-bottom: 0.75pt solid #000000; text-align: justify;">Texas, the United States</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; background-color: #e6efff; border-bottom: 0.75pt solid #000000; text-align: justify;">March 29, 2024</td> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: top; background-color: #e6efff; border-bottom: 0.75pt solid #000000; text-align: justify;">100%</td> </tr> </table> </div>

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3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a) Cash and cash equivalents Cash and cash equivalents include cash on hand, deposits held with banks, and when applicable, short-term, highly liquid deposits which are either cashable or with original maturities of less than three months. The Company did not hold any cash equivalents as of December 31, 2025 or 2024. At times, the Company's cash balance exceeds the federally insured limits. The total uninsured cash and cash equivalents balance as of December 31, 2025 was $3,813,329 (December 31, 2024 - $6,350,699). b) Restricted cash Restricted cash are deposits held with banks that are held as collateral for the corporate credit cards of the Company. As of December 31, 2025 and 2024, the Company had restricted cash of $50,592 and $50,089, respectively. c) Short-term investments The Company's short-term investments are treasury notes and certificates of deposit with original maturities greater than 3 months and less than one year. The certificate of deposit held by the Company as of December 31, 2024 matured in 2025. The certificate of deposit had an interest rate of 4.163%. The Company does not hold a certificate of deposit as of December 31, 2025. The treasury notes held by the Company as of December 31, 2025 matures in 2026. The treasury notes have interest rates ranging from 3.429% to 3.666%. The Company did not hold treasury notes as of December 31, 2024. The short-term investments are level 1 investments in the fair value hierarchy. These securities are presented on the consolidated balance sheets at fair value. Earnings from these securities are included in interest income on the consolidated statements of operations. For the year ended December 31, 2025 and 2024, the Company recorded a gain on short-term investments of $70,575 and $12,355, respectively. d) Receivables and Allowance for Credit Losses Receivables are carried at original invoice amount, less any estimate made for credit losses. The allowance for credit losses is the Company's best estimate of the amount of expected credit losses in the Company's existing receivables over the contractual term. We evaluate our exposure to credit loss on both a collective and individual basis. We evaluate such receivables on an individual customer basis and take into account any relevant available information, which begins with historical credit loss experience and consideration of current and expected conditions and market trends (such as general economic conditions, other microeconomic and macroeconomic considerations, etc.) and reasonable and supportable forecasts that could impact the collectability of such receivables over the contractual term individually or in the aggregate. Changes in circumstances relating to these factors may result in the need to increase or decrease our allowance for credit losses in the future. The allowance for credit losses was $0 and $0 as of December 31, 2025 and December 31, 2024, respectively. <div> e) Property, plant, and equipment Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is computed using the double-declining method for vehicles, and straight-line method for remaining classes of property and equipment, over the estimated useful lives of the respective assets. Depreciable assets retired or sold are removed from the accounts and any resulting gain or loss is reflected in income for the period. Major replacements or betterments are capitalized while maintenance and repairs are expensed as incurred. The estimated useful lives of the classes of property and equipment are as follows: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;">Vehicles</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right; background-color: #e6efff;"> 5 years </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Display Airplane</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right;"> 5 years </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;">Aircraft improvements</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right; background-color: #e6efff;"> 6 years </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;">Engines</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right;"> 7 years </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> </table> </div> <div style="margin-top: 0pt; margin-bottom: 0pt;"> </div> f) Long-term deposits Long-term deposits are comprised entirely of deposits paid in advance for property and equipment, where control of the assets have not yet transferred to the Company. g) Leases The Company adopted ASC 842, Leases, as amended, on January 1, 2020 ("ASC 842"). The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed the Company not to separate non-lease components from lease components and instead to account for each separate lease component and the non-lease components associated with that lease component as a single lease. The Company determines if an arrangement contains a lease at inception as defined by ASC 842. To meet the definition of a lease under ASC 842, the contractual arrangement must convey to the Company the right to control the use of an identifiable asset for a period of time in exchange for consideration. Right of Use ("ROU") assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. h) Impairment of long-lived assets Long-lived assets or asset groups held and used by the Company are reviewed for possible impairment whenever events or circumstances indicate the carrying amount of an asset may not be recoverable or is impaired. Circumstances that could trigger a review include, but are not limited to: significant decreases in the market price of the assets; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the assets; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the assets; and current expectation that the assets will more likely than not be sold or disposed significantly before the end of their estimated useful life. When indicators of potential impairment are present the Company prepares a projected undiscounted cash flow analysis for the respective asset or asset group. If the sum of the undiscounted cash flows is less than the carrying value of the asset or asset group, an impairment loss is recognized equal to the excess of the carrying value over the fair value, if any. Fair value can be determined using discounted cash flows of future operating results based upon a rate that corresponds to the cost of capital. Recognized impairment losses are not reversed. There were no impairments noted during the years ended December 31, 2025 or 2024. i) Financial instruments measurements and fair value of financial instruments A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial instruments are accounted for in accordance with ASC 320, ASC 825 and ASC 815, as applicable. The Company's short-term investments are classified as trading securities and are measured at fair value, with unrealized gains and losses recognized in earnings. Financial instruments, including cash, restricted cash, due from related party, accounts payable and accrued liabilities, and related party notes payable, are carried at their carrying values, which approximate fair value due to the short-term nature of these instruments. <div style="margin-top: 0pt; margin-bottom: 0pt;"> </div> Derivative liabilities are measured at fair value on a recurring basis, with changes in fair value recognized in earnings. Financial assets are derecognized when the rights to receive cash flows from the assets have expired or have been transferred, and the Company has transferred all risks and rewards of ownership. Financial liabilities are derecognized when the obligations specified in the contract are discharged, cancelled, or expire. ASC 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy for instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company's own assumptions (unobservable inputs). Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company's assumptions about the inputs that market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. ASC 820 identifies fair value as the exchange price, or exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As a basis for considering market participant assumptions in fair value measurements, ASC 820 establishes a three-tier fair value hierarchy that distinguishes between the following, based on the nature of the valuation inputs: <ul style="padding-left: 0pt; list-style-type: disc;"> <li style="margin-left: 27.6pt; padding-left: 8.4pt; text-align: justify;">Level 1: quoted prices (unadjusted) for identical assets or liabilities in active markets;</li> <li style="margin-left: 27.6pt; padding-left: 8.4pt; text-align: justify;">Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and,</li> <li style="margin-left: 27.6pt; padding-left: 8.4pt; text-align: justify;">Level 3: one or more significant inputs used in a valuation technique are unobservable in determining fair values of the asset or liability.</li> </ul> Determination of fair value and the resulting hierarchy requires the use of observable market data where available. The classification of an asset or liability in the hierarchy is based on the lowest level of input that is significant to the fair value measurement. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. The Company determined that the derivative liability relating to the embedded conversion feature in the convertible notes is a Level 3 liability. See Note 6 for the significant inputs used and for a roll-forward of the Level 3 liability. j) Derivative Liabilities The Company evaluates its financial instruments and other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC 815. The result of this accounting treatment is that the fair value of the embedded derivative is marked-to-market at each balance sheet date and recorded as a liability and the change in fair value is recorded in the consolidated statements of operations. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is reassessed at the end of each reporting period. Derivative instruments that become subject to reclassification are reclassified at the fair value of the instrument on the reclassification date. Derivative instrument liabilities will be classified in the consolidated balance sheet as current or non-current based on whether or not settlement of the derivative instrument is expected within 12 months of the consolidated balance sheet date. <div style="margin-top: 0pt; margin-bottom: 0pt;"> </div> The Company uses the Monte Carlo simulation model to value derivative liabilities. This model uses Level 3 inputs in the fair value hierarchy established by ASC 820, Fair Value Measurement. The significant inputs and assumptions to the Monte Carlo simulation model are disclosed in Note 6. k) Warrant instruments The Company accounts for Warrants issued in accordance with the guidance contained in FASB ASC 815, Derivatives and Hedging. Under ASC 815-40, the Warrants meet the criteria for equity treatment and as such will be recorded in stockholders' equity (deficit). If the Warrants and no longer meet the criteria for equity treatment, they will be recorded as a liability and remeasured each period with changes recorded in the statement of operations. l) Deferred offering costs Deferred offering costs consist of specific incremental underwriting, legal and other expenses that are directly attributable to the Company's Regulation A Tier 2 Offering and initial public offering, and are incurred prior to the completion of an offering. The Company capitalizes such deferred offering costs in accordance with ASC 340, Other Assets and Deferred Costs. Upon completion of an offering, such deferred offering costs are recorded as a reduction of gross proceeds of offerings within stockholders' equity (deficit). Costs associated with an aborted offering are not deferred and are expensed as incurred. m) Related parties Related parties, which can be a corporation or individual, are considered to be related if either the Company or the other party have the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Companies are also considered to be related if they are subject to common control or significant influence. n) Income taxes The Company's tax provision consists of taxes currently payable or receivable, plus any change during the period in deferred tax assets and liabilities. The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settles. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that is it more likely than not that some portion of the deferred tax asset will not be realized. During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. Accounting for income taxes requires a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if available evidence indicates it is more likely than not that the tax position will be fully sustained upon review by taxing authorities, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount with a greater than 50 percent likelihood of being realized upon ultimate settlement. For tax positions that are 50 percent or less likely of being sustained upon audit, the Company does not recognize any portion of that benefit in the financial statements. The Company is not aware of any issues under review that could result in significant payments, accruals or a material deviation from its position. <div style="margin-top: 0pt; margin-bottom: 0pt;"> </div> o) Loss per share Basic earnings (loss) per share ("EPS") is calculated by dividing profit or loss attributable to ordinary equity holders (numerator) by the weighted average number of ordinary shares outstanding (denominator) during the period. The denominator is calculated by adjusting the shares issued at the beginning of the period by the number of shares bought back during the period, multiplied by a time-weighting factor. Diluted EPS is calculated by adjusting the earnings and number of shares for the effects of dilutive options and other dilutive potential units. The effects of anti-dilutive options and potential units are ignored in calculating diluted EPS. All options and potential units are considered anti-dilutive when the Company is in a loss position. The Company has the following anti-dilutive securities as of December 31, 2025 and 2024: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000; margin-top: 0pt; margin-bottom: 0pt;"> <tr style="margin-top: 0pt; margin-bottom: 0pt;"> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: center; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;">2025</td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;">2024</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;"> </td> </tr> <tr style="margin-top: 0pt; margin-bottom: 0pt;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Warrants</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;">6,346,420</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;">18,174,574</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> </tr> <tr style="margin-top: 0pt; margin-bottom: 0pt;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Options</td> <td style="vertical-align: bottom; text-align: left; width: 1%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; margin-top: 0pt; margin-bottom: 0pt;">2,415,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; margin-top: 0pt; margin-bottom: 0pt;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; margin-top: 0pt; margin-bottom: 0pt;"> </td> </tr> <tr style="margin-top: 0pt; margin-bottom: 0pt;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Restricted Share Units</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;">2,170,750</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> </tr> <tr style="margin-top: 0pt; margin-bottom: 0pt;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 10%; margin-top: 0pt; margin-bottom: 0pt;">10,932,170</td> <td style="vertical-align: bottom; text-align: left; width: 2%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 10%; margin-top: 0pt; margin-bottom: 0pt;">18,174,574</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 2%; margin-top: 0pt; margin-bottom: 0pt;"> </td> </tr> </table> As of December 31, 2024, due to the terms of the conversion option for the Note Payable (Note 5) and Convertible Debentures (Note 6), the Company could not predict the anti-dilutive shares for these instruments, and as such, they were excluded from the above table. p) Other income The Company earns ancillary income from contracts with customers for pilot training and equipment testing. The income is recognized at a point in time which is upon the completion of the services, which the Company has determined is the completion of a flight. There is no variable consideration for these ancillary services. From time to time, the Company receives consideration in advance of the services being rendered; this is presented as deferred income on the consolidated balance sheets. The Company also extends credit for payments to be received for services provided; this is presented as receivables on the consolidated balance sheets. The following table summarizes the deferred income activity for the year ended December 31, 2025 and December 31, 2024: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;">Balance as of January 1, 2024</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">397,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify;">Recognition of income recorded as deferred income as of December 31, 2024</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(157,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;">Deferral of income billed during the year</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">104,800</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify;">Balance as of December 31, 2024</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;">344,800</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;">Recognition of income recorded as deferred income as of December 31, 2025</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;">(245,800</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">)</td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify;">Deferral of income billed during the year</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; border-bottom: 0.75pt solid #000000;">50,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 0.75pt solid #000000;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;">Balance as of December 31, 2025</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">149,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> </tr> </table> q) Grant income The Company receives certain cost reimbursements from an economic development corporation in Texas (Note 11). The income is recognized at a point in time when the Company completes its obligations for entitling to such reimbursements and included in grant income on the consolidated statements of operations. Amounts received by the Company that the Company is not yet entitled to, and subject to refunds, are recognized as a payable, until the Company's completion of its obligations to earn the reimbursements. <div style="margin-top: 0pt; margin-bottom: 0pt;"> </div> r) Advertising and Promotion Costs Advertising and promotion costs are expensed as incurred. Advertising and promotion expense for the years ended December 31, 2025 and 2024, were $ 1,436,875 and $183,790, respectively. s) Stock-Based Compensation The Company applies the provisions of ASC 718, Compensation-Stock Compensation ("ASC 718"), which requires the measurement and recognition of compensation expense for all stock-based awards in the consolidated statements of operations. For stock options issued, the Company estimates each option's grant-date fair value using the Black-Scholes option pricing model. The use of the Black-Scholes option pricing model requires management to make assumptions with respect to the expected term of the option, the expected volatility of the Common Stock consistent with the expected life of the option, risk-free interest rates, and expected dividend yields of the Common Stock. For awards subject to service-based vesting conditions, including those with a graded vesting schedule, the Company recognizes stock-based compensation expense equal to the grant date fair value of stock options on a straight-line basis over the requisite service period, generally the vesting term. Forfeitures are recorded as incurred instead of estimated at the time of grant and revised. t) Research and Development Research and development costs are expensed as incurred, in accordance with ASC 730, Research and Development. During the year ended December 31, 2025, all of these costs are with a single vendor who performed contracted research and testing and consumed materials in research and development activities. The Company may also incur personnel-related costs, including salaries, benefits, and stock-based compensation, where applicable. Nonrefundable advance payments for research and development activities are capitalized and expensed as the related services are performed. Research and development expense for the years ended December 31, 2025 and 2024, were $1,027,203 and $0, respectively. u) Subsequent Events The Company evaluated subsequent events through April 15, 2026, the date in which the consolidated financial statements were issued. v) Recently Adopted Accounting Pronouncements In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes: Improvements to Income Tax Disclosures." This guidance requires consistent categories and greater disaggregation of information in the rate reconciliation and disclosures of income taxes paid by jurisdiction. The Company adopted ASU 2023-09 as of January 1, 2025, which had no material impact on the Company's consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures". The amendments in ASU No. 2024-03 address investor requests for more detailed expense information and require additional disaggregated disclosures in the notes to the financial statements for certain categories of expenses that are included on the face of the financial statements. The guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is currently assessing the impact of this guidance on its disclosures. <div style="margin-top: 0pt; margin-bottom: 0pt;"> </div> In December 2025, the FASB issued ASU 2025-11, "Interim Reporting (Topic 270): Narrow-Scope Improvements". The amendments in ASU No. 2025-11 are intended to improve the clarity and usability of interim reporting guidance by reorganizing Topic 270, clarifying when interim reporting requirements apply, and consolidating interim disclosure requirements that are currently dispersed throughout the Codification. The amendments are effective for fiscal years beginning after December 15, 2027, and for interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on its interim reporting processes and disclosures. w) Segment Reporting ASC Topic No. 280, Segment Reporting ("ASC 280"), establishes standards for the way that public business enterprises report information about operating segments in their annual consolidated financial statements and requires that those enterprises report selected information about operating segments in interim financial reports. ASC 280 also establishes standards for related disclosures about products and services, geographic areas, and major customers. Operating segments are defined as components of an entity for which separate financial information is available and regularly reviewed by the Chief Operating Decision Maker ("CODM") in deciding how to allocate resources and assess performance. The Company's CODM is the Chief Executive Officer. The Company has determined that it has a single operating and reportable segment comprising all of the Company's operations, which is principally the operations of F-104 Fighter jets and development of infrastructure for orbital space launch. All of the Company's operations are attributable to the United States. The CODM receives and reviews financial information at the consolidated entity level. The Company uses one measure of performance and does not segregate the Company's business for internal reporting. The key measure of segment profit and loss that the CODM uses to allocate resources and assess performance is the Company's net loss before taxes, as presented in the Company's consolidated statement of operations. Operating results and assets are reviewed by the CODM primarily for purposes of assessing financial needs of operations, making resource allocation decisions and for evaluating financial performance. Segment assets are the same as consolidated total assets of $28,386,884 and $10,300,586, for the years ended December 31, 2025 and 2024, respectively. The table below details the Company's revenues, significant expenses, and other segment items and reconciles those amounts to the Company's consolidated net loss before taxes as computed under U.S. GAAP in the Consolidated Statements of Operations: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td colspan="4" style="vertical-align: bottom; border-top: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Year ended December 31,</td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">2024</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Revenue</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Less:</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;"> Consulting fees</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">4,263,195</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">998,364</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;"> Professional fees</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">2,521,680</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">786,338</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;"> Business development</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,841,982</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">360,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;"> Advertising and promotion</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,436,875</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">183,790</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;"> Contract labor and fuel</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,387,747</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">403,800</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;"> Research and development</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,027,203</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;"> Management fees</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">707,507</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">232,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;"> Interest expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">555,985</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">486,669</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;"> Change in fair value of derivative liability</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">970,866</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,642,697</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;"> Amortization of debt discount</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">500,937</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,777,505</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;"> Other segment items*</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,329,639</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,037,614</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Net loss before taxes</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">(16,543,616</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">(7,908,777</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;">)</td> </tr> </table> (*) Other segment items consists of travel and entertainment, rent expense, office and administrative expenses, insurance, directors' fees, franchise tax, vehicle expenses, relocation costs, listing fees, repairs and maintenance, depreciation, bank and interest charges, licenses, other income, grant income, interest income, write-off of other receivable, and exchange loss, none of which is individually significant.

3813329

6350699

50592

50089

0.04163 0.03429 0.03666

70575

12355

<div> e) Property, plant, and equipment Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is computed using the double-declining method for vehicles, and straight-line method for remaining classes of property and equipment, over the estimated useful lives of the respective assets. Depreciable assets retired or sold are removed from the accounts and any resulting gain or loss is reflected in income for the period. Major replacements or betterments are capitalized while maintenance and repairs are expensed as incurred. The estimated useful lives of the classes of property and equipment are as follows: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;">Vehicles</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right; background-color: #e6efff;"> 5 years </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Display Airplane</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right;"> 5 years </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;">Aircraft improvements</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right; background-color: #e6efff;"> 6 years </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;">Engines</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right;"> 7 years </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> </table> </div>

P5Y

P6Y

P7Y

i) Financial instruments measurements and fair value of financial instruments A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial instruments are accounted for in accordance with ASC 320, ASC 825 and ASC 815, as applicable. The Company's short-term investments are classified as trading securities and are measured at fair value, with unrealized gains and losses recognized in earnings. Financial instruments, including cash, restricted cash, due from related party, accounts payable and accrued liabilities, and related party notes payable, are carried at their carrying values, which approximate fair value due to the short-term nature of these instruments. <div style="margin-top: 0pt; margin-bottom: 0pt;"> </div> Derivative liabilities are measured at fair value on a recurring basis, with changes in fair value recognized in earnings. Financial assets are derecognized when the rights to receive cash flows from the assets have expired or have been transferred, and the Company has transferred all risks and rewards of ownership. Financial liabilities are derecognized when the obligations specified in the contract are discharged, cancelled, or expire. ASC 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy for instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company's own assumptions (unobservable inputs). Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company's assumptions about the inputs that market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. ASC 820 identifies fair value as the exchange price, or exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As a basis for considering market participant assumptions in fair value measurements, ASC 820 establishes a three-tier fair value hierarchy that distinguishes between the following, based on the nature of the valuation inputs: <ul style="padding-left: 0pt; list-style-type: disc;"> <li style="margin-left: 27.6pt; padding-left: 8.4pt; text-align: justify;">Level 1: quoted prices (unadjusted) for identical assets or liabilities in active markets;</li> <li style="margin-left: 27.6pt; padding-left: 8.4pt; text-align: justify;">Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and,</li> <li style="margin-left: 27.6pt; padding-left: 8.4pt; text-align: justify;">Level 3: one or more significant inputs used in a valuation technique are unobservable in determining fair values of the asset or liability.</li> </ul> Determination of fair value and the resulting hierarchy requires the use of observable market data where available. The classification of an asset or liability in the hierarchy is based on the lowest level of input that is significant to the fair value measurement. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. The Company determined that the derivative liability relating to the embedded conversion feature in the convertible notes is a Level 3 liability. See Note 6 for the significant inputs used and for a roll-forward of the Level 3 liability.

o) Loss per share Basic earnings (loss) per share ("EPS") is calculated by dividing profit or loss attributable to ordinary equity holders (numerator) by the weighted average number of ordinary shares outstanding (denominator) during the period. The denominator is calculated by adjusting the shares issued at the beginning of the period by the number of shares bought back during the period, multiplied by a time-weighting factor. Diluted EPS is calculated by adjusting the earnings and number of shares for the effects of dilutive options and other dilutive potential units. The effects of anti-dilutive options and potential units are ignored in calculating diluted EPS. All options and potential units are considered anti-dilutive when the Company is in a loss position. The Company has the following anti-dilutive securities as of December 31, 2025 and 2024: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000; margin-top: 0pt; margin-bottom: 0pt;"> <tr style="margin-top: 0pt; margin-bottom: 0pt;"> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: center; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;">2025</td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;">2024</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;"> </td> </tr> <tr style="margin-top: 0pt; margin-bottom: 0pt;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Warrants</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;">6,346,420</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;">18,174,574</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> </tr> <tr style="margin-top: 0pt; margin-bottom: 0pt;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Options</td> <td style="vertical-align: bottom; text-align: left; width: 1%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; margin-top: 0pt; margin-bottom: 0pt;">2,415,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; margin-top: 0pt; margin-bottom: 0pt;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; margin-top: 0pt; margin-bottom: 0pt;"> </td> </tr> <tr style="margin-top: 0pt; margin-bottom: 0pt;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Restricted Share Units</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;">2,170,750</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> </tr> <tr style="margin-top: 0pt; margin-bottom: 0pt;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 10%; margin-top: 0pt; margin-bottom: 0pt;">10,932,170</td> <td style="vertical-align: bottom; text-align: left; width: 2%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 10%; margin-top: 0pt; margin-bottom: 0pt;">18,174,574</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 2%; margin-top: 0pt; margin-bottom: 0pt;"> </td> </tr> </table> As of December 31, 2024, due to the terms of the conversion option for the Note Payable (Note 5) and Convertible Debentures (Note 6), the Company could not predict the anti-dilutive shares for these instruments, and as such, they were excluded from the above table.

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000; margin-top: 0pt; margin-bottom: 0pt;"> <tr style="margin-top: 0pt; margin-bottom: 0pt;"> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: center; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;">2025</td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;">2024</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;"> </td> </tr> <tr style="margin-top: 0pt; margin-bottom: 0pt;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Warrants</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;">6,346,420</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;">18,174,574</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> </tr> <tr style="margin-top: 0pt; margin-bottom: 0pt;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Options</td> <td style="vertical-align: bottom; text-align: left; width: 1%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; margin-top: 0pt; margin-bottom: 0pt;">2,415,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; margin-top: 0pt; margin-bottom: 0pt;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; margin-top: 0pt; margin-bottom: 0pt;"> </td> </tr> <tr style="margin-top: 0pt; margin-bottom: 0pt;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Restricted Share Units</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;">2,170,750</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> </td> </tr> <tr style="margin-top: 0pt; margin-bottom: 0pt;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 10%; margin-top: 0pt; margin-bottom: 0pt;">10,932,170</td> <td style="vertical-align: bottom; text-align: left; width: 2%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; margin-top: 0pt; margin-bottom: 0pt;"> </td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 10%; margin-top: 0pt; margin-bottom: 0pt;">18,174,574</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 2%; margin-top: 0pt; margin-bottom: 0pt;"> </td> </tr> </table>

6346420

18174574

2415000

2170750

10932170

18174574

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;">Balance as of January 1, 2024</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">397,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify;">Recognition of income recorded as deferred income as of December 31, 2024</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(157,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;">Deferral of income billed during the year</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">104,800</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify;">Balance as of December 31, 2024</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;">344,800</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;">Recognition of income recorded as deferred income as of December 31, 2025</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;">(245,800</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">)</td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify;">Deferral of income billed during the year</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; border-bottom: 0.75pt solid #000000;">50,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 0.75pt solid #000000;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;">Balance as of December 31, 2025</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">149,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> </tr> </table>

397000

157000

104800

344800

245800

50000

149000

1436875

183790

1027203

28386884

10300586

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td colspan="4" style="vertical-align: bottom; border-top: 0.75pt solid #000000; white-space: nowrap; text-align: center;">Year ended December 31,</td> <td colspan="1" style="vertical-align: bottom; border-top: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;">2024</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: center;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Revenue</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Less:</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;"> Consulting fees</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">4,263,195</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">998,364</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;"> Professional fees</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">2,521,680</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">786,338</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;"> Business development</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,841,982</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">360,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;"> Advertising and promotion</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,436,875</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">183,790</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;"> Contract labor and fuel</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,387,747</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">403,800</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;"> Research and development</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,027,203</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;"> Management fees</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">707,507</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">232,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;"> Interest expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">555,985</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">486,669</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;"> Change in fair value of derivative liability</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">970,866</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,642,697</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;"> Amortization of debt discount</td> <td style="vertical-align: bottom; text-align: left; width: 1%; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">500,937</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,777,505</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;"> Other segment items*</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; padding-left: 5pt;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,329,639</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,037,614</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Net loss before taxes</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; padding-left: 5pt;">$</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">(16,543,616</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">(7,908,777</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;">)</td> </tr> </table>

4263195

998364

2521680

786338

1841982

360000

1436875

183790

1387747 403800

1027203

707507

232000

555985

486669

-970866

-1642697

500937

1777505

1329639 1037614

-16543616

-7908777

51149

79529

2200000

150763

2481441

130678

84464

48056

2396977

82622

36408

15319

1436001

0.01

The loan is secured by a DASH-7 aircraft engine with a book value of $0.

0.03

0.08

monthly installments

13866

0.03

404312

3.59

1436001

15480

13938

41081

43161

<div> 6. CONVERTIBLE DEBENTURES The convertible debentures bear interest at 5.00% per annum, had an original maturity date of February 24, 2025, and automatically convert upon the event of an initial public offering ("IPO") at the lesser of a 40% discount of the price of the IPO and $4.00 per share. Convertible debentures entered into subsequent to the Tranche 1, which closed on February 24, 2023, receive interest from the initial issuance date of February 24, 2023 from Tranche 1. During the year ended December 31, 2023, the Company closed the secured convertible debenture financing as follows: <ul style="padding-left: 0pt;"> <li style="margin-left: 27.6pt; padding-left: 8.4pt; text-align: justify;">Tranche 1, on February 24, 2023 for gross proceeds of $4,413,400;</li> <li style="margin-left: 27.6pt; padding-left: 8.4pt; text-align: justify;">Tranche 2, on July 14, 2023 for gross proceeds of $804,100;</li> <li style="margin-left: 27.6pt; padding-left: 8.4pt; text-align: justify;">Tranche 3, on September 15, 2023 for gross proceeds of $448,000; and</li> <li style="margin-left: 27.6pt; padding-left: 8.4pt; text-align: justify;">Tranche 4, on December 28, 2023 for gross proceeds of $680,500.</li> </ul> The convertible debentures were determined to be hybrid financial instruments comprised of a debt host liability and an embedded derivative liability, as under the conversion feature the number of shares that will or may be issued to settle the notes may vary. Upon issuance, the fair value of the debt host liability was determined to be $6,346,000 and the respective embedded derivative liability was valued at $2,352,602 for tranches 1 through 4. The derivative liability conversion feature was valued first and the residual was allocated to the debt host liability. The Company uses the Monte Carlo model to determine the fair value of the embedded derivative liability based on a common stock simulation model and future projections of various potential outcomes. The Company incurred $86,506 in transaction costs for tranches 1 through 4. The fair value of the initial derivative and the transaction costs incurred were recorded as debt discount and are amortized over the life of the convertible notes using the effective interest method. During the year ended December 31, 2024, the Company closed the secured convertible debenture financing as follows: <ul style="padding-left: 0pt;"> <li style="margin-left: 27.6pt; padding-left: 8.4pt; text-align: justify;">Tranche 5, on May 14, 2024 and August 15, 2024 for gross proceeds of $743,400.</li> </ul> The convertible debentures were determined to be hybrid financial instruments comprised of a debt host liability and an embedded derivative liability, as under the conversion feature, the number of shares that will or may be issued to settle the debentures may vary. Upon issuance, the fair value of the debt host liability was determined to be $743,400 and the respective embedded derivative liability was valued at $475,909. The derivative liability conversion feature was valued first and the residual was allocated to the debt host liability. The Company uses the Monte Carlo model to determine the fair value of the embedded derivative liability based on a common stock simulation model and future projections of various potential outcomes. The Company incurred $19,950 in transaction costs. The fair value of the initial derivative and the transaction costs incurred were recorded as debt discount and are amortized over the life of the convertible notes using the effective interest method. <div style="margin-top: 0px; margin-bottom: 0px;"> </div> On December 19, 2024, holders of the convertible debentures approved an amendment to the debenture indenture, originally dated as of February 24, 2023, such that the maturity of the convertible debentures was extended from February 24, 2025 to December 31, 2025, and the convertible debentures bear interest of 5.00% per annum until February 24, 2025, and 8.00% per annum from February 25, 2025 (the "December 2024 amendment"). The Company determined that this amendment should be treated as a debt modification. Debt discount amortization during the year ended December 31, 2025 and 2024 was $482,045 and $1,777,505, respectively. Unamortized debt discount as of December 31, 2025 and 2024 was $nil and $500,937, respectively. Interest expense on the convertible notes for the years ended December 31, 2025 and 2024 was $514,904 and $443,508, respectively. On December 18, 2025, the debt was automatically converted into 3,834,857 common shares of the Company at a conversion price of $2.154 per share, being a 40% discount of the IPO price of $3.59 per share, upon the IPO of the Company. The fair value of the shares issued for the conversion was $13,767,137. The outstanding principal and interest of the convertible debentures upon conversion was $8,260,802. In accordance with the debenture indenture, the Company did not issue shares for fractional interest based on the conversion price of $2.154 per share, and was not required to make cash payments for the fractional interest. At the time of conversion there was $18,892 of unamortized debt discount. This amount was written off upon conversion and is included in amortization of debt discount on the consolidated statements of operations A summary of convertible debt as of and for the year ended December 31, 2025, and December 31, 2024 is as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 1</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 2</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 3</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 4</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 5</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: justify; background-color: #e6efff;">As of January 1, 2024</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">3,617,726</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">551,746</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">269,096</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">337,839</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4,776,407</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify;">Issuances</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">743,400</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">743,400</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Fair value of conversion feature</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;">(475,909</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;">(475,909</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify;">Transaction costs</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(19,950</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(19,950</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Amortization of debt discount</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">819,055</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">225,899</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">152,110</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">273,428</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">307,013</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">1,777,505</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Interest</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%;">221,275</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%;">55,736</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%;">34,920</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%;">62,736</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%;">68,841</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%;">443,508</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">As of December 31, 2024</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4,658,056</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">833,381</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">456,126</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">674,003</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">623,395</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">7,244,961</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify;">Amortization of debt discount</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">164,037</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">45,181</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">33,360</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">69,513</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">188,846</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">500,937</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Interest</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">320,546</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">58,402</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">32,538</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">49,425</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">53,993</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">514,904</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify;">Conversion</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(5,142,639</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(936,964</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(522,024</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(792,941</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(866,234</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(8,260,802</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff;">As of December 31, 2025</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;"> </td> </tr> </table> </div> A roll-forward of the derivative liability, which is categorized at Level 3 on the fair value hierarchy, for the years ended December 31, 2025 and December 31, 2024 is as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; white-space: nowrap; width: 87%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap; width: 10%;">Derivative liabilities</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: justify; background-color: #e6efff; width: 87%;">As of January 1, 2024</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">2,416,863</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify; width: 87%;">Fair value of embedded derivative liability recognized</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">475,909</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify; background-color: #e6efff; width: 87%;">Change in fair value</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">1,642,697</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: justify; width: 87%;">As of December 31, 2024</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">4,535,469</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify; background-color: #e6efff; width: 87%;">Change in fair value</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">970,866</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify; width: 87%;">Conversion</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">(5,506,335</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff; width: 87%;">As of December 31, 2025</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; width: 2%;"> </td> </tr> </table> </div> <div style="margin-top: 0px; margin-bottom: 0px;"> </div> The key inputs used in the Monte Carlo model for the embedded conversion feature at initial measurement were as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 1</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 2</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 3</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 4</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 5</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: justify; background-color: #e6efff;">Risk-free interest rate</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4.67%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4.90%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">5.11%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4.69%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff; white-space: nowrap;">4.44% - 5.01%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify;">Expected term (years)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 2.00 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 1.58 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 1.42 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 1.17 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; white-space: nowrap;"> 0.50 - 0.75 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Expected volatility</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">74.6%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">74.2%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">75.8%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">75.9%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff; white-space: nowrap;">69.3% - 86.2%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify;">Probability of an IPO</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">50.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">60.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">70.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">75.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; white-space: nowrap;">95.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff;">Stock price</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">0.5135</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">0.5477</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">0.5632</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">0.5886</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff; white-space: nowrap;">2.0627 - 3.2454</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> The Company's use of a Monte Carlo simulation model required the use of the subjective assumptions: <ul style="padding-left: 0pt;"> <li style="margin-left: 27.6pt; padding-left: 8.4pt; text-align: justify;">The stock price was determined from a 409A valuation which determined that the market approach using the last price raised was the appropriate basis for the fair value of the common stock;</li> <li style="margin-left: 27.6pt; padding-left: 8.4pt; text-align: justify;">The volatility was derived from comparable public companies;</li> <li style="margin-left: 27.6pt; padding-left: 8.4pt; text-align: justify;">For the early redemption option the Company estimated this at 0% for all valuation dates. The Company estimated this default at 0% for all valuation dates;</li> <li style="margin-left: 27.6pt; padding-left: 8.4pt; text-align: justify;">The probability of a successful IPO occurring was based on management's best estimate; and</li> <li style="margin-left: 27.6pt; padding-left: 8.4pt; text-align: justify;">The conversion price is not subject to reset provisions for subsequent financing events</li> </ul> The key inputs used in the Monte Carlo model for the embedded conversion feature at December 31, 2024 were as follows: <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 1</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 2</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 3</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 4</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 5</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: justify; background-color: #e6efff;">Risk-free interest rate</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4.16%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4.16%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4.16%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4.16%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4.16%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify;">Expected term (years)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 1.00 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 1.00 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 1.00 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 1.00 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 1.00 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;">Expected volatility</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">74.0%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">74.0%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">74.0%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">74.0%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">74.0%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify;">Probability of an IPO</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">95.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">95.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">95.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">95.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">95.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff;">Stock price</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">3.59</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">3.59</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">3.59</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">3.59</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">3.59</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> </div> </div>

0.05

0.40 4

4413400

804100

448000

680500

6346000

2352602

86506

743400

475909

19950

0.05

0.08

482045 1777505

500937

514904

443508

3834857

2.154

0.40 3.59

13767137

8260802 2.154

18892

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 1</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 2</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 3</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 4</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 5</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: justify; background-color: #e6efff;">As of January 1, 2024</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">3,617,726</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">551,746</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">269,096</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">337,839</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4,776,407</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify;">Issuances</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">743,400</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">743,400</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Fair value of conversion feature</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;">(475,909</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;">(475,909</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify;">Transaction costs</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(19,950</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(19,950</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Amortization of debt discount</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">819,055</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">225,899</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">152,110</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">273,428</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">307,013</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">1,777,505</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Interest</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%;">221,275</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%;">55,736</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%;">34,920</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%;">62,736</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%;">68,841</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%;">443,508</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">As of December 31, 2024</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4,658,056</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">833,381</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">456,126</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">674,003</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">623,395</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">7,244,961</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify;">Amortization of debt discount</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">164,037</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">45,181</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">33,360</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">69,513</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">188,846</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">500,937</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Interest</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">320,546</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">58,402</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">32,538</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">49,425</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">53,993</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">514,904</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify;">Conversion</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(5,142,639</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(936,964</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(522,024</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(792,941</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(866,234</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right;">(8,260,802</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">)</td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff;">As of December 31, 2025</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;"> </td> </tr> </table> </div>

3617726

551746

269096

337839

4776407

743400

0 0 0 0 475909 475909 0 0 0 0 19950 19950

819055

225899

152110

273428

307013

1777505

221275

55736

34920

62736

68841

443508

4658056

833381

456126

674003

623395

7244961

164037

45181

33360

69513

188846

500937

320546

58402

32538

49425

53993

514904

5142639 936964 522024 792941 866234 8260802

2416863

475909

-1642697

4535469

-970866

5506335

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 1</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 2</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 3</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 4</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 5</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: justify; background-color: #e6efff;">Risk-free interest rate</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4.67%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4.90%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">5.11%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4.69%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff; white-space: nowrap;">4.44% - 5.01%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify;">Expected term (years)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 2.00 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 1.58 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 1.42 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 1.17 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; white-space: nowrap;"> 0.50 - 0.75 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Expected volatility</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">74.6%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">74.2%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">75.8%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">75.9%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff; white-space: nowrap;">69.3% - 86.2%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify;">Probability of an IPO</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">50.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">60.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">70.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">75.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; white-space: nowrap;">95.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff;">Stock price</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">0.5135</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">0.5477</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">0.5632</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">0.5886</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff; white-space: nowrap;">2.0627 - 3.2454</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 1</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 2</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 3</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 4</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Tranche 5</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: justify; background-color: #e6efff;">Risk-free interest rate</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4.16%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4.16%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4.16%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4.16%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">4.16%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify;">Expected term (years)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 1.00 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 1.00 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 1.00 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 1.00 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;"> 1.00 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;">Expected volatility</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">74.0%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">74.0%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">74.0%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">74.0%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%; background-color: #e6efff;">74.0%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify;">Probability of an IPO</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">95.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">95.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">95.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">95.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 8%;">95.00%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff;">Stock price</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">3.59</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">3.59</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">3.59</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">3.59</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 8%; background-color: #e6efff;">3.59</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> </div>

0.0467

0.049

0.0511

0.0469

0.0444

0.0501

P2Y P1Y6M29D P1Y5M1D P1Y2M1D P0Y6M P0Y9M

0.746

0.742

0.758

0.759

0.693

0.862

0.50

0.60

0.70

0.75

0.95

0.5135

0.5477

0.5632

0.5886

2.0627

3.2454

0.0416

P1Y P1Y P1Y P1Y P1Y

0.74

0.95

3.59

421000

20372

0.03

303611

0.15

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; white-space: nowrap; width: 74%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">December 31, 2025</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap; width: 10%;">December 31, 2024</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; background-color: #e6efff; border-top: 1.5pt solid #000000; text-align: justify; width: 74%;">Lease cost:</td> <td style="vertical-align: bottom; background-color: #e6efff; border-top: 1.5pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; background-color: #e6efff; border-top: 1.5pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; background-color: #e6efff; border-top: 1.5pt solid #000000; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; background-color: #e6efff; border-top: 1.5pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; background-color: #e6efff; border-top: 1.5pt solid #000000; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; background-color: #e6efff; border-top: 1.5pt solid #000000; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; width: 74%;">Operating lease cost</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%;">128,018</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%;">121,579</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff; width: 74%;">Variable lease cost</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">70,418</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">55,556</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; width: 74%;">Short term lease cost</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">344,443</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">57,554</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff; width: 74%;">Net lease cost</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">542,879</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">234,689</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: justify; width: 74%;">Cash paid for operating lease liabilities</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; border-bottom: 1.5pt solid #000000; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%;">(87,749</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 2%;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; border-bottom: 1.5pt solid #000000; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%;">(75,801</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 2%;">)</td> </tr> </table> </div>

128018

121579

70418

55556

344443

57554

542879

234689

87749

75801

55898

91767

434253

162150

490151

253917

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; white-space: nowrap; width: 87%;">Operating lease commitments and lease liability</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; white-space: nowrap; width: 10%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-bottom: 1.5pt; vertical-align: bottom; text-align: justify; background-color: #e6efff; width: 87%;">2026</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">125,350</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-bottom: 1.5pt; vertical-align: bottom; text-align: justify; width: 87%;">2027</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">129,111</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-bottom: 1.5pt; vertical-align: bottom; text-align: justify; background-color: #e6efff; width: 87%;">2028</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">132,984</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-bottom: 1.5pt; vertical-align: bottom; text-align: justify; width: 87%;">2029</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">136,974</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-bottom: 1.5pt; vertical-align: bottom; text-align: justify; background-color: #e6efff; width: 87%;">2030</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">141,083</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-bottom: 1.5pt; vertical-align: bottom; text-align: justify; width: 87%;">2031</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; border-bottom: 0.75pt solid #000000; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">59,507</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; border-bottom: 0.75pt solid #000000; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff; width: 87%;">Total future minimum lease payments</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">725,009</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-bottom: 1.5pt; vertical-align: bottom; text-align: justify; width: 87%;">Discount</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">(234,858</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%;">)</td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff; width: 87%;">Total</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">490,151</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; width: 2%;"> </td> </tr> </table> </div>

125350

129111

132984

136974

141083

59507

725009

234858

490151

P5Y5M1D

521070

3.59

1870643

106516

5224 3.59

12672

4101109

226129

1142367

11425 3.59

27163

234485

3.59

841801

50711

2344 3.59

4925

1976791

194029

550639

91426

3.59

328230

14066

6451 3.59

13450

6145364

3.59

22061857

2671890

61402

120564

3.59

3834857

2.154

13767137

404312

3.59

1451480

11676166

11915000 0.33

114250

2456710

3.59

8819600

735634

24574 3.59

57182

521070

1870643

105703

5224 3.59

18174574

0.33

P3Y8M15D

59169000 86846 3.59 11915000 0.33

6346420

0.39

P2Y8M23D

71478245 6346420 0.39 P2Y8M23D 71478245 86846 24574 3.59

178774

57182

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; white-space: nowrap; text-align: center; border-bottom: 0.75pt solid black; border-top: 0.75pt solid black; width: 74%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; white-space: nowrap; text-align: center; border-bottom: 0.75pt solid black; border-top: 0.75pt solid black; width: 1%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; white-space: nowrap; border-bottom: 0.75pt solid black; border-top: 0.75pt solid black; width: 10%;">December 31, 2025</td> <td style="margin-top: 0pt; margin-bottom: 0pt; white-space: nowrap; text-align: center; border-bottom: 0.75pt solid black; border-top: 0.75pt solid black; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; white-space: nowrap; text-align: center; border-bottom: 0.75pt solid black; border-top: 0.75pt solid black; width: 1%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; white-space: nowrap; border-bottom: 0.75pt solid black; border-top: 0.75pt solid black; width: 10%;">December 31, 2024</td> <td style="margin-top: 0pt; margin-bottom: 0pt; white-space: nowrap; text-align: center; border-bottom: 0.75pt solid black; border-top: 0.75pt solid black; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; width: 74%;">Expected volatility</td> <td style="vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="vertical-align: middle; background-color: #e6efff; text-align: right; width: 10%;">68.98% - 87.30%</td> <td style="vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="vertical-align: middle; background-color: #e6efff; text-align: right; width: 10%;">77.1%</td> <td style="vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; width: 74%;">Expected term (years)</td> <td style="vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 10%;"> 3.72 - 4.67 </td> <td style="vertical-align: middle; text-align: right; width: 2%;"> </td> <td style="vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="vertical-align: middle; text-align: right; width: 10%;"> 4.78 - 4.95 </td> <td style="vertical-align: middle; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; width: 74%;">Risk-free interest rate</td> <td style="vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="vertical-align: middle; background-color: #e6efff; text-align: right; width: 10%;">2.61% - 3.10%</td> <td style="vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="vertical-align: middle; background-color: #e6efff; text-align: right; width: 10%;">3.52% - 4.20%</td> <td style="vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; width: 74%;">Dividend yield</td> <td style="vertical-align: middle; border-bottom: 1.5pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: middle; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%;">0%</td> <td style="vertical-align: middle; border-bottom: 1.5pt solid #000000; text-align: right; width: 2%;"> </td> <td style="vertical-align: middle; border-bottom: 1.5pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: middle; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%;">0%</td> <td style="vertical-align: middle; border-bottom: 1.5pt solid #000000; text-align: right; width: 2%;"> </td> </tr> </table> </div>

0.6898

0.873

0.771

P3Y8M19D

P4Y8M1D

P4Y9M10D

P4Y11M12D

0.0261

0.031

0.0352

0.042

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-left: 18.1pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: justify; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Number of options</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Weighted average exercise price</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Weighted average remaining life in years</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Aggregate intrinsic value</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Outstanding, December 31, 2024</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Issued</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">2,415,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">3.59</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;">Outstanding, December 31, 2025</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">2,415,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">3.59</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;"> 4.63 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">19,464,900</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000;">Vested, December 31, 2025</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 1.5pt solid #000000;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div>

2415000

3.59

2415000

3.59

P4Y7M17D

19464900

2200000

3.59

1425000

215000

3.59

75000

140000

1883186

651214

735209

397410

99353

2312710

4195896

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Expected volatility</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">77.25% - 77.97%</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify;">Expected term (years)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> 2.57 - 2.64 </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Risk-free interest rate</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">2.57%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.65pt; padding-left: 5.65pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: justify;">Dividend yield</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">0%</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table>

0.7725

0.7797

P2Y6M25D

P2Y7M20D

0.0257

2285000

114250

2170750

2285000

1275000

3.59

0.50 0.25 17.95 250000 0.05 5.38 0.05 5.38 100000 0.05 5.38 100000 0.05 5.38 100000 0.05 5.38 100000 The Company assessed there to be 95% probability of achievement of each 5% tranche having a $5.38 share price target; and a 0% probability of achievement for the 25% tranche having a $17.95 share price target. 5.38

17.95

0.05 114250

4186374

18321 256496

2400065

1511492

4016776

<div> 9. RELATED PARTY TRANSACTIONS Due From Related Party As of December 31, 2025 and 2024, $0 and $4,074, respectively, was due from the former CEO, who is also a significant shareholder. The amounts are unsecured, non-interest bearing and due on demand. As of December 31, 2025, $6,833 (December 31, 2024 - $0) was due from the CFO, for expenses paid on behalf of the CFO by the Company prior to the initial public offering. The amounts are unsecured, non-interest bearing and due on demand. Management Fees During the years ended December 31, 2025 and 2024, management fees of $310,097 and $232,000, respectively, were incurred to the former CEO, who is also a significant shareholder of the Company. As of December 31, 2025 and 2024, $25,000 and $0, respectively, management fees were included in accounts payable and accrued liabilities. . Management fees also included stock-based compensation arising from 500,000 options issued to the former CEO, amounting to $397,410 and $0, respectively, for the years ended December 31, 2025 and 2024. The grant date fair value of the 500,000 options granted was $868,102. Consulting Fees During the years ended December 31, 2025 and 2024, the Company incurred an expense of $35,000 and $25,000, respectively, of fees to a former BOD member. As of December 31, 2025 and December 31, 2024, $0 and $0 of these fees were unpaid, respectively. During the years ended December 31, 2025 and 2024, the Company incurred an expense of $0 and $90,000, respectively, of fees to a Company for which a BOD member is part of senior management. As of December 31, 2025 and 2024, $0 and $0 of these fees were included in accounts payable and accrued liabilities, respectively. During the years ended December 31, 2025 and 2024, the Company incurred an expense of $72,000 and $53,000, respectively, of fees to an entity owned by the spouse of the former CEO, who is also a significant shareholder. As of December 31, 2025 and 2024, $6,000 and $0 of these fees were included in accounts payable and accrued expenses. During the years ended December 31, 2025 and 2024, the Company incurred an expense of $40,606 and $0, respectively, of fees to the former BOD member of the Company. As of December 31, 2025 and 2024, $0 and $0 of these fees were unpaid, respectively. Contract Labor During the years ended December 31, 2025 and 2024, the Company incurred expenses of $73,000 and $0, respectively, to an immediate family member of the former CEO, who is also a significant shareholder. As of December 31, 2025 and 2024, $0 and $0 of these fees were unpaid, respectively. Director Fees During the years ended December 31, 2025 and 2024, directors fees of $168,000 and $164,000, respectively, were incurred. As of December 31, 2025 and 2024, $34,000 and $128,000, respectively, of directors fees were included in accounts payable and accrued liabilities. <div> </div> Professional Fees During the years ended December 31, 2025 and 2024, the Company incurred professional fee expenses of $101,000 and $95,000, respectively, with the CEO and VP of Development. There were $8,000 and $0 owed to this related party as of December 31, 2025 and 2024, respectively. During the years ended December 31, 2025 and 2024, the Company incurred professional fee expenses of $180,000 and $157,000, respectively, to the CFO of the Company. There were no amounts owed to this related party as of December 31, 2025 and 2024. Stock-based Compensation During the year ended December 31, 2024, the Company recognized no stock-based compensation, as there were no Options nor RSUs issued. <div> During the year ended December 31, 2025, the Company granted the following Options and RSUs to related parties: <ul style="padding-left: 0pt;"> <li style="margin-left: 36pt; padding-left: 0pt; text-align: justify;">500,000 Options with grant date fair value of $868,102 to the former CEO, who is also a significant shareholder;</li> <li style="margin-left: 36pt; padding-left: 0pt; text-align: justify;">640,000 Options with grant date fair value of $1,113,101 to the spouse of the former CEO, who is also a significant shareholder;</li> <li style="margin-left: 36pt; padding-left: 0pt; text-align: justify;">250,000 Options with grant date fair value of $434,051 to the two immediate family members of the former CEO, who is also a significant shareholder;</li> <li style="margin-left: 36pt; padding-left: 0pt; text-align: justify;">125,000 Options with grant date fair value of $217,025 to the CEO and VP of Development;</li> <li style="margin-left: 36pt; padding-left: 0pt; text-align: justify;">125,000 Options with grant date fair value of $218,059 to a director;</li> <li style="margin-left: 36pt; padding-left: 0pt; text-align: justify;">750,000 RSUs with grant date fair value of $2,692,500 to the CFO; and</li> <li style="margin-left: 36pt; padding-left: 0pt; text-align: justify;">525,000 RSUs with grant date fair value of $1,884,750 to two directors and two former directors.</li> </ul> </div> During the years ended December 31, 2025, the Company incurred stock-based compensation arising from RSUs amounting to $549,633 to two directors, recognized in consulting fees; and $1,374,083 to the CFO, recognized in professional fees. During the years ended December 31, 2025 the Company incurred stock-based compensation arising from options amounting to $397,410 to the former CEO, recognized in management fees; and $485,044 to the spouse of the former CEO, who is also a significant shareholder, recognized in consulting fees; and $198,705 to two immediate family members of the former CEO, recognized in contract labor and fuel; and $86,688 to a director, recognized in consulting fees; and $99,353 to the CEO and VP of Development, recognized in professional fees. Commitments and Contingencies The Company entered into an agreement with a company owned 50% by the former CEO, who is also a significant shareholder. The agreement is to buy jet engines. The purchase price of the jet engines is $2,200,000. As of December 31, 2025, the Company had total long-term deposits with this related party recorded for this agreement of $0 (December 31, 2024 - $1,300,000). The Company received the jet engines upon completion of listing on the NYSE American and had paid the contract price in full. The Company placed the jet engines into service on December 18, 2025.  <div> </div> Notes Payable On August 14, 2010, Company entered into a loan agreement with the former CEO, who is also a significant shareholder, in the amount of $865,000. The loan bears no interest, with no terms of repayment. During the years ended December 31, 2025 and 2024, repayments of $0 and $45,000, respectively, were made. During the year ended December 31, 2025, the Company applied $4,074 that was due from the former CEO against the outstanding balance of this loan. As of December 31, 2025 and 2024, $185,976 and $190,050, respectively, were outstanding for this loan. On August 14, 2010, the Company entered into a loan agreement with an entity owned by the spouse of the former CEO, who is also a significant shareholder, in the amount of $865,000. The loan bears no interest, with no terms of repayment. As of December 31, 2025 and 2024, $865,000 was outstanding for this loan. On April 10, 2016, the Company entered into a loan agreement with a company owned 50% by the former CEO, who is also a significant shareholder in the amount of $100,000. The loan bears no interest, with no terms of repayment. During the years ended December 31, 2025 and 2024, repayments of $100,000 and $0, respectively, were made. As of December 31, 2025 and 2024, $0 and $100,000, respectively, was outstanding for this loan. On August 1, 2022, the Company entered into a loan agreement with the CEO, who is also a significant shareholder, in the amount of $475,150. The loan bears no interest, with no terms of repayment. As of December 31, 2025 and 2024, $475,150 was outstanding for this loan. </div>

4074

6833

310097

232000

25000

500000

397410

500000

868102

35000

25000

0 0

90000

72000

53000

6000

40606

0 0

73000

0 0

168000

164000

34000

128000

101000

95000

8000

180000

157000

500000

868102

640000

1113101

250000

434051

125000

217025

125000

218059

750000

2692500

525000

1884750

549633

1374083

397410

485044

198705

86688

99353

2200000

1300000

865000

45000

4074

185976

190050

865000

100000

475150

-3474159

-1660843

-909899

-434983

-4384058

-2095826

27035 482490

4357023

1613336

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 74%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 10%;">December 31, 2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 10%;">December 31, 2024</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Loss before income taxes</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">(16,543,616</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 2%;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">(7,908,777</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;">Expected recovery at federal rate of 21%</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(3,474,159</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(1,660,843</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Expected recovery at state rate of 5.5%</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">(909,899</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 2%;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">(434,983</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;">Permanent book/tax differences</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">27,035</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">482,490</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Change in valuation allowance</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">4,357,023</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">1,613,336</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;">Total tax benefit</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 10%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; width: 2%;"> </td> </tr> </table> <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 74%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 10%;">December 31, 2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 10%;">December 31, 2024</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">US federal statutory rate</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">21.0%</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">21.0%</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;">State rate*</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">5.5%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">5.5%</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Effects of:</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;">Amortization of debt discount</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(6.0%)</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Permanent book/tax differences</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">(0.2%)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;">Valuation allowance</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(26.3%)</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(20.5%)</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff; width: 10%;">0%</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff; width: 10%;">0%</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div>

-16543616

-7908777

-3474159

-1660843

-909899

-434983

27035 482490

4357023

1613336

0.21

0.055

-0.06

-0.002 0

-0.263

-0.205

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 74%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 10%;">December 31, 2025</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 10%;">December 31, 2024</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Deferred tax assets</td> <td style="vertical-align: bottom; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; background-color: #e6efff; text-align: right; width: 10%;"> </td> <td style="vertical-align: bottom; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 1%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 10%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;">Net operating loss carryforwards</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%;">5,186,407</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 10%;">3,852,828</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Property, plant and equipment</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">12,794</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;">Convertible debt</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">104,538</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Research and experimental expenditures</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">244,988</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;">Stock-based compensation</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">1,608,433</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Total deferred tax assets</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">7,039,828</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">3,970,327</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Deferred tax liabilities</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;">Derivative liabilities</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(452,344</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Property, plant and equipment</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">(12,151</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 2%;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;">Short-term investments</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">(251</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 10%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Total deferred tax liabilities</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">(12,402</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 2%;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">(452,344</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Valuation allowance</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">(7,027,426</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 2%;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 10%;">(3,517,983</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 74%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 74%;">Net deferred tax asset</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 10%;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; background-color: #e6efff; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; width: 2%;"> </td> </tr> </table> </div>

5186407

3852828

12794

0 104538

244988

1608433

7039828

3970327

452344

12151

251 0

12402

452344

7027426

3517983

19598000

18662000

14539000

14537000

100000 150000

100000

359000 100000 100000 150000

750000

2692500 250000 112000 51723 163723 354967 0 5000000

5000000

2500000

20000000

5150000 150000

12. CORRECTION OF IMMATERIAL ERRORS During the preparation of the Company's consolidated financial statements for the year ended December 31, 2025, the Company identified certain immaterial errors in the previously issued unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2025; and for the three and nine months ended September 30, 2025. The Company identified three errors affecting the previously issued unaudited condensed consolidated interim financial statements: (i) an under-accrual of business development expenses, related to hourly billings for services between May and September 2025, where insufficient accruals for those services were provided based on information available at the time of reporting for those periods; (ii) an over-recognition of consulting fees of $100,000 in the three and nine months ended September 30, 2025, for services related to October 2025 and later; and, (iii) 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, 2026. The Company determined business development expenses of $376,125 and $376,125, respectively, should have been recorded in the unaudited condensed consolidated interim statements of operations for the three and six months ended June 30, 2025; and business development expenses of $472,500 and $848,625, respectively, should have been recorded in the unaudited condensed consolidated interim statements of operations for the three and nine months ended September 30, 2025. <div style="margin-top: 0px; margin-bottom: 0px;"> </div> A corresponding accounts payable and accrued liabilities of $376,125 and $848,625, should have been recorded in the condensed consolidated interim balance sheet as of June 30, 2025, and September 30, 2025, respectively. As of the three and six months ended June 30, 2025, and three and nine months ended September 30, 2025, the Company received services from a consultant for business development services, however provided insufficient accruals for those services based on information available at the time of reporting for those periods. The Company also determined consulting fees of $100,000, and $100,000 respectively, were overstated in the unaudited condensed consolidated interim statement of operations for the three and nine months ended September 30, 2025. A corresponding prepaid expenses of $100,000, should have been recorded in the condensed consolidated interim balance sheet as of September 30, 2025. The Company also determined research and development expenses of $255,479 was understated in the unaudited condensed consolidated interim statement of operations for the three months ended March 31, 2025. Correspondingly, the 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 March 31, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Research and development expenses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">255,479</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">255,479</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total operating expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,624,074</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,879,553</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Net loss</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">2,397,628</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">2,653,107</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Loss per share</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.12</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.01</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.13</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> </table> </div> Unaudited condensed consolidated balance sheet as of March 31, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Accounts payable and accrued liabilities</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">465,889</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">255,479</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">721,368</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total current liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">16,797,701</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">17,053,180</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">16,934,303</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">17,189,782</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Accumulated deficit</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(19,284,443</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(19,539,922</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total stockholders' equity (deficit)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(4,292,691</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(4,548,170</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> </table> </div> Unaudited condensed consolidated statement of cash flows as of March 31, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Net loss for the year</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">(2,397,628</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">(255,479</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">(2,653,107</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Changes in non-cash working capital: Accounts payable and accrued liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(265,867</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(10,388</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Net cash used in operating activities</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(1,669,732</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(1,669,732</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> </table> </div> Unaudited condensed consolidated interim statements of changes in stockholders' equity (deficit) as of March 31, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Accumulated deficit</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(19,284,443</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(19,539,922</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total stockholders' equity (deficit)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(4,292,691</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(4,548,170</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> </table> </div> <div> <div> <div> <div> Unaudited condensed consolidated interim statement of operations for the three months ended June 30, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Business development expenses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">206,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">376,125</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">582,125</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Research and development expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">441,992</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">186,513</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total operating expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">2,056,672</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">120,646</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">2,177,318</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> <div style="margin-top: 0px; margin-bottom: 0px;"> </div> <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; border-bottom: 0.75pt solid #000000;">Line item</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; white-space: nowrap; border-bottom: 0.75pt solid #000000;">As previously reported</td> <td style="vertical-align: bottom; text-align: left; width: 2%; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; white-space: nowrap; border-bottom: 0.75pt solid #000000;">Adjustment</td> <td style="vertical-align: bottom; text-align: left; width: 2%; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; white-space: nowrap; border-bottom: 0.75pt solid #000000;">As corrected</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid #000000;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Net loss</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,813,781</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">120,646</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,934,427</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Loss per share</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.09</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.09</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> <div> Unaudited condensed consolidated interim statement of operations for the six months ended June 30, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Business development expenses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">386,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">376,125</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">762,125</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total operating expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">3,680,746</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">4,056,871</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Net loss</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">4,211,409</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">4,587,534</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Loss per share</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.21</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.02</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.23</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> </div> </div> </div> <div> <div> <div> Unaudited condensed consolidated balance sheet as of June 30, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Accounts payable and accrued liabilities</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">661,401</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">376,125</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">1,037,526</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total current liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">16,879,073</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">17,255,198</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">16,988,849</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">17,364,974</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Accumulated deficit</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(21,098,224</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(21,474,349</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total stockholders' equity (deficit)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(3,565,520</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(3,941,645</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> </table> </div> </div> </div> </div> <div> <div> <div> Unaudited condensed consolidated statement of cash flows as of June 30, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Net loss for the year</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">(4,211,409</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">(376,125</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">(4,587,534</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Changes in non-cash working capital: Accounts payable and accrued liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(70,355</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">305,770</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Net cash used in operating activities</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(3,488,588</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(3,488,588</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> </table> </div> </div> </div> </div> <div> <div> <div> Unaudited condensed consolidated interim statements of changes in stockholders' equity (deficit) as of June 30, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Accumulated deficit</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(21,098,224</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(21,474,349</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total stockholders' equity (deficit)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(3,565,520</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(3,941,645</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> </table> </div> </div> </div> </div> <div> <div> <div> <div> Unaudited condensed consolidated interim statement of operations for the three months ended September 30, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Business development expenses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">194,736</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">472,500</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">667,236</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Consulting fees</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">423,490</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(100,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">323,490</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total operating expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,980,953</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">372,500</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">2,353,453</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Net loss</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">2,049,910</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">372,500</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">2,422,410</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Loss per share</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">0.09</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">0.03</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">0.12</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> </div> <div> Unaudited condensed consolidated interim statement of operations for the nine months ended September 30, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Business development expenses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">580,736</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">848,625</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">1,429,361</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Consulting fees</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,189,450</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(100,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,089,450</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total operating expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">5,661,699</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">748,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">6,410,324</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Net loss</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">6,261,319</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">748,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">7,009,944</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Loss per share</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">0.30</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">0.04</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">0.34</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> </div> </div> </div> </div> <div> <div> <div> <div> <div> Unaudited condensed consolidated balance sheet as of September 30, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Prepaid expenses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">294,287</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">100,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">394,287</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total current assets</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">4,451,683</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">100,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">4,551,683</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total assets</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">12,235,764</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">100,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">12,335,764</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Accounts payable and accrued liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,098,683</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">848,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,947,308</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total current liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">17,642,168</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">848,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">18,490,793</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">17,731,059</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">848,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">18,579,684</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> <div style="margin-top: 0px; margin-bottom: 0px;"> </div> <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Accumulated deficit</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(23,148,134</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(748,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(23,896,759</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total stockholders' equity (deficit)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(5,495,295</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(748,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(6,243,920</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> </table> </div> </div> </div> </div> </div> <div> <div> <div> Unaudited condensed consolidated statement of cash flows as of September 30, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Net loss for the year</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">(6,261,319</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">(748,625</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">(7,009,944</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Changes in non-cash working capital: Prepaid expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(159,715</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(100,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(259,715</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Accounts payable and accrued liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">366,927</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">848,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,215,552</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Net cash used in operating activities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(4,992,573</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(4,992,573</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> </table> </div> </div> </div> </div> <div> <div> <div> Unaudited condensed consolidated interim statements of changes in stockholders' equity (deficit) as of September 30, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Accumulated deficit</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(23,148,134</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(748,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(23,896,759</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total stockholders' equity (deficit)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(5,495,295</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(748,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(6,243,920</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> </table> </div> </div> </div> </div> For the three months ended March 31, 2025, the corrected net loss is $2,653,107, or $0.13 per share. 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. For the three and nine months ended September 30, 2025, the corrected net loss is $2,422,410 and $7,009,944, respectively, or $0.12 per share, and $0.34 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; and the previously issued unaudited condensed consolidated interim financial statements for the three and nine months ended September 30, 2025.

100000

255479

376125

472500

848625

376125

848625

100000

255479

Unaudited condensed consolidated interim statement of operations for the three months ended March 31, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Research and development expenses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">255,479</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">255,479</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total operating expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,624,074</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,879,553</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Net loss</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">2,397,628</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">2,653,107</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Loss per share</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.12</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.01</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.13</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> </table> </div> <div> <div> Unaudited condensed consolidated interim statement of operations for the three months ended June 30, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Business development expenses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">206,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">376,125</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">582,125</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Research and development expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">441,992</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">186,513</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total operating expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">2,056,672</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">120,646</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">2,177,318</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> <div style="margin-top: 0px; margin-bottom: 0px;"> </div> <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; border-bottom: 0.75pt solid #000000;">Line item</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; white-space: nowrap; border-bottom: 0.75pt solid #000000;">As previously reported</td> <td style="vertical-align: bottom; text-align: left; width: 2%; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; white-space: nowrap; border-bottom: 0.75pt solid #000000;">Adjustment</td> <td style="vertical-align: bottom; text-align: left; width: 2%; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; white-space: nowrap; border-bottom: 0.75pt solid #000000;">As corrected</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid #000000;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Net loss</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,813,781</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">120,646</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,934,427</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Loss per share</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.09</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.09</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> <div> Unaudited condensed consolidated interim statement of operations for the six months ended June 30, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Business development expenses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">386,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">376,125</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">762,125</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total operating expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">3,680,746</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">4,056,871</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Net loss</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">4,211,409</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">4,587,534</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Loss per share</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.21</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.02</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">0.23</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> </div> <div> <div> Unaudited condensed consolidated interim statement of operations for the three months ended September 30, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Business development expenses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">194,736</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">472,500</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">667,236</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Consulting fees</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">423,490</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(100,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">323,490</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total operating expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">1,980,953</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">372,500</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">2,353,453</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Net loss</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">2,049,910</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">372,500</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">2,422,410</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Loss per share</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">0.09</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">0.03</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">0.12</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> </div> <div> Unaudited condensed consolidated interim statement of operations for the nine months ended September 30, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Business development expenses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">580,736</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">848,625</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">1,429,361</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Consulting fees</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,189,450</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(100,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,089,450</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total operating expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">5,661,699</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">748,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">6,410,324</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Net loss</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">6,261,319</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">748,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">7,009,944</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Loss per share</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">0.30</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">0.04</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">0.34</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> </div> </div>

255479

1624074

255479

1879553

-2397628

-255479

-2653107

-0.12

-0.01

-0.13

Unaudited condensed consolidated balance sheet as of March 31, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Accounts payable and accrued liabilities</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">465,889</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">255,479</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">721,368</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total current liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">16,797,701</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">17,053,180</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">16,934,303</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">17,189,782</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Accumulated deficit</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(19,284,443</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(19,539,922</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total stockholders' equity (deficit)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(4,292,691</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(255,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(4,548,170</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> </table> </div> <div> Unaudited condensed consolidated balance sheet as of June 30, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Accounts payable and accrued liabilities</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">661,401</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">376,125</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">1,037,526</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total current liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">16,879,073</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">17,255,198</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">16,988,849</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">17,364,974</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Accumulated deficit</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(21,098,224</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(21,474,349</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total stockholders' equity (deficit)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(3,565,520</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(376,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(3,941,645</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> </table> </div> </div> <div> <div> Unaudited condensed consolidated balance sheet as of September 30, 2025 <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;">Line item</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As previously reported</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">Adjustment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">As corrected</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">Prepaid expenses</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">294,287</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">100,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 10%; background-color: #e6efff;">394,287</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total current assets</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">4,451,683</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">100,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">4,551,683</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total assets</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">12,235,764</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">100,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">12,335,764</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Accounts payable and accrued liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,098,683</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">848,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">1,947,308</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Total current liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">17,642,168</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">848,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">18,490,793</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">17,731,059</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">848,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">18,579,684</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> <div style="margin-top: 0px; margin-bottom: 0px;"> </div> <div style="margin-left: 18pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Accumulated deficit</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(23,148,134</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(748,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%; background-color: #e6efff;">(23,896,759</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;">Total stockholders' equity (deficit)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(5,495,295</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(748,625</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 10%;">(6,243,920</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> </table> </div> </div>

465889

255479

721368

16797701

255479

17053180

16934303

255479

17189782

-19284443

-255479

-19539922

-4292691

-255479

-4548170

-2397628

-255479

-2653107

-265867

255479

-10388

-1669732

-19284443

-255479

-19539922

-4292691

-255479

-4548170

206000

376125

582125

441992

-255479

186513

2056672

120646

2177318

-1813781

-120646

-1934427

-0.09

386000

376125

762125

3680746

376125

4056871

-4211409

-376125

-4587534

-0.21

-0.02

-0.23

661401

376125

1037526

16879073

376125

17255198

16988849

376125

17364974

-21098224

-376125

-21474349

-3565520

-376125

-3941645

-4211409

-376125

-4587534

-70355

376125

305770

-3488588

-21098224

-376125

-21474349

-3565520

-376125

-3941645

194736

472500

667236

423490

-100000

323490

1980953

372500

2353453

-2049910

-372500

-2422410

-0.09

-0.03

-0.12

580736

848625

1429361

1189450

-100000

1089450

5661699

748625

6410324

-6261319

-748625

-7009944

-0.3

-0.04

-0.34

294287

100000

394287

4451683

100000

4551683

12235764

100000

12335764

1098683

848625

1947308

17642168

848625

18490793

17731059

848625

18579684

-23148134

-748625

-23896759

-5495295

-748625

-6243920

-6261319

-748625

-7009944

159715

100000

259715

366927

848625

1215552

-4992573

-23148134

-748625

-23896759

-5495295

-748625

-6243920

-2653107

-0.13

-1934427

-4587534

-0.09

-0.23

-2422410

-7009944

-0.12

-0.34

<div> 13. SUBSEQUENT EVENTS On January 5, 2026, the Company issued an aggregate of 29,341 Common Shares pursuant to the cashless exercise of 30,000 warrants outstanding (Note 8), at an exercise price of $0.33 per share. On January 8, 2026, the Company issued 24,285 Common Shares pursuant to the cashless exercise of 25,000 warrants outstanding (Note 8), at an exercise price of $0.33 per share. On February 3, 2026, Rick Svetkoff withdrew and transferred $500,000 to accounts not held in Starfighters International, Inc.'s name. This transfer was made without approval of the Company's Board of Directors or Audit Committee. On February 17, 2026, Rick Svetkoff withdrew $1,395,869 to repay amounts owing to Rick Svetkoff and RLB Aviation, Inc. This transaction was made without approval of the Company's Board of Directors or Audit Committee. On February 19, 2026, Rick Svetkoff, the former CEO, and Brenda Svetkoff, the former Secretary and spouse of the former CEO, resigned from the Company. On February 19, 2026, the Options granted to Rick Svetkoff, the former CEO, and Brenda Svetkoff, the former Secretary and spouse of the former CEO, amounting to 500,000 Options and 640,000 Options, respectively, were automatically forfeited upon their respective resignations from the Company. On February 22, 2026, Tim Franta was appointed as CEO of the Company. On March 12, 2026, the Company issued 114,250 Common Shares upon vesting of 114,250 RSUs (Note 8), which had an acceleration of vesting upon the achievement of a benchmark of the share price of the Company's Common Shares being traded on the NYSE American. On April 2, 2026, the Company issued 114,250 Common Shares upon vesting of 114,250 RSUs (Note 8), which had an acceleration of vesting upon the achievement of a benchmark of the share price of the Company's Common Shares being traded on the NYSE American. <div> </div> </div> On April 9, 2026, former CEO and Director, Rick Svetkoff filed a complaint against the Company, and its board members in the 18th Judicial Circuit in Brevard County, Florida. The complaint alleges that the defendants breached fiduciary duty, deceptive business practices, and improper control and alteration of corporate records and is seeking $26 million in damages. The Company denies all of the allegations of the complaint and intends to vigorously defend itself.

29341

30000 0.33

24285

25000 0.33

500000

1395869

500000

640000

114250

26000000

<div> 14. AMENDMENTS TO PREVIOUSLY ISSUED FINANCIAL STATEMENTS The Company has amended the previously issued consolidated financial statements for the year ended December 31, 2025 to expand disclosures in response to comments provided to the Company by Staff at the Corporation Finance Division of the SEC. Amendments include: <ul style="padding-left: 0pt; margin-top: 0pt; margin-bottom: 0pt;"> <li style="margin-left: 48.55pt; text-align: justify; padding-left: 8.4pt; margin-top: 0pt; margin-bottom: 0pt;">Note 3 - Summary of Significant Accounting Policies, addition of paragraph (w) for disclosures regarding segment reporting;</li> <li style="margin-left: 48.55pt; text-align: justify; padding-left: 8.4pt; margin-top: 0pt; margin-bottom: 0pt;">Note 4 - Property, Plant, and Equipment, addition of disclosure regarding the ownership and accounting recognition of the Company's F-104 aircrafts acquired in 2022; and,</li> <li style="margin-left: 48.55pt; text-align: justify; padding-left: 8.4pt; margin-top: 0pt; margin-bottom: 0pt;">Note 12 - Correction of Immaterial Errors, addition of tabular presentation to disclose effect of correction on each financial statement line item for prior interim period presented, showing the amounts as previously reported, the amount of correction, and the amount as corrected.</li> </ul> </div>