| Schedule of the Convertible Notes for the Respective Periods |
The June 2025 Amended Investor Note
|
|
|
June 30,
2026
|
|
December 31,
2025
|
|
June 2025 Amended Investor Note
|
|
|
—
|
|
|
20,000,000 |
|
Convertible debt, gross
|
|
$
|
—
|
|
$
|
20,000,000 |
|
Less:
|
|
|
|
|
|
|
|
Debt issuance costs, net of amortization
|
|
|
—
|
|
|
90,260 |
|
Add:
|
|
|
|
|
|
|
|
Amended debt premium, net of amortization
|
|
|
—
|
|
|
1,559,935 |
|
Convertible debt, net
|
|
$
|
—
|
|
$
|
21,469,675 |
|
Less: Current portion of long-term debt
|
|
|
—
|
|
|
—
|
|
Amended December 2024 convertible note, net – long-term
|
|
$
|
—
|
|
$
|
21,469,675 |
The March 2025 Investor Note
|
|
|
June 30,
2026
|
|
December 31,
2025
|
|
March 2025 Investor Note
|
|
$
|
—
|
|
$
|
46,279,500 |
|
Fair value adjustment
|
|
|
—
|
|
|
928,056 |
|
March 2025 investor note – related party
|
|
$
|
—
|
|
$
|
47,207,556 |
|
The December 2024 Initial Investor Note and June 2025 Amended Investor Note
|
|
|
December 31,
2025
|
|
December 31,
2024
|
|
December 2024 Initial Investor Note
|
|
$
|
—
|
|
$
|
20,000,000 |
|
June 2025 Amended Investor Note
|
|
|
20,000,000 |
|
|
—
|
|
Convertible debt, gross
|
|
$
|
20,000,000 |
|
$
|
20,000,000 |
|
Less:
|
|
|
|
|
|
|
|
Debt discount, net of amortization
|
|
|
—
|
|
|
6,636,805 |
|
Debt issuance costs, net of amortization
|
|
|
90,260 |
|
|
1,610,290 |
|
Add:
|
|
|
|
|
|
|
|
Amended debt premium, net of amortization
|
|
|
1,559,935 |
|
|
—
|
|
Convertible debt, net
|
|
$
|
21,469,675 |
|
$
|
11,752,905 |
|
Less: Current portion of long-term debt
|
|
|
—
|
|
|
11,752,905 |
|
Amended December 2024 convertible note, net – long-term
|
|
$
|
21,469,675 |
|
$
|
—
|
The March 2025 Investor Note
|
|
|
December 31,
2025
|
|
December 31,
2024
|
|
March 2025 Investor Note
|
|
$
|
46,279,500 |
|
$
|
—
|
|
Fair value adjustment
|
|
|
928,056 |
|
|
—
|
|
March 2025 investor note – related party
|
|
$
|
47,207,556 |
|
$
|
—
|
|