Note 5 – Acquired Project Pipeline

On June 27, 2025 the Company completed the acquisition of specified assets, including intellectual property, a database, a project pipeline and contract rights, from Allcot AG. The acquisition was accounted for as an asset acquisition under ASC 805-50 and the acquired project pipeline is presented within intangible assets, as described in Note 5 to the 2026 Form 10-K. The acquired project pipeline comprised the following:

Amortization is recognized on a straight-line basis over a weighted-average useful life of 27 years beginning July 1, 2025. Amortization expense of $6,836, translated at the average rate for the period, was recognized for the three months ended August 31, 2026. There were no additions during the quarter; the increase in the carrying amount reflects the translation of the Colombian-peso-denominated balance at the closing rate, with the translation difference recognized in the cumulative translation adjustment. Estimated annual amortization is approximately $27,300 for each of the next five fiscal years. No indicators of impairment were identified during the quarter.