Effective October 1, 2025, the Company extended its research agreement with the University of Iowa through September 30, 2026. As consideration under the research agreement, the University of Iowa will receive a maximum of $300,000 from the Company in four equal installments of $75,000. The agreement can be terminated by either party upon sixty (60) days prior written notice to the other. As of June 30, 2026, there is a balance due of $150,000 per the agreement.

Effective August 4, 2025, the Company extended its research agreement with the University of Michigan through September 30, 2026. As consideration under the research agreement, the University of Michigan will receive a maximum of $101,888 from the Company. In the event of early termination by the Company, the Company will pay all costs accrued by the University as of the date of termination, including non-cancellable obligations. As of June 30, 2026, we owed the University of Michigan $22,419 under the agreement.

Effective June 1, 2025, the Company entered into a research agreement with the University of Texas at Austin through June 30, 2026. As consideration under the research agreement, the University of Texas at Austin will receive a maximum of $429,930 from the Company. In the event of early termination by the Company, the Company will pay all costs accrued by the University as of the date of termination, including non-cancellable obligations. As of June 30, 2026, we owed the University of Texas $143,310 under the agreement.

Effective January 30, 2026, the Company entered into a technology and manufacturing service agreement with CTF Solar GmbH through January 30, 2028. As consideration under the service agreement, CTF Solar GmbH will receive a maximum of 2,000,000 Euros from the Company. In the event of early termination by the Company, the Company will pay all cost accrued by CTF Solar GmbH as of the date of termination, including non-cancellable obligations. As of June 30, 2026, no amount was owed to CTF Solar GmbH under the agreement.

The Company began renting lab space in February 2022. The lab rental is on a month-to-month basis and is cancellable with a thirty (30) day notice. On April 1, 2025, the Company renewed the space needed for its lab work at a monthly rent of $7,900 per month. On October 1, 2025, the Company renewed the space needed for its lab work at a monthly rent of $11,100 per month. On April 30, 2026, the Company amended the lab and office suite space at a monthly rent of $7,225 per month. Due to the rental being month-to-month, ASC 842 lease accounting is not applicable.

In the normal course of business, the Company may be involved in legal proceedings, claims and assessments arising in the ordinary course of business. Such matters are subject to many uncertainties, and outcomes are not predictable with assurance. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s financial position or results of operation.