| Schedule of information pertaining to reverse recapitalization |
The following summarizes the common stock outstanding immediately following the de-SPAC transaction, on February 24, 2026: | | | | | | | | Number of shares | SVII Public Shareholders | | 1,101,717 | SVII Rights Conversion | | 2,299,982 | SVII Founders | | 2,528,334 | Total SVII | | 5,930,033 | Eagle Energy Shareholders | | 21,638,289 | Shares Issued for Transaction Costs | | 300,000 | Total Common Stock at Closing | | 27,868,322 | Series A Cumulative Convertible Preferred Stock, As Converted | | 2,500,000 | Total Shares | | 30,368,322 |
A reconciliation of net contributions from reverse recapitalization is as follows: | | | | | | | | Cash | | $ | 4,894,595 | Less: transaction costs | | | (2,916,782) | Cash assumed on reverse recapitalization | | $ | 1,977,813 | | | | | Net liabilities assumed by the Company: | | | | Prepaid expenses | | $ | 24,284 | Accounts payable and accrued liabilities | | | (10,913) | Promissory notes payable | | | (2,422,133) | Net assets (liabilities) | | $ | (2,408,762) | | | | | Add: conversion of promissory notes to warrants | | $ | 2,422,133 | Net contributions from reverse recapitalization | | $ | 1,991,184 |
|