Note 5 – Note Payable – Related Party

On July 29, 2026, the Company issued an unsecured promissory note (the “Note”) in the principal amount of $25,000 to Charles Allen, the Company’s Chief Executive Officer, Chief Financial Officer and a member of its board of directors (the “Board”), in exchange for a cash advance of $25,000. The Note bears interest at 6% per annum, computed on the basis of a 360-day year and compounded annually on December 31 of each year, with all accrued and unpaid interest as of each such date added to and thereafter treated as principal. Principal and accrued interest are due and payable on the maturity date, which is the earlier of (i) December 31, 2030 and (ii) the date on which the individuals who constituted the Company’s Board on the date of the Note cease to constitute a majority of the Board. The Note may be prepaid in whole or in part at any time without penalty. If an event of default occurs and continues for five days, the Note bears interest at 15% per annum. The Note is not convertible into any equity securities of the Company.

As of September 30, 2026, the outstanding principal balance of the Note was $25,000 and accrued interest was approximately $258, both of which are presented as long-term liabilities because no amounts are payable within twelve months of the balance sheet date. The Company recognized interest expense of approximately $258 on the Note for each of the three and nine months ended September 30, 2026. No interest or principal was paid during the period.

The Note was filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K dated July 29, 2026.