On January 28, 2026, the Company loaned $400,000 to a third-party under a secured promissory note, with interest accruing at a rate of 7.5% per annum payable to the Company on or by June 15, 2027. In addition, the third-party waived the Company’s annual consortium membership fee of $50,000, which the Company has recorded as a discount to be amortized as interest income over the term of the promissory note receivable. As of June 30, 2026, the Company had a promissory note receivable of $400,000 net of discount of $0, which was fully amortized as of June 30, 2026.

Interest receivable on the promissory note receivable as of June 30, 2026 was $13,068 included in interest receivable on the consolidated balance sheet.