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(“Twin Vee” or the “Company”) was incorporated as Twin Vee Catamarans, Inc., in the state of Florida, on December 1, 2009. On April 7, 2021, the Company filed a Certificate of Conversion to register and incorporate in the state of Delaware and changed the company name to Twin Vee PowerCats Co. The Certificate of Incorporation for Twin Vee PowerCats Co. was also filed on April 7, 2021.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 20, 2023, the Company formed AquaSport Co., a wholly owned subsidiary incorporated in the state of Florida in connection with the Company’s plan to lease the assets of former AQUASPORT™ boat brand and manufacturing facility in White Bluff, Tennessee. On July 30, 2024, AquaSport Co. was merged into Twin Vee PowerCats Co. On May 28, 2025, the Company entered into a Mutual Release Agreement with the lessor, removing all obligations under the lease, and returning to the lessor all property, plant and equipment, brand name and all other leased assets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Forza X1, Inc. was initially incorporated as Electra Power Sports, Inc. on October 15, 2021, and subsequently changed its name to Forza X1, Inc. (“Forza”) on October 29, 2021. Prior to Forza’s incorporation on October 15, 2021, the electric boat business was operated as the Company’s Electra Power Sports™ Division. Following the Company’s initial public offering that closed on July 23, 2021 (the “IPO”), it determined in October 2021 that for several reasons, it would market the Company’s new independent line of electric boats under a new brand name (and new subsidiary). On November 26, 2024 (the “Closing Date”), pursuant to the terms of the Agreement and Plan of Merger, dated as of August 12, 2024 (the “Merger Agreement”), by and between Twin Vee, Twin Vee Merger Sub, Inc. and Forza, Twin Vee Merger Sub, Inc. was merged with and into Forza (the “Merger”), with Forza surviving the Merger as a wholly-owned subsidiary of Twin Vee. At the effective time of the Merger, (a) each outstanding share of common stock of Forza, par value $<span id="xdx_902_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20260930__us-gaap--RelatedPartyTransactionAxis__custom--ForzaCommonStockMember_zpuMO4jqgUSc" title="Common stock par value per share">0.001</span> per share of Forza (the “Forza Common Stock”) (other than any shares held by Twin Vee) was converted into the right to receive 0.611666275 shares of Twin Vee common stock, par value $0.001 per share (the “Twin Vee Common Stock”), (b) each outstanding Forza stock option, whether vested or unvested, that had not previously been exercised prior to such time was converted into an option to purchase 0.611666275 shares of Twin Vee Common Stock for each share of Forza Common Stock covered by such option, (c) each outstanding warrant to purchase shares of Forza Common Stock was assumed by Twin Vee and converted into a warrant to purchase 0.611666275 shares of Twin Vee Common Stock for each share of Forza Common Stock for which such warrant was exercisable for prior to the effective time of the Merger, and (d) the 7,000,000 shares of Forza Common Stock held by Twin Vee were cancelled.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March 26, 2025, the Company formed Wizz Banger, Inc., a wholly owned subsidiary in the state of Florida in connection with the Company’s plan to develop an enhanced used boat marketplace.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 16, 2026, the Company formed Twin Vee Bahama Group, Inc., a wholly owned subsidiary in the state of Delaware in connection with the proposed merger with USFM (see note below).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 5, 2025, Twin Vee entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”), with Bahama Boat Works, LLC (“Bahama Boat Works”), pursuant to which the Company acquired various tangible and intangible assets (the “Assets”) from Bahama Boat Works relating to the Bahama boat brand (the “Bahama Boat Brand”). Total consideration included a $<span id="xdx_901_eus-gaap--SaleOfStockConsiderationReceivedPerTransaction_c20250601__20250605__us-gaap--AssetsSoldUnderAgreementsToRepurchaseAxis__custom--BahamaBoatBrandMember_zhdHclr8cUbc" title="Stock issued sales consideration">100,000</span> upfront payment and contingent consideration of up to $<span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20250601__20250605__us-gaap--AssetsSoldUnderAgreementsToRepurchaseAxis__custom--BahamaBoatBrandMember_zlRcHuQXrnnf" title="Stock issued sales">2,900,000</span> (the “BBW Contingent Consideration”) based on the future sales of Bahama’s then-existing 35’, 37’ 41’ and 41GT boat models. As of the acquisition date, only the $<span id="xdx_903_ecustom--InventoryPayement_iI_c20250605__us-gaap--AssetsSoldUnderAgreementsToRepurchaseAxis__custom--BahamaBoatBrandMember_zhF2htA6gbsh" title="Inventory payement">100,000</span> payment was recognized and allocated to inventory. Contingent consideration will be recognized as an increase to the cost basis of the acquired boat molds (property, plant &amp; equipment) when it becomes both probable and reasonably estimable, in accordance with ASC 450. No liabilities were assumed, and no goodwill was recorded. The Asset Purchase Agreement may be terminated by mutual written consent of the parties or by the Company, in its sole discretion, if the Company decides to discontinue further development, production, or commercialization of the Bahama Boat Brand product line before the balance of the contingent consideration due to Bahama Boat Works is paid. Upon any such termination, the parties may either seek to sell the Bahama Boat Brand and associated assets pursuant to the mechanism set forth in the Asset Purchase Agreement described below or, the Company, in its sole discretion, may elect to return the Assets to Bahama Boat Works.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Defective State of Nevada Reincorporation</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">On April 10, 2026, the Company purported to effect its reincorporation from the State of Delaware to the State of Nevada through the filing of Articles of Conversion/Exchange/Merger and Articles of Incorporation in the State of Nevada, together with a Certificate of Conversion which was filed with the Secretary of State of the State of Delaware. On August 4, 2026, after discovering that the reincorporation was not approved by a sufficient number of shares of Common Stock in Delaware, the Company submitted for filing (a) a Certificate of Correction and a Certificate of Dissolution/Withdrawal Profit Corporation in the State of Nevada and (b) a Certificate of Correction in the State of Delaware, in each case, to revoke the previously-filed defective Articles of Conversion/Exchange/Merger and Articles of Incorporation and to render null and void the Certificate of Conversion, respectively. Separately, as described in the proxy statement filed by the Company with the SEC on August 17, 2026 (the “Proxy Statement”), the Company sought stockholder approval to ratify the Reverse Stock Split which had been reflected in the Nevada articles of incorporation amendment filed with the State of Nevada on April 30, 2026, with an effective date of May 4, 2026. In light of the defective corporate acts referred to above, the Company did not effectively reincorporate to Nevada. By virtue of the Certificate of Correction filed with the Secretary of State of the State of Delaware, the Company corrected its status as a Delaware corporation. The Company’s Delaware-filed certificate of incorporation and Delaware bylaws, as amended, are the Company’s currently effective constituent documents. </span>On September 8, 2026, following receipt of stockholder approval for the Ratification Proposal (as defined in the Proxy Statement), the Company filed with the Delaware Secretary of State a Certificate of Validation of Certificate of Amendment (the “Certificate”) to give effect to the Reverse Stock Split. The Certificate was deemed to have become effective as of May 4, 2026 at 12:01 a.m., Eastern Time.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>USFM Merger</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 12, 2026, the Company, USFM Corporation, a Colorado corporation (the “Acquiror” or “USFM”), USFM Merger Sub Inc., a Nevada corporation and wholly-owned subsidiary of the Acquiror, entered into an Agreement and Plan of Merger (the “Original Merger Agreement”), pursuant to which, on the terms and subject to the conditions set forth in the USFM Merger Agreement, Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation in the Merger as a wholly owned subsidiary of Acquiror. On October 7, 2026, the Company, USFM Corporation, Twin Vee Holdco Inc., a Texas corporation and a wholly owned subsidiary of the Company (“Pubco”), Twin Vee Merger Sub Inc., a Delaware corporation and wholly-owned subsidiary of Pubco (“Merger Sub I”), and USFM Merger Sub Inc., a Colorado corporation and wholly-owned subsidiary of Pubco (“Merger Sub II”), entered into an Amended and Restated Agreement and Plan of Merger (the “A&amp;R Merger Agreement”), pursuant to which, on the terms and subject to the conditions set forth in the A&amp;R Merger Agreement, (a) Merger Sub I will merge with and into the Company (the “First Merger”), with the Company continuing as the surviving corporation in the First Merger (the “Surviving Company”) as a wholly owned subsidiary of Pubco and (b) Merger Sub II will merge with and into USFM (the “Second Merger” and, together with the First Merger, the “Mergers”), with USFM Corporation continuing as the surviving corporation in the Second Merger (the “Surviving Corporation”) as a wholly owned subsidiary of Pubco. The A&amp;R Merger Agreement amends and restates the Original Merger Agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">On the terms and subject to the conditions set forth in the A&amp;R Merger Agreement, at the effective time of the First Merger (the “First Effective Time”), and as a result of the First Merger, each share of common stock, par value $0.001 per share, of the Company (the “Shares”), that is issued and outstanding immediately prior to the First Effective Time (other than certain Shares to be canceled pursuant to the terms of the A&amp;R Merger Agreement and Dissenting Shares (as defined in the A&amp;R Merger Agreement)) will be converted into the right to receive a pro rata portion of an aggregate number of shares of Pubco’s common stock, par value $0.01 per share (“Pubco Shares”), that represent 7% of the issued and outstanding Pubco Shares immediately following the effective time of the Second Merger (the “Second Effective Time”), calculated on a fully diluted basis (the “Company Consideration Shares”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In addition, pursuant to the A&amp;R Merger Agreement, effective as of the First Effective Time, automatically and without any action on the part of the holder thereof, (a) each Company Convertible Security (as defined in the A&amp;R Merger Agreement) shall be accelerated and fully vested, and converted into the right to receive a pro rata portion of the Company Consideration Shares and (b) each Company Common Stock Warrant (as defined in the A&amp;R Merger Agreement) shall be assumed by the Surviving Company and shall become a corresponding warrant of Pubco.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company is subject to customary restrictions on its ability to solicit alternative acquisition proposals from third parties and to provide information to, and enter into discussions or negotiations with, third parties regarding alternative acquisition proposals. However, prior to the receipt of the approval of the transactions contemplated by the A&amp;R Merger Agreement from the Company’s stockholders, the solicitation restrictions are subject to a customary “fiduciary-out” provision that allows the Company, under certain circumstances, to provide information to and participate in negotiations or discussions with third parties with respect to an alternative acquisition proposal if it determines in good faith, after consultation with outside legal counsel, that the failure to take such action would reasonably be expected to be a violation of the Company’s board of directors’ fiduciary duties under applicable law. In addition, the Company’s board of directors, after satisfying certain notice requirements to USFM, may change its recommendation with respect to the Mergers if it determines in good faith, after consultation with outside legal counsel, that the failure to do so under certain circumstances specified in the A&amp;R Merger Agreement would reasonably be expected to be a violation of the Company’s board of directors’ fiduciary duties under applicable law.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The A&amp;R Merger Agreement contains certain termination rights, and provides that, upon termination of the A&amp;R Merger Agreement under specified circumstances, USFM may be required to pay the Company a termination fee of $500,000 and the Company may be required to pay USFM a termination fee of $800,000. Specifically, if the A&amp;R Merger Agreement is terminated (a) in connection with a failure of USFM to obtain its stockholders approval of the Mergers or (b) subject to certain conditions, in the event the Mergers are not consummated prior to the “end date” of December 31, 2026, then, in either case, the $500,000 termination fee will be payable by USFM to the Company upon termination of the A&amp;R Merger Agreement. In addition, if the Company terminates the A&amp;R Merger Agreement (x) to accept a Superior Proposal (as defined in the A&amp;R Merger Agreement) in compliance with the terms of the A&amp;R Merger Agreement, (y) after the Company shall have (i) within ten (10) Business Days of a tender or exchange offer relating to securities of the Company having been commenced, failed to publicly recommend against such tender or exchange offer, (ii) the Company shall have failed to publicly reaffirm its recommendation of the First Merger within 10 Business Days after the date any Acquisition Proposal (as such term is defined in the A&amp;R Merger Agreement) shall have been announced, or (iii) a willful or material breach by the Company of the exclusivity provisions of the A&amp;R Merger Agreement shall have occurred, or (z) following USFM’s determination that the Company will likely fail to resolve the Reincorporation Matter (as defined in the A&amp;R Merger Agreement) (i) prior to December 31, 2026 or (ii) in a manner satisfactory to USFM in its sole discretion, then, in any such case, the $800,000 termination fee will be payable by the Company to USFM upon termination of the A&amp;R Merger Agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The A&amp;R Merger Agreement contains customary representations, warranties and covenants of the Company, Pubco, the Merger Subs and USFM, including, among others, covenants that: (a) each party will conduct its business in the ordinary course of its business during the interim period between the execution of the A&amp;R Merger Agreement and the Second Effective Time or earlier termination of the A&amp;R Merger Agreement, (b) each party will not engage in certain types of transactions or take certain actions outside the ordinary course during such period without the prior consent of the other party, and (c) USFM will use its reasonable best efforts to take all actions necessary, proper or advisable to consummate the transactions contemplated by the PIPE Investment (as such term is defined in the A&amp;R Merger Agreement). The A&amp;R Merger Agreement also requires each of the Company and USFM to call and hold a stockholder meeting and for the Company’s board of directors to recommend that the Company’s stockholders approve the A&amp;R Merger Agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Without limiting the generality of the foregoing, pursuant to the A&amp;R Merger Agreement, prior to the closing of the Mergers, the Company, Twin Vee Bahama Group, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Assetco”), and a to be formed Delaware contingent value rights trust (the “Trust”), must consummate the Pre-Closing CVR Restructuring (as defined below) pursuant to which such parties shall: (a) form Assetco as a wholly-owned subsidiary of the Company; (b) cause the contribution of all of the Company Assets and Liabilities (as defined in the A&amp;R Merger Agreement to generally include all of the Company’s assets and liabilities (including the BBW Contingent Consideration referred to above) other than $700,000 in cash and the liabilities related to the Delaware Matter (as defined in the A&amp;R Merger Agreement), which must be retained by the Company as of the Closing) from the Company to Assetco in exchange for all of Assetco’s issued and outstanding shares of capital stock (the “Assetco</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Consummation of the Mergers is subject to various conditions, including (a) obtaining requisite approval of the Mergers from the Company’s and USFM’s stockholders, (b) the Registration Statement (as defined in the A&amp;R Merger Agreement) filed by Pubco with the SEC becoming effective, (c) the absence of certain laws or orders issued by certain specified governmental entities making illegal or permanently enjoining or prohibiting the Mergers, (d) the Company Consideration Shares being approved for listing on the NYSE, NYSE American, or another applicable stock exchange, (e) the accuracy of the representations and warranties made by the parties, subject to certain exceptions, (f) the absence of a material adverse effect on either party that is continuing, (g) consummation of the Pre-Closing CVR Restructuring, and (h) delivery of a fairness opinion.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p id="xdx_84B_ecustom--SubstantialDoubtAboutGoingConcernPolicyTextBlock_zJUGlJg97p3e" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_869_zD5ypeuy0td3">Going Concern</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our unaudited condensed consolidated financial statements for the three and nine months ended September 30, 2026 were prepared under the assumption that we will continue as a going concern; however, we have incurred significant losses from operations to date and we expect our revenues will not increase sufficiently nor our expenses to decline sufficiently to achieve cash-flow breakeven in the short-term. These factors raise substantial doubt about our ability to continue as a going concern for one year after the condensed consolidated financial statements included in this Quarterly Report are issued.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the year ended December 31, 2025, we incurred a loss from operations of $<span id="xdx_901_eus-gaap--OperatingIncomeLoss_iN_di_c20250101__20251231_zhU2GPd7YdOc" title="Net loss from operations">8,781,299</span> and a net loss of $<span id="xdx_90E_eus-gaap--ProfitLoss_iN_di_c20250101__20251231_zhhn6zU5eZha" title="Net loss">8,607,273</span>. For the nine months ended September 30, 2026, we incurred a loss from operations of $<span id="xdx_902_eus-gaap--OperatingIncomeLoss_iN_di_c20260101__20260930_zKFDbuQ7O557" title="Net loss from operations">8,266,347</span> and a net loss of $<span id="xdx_904_eus-gaap--ProfitLoss_iN_di_c20260101__20260930_z9iP1Ibchc4" title="Net loss">8,005,342</span>. As of September 30, 2026, we had accumulated deficits of $<span id="xdx_901_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_di_c20260930_zdj7JMhuQhth" title="Accumulated deficits">42,005,570</span>. To address these conditions:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">We closed three equity offerings during the first quarter of 2026 totaling <span id="xdx_904_eus-gaap--SharesIssued_iI_c20260930_zsCyqke0VH1a" title="Shares issued">468,862</span> shares of common stock for total net proceeds of $5,800,025.</td></tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of September 30, 2026, we maintain a cash, cash equivalents and restricted cash balance of $<span id="xdx_909_ecustom--RestrictedCashBalance_iI_c20260930_zmubU6skNhz6" title="Restricted cash balance">1,828,616</span>.</td></tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">During the fourth quarter of 2025, we completed the sale of our Marion, North Carolina facility, generating $<span id="xdx_900_ecustom--CashPayments_iI_c20251231_zZYUQThnF5N3" title="Cash payments">500,000</span> in cash in the fourth quarter of 2025, and expected cash payments of $500,000 in 2026 and $3,250,000 in 2027, plus interest at 5%.</td></tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Management continues to implement cost controls, operational improvements, and revenue initiatives to further strengthen our financial position.</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Despite our ongoing efforts to mitigate these conditions, there can be no assurance that our expenses will not increase in future periods or that the cash generated from operations in future periods will be sufficient to satisfy our operating needs. If we need to raise additional capital to fund our continued operations, there can be no assurance that funding will be available on acceptable terms on a timely basis, or at all. The various ways that we could raise capital carry potential risks. Any additional sources of financing will likely involve the issuance of our equity securities, which will have a dilutive effect on our stockholders. Any debt financing, if available, may involve restrictive covenants that may impact our ability to conduct our business. If we do not succeed in raising additional funds on acceptable terms or at all, we may be unable to fill new orders and develop new products. As such, we cannot conclude that such plans will be effectively implemented within one year after the date that the condensed consolidated financial statements included in this Quarterly Report are filed with the SEC, and there is uncertainty regarding our ability to maintain liquidity sufficient to operate our business effectively, which raises substantial doubt about our ability to continue as a going concern. If we are unable to generate sufficient revenue from operations and/or raise capital when needed or on attractive terms, we may be forced to delay, reduce or eliminate efforts to expand our dealer network or develop new models and may be forced to cease operations or liquidate assets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_842_eus-gaap--ConsolidationPolicyTextBlock_zZL4Gkuvd5Ce" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_86B_z5OSSkawS9Dh">Principles of Consolidation</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The condensed consolidated financial statements include the accounts of Twin Vee and its wholly owned subsidiaries as of September 30, 2026, Forza, Wizz Banger, Inc.,and Twin Vee Bahama Group, Inc., collectively referred to as the “Company”. All inter-company balances and transactions are eliminated in consolidation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p id="xdx_841_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zpp1Q56pnqb9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_865_zNPgnXjH4o73">Basis of Presentation</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying condensed consolidated financial statements and the related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of September 30, 2026 and the results of operations and cash flows for the periods presented. The results of operations for the three and nine months ended September 30, 2026 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited condensed consolidated financial statements should be read in conjunction with the financial statements and related notes thereto for the year ended December 31, 2025, which are included in the Company’s Annual Report on Form 10-K filed with the SEC on February 27, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_847_eus-gaap--RevenueRecognitionPolicyTextBlock_zq0GpAJr3iN" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86F_zkeUSPlEvZg5">Revenue Recognition</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s revenue is derived primarily from the sale of boats, motors and trailers to its independent dealers. The Company recognizes revenue when obligations under the terms of a contract are satisfied and control over promised goods is transferred to the dealer. For the majority of sales, this occurs when the product is released to the carrier responsible for transporting it to a dealer. The Company typically receives payment within five business days of shipment. Revenue is measured as the amount of consideration it expects to receive in exchange for a product. The Company offers dealer incentives that include wholesale rebates, retail rebates and promotions, floor plan reimbursement or cash discounts, and other allowances that are recorded as reductions of revenues in net sales in the condensed consolidated statements of operations. The consideration recognized represents the amount specified in a contract with a customer, net of estimated incentives the Company reasonably expects to pay. The estimated liability and reduction in revenue for dealer incentives is recorded at the time of sale. Subsequent adjustments to incentive estimates are possible because actual results may differ from these estimates if conditions dictate the need to enhance or reduce sales promotion and incentive programs or if dealer achievement or other items vary from historical trends. Accrued dealer incentives, if any, are included in accrued liabilities in the accompanying condensed consolidated balance sheets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We had no accounts receivable at September 30, 2026 and December 31, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Payment received for the future sale of a boat to a customer is recognized as a customer deposit. Customer deposits are recognized as revenue when control over promised goods is transferred to the customer. At September 30, 2026 and December 31, 2025, the Company had customer deposits of $<span id="xdx_908_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_c20260930_zamEgTqw96nc" title="Contract liabilities">1,196,786</span> and $<span id="xdx_90D_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_c20251231_zHhxnRDwEjU5" title="Contract liabilities">395,932</span>, respectively, which are recorded as contract liabilities on the condensed consolidated balance sheets. These deposits are refundable and are recognized as revenue when the related boat is delivered, generally within 90 days.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_846_ecustom--RebatesAndDiscountsPolicyTextBlock_zZ5VKLK8izG1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span id="xdx_861_zsPfvWoLpICi">Rebates and Discounts</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dealers earn wholesale rebates based on purchase volume commitments and achievement of certain performance metrics. The Company estimates the amount of wholesale rebates based on historical achievement, forecasted volume, and assumptions regarding dealer behavior. Rebates that apply to boats already in dealer inventory are referred to as retail rebates. The Company estimates the amount of retail rebates based on historical data for specific boat models adjusted for forecasted sales volume, product mix, dealer and consumer behavior, and assumptions concerning market conditions. The Company also utilizes various programs whereby it offers cash discounts or agrees to reimburse its dealers for certain floor plan interest costs incurred by dealers for limited periods of time, generally ranging up to nine months.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_84E_ecustom--OtherRevenueRecognitionMattersPolicyTextBlock_zDpgGWYqn1cf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span id="xdx_86B_z3KwdYOFK6Jh">Other Revenue Recognition Matters</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dealers generally have no right to return unsold boats. Occasionally, the Company may accept returns in limited circumstances and at the Company’s discretion under its warranty policy. The Company may be obligated, in the event of default by a dealer, to accept returns of unsold boats under its repurchase commitment to floor financing providers, who are able to obtain such boats through foreclosure. The repurchase commitment is on an individual unit basis with a term from the date it is financed by the lending institution through the payment date by the dealer, generally not exceeding 30 months.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has excluded sales and other taxes assessed by a governmental authority in connection with revenue-producing activities from the determination of the transaction price for all contracts. The Company has not adjusted net sales for the effects of a significant financing component because the period between the transfer of the promised goods and the customer’s payment is expected to be one year or less.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_84F_eus-gaap--UseOfEstimates_zrlP4jt9hwd3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86A_zW14tKIyyHb5">Use of Estimates</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of expenses during the reporting period. Some of these judgments can be subjective and complex, and, consequently, actual results may differ from these estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zsslECbLXGgk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86D_z9JybzqOFW6k">Concentration of Credit and Business Risk</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial instruments that potentially subject the Company to concentration of credit risk primarily consist of trade receivables. Credit risk on trade receivables is mitigated as a result of the Company’s use of trade letters of credit, dealer floor plan financing arrangements, and the geographically diversified nature of the Company’s customer base. The Company minimizes the concentration of credit risk associated with its cash by maintaining its cash with high quality federally insured financial institutions. However, cash balances in excess of the Federal Deposit Insurance Corporation (“FDIC”) insured limit of $<span id="xdx_90A_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_c20260930_zfWdq6lioN7i" title="FDIC insured limit">250,000</span> are at risk. As of September 30, 2026 and December 31, 2025, the Company had $<span id="xdx_900_eus-gaap--CashUninsuredAmount_iI_pp0p0_c20260930_zOFUKSMn1jt" title="FDIC uninsured amount">1,182,262</span> and $<span id="xdx_900_eus-gaap--CashUninsuredAmount_iI_pp0p0_c20251231_zPX00q8zFW4i" title="FDIC uninsured amount">798,146</span>, respectively, in excess of FDIC insured limits.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_848_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zxtN4v7fgq4l" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><i><span id="xdx_861_zvMy3Wb73Ck1">Cash, Cash Equivalents and Restricted Cash</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cash and cash equivalents include all highly liquid investments with original maturities of three months or less at the time of purchase. On September 30, 2026 and December 31, 2025, the Company had cash, cash equivalents, and restricted cash of $<span id="xdx_90F_eus-gaap--Cash_iI_c20260930_znDwDwpO6nDf" title="Cash cash equivalents">1,828,616</span> and $<span id="xdx_908_eus-gaap--Cash_iI_c20251231_zwFOYvrEa71i" title="Cash cash equivalents">1,646,695</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Restricted cash includes amounts that are collected and are held in connection with assets securing certain of the Company’s financing transactions. Restricted cash is restricted for payment of interest expense and principal on the outstanding borrowings. On September 30, 2026 and December 31, 2025, included within restricted cash on the Company’s condensed consolidated balance sheets is an irrevocable letter of credit for $<span id="xdx_905_eus-gaap--RestrictedCash_iI_pp0p0_c20260930_z38oNvprgMO7" title="Restricted cash">208,143</span> and $<span id="xdx_901_eus-gaap--RestrictedCash_iI_pp0p0_c20251231_z8FCB2Cwj4l3" title="Restricted cash">215,117</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_84F_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zxqj07SjLWv3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_867_zcl1C5cbpA4d">Fair Value of Financial Instruments</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company follows accounting guidelines on fair value measurements for financial instruments measured on a recurring basis, as well as for certain assets and liabilities that are initially recorded at their estimated fair values. Fair value is defined as the exit price, or the amount that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The Company uses the following three-level hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs to value its financial instruments:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 1: Observable inputs such as unadjusted quoted prices in active markets for identical instruments.</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2: Quoted prices for similar instruments that are directly or indirectly observable in the marketplace.</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3: Significant unobservable inputs which are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires a significant judgment or estimation.</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial instruments measured as fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires it to make judgments and consider factors specific to the asset or liability. The use of different assumptions and/or estimation methodologies may have a material effect on estimated fair values. Accordingly, the fair value estimates disclosed, or initial amounts recorded may not be indicative of the amount that the Company or holders of the instruments could realize in a current market exchange.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The carrying amounts of cash equivalents approximate their fair value due to their liquid or short-term nature, such as accounts receivable and payable, and other financial instruments in current assets or current liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_847_eus-gaap--InventoryPolicyTextBlock_zzXKFoc97P97" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_869_zWAJZBkgdogf">Inventories</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Inventories are valued at the lower of cost and net realizable value, with cost determined using the weighted average cost method. Net realizable value is defined as sales price less cost of completion, disposable and transportation and a normal profit margin. Production costs, consisting of labor and overhead, are applied to ending finished goods inventories at a rate based on estimated production capacity. Excess production costs are charged to cost of products sold. Provisions have been made to reduce excess or obsolete inventories to their net realizable value.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At September 30, 2026 and December 31, 2025, the provision for excess or obsolete inventories is $<span id="xdx_906_eus-gaap--InventoryWriteDown_c20260101__20260930_zKmljcA0Dmp8" title="Provisions for excess and obsolete inventories">470,552</span> and $<span id="xdx_90E_eus-gaap--InventoryWriteDown_c20250101__20251231_zgPQ0QXkud99" title="Provisions for excess and obsolete inventories">224,720</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_846_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zBKRGvckb3d8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86B_z4q3NBK32Iw5">Property and Equipment</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Property and equipment is stated at cost, net of accumulated depreciation and amortization, using the straight-line method over the assets’ useful life. Leasehold improvements are amortized over the shorter of the assets’ useful life or the lease term. The estimated useful lives of property and equipment range from three to five years. Upon sale or retirement, the cost and related accumulated depreciation is eliminated from their respective accounts, and the resulting gain or loss is included in results of operations. Repairs and maintenance charges, which do not increase the useful lives of the assets, are charged to operations as incurred. The Company utilizes the following depreciable lives:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfPublicUtilityPropertyPlantAndEquipmentTextBlock_zwN7a5KoECm9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Organization and Summary of Significant Accounting Policies (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"> <span id="xdx_8B2_z28s13sWJGWb" style="display: none">Schedule of property and equipment</span> </td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">Depreciable Life</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">in years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Machinery and equipment</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"><span id="xdx_90E_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_zhvTJ5HlZLu1" title="Property and equipment depreciable life">3</span>-<span id="xdx_908_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MaximumMember_zlyKFaxFjM98" title="Property and equipment depreciable life">20</span></td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Furniture and fixtures</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"><span id="xdx_902_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zRdZAmV04r4a" title="Property and equipment depreciable life">5</span>-<span id="xdx_904_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zOJdS8qsuO21" title="Property and equipment depreciable life">7</span></td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 70%; text-align: left; text-indent: -10pt">Software and website development</td> <td style="width: 10%"> </td> <td style="width: 1%; text-align: center"> </td> <td style="width: 18%; text-align: center"><span id="xdx_90B_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SoftwareAndWebsiteDevelopmentMember_zPtSOQTv7FJ5" title="Property and equipment depreciable life">5</span></td> <td style="width: 1%; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Computer hardware and software</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"><span id="xdx_904_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerHardwareAndSoftwareMember_zffvmgGyoxH2" title="Property and equipment depreciable life">5</span></td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Boat molds</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"><span id="xdx_907_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BoatMoldsMember__srt--RangeAxis__srt--MinimumMember_zBV7gvB01yve" title="Property and equipment depreciable life">5</span>-<span id="xdx_903_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BoatMoldsMember__srt--RangeAxis__srt--MaximumMember_zDq9uAixNcZf" title="Property and equipment depreciable life">15</span></td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Vehicles</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"><span id="xdx_90B_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zWoFTXtd2my4" title="Property and equipment depreciable life">5</span></td> <td style="text-align: center"> </td></tr> </table> <p id="xdx_8AD_zXoimq5TW441" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p id="xdx_848_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zGmZUgn0OKLk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_860_zKjJHQ2KNmx9">Impairment of Long-Lived Assets</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management assesses the recoverability of its long-lived assets when indicators of impairment are present. If such indicators are present, recoverability of these assets is determined by comparing the undiscounted net cash flows estimated to result from those assets over the remaining life to the assets’ net carrying amounts. If the estimated undiscounted net cash flows are less than the net carrying amount, the assets would be adjusted to their fair value, based on appraisal or the present value of the undiscounted net cash flows.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the second quarter of 2026, the Company recorded a non-cash impairment charge of approximately $<span id="xdx_90B_ecustom--NoncashImpairmentCharges_iI_c20260930_zph8ZjX9nn43" title="Non-cash impairment charges">699,710</span> related to capitalized software development costs. The software platform was developed and commercialized during 2025 with the expectation of generating future revenues through licensing, subscription arrangements, customer access fees, and other commercialization opportunities. Following commercialization, management actively pursued customer adoption, strategic partnerships, and other monetization initiatives. After evaluating market demand, expected future investment requirements, strategic priorities, and the absence of supportable future revenue opportunities, management determined during the second quarter of 2026 to discontinue commercialization efforts and abandon the software as a revenue-generating initiative. As a result, the Company concluded that the carrying value of the software was no longer recoverable and recorded a full impairment charge of $699,710, representing the remaining net book value of the asset.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_846_ecustom--NotesReceivableTextBlock_zJ0SehIVtYNf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_865_zGEScx3KigJ8">Notes Receivable</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company records long-term notes receivable at their principal amount, net of an original issue discount, which represents the difference between the stated principal and the present value of future cash flows discounted using the interest rate implicit in the loan. The discount is amortized to interest income over the term of the note using the effective interest method. Accrued interest is recorded as earned. Management evaluates notes receivable for collectability and records an allowance for credit losses when necessary based on expected credit losses, historical experience, and current conditions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_848_eus-gaap--ExtendedProductWarrantyPolicy_zNXerCWtuNYi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_868_z5Fw58HRCazb">Product Warranty Costs</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company accrues for warranty costs based on the expected material and labor costs to provide warranty replacement products. The methodology used in determining the liability for warranty cost is based upon historical information and experience. The Company’s warranty reserve is calculated as the gross sales multiplied by the historical warranty expense return rate. The Company’s warranty liability is included in the accrued liabilities line item of the accompanying condensed consolidated balance sheets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_849_eus-gaap--AdvertisingCostsPolicyTextBlock_zKk7ei4zFRSe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_868_zzLaMVl0zTW9">Advertising</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended September 30, 2026 and 2025, advertising costs incurred by the Company totaled $<span id="xdx_90D_eus-gaap--AdvertisingExpense_c20260107__20260930_zSP03P2wutj7" title="Advertising costs">21,598</span> and $17,299, respectively, and are included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> Advertising and marketing costs are expensed as incurred. During the nine months ended September 30, 2026 and 2025, advertising costs incurred by the Company totaled $<span id="xdx_908_eus-gaap--AdvertisingExpense_c20260101__20260930_zNBChhSyeW39" title="Advertising costs">114,979</span> and $<span id="xdx_90A_eus-gaap--AdvertisingExpense_c20250101__20250930_zl47f3Kiybpj" title="Advertising costs">41,238</span>, respectively, and are included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_84D_ecustom--ShippingAndHandlingCostsPolicyTextBlock_zSJQeW6ZamN7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_865_zLhc9pgufv9a">Shipping and Handling Costs</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Shipping and handling costs includes those costs incurred to transport product to customers and internal handling costs, which relate to activities to prepare goods for shipment. The Company has elected to account for shipping and handling costs associated with outbound freight after control over a product has transferred to a customer as a fulfillment cost. The Company includes shipping and handling costs, including cost billed to customers, in cost of products sold in the condensed consolidated statements of operations. All manufactured boats are free on board (FOB), from the Fort Pierce manufacturing plant. Dealers are required to either pick up the boats themselves or contract with a transporter. For the three months ended September 30, 2026 and 2025, shipping and handling costs amounted to $<span id="xdx_904_ecustom--ShippingAndHandlingCosts_c20260107__20260930_zdcP4JrPaVRi" title="Shipping and handling costs">34,672</span> and $<span id="xdx_900_ecustom--ShippingAndHandlingCosts_c20250107__20250930_zQy3GLPOyWsl" title="Shipping and handling costs">38,786</span>, respectively. For the nine months ended September 30, 2026 and 2025, shipping and handling costs amounted to $<span id="xdx_90F_ecustom--ShippingAndHandlingCosts_c20260101__20260930_z3GrnANTtem3" title="Shipping and handling costs">157,310</span> and $<span id="xdx_900_ecustom--ShippingAndHandlingCosts_c20250101__20250930_zC4kDVIQuj7c" title="Shipping and handling costs">146,469</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_842_eus-gaap--LesseeLeasesPolicyTextBlock_zxxZNVj4kJn9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86C_zwkKXa3mJ9fh">Leases</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is a lessee in multiple noncancelable operating and financing leases. If the contract provides the Company with the right to substantially all the economic benefits and the right to direct the use of the identified asset, it is generally considered to be or contain a lease. Right-of-Use (ROU) assets and lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments over the expected lease term. The ROU asset is also adjusted for any lease prepayments made, lease incentives received, and initial direct costs incurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The lease liability is initially and subsequently recognized based on the present value of its future lease payments. Variable payments are included in the future lease payments when those variable payments depend on an index or a rate. Increases (decreases) to variable lease payments due to subsequent changes in an index or rate are recorded as variable lease expense (income) in the future period in which they are incurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The discount rate used is the implicit rate in the lease contract, if it is readily determinable, or the Company’s incremental borrowing rate. The Company uses the incremental borrowing rate based on the information available at the commencement date for all leases. The Company’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms and in a similar economic environment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The ROU asset for operating leases is subsequently measured throughout the lease term at the amount of the remeasured lease liability (i.e., present value of the remaining lease payments), plus unamortized initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received, and any impairment recognized. Operating leases with fluctuating lease payments: For operating leases with lease payments that fluctuate over the lease term, the total lease costs are recognized on a straight-line basis over the lease term. The ROU asset for finance leases is amortized on a straight-line basis over the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For all underlying classes of assets, the Company has elected the practical expedient to not recognize ROU assets and lease liabilities for short-term leases that have a lease term of 12 months or less at lease commencement and do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. Leases containing termination clauses in which either party may terminate the lease without cause and the notice period is less than 12 months are generally deemed short-term leases with lease costs included in short term lease expense. The Company recognizes short-term lease cost on a straight-line basis over the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_84A_ecustom--SupplierConcentrationsPolicyTextBlock_zczu06LKWTfc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_865_zYOZbO90JDvj">Supplier Concentrations</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is dependent on the ability of its suppliers to provide products on a timely basis and on favorable pricing terms. The loss of certain principal suppliers or a significant reduction in product availability from principal suppliers could have a material adverse effect on the Company. Business risk insurance is in place to mitigate the business risk associated with sole suppliers for sudden disruptions such as those caused by natural disasters.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is dependent on third-party equipment manufacturers, distributors, and dealers for certain parts and materials utilized in the manufacturing process. During the three months ended September 30, 2026, the Company purchased all engines for its boats under supplier agreements with three vendors (Mercury, Suzuki and Yamaha). Total purchases from these vendors were $<span id="xdx_901_ecustom--AccountsPayableRelatedParty_c20260701__20260930_zF2OAAsRqKCk" title="Total purchases from these vendors">891,930</span>. During the three months ended September 30, 2025, the Company purchased all engines from three vendors (Mercury, Suzuki and Yamaha) for its boats under supplier agreements. Total purchases from these vendors were $<span id="xdx_90C_ecustom--AccountsPayableRelatedParty_c20250701__20250930_zM8eVZ3Fns5j" title="Total purchases from these vendors">742,897</span>. During the nine months ended September 30, 2026, the Company purchased all engines for its boats under supplier agreements with three vendors (Mercury, Suzuki and Yamaha). Total purchases from these vendors were $<span id="xdx_902_ecustom--AccountsPayableRelatedParty_c20260101__20260930_z5iswIX0qXpi" title="Total purchases from these vendors">2,358,863</span>. During the nine months ended September 30, 2025, the Company purchased all engines from three vendors (Mercury, Suzuki and Yamaha) for its boats under supplier agreements. Total purchases from these vendors were $<span id="xdx_903_ecustom--AccountsPayableRelatedParty_c20250101__20250930_zY97bJkFlb32" title="Total purchases from these vendors">1,986,913</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_84E_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zGzUVknzvZv5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> <b><i><span id="xdx_86D_zOFqS6qnpVG5">Stock-Based Compensation</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recognizes stock-based compensation costs for its restricted stock and restricted stock units, measured at the fair value of each award at the time of grant, as an expense over the period during which an employee is required to provide service. Compensation cost is recognized over the service period for the fair value of awards that vest.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_842_eus-gaap--IncomeTaxPolicyTextBlock_ztD6xlq8FaL8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_865_zz7DOY6jdl71">Income Taxes</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating losses. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is entirely dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversals of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company files income tax returns in the U.S. federal jurisdiction and various states.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_845_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zoruLX7EnmT4" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><span id="xdx_86A_z1ZcgzMHUBFc">Recently Issued and Adopted Accounting Pronouncements</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In July 2025, the FASB issued ASU 2025-05, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets”. ASU 2025-05 provides a practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets. ASU 2025-05 is effective for annual reporting periods beginning after December 15, 2025 and interim reporting periods within those annual reporting periods and should be applied prospectively. Early adoption is permitted. The Company adopted the ASU, and the adoption had no material effect on the unaudited condensed consolidated financial statements and related disclosures.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>Recently Issued But Not Yet Adopted Accounting Pronouncements</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In November 2024, the FASB issued ASU 2024-03, <i>Income Statement–Reporting Comprehensive Income–Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expense</i> (“ASU 2024-03”), effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027. The amendments in this update require disclosure, in the notes to the financial statements, of specified information about certain costs and expenses and a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. The Company is currently evaluating the potential impact the adoption of ASU 2024-03 will have on its future disclosures.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <p id="xdx_842_ecustom--OrganizationPolicyTextBlock_zbyd3sJ47sGc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86F_zjkav7IJjQj9">Organization</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Twin Vee PowerCats Co. (“Twin Vee” or the “Company”) was incorporated as Twin Vee Catamarans, Inc., in the state of Florida, on December 1, 2009. On April 7, 2021, the Company filed a Certificate of Conversion to register and incorporate in the state of Delaware and changed the company name to Twin Vee PowerCats Co. The Certificate of Incorporation for Twin Vee PowerCats Co. was also filed on April 7, 2021.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 20, 2023, the Company formed AquaSport Co., a wholly owned subsidiary incorporated in the state of Florida in connection with the Company’s plan to lease the assets of former AQUASPORT™ boat brand and manufacturing facility in White Bluff, Tennessee. On July 30, 2024, AquaSport Co. was merged into Twin Vee PowerCats Co. On May 28, 2025, the Company entered into a Mutual Release Agreement with the lessor, removing all obligations under the lease, and returning to the lessor all property, plant and equipment, brand name and all other leased assets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Forza X1, Inc. was initially incorporated as Electra Power Sports, Inc. on October 15, 2021, and subsequently changed its name to Forza X1, Inc. (“Forza”) on October 29, 2021. Prior to Forza’s incorporation on October 15, 2021, the electric boat business was operated as the Company’s Electra Power Sports™ Division. Following the Company’s initial public offering that closed on July 23, 2021 (the “IPO”), it determined in October 2021 that for several reasons, it would market the Company’s new independent line of electric boats under a new brand name (and new subsidiary). On November 26, 2024 (the “Closing Date”), pursuant to the terms of the Agreement and Plan of Merger, dated as of August 12, 2024 (the “Merger Agreement”), by and between Twin Vee, Twin Vee Merger Sub, Inc. and Forza, Twin Vee Merger Sub, Inc. was merged with and into Forza (the “Merger”), with Forza surviving the Merger as a wholly-owned subsidiary of Twin Vee. At the effective time of the Merger, (a) each outstanding share of common stock of Forza, par value $<span id="xdx_902_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20260930__us-gaap--RelatedPartyTransactionAxis__custom--ForzaCommonStockMember_zpuMO4jqgUSc" title="Common stock par value per share">0.001</span> per share of Forza (the “Forza Common Stock”) (other than any shares held by Twin Vee) was converted into the right to receive 0.611666275 shares of Twin Vee common stock, par value $0.001 per share (the “Twin Vee Common Stock”), (b) each outstanding Forza stock option, whether vested or unvested, that had not previously been exercised prior to such time was converted into an option to purchase 0.611666275 shares of Twin Vee Common Stock for each share of Forza Common Stock covered by such option, (c) each outstanding warrant to purchase shares of Forza Common Stock was assumed by Twin Vee and converted into a warrant to purchase 0.611666275 shares of Twin Vee Common Stock for each share of Forza Common Stock for which such warrant was exercisable for prior to the effective time of the Merger, and (d) the 7,000,000 shares of Forza Common Stock held by Twin Vee were cancelled.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March 26, 2025, the Company formed Wizz Banger, Inc., a wholly owned subsidiary in the state of Florida in connection with the Company’s plan to develop an enhanced used boat marketplace.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 16, 2026, the Company formed Twin Vee Bahama Group, Inc., a wholly owned subsidiary in the state of Delaware in connection with the proposed merger with USFM (see note below).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 5, 2025, Twin Vee entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”), with Bahama Boat Works, LLC (“Bahama Boat Works”), pursuant to which the Company acquired various tangible and intangible assets (the “Assets”) from Bahama Boat Works relating to the Bahama boat brand (the “Bahama Boat Brand”). Total consideration included a $<span id="xdx_901_eus-gaap--SaleOfStockConsiderationReceivedPerTransaction_c20250601__20250605__us-gaap--AssetsSoldUnderAgreementsToRepurchaseAxis__custom--BahamaBoatBrandMember_zhdHclr8cUbc" title="Stock issued sales consideration">100,000</span> upfront payment and contingent consideration of up to $<span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20250601__20250605__us-gaap--AssetsSoldUnderAgreementsToRepurchaseAxis__custom--BahamaBoatBrandMember_zlRcHuQXrnnf" title="Stock issued sales">2,900,000</span> (the “BBW Contingent Consideration”) based on the future sales of Bahama’s then-existing 35’, 37’ 41’ and 41GT boat models. As of the acquisition date, only the $<span id="xdx_903_ecustom--InventoryPayement_iI_c20250605__us-gaap--AssetsSoldUnderAgreementsToRepurchaseAxis__custom--BahamaBoatBrandMember_zhF2htA6gbsh" title="Inventory payement">100,000</span> payment was recognized and allocated to inventory. Contingent consideration will be recognized as an increase to the cost basis of the acquired boat molds (property, plant &amp; equipment) when it becomes both probable and reasonably estimable, in accordance with ASC 450. No liabilities were assumed, and no goodwill was recorded. The Asset Purchase Agreement may be terminated by mutual written consent of the parties or by the Company, in its sole discretion, if the Company decides to discontinue further development, production, or commercialization of the Bahama Boat Brand product line before the balance of the contingent consideration due to Bahama Boat Works is paid. Upon any such termination, the parties may either seek to sell the Bahama Boat Brand and associated assets pursuant to the mechanism set forth in the Asset Purchase Agreement described below or, the Company, in its sole discretion, may elect to return the Assets to Bahama Boat Works.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Defective State of Nevada Reincorporation</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">On April 10, 2026, the Company purported to effect its reincorporation from the State of Delaware to the State of Nevada through the filing of Articles of Conversion/Exchange/Merger and Articles of Incorporation in the State of Nevada, together with a Certificate of Conversion which was filed with the Secretary of State of the State of Delaware. On August 4, 2026, after discovering that the reincorporation was not approved by a sufficient number of shares of Common Stock in Delaware, the Company submitted for filing (a) a Certificate of Correction and a Certificate of Dissolution/Withdrawal Profit Corporation in the State of Nevada and (b) a Certificate of Correction in the State of Delaware, in each case, to revoke the previously-filed defective Articles of Conversion/Exchange/Merger and Articles of Incorporation and to render null and void the Certificate of Conversion, respectively. Separately, as described in the proxy statement filed by the Company with the SEC on August 17, 2026 (the “Proxy Statement”), the Company sought stockholder approval to ratify the Reverse Stock Split which had been reflected in the Nevada articles of incorporation amendment filed with the State of Nevada on April 30, 2026, with an effective date of May 4, 2026. In light of the defective corporate acts referred to above, the Company did not effectively reincorporate to Nevada. By virtue of the Certificate of Correction filed with the Secretary of State of the State of Delaware, the Company corrected its status as a Delaware corporation. The Company’s Delaware-filed certificate of incorporation and Delaware bylaws, as amended, are the Company’s currently effective constituent documents. </span>On September 8, 2026, following receipt of stockholder approval for the Ratification Proposal (as defined in the Proxy Statement), the Company filed with the Delaware Secretary of State a Certificate of Validation of Certificate of Amendment (the “Certificate”) to give effect to the Reverse Stock Split. The Certificate was deemed to have become effective as of May 4, 2026 at 12:01 a.m., Eastern Time.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>USFM Merger</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 12, 2026, the Company, USFM Corporation, a Colorado corporation (the “Acquiror” or “USFM”), USFM Merger Sub Inc., a Nevada corporation and wholly-owned subsidiary of the Acquiror, entered into an Agreement and Plan of Merger (the “Original Merger Agreement”), pursuant to which, on the terms and subject to the conditions set forth in the USFM Merger Agreement, Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation in the Merger as a wholly owned subsidiary of Acquiror. On October 7, 2026, the Company, USFM Corporation, Twin Vee Holdco Inc., a Texas corporation and a wholly owned subsidiary of the Company (“Pubco”), Twin Vee Merger Sub Inc., a Delaware corporation and wholly-owned subsidiary of Pubco (“Merger Sub I”), and USFM Merger Sub Inc., a Colorado corporation and wholly-owned subsidiary of Pubco (“Merger Sub II”), entered into an Amended and Restated Agreement and Plan of Merger (the “A&amp;R Merger Agreement”), pursuant to which, on the terms and subject to the conditions set forth in the A&amp;R Merger Agreement, (a) Merger Sub I will merge with and into the Company (the “First Merger”), with the Company continuing as the surviving corporation in the First Merger (the “Surviving Company”) as a wholly owned subsidiary of Pubco and (b) Merger Sub II will merge with and into USFM (the “Second Merger” and, together with the First Merger, the “Mergers”), with USFM Corporation continuing as the surviving corporation in the Second Merger (the “Surviving Corporation”) as a wholly owned subsidiary of Pubco. The A&amp;R Merger Agreement amends and restates the Original Merger Agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">On the terms and subject to the conditions set forth in the A&amp;R Merger Agreement, at the effective time of the First Merger (the “First Effective Time”), and as a result of the First Merger, each share of common stock, par value $0.001 per share, of the Company (the “Shares”), that is issued and outstanding immediately prior to the First Effective Time (other than certain Shares to be canceled pursuant to the terms of the A&amp;R Merger Agreement and Dissenting Shares (as defined in the A&amp;R Merger Agreement)) will be converted into the right to receive a pro rata portion of an aggregate number of shares of Pubco’s common stock, par value $0.01 per share (“Pubco Shares”), that represent 7% of the issued and outstanding Pubco Shares immediately following the effective time of the Second Merger (the “Second Effective Time”), calculated on a fully diluted basis (the “Company Consideration Shares”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In addition, pursuant to the A&amp;R Merger Agreement, effective as of the First Effective Time, automatically and without any action on the part of the holder thereof, (a) each Company Convertible Security (as defined in the A&amp;R Merger Agreement) shall be accelerated and fully vested, and converted into the right to receive a pro rata portion of the Company Consideration Shares and (b) each Company Common Stock Warrant (as defined in the A&amp;R Merger Agreement) shall be assumed by the Surviving Company and shall become a corresponding warrant of Pubco.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company is subject to customary restrictions on its ability to solicit alternative acquisition proposals from third parties and to provide information to, and enter into discussions or negotiations with, third parties regarding alternative acquisition proposals. However, prior to the receipt of the approval of the transactions contemplated by the A&amp;R Merger Agreement from the Company’s stockholders, the solicitation restrictions are subject to a customary “fiduciary-out” provision that allows the Company, under certain circumstances, to provide information to and participate in negotiations or discussions with third parties with respect to an alternative acquisition proposal if it determines in good faith, after consultation with outside legal counsel, that the failure to take such action would reasonably be expected to be a violation of the Company’s board of directors’ fiduciary duties under applicable law. In addition, the Company’s board of directors, after satisfying certain notice requirements to USFM, may change its recommendation with respect to the Mergers if it determines in good faith, after consultation with outside legal counsel, that the failure to do so under certain circumstances specified in the A&amp;R Merger Agreement would reasonably be expected to be a violation of the Company’s board of directors’ fiduciary duties under applicable law.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The A&amp;R Merger Agreement contains certain termination rights, and provides that, upon termination of the A&amp;R Merger Agreement under specified circumstances, USFM may be required to pay the Company a termination fee of $500,000 and the Company may be required to pay USFM a termination fee of $800,000. Specifically, if the A&amp;R Merger Agreement is terminated (a) in connection with a failure of USFM to obtain its stockholders approval of the Mergers or (b) subject to certain conditions, in the event the Mergers are not consummated prior to the “end date” of December 31, 2026, then, in either case, the $500,000 termination fee will be payable by USFM to the Company upon termination of the A&amp;R Merger Agreement. In addition, if the Company terminates the A&amp;R Merger Agreement (x) to accept a Superior Proposal (as defined in the A&amp;R Merger Agreement) in compliance with the terms of the A&amp;R Merger Agreement, (y) after the Company shall have (i) within ten (10) Business Days of a tender or exchange offer relating to securities of the Company having been commenced, failed to publicly recommend against such tender or exchange offer, (ii) the Company shall have failed to publicly reaffirm its recommendation of the First Merger within 10 Business Days after the date any Acquisition Proposal (as such term is defined in the A&amp;R Merger Agreement) shall have been announced, or (iii) a willful or material breach by the Company of the exclusivity provisions of the A&amp;R Merger Agreement shall have occurred, or (z) following USFM’s determination that the Company will likely fail to resolve the Reincorporation Matter (as defined in the A&amp;R Merger Agreement) (i) prior to December 31, 2026 or (ii) in a manner satisfactory to USFM in its sole discretion, then, in any such case, the $800,000 termination fee will be payable by the Company to USFM upon termination of the A&amp;R Merger Agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The A&amp;R Merger Agreement contains customary representations, warranties and covenants of the Company, Pubco, the Merger Subs and USFM, including, among others, covenants that: (a) each party will conduct its business in the ordinary course of its business during the interim period between the execution of the A&amp;R Merger Agreement and the Second Effective Time or earlier termination of the A&amp;R Merger Agreement, (b) each party will not engage in certain types of transactions or take certain actions outside the ordinary course during such period without the prior consent of the other party, and (c) USFM will use its reasonable best efforts to take all actions necessary, proper or advisable to consummate the transactions contemplated by the PIPE Investment (as such term is defined in the A&amp;R Merger Agreement). The A&amp;R Merger Agreement also requires each of the Company and USFM to call and hold a stockholder meeting and for the Company’s board of directors to recommend that the Company’s stockholders approve the A&amp;R Merger Agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Without limiting the generality of the foregoing, pursuant to the A&amp;R Merger Agreement, prior to the closing of the Mergers, the Company, Twin Vee Bahama Group, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Assetco”), and a to be formed Delaware contingent value rights trust (the “Trust”), must consummate the Pre-Closing CVR Restructuring (as defined below) pursuant to which such parties shall: (a) form Assetco as a wholly-owned subsidiary of the Company; (b) cause the contribution of all of the Company Assets and Liabilities (as defined in the A&amp;R Merger Agreement to generally include all of the Company’s assets and liabilities (including the BBW Contingent Consideration referred to above) other than $700,000 in cash and the liabilities related to the Delaware Matter (as defined in the A&amp;R Merger Agreement), which must be retained by the Company as of the Closing) from the Company to Assetco in exchange for all of Assetco’s issued and outstanding shares of capital stock (the “Assetco</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Consummation of the Mergers is subject to various conditions, including (a) obtaining requisite approval of the Mergers from the Company’s and USFM’s stockholders, (b) the Registration Statement (as defined in the A&amp;R Merger Agreement) filed by Pubco with the SEC becoming effective, (c) the absence of certain laws or orders issued by certain specified governmental entities making illegal or permanently enjoining or prohibiting the Mergers, (d) the Company Consideration Shares being approved for listing on the NYSE, NYSE American, or another applicable stock exchange, (e) the accuracy of the representations and warranties made by the parties, subject to certain exceptions, (f) the absence of a material adverse effect on either party that is continuing, (g) consummation of the Pre-Closing CVR Restructuring, and (h) delivery of a fairness opinion.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> 0.001 100000 2900000 100000 <p id="xdx_84B_ecustom--SubstantialDoubtAboutGoingConcernPolicyTextBlock_zJUGlJg97p3e" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_869_zD5ypeuy0td3">Going Concern</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our unaudited condensed consolidated financial statements for the three and nine months ended September 30, 2026 were prepared under the assumption that we will continue as a going concern; however, we have incurred significant losses from operations to date and we expect our revenues will not increase sufficiently nor our expenses to decline sufficiently to achieve cash-flow breakeven in the short-term. These factors raise substantial doubt about our ability to continue as a going concern for one year after the condensed consolidated financial statements included in this Quarterly Report are issued.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the year ended December 31, 2025, we incurred a loss from operations of $<span id="xdx_901_eus-gaap--OperatingIncomeLoss_iN_di_c20250101__20251231_zhU2GPd7YdOc" title="Net loss from operations">8,781,299</span> and a net loss of $<span id="xdx_90E_eus-gaap--ProfitLoss_iN_di_c20250101__20251231_zhhn6zU5eZha" title="Net loss">8,607,273</span>. For the nine months ended September 30, 2026, we incurred a loss from operations of $<span id="xdx_902_eus-gaap--OperatingIncomeLoss_iN_di_c20260101__20260930_zKFDbuQ7O557" title="Net loss from operations">8,266,347</span> and a net loss of $<span id="xdx_904_eus-gaap--ProfitLoss_iN_di_c20260101__20260930_z9iP1Ibchc4" title="Net loss">8,005,342</span>. As of September 30, 2026, we had accumulated deficits of $<span id="xdx_901_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_di_c20260930_zdj7JMhuQhth" title="Accumulated deficits">42,005,570</span>. To address these conditions:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">We closed three equity offerings during the first quarter of 2026 totaling <span id="xdx_904_eus-gaap--SharesIssued_iI_c20260930_zsCyqke0VH1a" title="Shares issued">468,862</span> shares of common stock for total net proceeds of $5,800,025.</td></tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">As of September 30, 2026, we maintain a cash, cash equivalents and restricted cash balance of $<span id="xdx_909_ecustom--RestrictedCashBalance_iI_c20260930_zmubU6skNhz6" title="Restricted cash balance">1,828,616</span>.</td></tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">During the fourth quarter of 2025, we completed the sale of our Marion, North Carolina facility, generating $<span id="xdx_900_ecustom--CashPayments_iI_c20251231_zZYUQThnF5N3" title="Cash payments">500,000</span> in cash in the fourth quarter of 2025, and expected cash payments of $500,000 in 2026 and $3,250,000 in 2027, plus interest at 5%.</td></tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Management continues to implement cost controls, operational improvements, and revenue initiatives to further strengthen our financial position.</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Despite our ongoing efforts to mitigate these conditions, there can be no assurance that our expenses will not increase in future periods or that the cash generated from operations in future periods will be sufficient to satisfy our operating needs. If we need to raise additional capital to fund our continued operations, there can be no assurance that funding will be available on acceptable terms on a timely basis, or at all. The various ways that we could raise capital carry potential risks. Any additional sources of financing will likely involve the issuance of our equity securities, which will have a dilutive effect on our stockholders. Any debt financing, if available, may involve restrictive covenants that may impact our ability to conduct our business. If we do not succeed in raising additional funds on acceptable terms or at all, we may be unable to fill new orders and develop new products. As such, we cannot conclude that such plans will be effectively implemented within one year after the date that the condensed consolidated financial statements included in this Quarterly Report are filed with the SEC, and there is uncertainty regarding our ability to maintain liquidity sufficient to operate our business effectively, which raises substantial doubt about our ability to continue as a going concern. If we are unable to generate sufficient revenue from operations and/or raise capital when needed or on attractive terms, we may be forced to delay, reduce or eliminate efforts to expand our dealer network or develop new models and may be forced to cease operations or liquidate assets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> -8781299 -8607273 -8266347 -8005342 -42005570 468862 1828616 500000 <p id="xdx_842_eus-gaap--ConsolidationPolicyTextBlock_zZL4Gkuvd5Ce" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_86B_z5OSSkawS9Dh">Principles of Consolidation</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The condensed consolidated financial statements include the accounts of Twin Vee and its wholly owned subsidiaries as of September 30, 2026, Forza, Wizz Banger, Inc.,and Twin Vee Bahama Group, Inc., collectively referred to as the “Company”. All inter-company balances and transactions are eliminated in consolidation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p id="xdx_841_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zpp1Q56pnqb9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_865_zNPgnXjH4o73">Basis of Presentation</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying condensed consolidated financial statements and the related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of September 30, 2026 and the results of operations and cash flows for the periods presented. The results of operations for the three and nine months ended September 30, 2026 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited condensed consolidated financial statements should be read in conjunction with the financial statements and related notes thereto for the year ended December 31, 2025, which are included in the Company’s Annual Report on Form 10-K filed with the SEC on February 27, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_847_eus-gaap--RevenueRecognitionPolicyTextBlock_zq0GpAJr3iN" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86F_zkeUSPlEvZg5">Revenue Recognition</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s revenue is derived primarily from the sale of boats, motors and trailers to its independent dealers. The Company recognizes revenue when obligations under the terms of a contract are satisfied and control over promised goods is transferred to the dealer. For the majority of sales, this occurs when the product is released to the carrier responsible for transporting it to a dealer. The Company typically receives payment within five business days of shipment. Revenue is measured as the amount of consideration it expects to receive in exchange for a product. The Company offers dealer incentives that include wholesale rebates, retail rebates and promotions, floor plan reimbursement or cash discounts, and other allowances that are recorded as reductions of revenues in net sales in the condensed consolidated statements of operations. The consideration recognized represents the amount specified in a contract with a customer, net of estimated incentives the Company reasonably expects to pay. The estimated liability and reduction in revenue for dealer incentives is recorded at the time of sale. Subsequent adjustments to incentive estimates are possible because actual results may differ from these estimates if conditions dictate the need to enhance or reduce sales promotion and incentive programs or if dealer achievement or other items vary from historical trends. Accrued dealer incentives, if any, are included in accrued liabilities in the accompanying condensed consolidated balance sheets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We had no accounts receivable at September 30, 2026 and December 31, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Payment received for the future sale of a boat to a customer is recognized as a customer deposit. Customer deposits are recognized as revenue when control over promised goods is transferred to the customer. At September 30, 2026 and December 31, 2025, the Company had customer deposits of $<span id="xdx_908_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_c20260930_zamEgTqw96nc" title="Contract liabilities">1,196,786</span> and $<span id="xdx_90D_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_c20251231_zHhxnRDwEjU5" title="Contract liabilities">395,932</span>, respectively, which are recorded as contract liabilities on the condensed consolidated balance sheets. These deposits are refundable and are recognized as revenue when the related boat is delivered, generally within 90 days.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> 1196786 395932 <p id="xdx_846_ecustom--RebatesAndDiscountsPolicyTextBlock_zZ5VKLK8izG1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span id="xdx_861_zsPfvWoLpICi">Rebates and Discounts</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dealers earn wholesale rebates based on purchase volume commitments and achievement of certain performance metrics. The Company estimates the amount of wholesale rebates based on historical achievement, forecasted volume, and assumptions regarding dealer behavior. Rebates that apply to boats already in dealer inventory are referred to as retail rebates. The Company estimates the amount of retail rebates based on historical data for specific boat models adjusted for forecasted sales volume, product mix, dealer and consumer behavior, and assumptions concerning market conditions. The Company also utilizes various programs whereby it offers cash discounts or agrees to reimburse its dealers for certain floor plan interest costs incurred by dealers for limited periods of time, generally ranging up to nine months.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_84E_ecustom--OtherRevenueRecognitionMattersPolicyTextBlock_zDpgGWYqn1cf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span id="xdx_86B_z3KwdYOFK6Jh">Other Revenue Recognition Matters</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dealers generally have no right to return unsold boats. Occasionally, the Company may accept returns in limited circumstances and at the Company’s discretion under its warranty policy. The Company may be obligated, in the event of default by a dealer, to accept returns of unsold boats under its repurchase commitment to floor financing providers, who are able to obtain such boats through foreclosure. The repurchase commitment is on an individual unit basis with a term from the date it is financed by the lending institution through the payment date by the dealer, generally not exceeding 30 months.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has excluded sales and other taxes assessed by a governmental authority in connection with revenue-producing activities from the determination of the transaction price for all contracts. The Company has not adjusted net sales for the effects of a significant financing component because the period between the transfer of the promised goods and the customer’s payment is expected to be one year or less.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_84F_eus-gaap--UseOfEstimates_zrlP4jt9hwd3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86A_zW14tKIyyHb5">Use of Estimates</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of expenses during the reporting period. Some of these judgments can be subjective and complex, and, consequently, actual results may differ from these estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zsslECbLXGgk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86D_z9JybzqOFW6k">Concentration of Credit and Business Risk</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial instruments that potentially subject the Company to concentration of credit risk primarily consist of trade receivables. Credit risk on trade receivables is mitigated as a result of the Company’s use of trade letters of credit, dealer floor plan financing arrangements, and the geographically diversified nature of the Company’s customer base. The Company minimizes the concentration of credit risk associated with its cash by maintaining its cash with high quality federally insured financial institutions. However, cash balances in excess of the Federal Deposit Insurance Corporation (“FDIC”) insured limit of $<span id="xdx_90A_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_c20260930_zfWdq6lioN7i" title="FDIC insured limit">250,000</span> are at risk. As of September 30, 2026 and December 31, 2025, the Company had $<span id="xdx_900_eus-gaap--CashUninsuredAmount_iI_pp0p0_c20260930_zOFUKSMn1jt" title="FDIC uninsured amount">1,182,262</span> and $<span id="xdx_900_eus-gaap--CashUninsuredAmount_iI_pp0p0_c20251231_zPX00q8zFW4i" title="FDIC uninsured amount">798,146</span>, respectively, in excess of FDIC insured limits.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> 250000 1182262 798146 <p id="xdx_848_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zxtN4v7fgq4l" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><i><span id="xdx_861_zvMy3Wb73Ck1">Cash, Cash Equivalents and Restricted Cash</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cash and cash equivalents include all highly liquid investments with original maturities of three months or less at the time of purchase. On September 30, 2026 and December 31, 2025, the Company had cash, cash equivalents, and restricted cash of $<span id="xdx_90F_eus-gaap--Cash_iI_c20260930_znDwDwpO6nDf" title="Cash cash equivalents">1,828,616</span> and $<span id="xdx_908_eus-gaap--Cash_iI_c20251231_zwFOYvrEa71i" title="Cash cash equivalents">1,646,695</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Restricted cash includes amounts that are collected and are held in connection with assets securing certain of the Company’s financing transactions. Restricted cash is restricted for payment of interest expense and principal on the outstanding borrowings. On September 30, 2026 and December 31, 2025, included within restricted cash on the Company’s condensed consolidated balance sheets is an irrevocable letter of credit for $<span id="xdx_905_eus-gaap--RestrictedCash_iI_pp0p0_c20260930_z38oNvprgMO7" title="Restricted cash">208,143</span> and $<span id="xdx_901_eus-gaap--RestrictedCash_iI_pp0p0_c20251231_z8FCB2Cwj4l3" title="Restricted cash">215,117</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> 1828616 1646695 208143 215117 <p id="xdx_84F_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zxqj07SjLWv3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_867_zcl1C5cbpA4d">Fair Value of Financial Instruments</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company follows accounting guidelines on fair value measurements for financial instruments measured on a recurring basis, as well as for certain assets and liabilities that are initially recorded at their estimated fair values. Fair value is defined as the exit price, or the amount that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The Company uses the following three-level hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs to value its financial instruments:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 1: Observable inputs such as unadjusted quoted prices in active markets for identical instruments.</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2: Quoted prices for similar instruments that are directly or indirectly observable in the marketplace.</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3: Significant unobservable inputs which are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires a significant judgment or estimation.</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial instruments measured as fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires it to make judgments and consider factors specific to the asset or liability. The use of different assumptions and/or estimation methodologies may have a material effect on estimated fair values. Accordingly, the fair value estimates disclosed, or initial amounts recorded may not be indicative of the amount that the Company or holders of the instruments could realize in a current market exchange.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The carrying amounts of cash equivalents approximate their fair value due to their liquid or short-term nature, such as accounts receivable and payable, and other financial instruments in current assets or current liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_847_eus-gaap--InventoryPolicyTextBlock_zzXKFoc97P97" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_869_zWAJZBkgdogf">Inventories</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Inventories are valued at the lower of cost and net realizable value, with cost determined using the weighted average cost method. Net realizable value is defined as sales price less cost of completion, disposable and transportation and a normal profit margin. Production costs, consisting of labor and overhead, are applied to ending finished goods inventories at a rate based on estimated production capacity. Excess production costs are charged to cost of products sold. Provisions have been made to reduce excess or obsolete inventories to their net realizable value.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At September 30, 2026 and December 31, 2025, the provision for excess or obsolete inventories is $<span id="xdx_906_eus-gaap--InventoryWriteDown_c20260101__20260930_zKmljcA0Dmp8" title="Provisions for excess and obsolete inventories">470,552</span> and $<span id="xdx_90E_eus-gaap--InventoryWriteDown_c20250101__20251231_zgPQ0QXkud99" title="Provisions for excess and obsolete inventories">224,720</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> 470552 224720 <p id="xdx_846_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zBKRGvckb3d8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86B_z4q3NBK32Iw5">Property and Equipment</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Property and equipment is stated at cost, net of accumulated depreciation and amortization, using the straight-line method over the assets’ useful life. Leasehold improvements are amortized over the shorter of the assets’ useful life or the lease term. The estimated useful lives of property and equipment range from three to five years. Upon sale or retirement, the cost and related accumulated depreciation is eliminated from their respective accounts, and the resulting gain or loss is included in results of operations. Repairs and maintenance charges, which do not increase the useful lives of the assets, are charged to operations as incurred. The Company utilizes the following depreciable lives:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfPublicUtilityPropertyPlantAndEquipmentTextBlock_zwN7a5KoECm9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Organization and Summary of Significant Accounting Policies (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"> <span id="xdx_8B2_z28s13sWJGWb" style="display: none">Schedule of property and equipment</span> </td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">Depreciable Life</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">in years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Machinery and equipment</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"><span id="xdx_90E_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_zhvTJ5HlZLu1" title="Property and equipment depreciable life">3</span>-<span id="xdx_908_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MaximumMember_zlyKFaxFjM98" title="Property and equipment depreciable life">20</span></td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Furniture and fixtures</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"><span id="xdx_902_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zRdZAmV04r4a" title="Property and equipment depreciable life">5</span>-<span id="xdx_904_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zOJdS8qsuO21" title="Property and equipment depreciable life">7</span></td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 70%; text-align: left; text-indent: -10pt">Software and website development</td> <td style="width: 10%"> </td> <td style="width: 1%; text-align: center"> </td> <td style="width: 18%; text-align: center"><span id="xdx_90B_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SoftwareAndWebsiteDevelopmentMember_zPtSOQTv7FJ5" title="Property and equipment depreciable life">5</span></td> <td style="width: 1%; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Computer hardware and software</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"><span id="xdx_904_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerHardwareAndSoftwareMember_zffvmgGyoxH2" title="Property and equipment depreciable life">5</span></td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Boat molds</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"><span id="xdx_907_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BoatMoldsMember__srt--RangeAxis__srt--MinimumMember_zBV7gvB01yve" title="Property and equipment depreciable life">5</span>-<span id="xdx_903_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BoatMoldsMember__srt--RangeAxis__srt--MaximumMember_zDq9uAixNcZf" title="Property and equipment depreciable life">15</span></td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Vehicles</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"><span id="xdx_90B_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zWoFTXtd2my4" title="Property and equipment depreciable life">5</span></td> <td style="text-align: center"> </td></tr> </table> <p id="xdx_8AD_zXoimq5TW441" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfPublicUtilityPropertyPlantAndEquipmentTextBlock_zwN7a5KoECm9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Organization and Summary of Significant Accounting Policies (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"> <span id="xdx_8B2_z28s13sWJGWb" style="display: none">Schedule of property and equipment</span> </td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">Depreciable Life</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">in years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Machinery and equipment</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"><span id="xdx_90E_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_zhvTJ5HlZLu1" title="Property and equipment depreciable life">3</span>-<span id="xdx_908_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MaximumMember_zlyKFaxFjM98" title="Property and equipment depreciable life">20</span></td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Furniture and fixtures</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"><span id="xdx_902_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zRdZAmV04r4a" title="Property and equipment depreciable life">5</span>-<span id="xdx_904_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zOJdS8qsuO21" title="Property and equipment depreciable life">7</span></td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 70%; text-align: left; text-indent: -10pt">Software and website development</td> <td style="width: 10%"> </td> <td style="width: 1%; text-align: center"> </td> <td style="width: 18%; text-align: center"><span id="xdx_90B_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SoftwareAndWebsiteDevelopmentMember_zPtSOQTv7FJ5" title="Property and equipment depreciable life">5</span></td> <td style="width: 1%; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Computer hardware and software</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"><span id="xdx_904_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerHardwareAndSoftwareMember_zffvmgGyoxH2" title="Property and equipment depreciable life">5</span></td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Boat molds</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"><span id="xdx_907_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BoatMoldsMember__srt--RangeAxis__srt--MinimumMember_zBV7gvB01yve" title="Property and equipment depreciable life">5</span>-<span id="xdx_903_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BoatMoldsMember__srt--RangeAxis__srt--MaximumMember_zDq9uAixNcZf" title="Property and equipment depreciable life">15</span></td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Vehicles</td> <td> </td> <td style="text-align: center"> </td> <td style="text-align: center"><span id="xdx_90B_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zWoFTXtd2my4" title="Property and equipment depreciable life">5</span></td> <td style="text-align: center"> </td></tr> </table> P3Y P20Y P5Y P7Y P5Y P5Y P5Y P15Y P5Y <p id="xdx_848_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zGmZUgn0OKLk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_860_zKjJHQ2KNmx9">Impairment of Long-Lived Assets</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management assesses the recoverability of its long-lived assets when indicators of impairment are present. If such indicators are present, recoverability of these assets is determined by comparing the undiscounted net cash flows estimated to result from those assets over the remaining life to the assets’ net carrying amounts. If the estimated undiscounted net cash flows are less than the net carrying amount, the assets would be adjusted to their fair value, based on appraisal or the present value of the undiscounted net cash flows.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the second quarter of 2026, the Company recorded a non-cash impairment charge of approximately $<span id="xdx_90B_ecustom--NoncashImpairmentCharges_iI_c20260930_zph8ZjX9nn43" title="Non-cash impairment charges">699,710</span> related to capitalized software development costs. The software platform was developed and commercialized during 2025 with the expectation of generating future revenues through licensing, subscription arrangements, customer access fees, and other commercialization opportunities. Following commercialization, management actively pursued customer adoption, strategic partnerships, and other monetization initiatives. After evaluating market demand, expected future investment requirements, strategic priorities, and the absence of supportable future revenue opportunities, management determined during the second quarter of 2026 to discontinue commercialization efforts and abandon the software as a revenue-generating initiative. As a result, the Company concluded that the carrying value of the software was no longer recoverable and recorded a full impairment charge of $699,710, representing the remaining net book value of the asset.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> 699710 <p id="xdx_846_ecustom--NotesReceivableTextBlock_zJ0SehIVtYNf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_865_zGEScx3KigJ8">Notes Receivable</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company records long-term notes receivable at their principal amount, net of an original issue discount, which represents the difference between the stated principal and the present value of future cash flows discounted using the interest rate implicit in the loan. The discount is amortized to interest income over the term of the note using the effective interest method. Accrued interest is recorded as earned. Management evaluates notes receivable for collectability and records an allowance for credit losses when necessary based on expected credit losses, historical experience, and current conditions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_848_eus-gaap--ExtendedProductWarrantyPolicy_zNXerCWtuNYi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_868_z5Fw58HRCazb">Product Warranty Costs</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company accrues for warranty costs based on the expected material and labor costs to provide warranty replacement products. The methodology used in determining the liability for warranty cost is based upon historical information and experience. The Company’s warranty reserve is calculated as the gross sales multiplied by the historical warranty expense return rate. The Company’s warranty liability is included in the accrued liabilities line item of the accompanying condensed consolidated balance sheets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_849_eus-gaap--AdvertisingCostsPolicyTextBlock_zKk7ei4zFRSe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_868_zzLaMVl0zTW9">Advertising</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended September 30, 2026 and 2025, advertising costs incurred by the Company totaled $<span id="xdx_90D_eus-gaap--AdvertisingExpense_c20260107__20260930_zSP03P2wutj7" title="Advertising costs">21,598</span> and $17,299, respectively, and are included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> Advertising and marketing costs are expensed as incurred. During the nine months ended September 30, 2026 and 2025, advertising costs incurred by the Company totaled $<span id="xdx_908_eus-gaap--AdvertisingExpense_c20260101__20260930_zNBChhSyeW39" title="Advertising costs">114,979</span> and $<span id="xdx_90A_eus-gaap--AdvertisingExpense_c20250101__20250930_zl47f3Kiybpj" title="Advertising costs">41,238</span>, respectively, and are included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> 21598 114979 41238 <p id="xdx_84D_ecustom--ShippingAndHandlingCostsPolicyTextBlock_zSJQeW6ZamN7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_865_zLhc9pgufv9a">Shipping and Handling Costs</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Shipping and handling costs includes those costs incurred to transport product to customers and internal handling costs, which relate to activities to prepare goods for shipment. The Company has elected to account for shipping and handling costs associated with outbound freight after control over a product has transferred to a customer as a fulfillment cost. The Company includes shipping and handling costs, including cost billed to customers, in cost of products sold in the condensed consolidated statements of operations. All manufactured boats are free on board (FOB), from the Fort Pierce manufacturing plant. Dealers are required to either pick up the boats themselves or contract with a transporter. For the three months ended September 30, 2026 and 2025, shipping and handling costs amounted to $<span id="xdx_904_ecustom--ShippingAndHandlingCosts_c20260107__20260930_zdcP4JrPaVRi" title="Shipping and handling costs">34,672</span> and $<span id="xdx_900_ecustom--ShippingAndHandlingCosts_c20250107__20250930_zQy3GLPOyWsl" title="Shipping and handling costs">38,786</span>, respectively. For the nine months ended September 30, 2026 and 2025, shipping and handling costs amounted to $<span id="xdx_90F_ecustom--ShippingAndHandlingCosts_c20260101__20260930_z3GrnANTtem3" title="Shipping and handling costs">157,310</span> and $<span id="xdx_900_ecustom--ShippingAndHandlingCosts_c20250101__20250930_zC4kDVIQuj7c" title="Shipping and handling costs">146,469</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> 34672 38786 157310 146469 <p id="xdx_842_eus-gaap--LesseeLeasesPolicyTextBlock_zxxZNVj4kJn9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86C_zwkKXa3mJ9fh">Leases</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is a lessee in multiple noncancelable operating and financing leases. If the contract provides the Company with the right to substantially all the economic benefits and the right to direct the use of the identified asset, it is generally considered to be or contain a lease. Right-of-Use (ROU) assets and lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments over the expected lease term. The ROU asset is also adjusted for any lease prepayments made, lease incentives received, and initial direct costs incurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The lease liability is initially and subsequently recognized based on the present value of its future lease payments. Variable payments are included in the future lease payments when those variable payments depend on an index or a rate. Increases (decreases) to variable lease payments due to subsequent changes in an index or rate are recorded as variable lease expense (income) in the future period in which they are incurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The discount rate used is the implicit rate in the lease contract, if it is readily determinable, or the Company’s incremental borrowing rate. The Company uses the incremental borrowing rate based on the information available at the commencement date for all leases. The Company’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms and in a similar economic environment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The ROU asset for operating leases is subsequently measured throughout the lease term at the amount of the remeasured lease liability (i.e., present value of the remaining lease payments), plus unamortized initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received, and any impairment recognized. Operating leases with fluctuating lease payments: For operating leases with lease payments that fluctuate over the lease term, the total lease costs are recognized on a straight-line basis over the lease term. The ROU asset for finance leases is amortized on a straight-line basis over the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For all underlying classes of assets, the Company has elected the practical expedient to not recognize ROU assets and lease liabilities for short-term leases that have a lease term of 12 months or less at lease commencement and do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. Leases containing termination clauses in which either party may terminate the lease without cause and the notice period is less than 12 months are generally deemed short-term leases with lease costs included in short term lease expense. The Company recognizes short-term lease cost on a straight-line basis over the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_84A_ecustom--SupplierConcentrationsPolicyTextBlock_zczu06LKWTfc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_865_zYOZbO90JDvj">Supplier Concentrations</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is dependent on the ability of its suppliers to provide products on a timely basis and on favorable pricing terms. The loss of certain principal suppliers or a significant reduction in product availability from principal suppliers could have a material adverse effect on the Company. Business risk insurance is in place to mitigate the business risk associated with sole suppliers for sudden disruptions such as those caused by natural disasters.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is dependent on third-party equipment manufacturers, distributors, and dealers for certain parts and materials utilized in the manufacturing process. During the three months ended September 30, 2026, the Company purchased all engines for its boats under supplier agreements with three vendors (Mercury, Suzuki and Yamaha). Total purchases from these vendors were $<span id="xdx_901_ecustom--AccountsPayableRelatedParty_c20260701__20260930_zF2OAAsRqKCk" title="Total purchases from these vendors">891,930</span>. During the three months ended September 30, 2025, the Company purchased all engines from three vendors (Mercury, Suzuki and Yamaha) for its boats under supplier agreements. Total purchases from these vendors were $<span id="xdx_90C_ecustom--AccountsPayableRelatedParty_c20250701__20250930_zM8eVZ3Fns5j" title="Total purchases from these vendors">742,897</span>. During the nine months ended September 30, 2026, the Company purchased all engines for its boats under supplier agreements with three vendors (Mercury, Suzuki and Yamaha). Total purchases from these vendors were $<span id="xdx_902_ecustom--AccountsPayableRelatedParty_c20260101__20260930_z5iswIX0qXpi" title="Total purchases from these vendors">2,358,863</span>. During the nine months ended September 30, 2025, the Company purchased all engines from three vendors (Mercury, Suzuki and Yamaha) for its boats under supplier agreements. Total purchases from these vendors were $<span id="xdx_903_ecustom--AccountsPayableRelatedParty_c20250101__20250930_zY97bJkFlb32" title="Total purchases from these vendors">1,986,913</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> 891930 742897 2358863 1986913 <p id="xdx_84E_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zGzUVknzvZv5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> <b><i><span id="xdx_86D_zOFqS6qnpVG5">Stock-Based Compensation</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recognizes stock-based compensation costs for its restricted stock and restricted stock units, measured at the fair value of each award at the time of grant, as an expense over the period during which an employee is required to provide service. Compensation cost is recognized over the service period for the fair value of awards that vest.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_842_eus-gaap--IncomeTaxPolicyTextBlock_ztD6xlq8FaL8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_865_zz7DOY6jdl71">Income Taxes</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating losses. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is entirely dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversals of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company files income tax returns in the U.S. federal jurisdiction and various states.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_845_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zoruLX7EnmT4" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><span id="xdx_86A_z1ZcgzMHUBFc">Recently Issued and Adopted Accounting Pronouncements</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In July 2025, the FASB issued ASU 2025-05, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets”. ASU 2025-05 provides a practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets. ASU 2025-05 is effective for annual reporting periods beginning after December 15, 2025 and interim reporting periods within those annual reporting periods and should be applied prospectively. Early adoption is permitted. The Company adopted the ASU, and the adoption had no material effect on the unaudited condensed consolidated financial statements and related disclosures.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>Recently Issued But Not Yet Adopted Accounting Pronouncements</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In November 2024, the FASB issued ASU 2024-03, <i>Income Statement–Reporting Comprehensive Income–Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expense</i> (“ASU 2024-03”), effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027. The amendments in this update require disclosure, in the notes to the financial statements, of specified information about certain costs and expenses and a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. The Company is currently evaluating the potential impact the adoption of ASU 2024-03 will have on its future disclosures.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <p id="xdx_808_eus-gaap--InventoryDisclosureTextBlock_zTGCHGtjFdFf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">2. <span id="xdx_82D_zTdINCrQHBfb">Inventories</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At September 30, 2026 and December 31, 2025, inventories consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_88B_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_z44CDlcdEPp2" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Inventories (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B5_zmzvFf0rNSvb" style="display: none">Schedule of inventories</span></td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_49A_20260930_z8g0eHjNAsKf" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_49F_20251231_z99yg8vf1er4" style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr id="xdx_40B_eus-gaap--InventoryRawMaterials_iI_zXNFcxbGWo8k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Raw Materials</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">3,202,227</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">2,517,006</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InventoryWorkInProcess_iI_zWsF6HmRXWMk" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Work in Process</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">79,287</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">112,100</td> <td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--InventoryFinishedGoods_iI_zE93HG9HeRu5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Finished Product</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">433,316</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">88,355</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--InventoryGross_iI_zYsNpO8J94N8" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total Inventory</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; text-align: right">3,814,830</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; text-align: right">2,717,461</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--ReserveForExcessAndObsolete_iI_zDhQVgXo5Rrc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Reserve for Excess and Obsolete</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">(470,552</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">(224,720</td> <td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--OtherInventoryNetOfReserves_iI_zGwTrMhVvGng" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Net inventory</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; text-align: right">3,344,278</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; text-align: right">2,492,741</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_88B_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_z44CDlcdEPp2" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Inventories (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B5_zmzvFf0rNSvb" style="display: none">Schedule of inventories</span></td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_49A_20260930_z8g0eHjNAsKf" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_49F_20251231_z99yg8vf1er4" style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr id="xdx_40B_eus-gaap--InventoryRawMaterials_iI_zXNFcxbGWo8k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Raw Materials</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">3,202,227</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">2,517,006</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InventoryWorkInProcess_iI_zWsF6HmRXWMk" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Work in Process</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">79,287</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">112,100</td> <td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--InventoryFinishedGoods_iI_zE93HG9HeRu5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Finished Product</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">433,316</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">88,355</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--InventoryGross_iI_zYsNpO8J94N8" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total Inventory</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; text-align: right">3,814,830</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; text-align: right">2,717,461</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--ReserveForExcessAndObsolete_iI_zDhQVgXo5Rrc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Reserve for Excess and Obsolete</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">(470,552</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">(224,720</td> <td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--OtherInventoryNetOfReserves_iI_zGwTrMhVvGng" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Net inventory</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; text-align: right">3,344,278</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td> <td style="border-bottom: Black 1pt solid; text-align: right">2,492,741</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 3202227 2517006 79287 112100 433316 88355 3814830 2717461 -470552 -224720 3344278 2492741 <p id="xdx_800_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_ze58ctKOipSi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">3. <span id="xdx_828_zKZCfjxddjVj">Property and Equipment</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At September 30, 2026 and December 31, 2025, property and equipment consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_888_eus-gaap--PropertyPlantAndEquipmentTextBlock_zzYsUeb7DcNk" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Property and Equipment (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"> <span id="xdx_8B5_zIhDOwoy0pDj" style="display: none">Schedule of property and equipment</span> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Machinery and equipment</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zGGcmSjvGPCf" style="width: 12%; text-align: right" title="Property and equipment, gross">3,363,496</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zE4ktH0BQDt6" style="width: 12%; text-align: right" title="Property and equipment, gross">3,354,246</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Furniture and fixtures</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zV33YzddM9Wf" style="text-align: right" title="Property and equipment, gross">36,816</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zajetGFndzXl" style="text-align: right" title="Property and equipment, gross">36,816</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Leasehold improvements</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zydE3ywyt0N1" style="text-align: right" title="Property and equipment, gross">3,264,468</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zvNuVPC0wY56" style="text-align: right" title="Property and equipment, gross">3,219,520</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Software and website development</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_z7sMSI9I4gfa" style="text-align: right" title="Property and equipment, gross">279,870</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_zIZVyfbG1Uga" style="text-align: right" title="Property and equipment, gross">1,089,155</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Computer hardware and software</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerHardwareAndSoftwareMember_zE5DXBZHv486" style="text-align: right" title="Property and equipment, gross">120,328</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerHardwareAndSoftwareMember_z19VNMh3mhQ8" style="text-align: right" title="Property and equipment, gross">120,328</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Boat molds</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BoatMoldsMember_zIpyEtjuiDMl" style="text-align: right" title="Property and equipment, gross">5,695,464</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BoatMoldsMember_zmF7s5NgP2Oj" style="text-align: right" title="Property and equipment, gross">5,347,338</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Vehicles</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zfgrVYZYEZi9" style="text-align: right" title="Property and equipment, gross">94,534</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zvvg5ui1pxU6" style="text-align: right" title="Property and equipment, gross">94,534</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Assets under construction</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--AssetUnderConstructionMember_z3oqzn3f7rSl" style="border-bottom: Black 1pt solid; text-align: right" title="Property and equipment, gross">13,632</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--AssetUnderConstructionMember_zK0Z7nQZwFk5" style="border-bottom: Black 1pt solid; text-align: right" title="Property and equipment, gross">17,600</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20260930_zFMBQHLKfdxe" style="text-align: right" title="Property and equipment, gross">12,868,608</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231_z6FdT3Hnn6I3" style="text-align: right" title="Property and equipment, gross">13,279,537</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Less accumulated depreciation and amortization</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98E_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20260930_zkEHQq8d0nT7" style="border-bottom: Black 1pt solid; text-align: right" title="Less accumulated depreciation and amortization">(6,187,407</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_c20251231_zi5AH71awLc8" style="border-bottom: Black 1pt solid; text-align: right" title="Less accumulated depreciation and amortization">(4,936,576</td> <td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0p0_c20260930_zt2nbR0XyDLc" style="border-bottom: Black 2.5pt double; text-align: right" title="Property and equipment, net">6,681,201</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentNet_iI_c20251231_zS7a8ZAek1b8" style="border-bottom: Black 2.5pt double; text-align: right" title="Property and equipment, net">8,342,961</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Depreciation and amortization expense of property and equipment for the three months ended September 30, 2026 and 2025 were $<span id="xdx_904_eus-gaap--DepreciationDepletionAndAmortization_c20260107__20260930_zBUMBpKXFPLa" title="Depreciation and amortization">435,566</span> and $<span id="xdx_903_eus-gaap--DepreciationDepletionAndAmortization_c20250107__20250930_zru1MbNKDJog" title="Depreciation and amortization">419,825</span>, respectively. Depreciation and amortization expense of property and equipment for the nine months ended September 30, 2026 and 2025 were $<span id="xdx_90E_eus-gaap--DepreciationDepletionAndAmortization_c20260101__20260930_zze1M6TBzJ93" title="Depreciation and amortization">1,361,812</span> and $<span id="xdx_905_eus-gaap--DepreciationDepletionAndAmortization_c20250101__20250930_zE4EhYjfxjN7" title="Depreciation and amortization">1,287,048</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_888_eus-gaap--PropertyPlantAndEquipmentTextBlock_zzYsUeb7DcNk" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Property and Equipment (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"> <span id="xdx_8B5_zIhDOwoy0pDj" style="display: none">Schedule of property and equipment</span> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Machinery and equipment</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zGGcmSjvGPCf" style="width: 12%; text-align: right" title="Property and equipment, gross">3,363,496</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zE4ktH0BQDt6" style="width: 12%; text-align: right" title="Property and equipment, gross">3,354,246</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Furniture and fixtures</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zV33YzddM9Wf" style="text-align: right" title="Property and equipment, gross">36,816</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zajetGFndzXl" style="text-align: right" title="Property and equipment, gross">36,816</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Leasehold improvements</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zydE3ywyt0N1" style="text-align: right" title="Property and equipment, gross">3,264,468</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zvNuVPC0wY56" style="text-align: right" title="Property and equipment, gross">3,219,520</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Software and website development</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_z7sMSI9I4gfa" style="text-align: right" title="Property and equipment, gross">279,870</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_zIZVyfbG1Uga" style="text-align: right" title="Property and equipment, gross">1,089,155</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Computer hardware and software</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerHardwareAndSoftwareMember_zE5DXBZHv486" style="text-align: right" title="Property and equipment, gross">120,328</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerHardwareAndSoftwareMember_z19VNMh3mhQ8" style="text-align: right" title="Property and equipment, gross">120,328</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Boat molds</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BoatMoldsMember_zIpyEtjuiDMl" style="text-align: right" title="Property and equipment, gross">5,695,464</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BoatMoldsMember_zmF7s5NgP2Oj" style="text-align: right" title="Property and equipment, gross">5,347,338</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Vehicles</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zfgrVYZYEZi9" style="text-align: right" title="Property and equipment, gross">94,534</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zvvg5ui1pxU6" style="text-align: right" title="Property and equipment, gross">94,534</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Assets under construction</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--AssetUnderConstructionMember_z3oqzn3f7rSl" style="border-bottom: Black 1pt solid; text-align: right" title="Property and equipment, gross">13,632</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--AssetUnderConstructionMember_zK0Z7nQZwFk5" style="border-bottom: Black 1pt solid; text-align: right" title="Property and equipment, gross">17,600</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20260930_zFMBQHLKfdxe" style="text-align: right" title="Property and equipment, gross">12,868,608</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20251231_z6FdT3Hnn6I3" style="text-align: right" title="Property and equipment, gross">13,279,537</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Less accumulated depreciation and amortization</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98E_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20260930_zkEHQq8d0nT7" style="border-bottom: Black 1pt solid; text-align: right" title="Less accumulated depreciation and amortization">(6,187,407</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_c20251231_zi5AH71awLc8" style="border-bottom: Black 1pt solid; text-align: right" title="Less accumulated depreciation and amortization">(4,936,576</td> <td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0p0_c20260930_zt2nbR0XyDLc" style="border-bottom: Black 2.5pt double; text-align: right" title="Property and equipment, net">6,681,201</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentNet_iI_c20251231_zS7a8ZAek1b8" style="border-bottom: Black 2.5pt double; text-align: right" title="Property and equipment, net">8,342,961</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 3363496 3354246 36816 36816 3264468 3219520 279870 1089155 120328 120328 5695464 5347338 94534 94534 13632 17600 12868608 13279537 6187407 4936576 6681201 8342961 435566 419825 1361812 1287048 <p id="xdx_80D_eus-gaap--LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_zEwEkJHF1fp8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>4. <span id="xdx_828_z49wfZCAfy23">Note Receivable</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of September 30, 2026, the Company had a note receivable with an outstanding principal balance of $<span id="xdx_90D_ecustom--NoteReceivablePrincipalBalance_iI_c20260930_zApDCjLgSHGj" title="Note receivable principal balance">3,750,000</span>, consisting of $<span id="xdx_906_ecustom--NotesReceivableConsistingAmount_iI_c20260930_z5hhVNSbnbK2" title="Notes receivable consisting amount">1,000,000</span> classified as current and $<span id="xdx_900_ecustom--NotesReceivableCurrent_iI_c20260930_zu3MV0SRJ6h2" title="Notes receivable current">2,750,000</span> as long term. These are recorded on the balance sheet net of $<span id="xdx_90F_ecustom--NoteReceivableNetDiscount_iI_c20260930_z7QRyt8n4VP2" title="Note receivable net discount">157,727</span> discount. The note bears interest at a stated rate of 5.0% per annum and accrues interest on the outstanding principal balance. Accrued interest receivable related to the note totaled $<span id="xdx_903_ecustom--AccruedInterestNoteReceivable_iI_c20260930_zf8tP8DWrvMh" title="Accrued interest note receivable">171,875 </span>as of September 30, 2026, and is included in prepaids and other current assets in the accompanying consolidated balance sheet. The current portion of the note receivable represents principal payments contractually due within twelve months of the balance sheet date, with the remaining balance due thereafter. The Company evaluated the note for expected credit losses under ASC 326 and determined that no allowance was required at September 30, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Schedule of note receivable maturities</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <table cellpadding="0" cellspacing="0" id="xdx_883_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zVMFB5BBAM31" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Note Receivable (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8BA_zxK3OVFc86Q9" style="display: none">Schedule of note receivable maturities</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 70%; text-align: left; text-indent: -10pt">Note receivable, due 2026</td> <td style="width: 10%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_98D_ecustom--NoteReceivableDue_iI_c20260930_zcLz0lK0DL5k" style="width: 18%; text-align: right" title="Note receivable due 2026">1,000,000</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Note receivable 2027</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98A_ecustom--NoteReceivableDueOfterOneYear_iI_c20260930_z4oE2KfI5HF5" style="border-bottom: Black 1pt solid; text-align: right" title="Note receivable due 2027">2,750,000</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_986_ecustom--NoteReceivableNet_iI_c20260930_z3BnSxzSHOr2" style="text-align: right" title="Total Note receivable net">3,750,000</td> <td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> 3750000 1000000 2750000 157727 171875 <table cellpadding="0" cellspacing="0" id="xdx_883_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zVMFB5BBAM31" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Note Receivable (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8BA_zxK3OVFc86Q9" style="display: none">Schedule of note receivable maturities</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 70%; text-align: left; text-indent: -10pt">Note receivable, due 2026</td> <td style="width: 10%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_98D_ecustom--NoteReceivableDue_iI_c20260930_zcLz0lK0DL5k" style="width: 18%; text-align: right" title="Note receivable due 2026">1,000,000</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Note receivable 2027</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98A_ecustom--NoteReceivableDueOfterOneYear_iI_c20260930_z4oE2KfI5HF5" style="border-bottom: Black 1pt solid; text-align: right" title="Note receivable due 2027">2,750,000</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_986_ecustom--NoteReceivableNet_iI_c20260930_z3BnSxzSHOr2" style="text-align: right" title="Total Note receivable net">3,750,000</td> <td style="text-align: left"> </td></tr> </table> 1000000 2750000 3750000 <p id="xdx_80D_eus-gaap--LesseeOperatingLeasesTextBlock_zebnH9b2gjxa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">5. <span id="xdx_823_zmL5MPdwIHzl">Operating Leases</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Operating right of use (“ROU”) assets and operating lease liabilities are recognized at the lease commencement date. Operating lease liabilities represent the present value of lease payments not yet paid. Operating right of use assets represent the Company’s right to use an underlying asset and is based upon the operating lease liabilities adjusted for prepayments or accrued lease payments, initial direct costs, lease incentives, and impairment of operating lease assets. To determine the present value of lease payments not yet paid, the Company estimates incremental secured borrowing rates corresponding to the maturities of the leases.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s office lease contains rent escalations over the lease term. The Company recognizes expense for this office lease on a straight-line basis over the lease term. Additionally, tenant incentives used to fund leasehold improvements are recognized when earned and reduce the Company’s right-of-use asset related to the lease. These are amortized through the right-of-use asset as reductions of expense over the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company leases its office and warehouse facilities, and the land, which is located at 3101 S US-1, Fort Pierce, Florida (the “Property”) from Visconti Holdings, LLC. Visconti Holdings, LLC is a single member LLC that holds the ownership of the property, and its sole member is Joseph C. Visconti, the CEO of the Company. On March 12, 2026, the Company entered into a new 5-year lease through December 31, 2030. The base rent payment is $<span id="xdx_90D_ecustom--OperatingLeasesRentExpense_c20260311__20260312_zKPQWKkdly82" title="Rent payment">48,208</span> per month with annual escalations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At September 30, 2026 and December 31, 2025, supplemental balance sheet information related to the lease was as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_896_ecustom--ScheduleOfLeaseSupplementalBalanceSheetInformationTableTextBlock_zwmY9Xo97WUe" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-align: center; text-indent: -10pt"><span id="xdx_8B5_zV7QUxYvrMC1" style="display: none">Schedule of supplemental balance sheet information related to the lease</span></td> <td> </td> <td colspan="3" id="xdx_496_20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NCLimitedLiabilityCompanyMember_zCmdjLgLvPWe" style="text-align: center"> </td> <td> </td> <td colspan="3" id="xdx_497_20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NCLimitedLiabilityCompanyMember_zVSWj5y2Hl4f" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pp0p0_zl5zVP32aW3d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Operating lease ROU asset</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">2,395,881</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0865">—</span></td> <td style="width: 1%; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiabilityAbstract_iB_zSocEzBRpz1a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Operating lease liabilities:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0p0_d0_zkzAikuFl3B5" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Current portion</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">468,396</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">—</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0_d0_z1bHwWAwkZM6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Non-current portion</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">1,977,078</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">—</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiability_iI_pp0p0_d0_zApgTB8wjHXi" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Total</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">2,445,474</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">—</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A3_zI76lHmTaDo8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--LeaseCostTableTextBlock_zECbO9kqg9s7" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Operating Leasess (Details 1)"> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span id="xdx_8B5_zKRWJZRXSjGg" style="display: none">Schedule of operating lease cost</span></td> <td> </td> <td colspan="3" id="xdx_49D_20260701__20260930_zFi5CvTgGIJe" style="text-align: center"> </td> <td> </td> <td colspan="3" id="xdx_491_20250701__20250930_zypeoiF0le8" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended<br/> September 30, 2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended <br/> September 30, 2025</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center"> </td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseCost_zCYQxEZzkhF8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Operating lease cost</td> <td style="width: 8%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">161,156</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td> <td style="width: 8%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">97,721</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--OperatingLeaseCashPayments_zCCt9KPrb0lh" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Operating lease cash payments</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">144,625</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">109,396</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" id="xdx_49D_20260101__20260930_zrghgcft3Sx1" style="text-align: center"> </td> <td> </td> <td colspan="3" id="xdx_493_20250101__20250930_zM1YBdVJ6tV5" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Nine Months Ended <br/> September 30, 2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Nine Months Ended <br/> September 30, 2025</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center"> </td> <td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseCost_zXYQZKaxgGGk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Operating lease cost</td> <td style="width: 8%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">483,468</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td> <td style="width: 8%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">292,867</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--OperatingLeaseCashPayments_zfBuc0AfQQz8" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Operating lease cash payments</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">433,875</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">328,187</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A3_zjhne8sMQgA8" style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At September 30, 2026, future minimum lease payments under the non-cancelable operating lease are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89C_ecustom--NonCancelableOperatingLeaseLiabilityMaturityTableTextBlock_zR1UwYO1Bk5d" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Operating Leasess (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B4_zjtWTimFXyJe" style="display: none">Schedule of future minimum lease payments</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ViscontiHoldingsLLCMember_z9hzQ9ij0iyb" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left">Year Ending December 31,</td><td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_zdPXnUZAbgNf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">2026 (except for the nine months ended September 30, 2026)</td><td style="width: 1%; text-align: left"> </td><td style="width: 10%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 31%; text-align: right">144,625</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_zgu4WGnaHKgl" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">610,585</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_zWHeuejXhsCb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2028</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">643,632</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_zMp5M1yfhdW8" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2029</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">677,672</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_zYnPnJzZuRQ4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2030</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">712,732</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_zpA3uruT0JE3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total lease payment</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,789,246</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zb3RP7l5Q6bg" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Less imputed interest</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(343,772</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiability_iI_zgXZiajiemq9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,445,474</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zxNZinQ9RSV7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" id="xdx_891_ecustom--ScheduleOfSummarizesOtherSupplementalInformationOfOpeartingLeaseTableTextBlock_zypZ06uhUxu1" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Operating Leasess (Details3)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8BE_zWXXwhuN1xt4" style="display: none">Schedule of discount rate and lease term</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: center"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-indent: -10pt">Weighted average discount rate</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_dp_c20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ViscontiHoldingsLLCMember_zugRsSsUfyKd" title="Weighted average discount rate">6</span></td> <td style="width: 1%; text-align: left">%</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 12%; text-align: center">NA</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Weighted average remaining lease term (years)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90B_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ViscontiHoldingsLLCMember_zWUPn5GfbTA7" title="Weighted average remaining lease term (years)">4.5</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: center">NA</td> <td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></p> <p id="xdx_8A1_z58LWQxnnwXj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> 48208 <table cellpadding="0" cellspacing="0" id="xdx_896_ecustom--ScheduleOfLeaseSupplementalBalanceSheetInformationTableTextBlock_zwmY9Xo97WUe" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-align: center; text-indent: -10pt"><span id="xdx_8B5_zV7QUxYvrMC1" style="display: none">Schedule of supplemental balance sheet information related to the lease</span></td> <td> </td> <td colspan="3" id="xdx_496_20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NCLimitedLiabilityCompanyMember_zCmdjLgLvPWe" style="text-align: center"> </td> <td> </td> <td colspan="3" id="xdx_497_20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NCLimitedLiabilityCompanyMember_zVSWj5y2Hl4f" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pp0p0_zl5zVP32aW3d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Operating lease ROU asset</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">2,395,881</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0865">—</span></td> <td style="width: 1%; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiabilityAbstract_iB_zSocEzBRpz1a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Operating lease liabilities:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0p0_d0_zkzAikuFl3B5" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Current portion</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">468,396</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">—</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0_d0_z1bHwWAwkZM6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Non-current portion</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">1,977,078</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">—</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiability_iI_pp0p0_d0_zApgTB8wjHXi" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Total</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">2,445,474</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">—</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 2395881 468396 0 1977078 0 2445474 0 <table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--LeaseCostTableTextBlock_zECbO9kqg9s7" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Operating Leasess (Details 1)"> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span id="xdx_8B5_zKRWJZRXSjGg" style="display: none">Schedule of operating lease cost</span></td> <td> </td> <td colspan="3" id="xdx_49D_20260701__20260930_zFi5CvTgGIJe" style="text-align: center"> </td> <td> </td> <td colspan="3" id="xdx_491_20250701__20250930_zypeoiF0le8" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended<br/> September 30, 2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended <br/> September 30, 2025</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center"> </td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseCost_zCYQxEZzkhF8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Operating lease cost</td> <td style="width: 8%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">161,156</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td> <td style="width: 8%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">97,721</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--OperatingLeaseCashPayments_zCCt9KPrb0lh" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Operating lease cash payments</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">144,625</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">109,396</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" id="xdx_49D_20260101__20260930_zrghgcft3Sx1" style="text-align: center"> </td> <td> </td> <td colspan="3" id="xdx_493_20250101__20250930_zM1YBdVJ6tV5" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Nine Months Ended <br/> September 30, 2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Nine Months Ended <br/> September 30, 2025</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center"> </td> <td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseCost_zXYQZKaxgGGk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Operating lease cost</td> <td style="width: 8%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">483,468</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td> <td style="width: 8%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">292,867</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--OperatingLeaseCashPayments_zfBuc0AfQQz8" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Operating lease cash payments</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">433,875</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">328,187</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 161156 97721 144625 109396 483468 292867 433875 328187 <table cellpadding="0" cellspacing="0" id="xdx_89C_ecustom--NonCancelableOperatingLeaseLiabilityMaturityTableTextBlock_zR1UwYO1Bk5d" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Operating Leasess (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B4_zjtWTimFXyJe" style="display: none">Schedule of future minimum lease payments</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ViscontiHoldingsLLCMember_z9hzQ9ij0iyb" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left">Year Ending December 31,</td><td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_zdPXnUZAbgNf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">2026 (except for the nine months ended September 30, 2026)</td><td style="width: 1%; text-align: left"> </td><td style="width: 10%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 31%; text-align: right">144,625</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_zgu4WGnaHKgl" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">610,585</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_zWHeuejXhsCb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2028</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">643,632</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_zMp5M1yfhdW8" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2029</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">677,672</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_zYnPnJzZuRQ4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2030</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">712,732</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_zpA3uruT0JE3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total lease payment</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,789,246</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zb3RP7l5Q6bg" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Less imputed interest</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(343,772</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiability_iI_zgXZiajiemq9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,445,474</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 144625 610585 643632 677672 712732 2789246 343772 2445474 <table cellpadding="0" cellspacing="0" id="xdx_891_ecustom--ScheduleOfSummarizesOtherSupplementalInformationOfOpeartingLeaseTableTextBlock_zypZ06uhUxu1" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Operating Leasess (Details3)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8BE_zWXXwhuN1xt4" style="display: none">Schedule of discount rate and lease term</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: center"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-indent: -10pt">Weighted average discount rate</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_dp_c20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ViscontiHoldingsLLCMember_zugRsSsUfyKd" title="Weighted average discount rate">6</span></td> <td style="width: 1%; text-align: left">%</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 12%; text-align: center">NA</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Weighted average remaining lease term (years)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90B_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ViscontiHoldingsLLCMember_zWUPn5GfbTA7" title="Weighted average remaining lease term (years)">4.5</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: center">NA</td> <td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></p> 0.06 P4Y6M <p id="xdx_806_eus-gaap--LesseeFinanceLeasesTextBlock_zTZSScFb2tp7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">6. <span id="xdx_823_zLYSgWPqNOrh">Finance Leases</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Vehicle and Equipment Lease</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has various finance leases for two forklifts and a copy machine. All leases were for 60-month terms at rates ranging from <span id="xdx_903_eus-gaap--FinanceLeaseWeightedAverageDiscountRatePercent_iI_dp_c20260930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VehicleAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_zsSzNS0c6292" title="Finance leases Interest rate">5</span>% to <span id="xdx_902_eus-gaap--FinanceLeaseWeightedAverageDiscountRatePercent_iI_dp_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VehicleAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_zDlAuEEdWjua" title="Finance leases Interest rate">7.5</span>%. No new finance leases were entered into during the three and nine months ended September 30, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Finance leases recorded in property and equipment, net on the condensed consolidated balance sheets were as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_89D_ecustom--FinanceLeaseCostTableTextBlock_zVGbxZuwwXB3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Finance Leases (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B9_zHAlnkLOZqgg" style="display: none">Schedule of Finance lease</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-indent: -10pt">Cost</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization_iI_c20260930_zziBZUsh78aj" style="width: 12%; text-align: right" title="Cost">76,972</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization_iI_c20251231_zUhyliVfyHr9" style="width: 12%; text-align: right" title="Cost">76,972</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Accumulated Depreciation</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization_iNI_di_c20260930_zRkcojMp5Xs6" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated Depreciation">(43,611</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization_iNI_di_c20251231_zMkwntAQkb3k" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated Depreciation">(33,269</td> <td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Net Book Value</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization_iI_c20260930_zxJz6BsV2lGf" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Book Value">33,361</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization_iI_c20251231_z7ZEFmgxHJTc" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Book Value">43,703</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p id="xdx_8AE_zsuk42bsF6I3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">AquaSport lease</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 20, 2023 Twin Vee incorporated AquaSport Co., a wholly owned subsidiary, in the state of Florida in connection with its plan to lease the AQUASPORT™ boat brand and manufacturing facility in White Bluff, Tennessee. On May 5, 2023, Twin Vee and AquaSport Co. entered into an agreement (the “AquaSport Lease”) with Ebbtide Corporation (“Ebbtide”) providing AquaSport Co. with the right to acquire assets, AQUASPORT™ boat brand, trademarks, 150,000-square-foot manufacturing facility situated on 18.5 acres in White Bluff Tennessee, related tooling, molds, and equipment to build five AquaSport models ranging in size from 21 to 25-foot boats.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May 28, 2025, the Company entered into a Mutual Release Agreement with Ebbtide, removing all obligations under the AquaSport Lease, and returning to Ebbtide all property, plant and equipment, brand name and all other leased assets. During the second quarter of 2025, the Company recorded the elimination of the assets and liabilities from its condensed consolidated balance sheet, recording a loss on termination of $57,903.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At September 30, 2026 and December 31, 2025, supplemental balance sheet information related to finance leases were as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_89E_ecustom--ScheduleOfsupplementalBalanceSheetInformationRelatedToFinanceLeasesTableTextBlock_zZVsgCXtCTHi" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Finance Leases (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B4_zHiAxL9b90y5" style="display: none">Schedule of supplemental balance sheet of finance lease</span></td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_499_20260930_zHjh2WwKwh9j" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_49A_20251231_zYUW4PiHX346" style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Finance lease liabilities:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinanceLeaseLiabilityCurrent_iI_zfzAT851IU5e" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Current portion</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">17,281</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">19,498</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_zBxdpKVSUGTj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Non-current portion</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">9,078</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">22,145</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseLiability_iI_zLOJwsf0rMp9" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Total</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">26,359</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">41,643</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_z0sHWePAGzi8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At September 30, 2026, future minimum lease payments under the non-cancelable finance leases are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--FinanceLeaseLiabilityMaturityTableTextBlock_zIraAXRrFn29" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Finance Leases (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B6_zOlQGrcJwPUd" style="display: none">Schedule of future minimum lease payments of finance lease</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20260930_zQINw5PMzV91" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left">Year Ending December 31,</td><td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_zvya38umUu8b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">2026 (except for the nine months ended September 30, 2026)</td><td style="width: 1%; text-align: left"> </td><td style="width: 10%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 31%; text-align: right">4,604</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_zdQBcnkXrBMl" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,412</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_z0QKxZfEJrh8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2028</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,657</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iI_zL45h5B8KNN3" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total lease payment</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,673</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_di_zO7YwqcUKW65" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Less imputed interest</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,314</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--FinanceLeaseLiability_iI_zyX1c0Koeci2" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">26,359</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zPxaDAAyELX1" style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" id="xdx_893_ecustom--ScheduleOfSummarizesOtherSupplementalInformationOfFinanceLeaseTableTextBlock_z8K5HjhKe9Ue" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Finance Leases (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B4_zJXaGl2IDDy6" style="display: none">Schedule of summarize other supplemental information of finance lease</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-indent: -10pt">Weighted average discount rate</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_981_eus-gaap--FinancialGuaranteeInsuranceContractsClaimLiabilityWeightedAverageRiskFreeDiscountRate_dp_c20260101__20260930_zyJgtq8hKGy3" style="width: 12%; text-align: right" title="Weighted average discount rate">6.2</td> <td style="width: 1%; text-align: left">%</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_981_eus-gaap--FinancialGuaranteeInsuranceContractsClaimLiabilityWeightedAverageRiskFreeDiscountRate_dp_c20250101__20251231_zoEWdxUuYBS9" style="width: 12%; text-align: right" title="Weighted average discount rate">6.3</td> <td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Weighted average remaining lease term (years)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90D_eus-gaap--FinanceLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260930_zeXSUqG6afWj" title="Weighted average remaining lease term (years)">1.6</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--FinanceLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_zEPYlKnq63O2" title="Weighted average remaining lease term (years)">2.2</span></td> <td style="text-align: left"> </td></tr> </table> <p id="xdx_8A0_z7luCptN7w7l" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> 0.05 0.075 <table cellpadding="0" cellspacing="0" id="xdx_89D_ecustom--FinanceLeaseCostTableTextBlock_zVGbxZuwwXB3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Finance Leases (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B9_zHAlnkLOZqgg" style="display: none">Schedule of Finance lease</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-indent: -10pt">Cost</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization_iI_c20260930_zziBZUsh78aj" style="width: 12%; text-align: right" title="Cost">76,972</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization_iI_c20251231_zUhyliVfyHr9" style="width: 12%; text-align: right" title="Cost">76,972</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Accumulated Depreciation</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization_iNI_di_c20260930_zRkcojMp5Xs6" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated Depreciation">(43,611</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization_iNI_di_c20251231_zMkwntAQkb3k" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated Depreciation">(33,269</td> <td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Net Book Value</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization_iI_c20260930_zxJz6BsV2lGf" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Book Value">33,361</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization_iI_c20251231_z7ZEFmgxHJTc" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Book Value">43,703</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> 76972 76972 43611 33269 33361 43703 <table cellpadding="0" cellspacing="0" id="xdx_89E_ecustom--ScheduleOfsupplementalBalanceSheetInformationRelatedToFinanceLeasesTableTextBlock_zZVsgCXtCTHi" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Finance Leases (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B4_zHiAxL9b90y5" style="display: none">Schedule of supplemental balance sheet of finance lease</span></td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_499_20260930_zHjh2WwKwh9j" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_49A_20251231_zYUW4PiHX346" style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Finance lease liabilities:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinanceLeaseLiabilityCurrent_iI_zfzAT851IU5e" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Current portion</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">17,281</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">19,498</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_zBxdpKVSUGTj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Non-current portion</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">9,078</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">22,145</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseLiability_iI_zLOJwsf0rMp9" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Total</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">26,359</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">41,643</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 17281 19498 9078 22145 26359 41643 <table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--FinanceLeaseLiabilityMaturityTableTextBlock_zIraAXRrFn29" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Finance Leases (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B6_zOlQGrcJwPUd" style="display: none">Schedule of future minimum lease payments of finance lease</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20260930_zQINw5PMzV91" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left">Year Ending December 31,</td><td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_zvya38umUu8b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">2026 (except for the nine months ended September 30, 2026)</td><td style="width: 1%; text-align: left"> </td><td style="width: 10%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 31%; text-align: right">4,604</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_zdQBcnkXrBMl" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,412</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_z0QKxZfEJrh8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2028</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,657</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iI_zL45h5B8KNN3" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total lease payment</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,673</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_di_zO7YwqcUKW65" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Less imputed interest</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,314</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--FinanceLeaseLiability_iI_zyX1c0Koeci2" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">26,359</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 4604 18412 4657 27673 1314 26359 <table cellpadding="0" cellspacing="0" id="xdx_893_ecustom--ScheduleOfSummarizesOtherSupplementalInformationOfFinanceLeaseTableTextBlock_z8K5HjhKe9Ue" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Finance Leases (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B4_zJXaGl2IDDy6" style="display: none">Schedule of summarize other supplemental information of finance lease</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-indent: -10pt">Weighted average discount rate</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_981_eus-gaap--FinancialGuaranteeInsuranceContractsClaimLiabilityWeightedAverageRiskFreeDiscountRate_dp_c20260101__20260930_zyJgtq8hKGy3" style="width: 12%; text-align: right" title="Weighted average discount rate">6.2</td> <td style="width: 1%; text-align: left">%</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_981_eus-gaap--FinancialGuaranteeInsuranceContractsClaimLiabilityWeightedAverageRiskFreeDiscountRate_dp_c20250101__20251231_zoEWdxUuYBS9" style="width: 12%; text-align: right" title="Weighted average discount rate">6.3</td> <td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Weighted average remaining lease term (years)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90D_eus-gaap--FinanceLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260930_zeXSUqG6afWj" title="Weighted average remaining lease term (years)">1.6</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--FinanceLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_zEPYlKnq63O2" title="Weighted average remaining lease term (years)">2.2</span></td> <td style="text-align: left"> </td></tr> </table> 0.062 0.063 P1Y7M6D P2Y2M12D <p id="xdx_80F_eus-gaap--AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_zqqymNiLIbW2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">7. <span id="xdx_822_z4Ank313XLch">Accrued Liabilities</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At September 30, 2026 and December 31, 2025, accrued liabilities consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zzBVcMupvFd9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Accrued Liabilities (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B4_zBRtT9aLQvO6" style="display: none">Schedule of accrued liabilities </span></td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_498_20260930_zNRBCK8rSNfa" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_49A_20251231_zsW4hFX3cuL8" style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr id="xdx_404_eus-gaap--AccruedSalariesCurrent_iI_zG7Be9Kd0Csj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Accrued wages and benefits</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">240,682</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">233,166</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--InterestPayableCurrent_iI_zzaD1ueTAyg8" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Accrued interest</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">97,927</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">146,933</td> <td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_zS0dUecxIUnl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Accrued operating expense</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">355,847</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">98,989</td> <td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ExtendedProductWarrantyAccrual_iI_zhWWVxSFCSFb" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Warranty reserve</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">261,018</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">235,160</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_ze72WEIHBYNf" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span id="xdx_825_z7iKip910cQ2" style="color: White">Accrued Liabilities</span></td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">955,474</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">714,248</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zzBVcMupvFd9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Accrued Liabilities (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B4_zBRtT9aLQvO6" style="display: none">Schedule of accrued liabilities </span></td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_498_20260930_zNRBCK8rSNfa" style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_49A_20251231_zsW4hFX3cuL8" style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td> </td> <td colspan="3" style="text-align: center">September 30,</td> <td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2025</td></tr> <tr id="xdx_404_eus-gaap--AccruedSalariesCurrent_iI_zG7Be9Kd0Csj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Accrued wages and benefits</td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">240,682</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 12%; text-align: right">233,166</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--InterestPayableCurrent_iI_zzaD1ueTAyg8" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Accrued interest</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">97,927</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">146,933</td> <td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_zS0dUecxIUnl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Accrued operating expense</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">355,847</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">98,989</td> <td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ExtendedProductWarrantyAccrual_iI_zhWWVxSFCSFb" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Warranty reserve</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">261,018</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">235,160</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_ze72WEIHBYNf" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span id="xdx_825_z7iKip910cQ2" style="color: White">Accrued Liabilities</span></td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">955,474</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">714,248</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> 240682 233166 97927 146933 355847 98989 261018 235160 955474 714248 <p id="xdx_805_ecustom--MotorFloorplanArrangementsTextBlock_zYotON79rGEf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">8. <span id="xdx_82B_zL9GY7dKp3Wj">Motor Floorplan Arrangements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 30, 2026 and December 31, 2025, the Company had a line of credit with Wells Fargo and Yamaha Motor Finance for $<span id="xdx_909_eus-gaap--LinesOfCreditCurrent_iI_c20260930__us-gaap--LineOfCreditFacilityAxis__custom--WellsFargoAndYamahaMotorFinanceMember_zuvosH1lxpBg" title="Line of credit">1,250,000</span> and $<span id="xdx_900_eus-gaap--LinesOfCreditCurrent_iI_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--WellsFargoAndYamahaMotorFinanceMember_zoZOyEdHmZpb" title="Line of credit">1,000,000</span>, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Interest on the Company’s Wells Fargo line is calculated in two ways: the average daily balance is prime +5%, with a minimum prime at 5.5%, there is also a monthly flat charge of 0.2%, which is 2.4% annualized. After the 150-day due in full period, the average daily balance rate goes up to prime +8.5% with no monthly flat charge. On September 30, 2026 and December 31, 2025 the effective interest rate on the line of credit was approximately 18.1% and 1.2%, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Interest on the Company’s Yamaha line is calculated on the average daily balance +4%, with a minimum prime at 8.0%. On September 30, 2026 and December 31, 2025, the interest rate was <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20260101__20260930_zZVHxSMgxHe2" title="Interest rate">11.2</span>% and <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20250101__20251231_zAaCErNpwq83" title="Interest rate">5.1</span>%, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 30, 2026 and December 31, 2025, the outstanding motor balance with Wells Fargo was $<span id="xdx_90A_eus-gaap--LinesOfCreditCurrent_iI_c20260930__us-gaap--LineOfCreditFacilityAxis__custom--WellsFargoMember_zjvQB2QKtA31" title="Line of credit">58,966</span> and $<span id="xdx_900_eus-gaap--LinesOfCreditCurrent_iI_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--WellsFargoMember_zwdSJvtz0gS2" title="Line of credit">57,285</span>, respectively. On September 30, 2026 and December 31, 2025, the outstanding motor balance with Yamaha Motor Finance was $<span id="xdx_903_eus-gaap--LinesOfCreditCurrent_iI_c20260930__us-gaap--LineOfCreditFacilityAxis__custom--YamahaMotorFinanceMember_zkjEf2cHcL0l" title="Line of credit">97,692</span> and $<span id="xdx_909_eus-gaap--LinesOfCreditCurrent_iI_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--YamahaMotorFinanceMember_zbOoIZwpRxF9" title="Line of credit">238,125</span>, respectively. The outstanding balances are included in accounts payable on the condensed consolidated balance sheets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> 1250000 1000000 0.112 0.051 58966 57285 97692 238125 <p id="xdx_802_eus-gaap--DebtDisclosureTextBlock_zhDMKVLMwrY7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">9. <span id="xdx_820_zfEttS0CcjA">Notes Payable – SBA EIDL Loan</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 22, 2020, the Company received an SBA Economic Injury Disaster Loan (“EIDL”) in the amount of $<span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_iI_c20200422__us-gaap--LongtermDebtTypeAxis__custom--EIDLMember_zwNW79YHfq22" title="Loan amount">499,900</span> ($<span id="xdx_902_ecustom--ProcessingFee_c20260101__20260930_ztWkXhkKHeWl" title="Processing fee">500,000</span> less a $100 processing fee). The loan is in response to the COVID-19 pandemic. The loan is a 30-year loan with an interest rate of <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20200421__20200422__us-gaap--LongtermDebtTypeAxis__custom--EIDLMember_z9k64Sq1v5A4" title="Interest rate">3.75</span>%, interest only monthly payments of $<span id="xdx_906_eus-gaap--DebtInstrumentPeriodicPayment_c20200421__20200422__us-gaap--LongtermDebtTypeAxis__custom--EIDLMember_zsMVE636bFHa" title="Periodic payments">2,437</span> began October 22, 2022, under the EIDL program, which is administered through the SBA. Under the guidelines of the EIDL, the maximum term is 30 years; however, terms are determined on a case-by-case basis based on each borrower’s ability to repay and carry an interest rate of 3.75%. The EIDL loan has an initial deferment period wherein no payments are due for thirty months from the date of disbursement. The EIDL loan may be prepaid by the Company at any time prior to maturity with no prepayment penalties. The proceeds from this loan must be used solely as working capital to alleviate economic injury caused by the COVID-19 pandemic.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As part of the EIDL loan, the Company granted the SBA a continuing security interest in and to any and all collateral to secure payment and performance of all debts, liabilities and obligations of the Company to the SBA under the EIDL loan. The collateral includes substantially all tangible and intangible personal property of the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A summary of the minimum maturities of term debt follows for the years set forth below.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_884_eus-gaap--ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_z4raIaOR1a3h" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Notes Payable - SBA EIDL Loan (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"> <span id="xdx_8B6_zG0ABcFSzds4" style="display: none">Schedule of minimum maturities</span> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_491_20260930_zKqusPPWirSh" style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left">Year ended December 31,</td> <td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr id="xdx_402_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_ztyQjPtUvoY3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2026 (except for the nine months ended September 30, 2026)</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1028">—</span></td> <td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_zBrtOogtBXre" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; width: 44%; text-align: left; text-indent: -10pt">2027</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 10%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 43%; text-align: right">6,611</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_zqOCOuu8Q6y5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2028</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">10,932</td> <td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_zjeuc8XL4ULk" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2029</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">11,349</td> <td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_zqW8bJAhIIH2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2030 and thereafter</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">471,008</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LongTermDebt_iI_zufi7KbQEbag" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">499,900</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> 499900 500,000 0.0375 2437 <table cellpadding="0" cellspacing="0" id="xdx_884_eus-gaap--ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_z4raIaOR1a3h" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Notes Payable - SBA EIDL Loan (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"> <span id="xdx_8B6_zG0ABcFSzds4" style="display: none">Schedule of minimum maturities</span> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_491_20260930_zKqusPPWirSh" style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left">Year ended December 31,</td> <td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr id="xdx_402_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_ztyQjPtUvoY3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2026 (except for the nine months ended September 30, 2026)</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1028">—</span></td> <td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_zBrtOogtBXre" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; width: 44%; text-align: left; text-indent: -10pt">2027</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 10%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 43%; text-align: right">6,611</td> <td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_zqOCOuu8Q6y5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2028</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">10,932</td> <td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_zjeuc8XL4ULk" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2029</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">11,349</td> <td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_zqW8bJAhIIH2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">2030 and thereafter</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">471,008</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LongTermDebt_iI_zufi7KbQEbag" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">499,900</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 6611 10932 11349 471008 499900 <p id="xdx_802_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zTrVIEJ3sILg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">10. <span id="xdx_829_zotTnMGn6jw6">Related Party Transactions</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As discussed in Note 4, the Company has leased its Fort Pierce, Florida facilities from a company owned by its CEO.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company leases an aircraft from Aero Beach Club, LLC, an entity controlled by the Company’s Chief Executive Officer. The lease was assumed by the Company on December 21, 2022, and requires monthly payments of $3,500 and may be terminated by either party upon 30 days’ written notice.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_805_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_z16R6ACS21J5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">11. <span id="xdx_82C_zzG0cqfVyvf9">Commitments and Contingencies</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Repurchase Obligations</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under certain conditions, the Company is obligated to repurchase new inventory repossessed from dealerships by financial institutions that provide credit to the Company’s dealers. The maximum obligation of the Company under such floor plan agreements totaled $<span id="xdx_901_eus-gaap--ContractualObligation_iI_pp0p0_c20260930_zHoVUQsFO76k" title="Maximum obligation">8,002,915</span> or 40 units and $<span id="xdx_901_eus-gaap--ContractualObligation_iI_pp0p0_c20251231_zRrmniq6A8Cb" title="Maximum obligation">10,437,389</span> or 65 units, as of September 30, 2026 and December 31, 2025, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 21, 2025, Northpoint Commercial Finance LLC (“Northpoint”) came into possession of certain Twin Vee and AquaSport inventory of United Marine and Storage LLC, a former dealer of Twin Vee PowerCats. Northpoint requested Twin Vee PowerCats Co. to take possession of the inventory and to repurchase the inventory in accordance with the Repurchase Agreement between Twin Vee PowerCats Co. and Northpoint. The Company was able to negotiate a condition reduction on these repossessed boats which resulted in an obligation of $<span id="xdx_904_ecustom--ObligationFee_iI_c20250421_z1Z2nRZuTYv3" title="Obligation fee">460,220</span> to Northpoint Commercial Financial. During the second quarter of 2025, the Company sold five of the six repossessed boats, resulting in a net loss of approximately $<span id="xdx_90F_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20250402__20250421_z3Ghu1RlCj43" title="Net loss">14,875</span> after transportation, refurbishment, and commissions. During the third quarter of 2025, the Company paid its obligation to Northpoint for its one remaining repurchase obligation of $58,984 and is currently marketing this boat for sale. The Company expects to fully recover the amount of the repurchase obligation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Litigation</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is currently involved in various legal proceedings. See Item 3. Legal Proceedings in our Annual Report on Form 10-K which we filed with the SEC on February 27, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Irrevocable line of credit</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of September 30, 2026 and December 31, 2025, the Company had $<span id="xdx_906_eus-gaap--RestrictedCash_iI_c20260930_zMsvPYfVSQTb" title="Restricted cash">208,143</span> and $<span id="xdx_901_eus-gaap--RestrictedCash_iI_c20251231_zomU6tNbicag" title="Restricted cash">215,117</span>, respectively, of restricted cash included in cash, cash equivalents and restricted cash. This amount represents a deposit to secure an irrevocable letter of credit for a supplier contract with Yamaha. These deposits are held in an interest-bearing account.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> 8002915 10437389 460220 14875 208143 215117 <p id="xdx_802_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zqEkXvRjRi61" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">12. <span id="xdx_82A_zn5tW9F055Dg">Stockholders’ Equity</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the first quarter of 2026, we completed three equity offerings pursuant to which we issued and sold an aggregate of 468,862 shares of our common stock. The aggregate net proceeds to us from the offerings, after deducting the placement agent fees and expenses and our estimated offering expenses, were approximately $<span id="xdx_90F_eus-gaap--OrganizationalAndOfferingCostsExpense_c20260101__20260930_zeN8tsmkKKbg" title="Offering expenses">5,800,025</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All share and exercise price information set forth in this Note 11 has been retrospectively adjusted for the one-for-37 reverse stock split effective May 4, 2026 and the one-for ten reverse stock split effective April 7, 2025</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><i>February 2026 Offering</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 19, 2026, we entered into a placement agency agreement with ThinkEquity LLC, as sole placement agent, pursuant to which we agreed to issue and sell directly to various investors in a best-efforts public offering (the “February 2026 Offering”) an aggregate of <span id="xdx_909_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20260218__20260219_zcnEYUkVQC4j" title="Common stock shares issued">172,513</span> shares of our common stock at a public offering price of $<span id="xdx_90B_ecustom--PublicOfferingPricePerShare_iI_c20260219_zX02R1Vcqk5a" title="Public offering price per share">17.39</span> per share. The shares were sold pursuant to a registration statement on Form S-1 (File No. 333-292661) filed with the Securities and Exchange Commission (the “SEC”) which became effective on February 13, 2026, and a prospectus, dated February 19, 2026. The February 2026 Offering closed on February 23, 2026. The net proceeds to us from the February 2026 Offering, after deducting the placement agent fees and expenses and our estimated offering expenses, were approximately $<span id="xdx_902_eus-gaap--OrganizationalAndOfferingCostsExpense_c20260218__20260219_zJwM5J2Wajof" title="Offering expenses">2,427,605</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><i>March 2026 Offering</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March 16, 2026, we entered into a placement agency agreement with ThinkEquity LLC, as sole placement agent, pursuant to which we agreed to issue and sell directly to various investors in a best-efforts public offering (the “March 2026 Offering”) an aggregate of <span id="xdx_90E_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20260315__20260316_z0I0EWV9xNIk" title="Common stock shares issued">120,892</span> shares of our common stock at a public offering price of $<span id="xdx_902_ecustom--PublicOfferingPricePerShare_iI_c20260316_zk6Mpw1TIeL3" title="Public offering price per share">14.06</span> per share. The shares were sold pursuant to a registration statement on Form S-3 (File No. 333-293911) filed with the SEC which became effective on March 5, 2026, and a prospectus, dated March 16, 2026. The March 2026 Offering closed on March 17, 2026. The net proceeds to us from the March 2026 Offering, after deducting the placement agent fees and expenses and our estimated offering expenses, were approximately $<span id="xdx_90A_eus-gaap--OrganizationalAndOfferingCostsExpense_c20260315__20260316_zX6DHEBANqKd" title="Offering expenses">1,313,861</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><i>March 2026 Offering B</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March 23, 2026, we entered into a placement agency agreement with ThinkEquity LLC, as sole placement agent, pursuant to which we agreed to issue and sell directly to various investors in a best-efforts public offering (the “March 2026 Offering B” and, together with the February 2026 Offering and the March 2026 Offering, the “2026 Offerings”) an aggregate of <span id="xdx_904_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20260322__20260323_zSn9UWpE2839" title="Common stock shares issued">175,457</span> shares of our common stock at a public offering price of $<span id="xdx_90F_ecustom--PublicOfferingPricePerShare_iI_c20260323_zPFZJRxzMcd5" title="Public offering price per share">14.21</span> per share. The shares were sold pursuant to a registration statement on Form S-3 (File No. 333-293911) filed with the SEC which became effective on March 5, 2026, and a prospectus, dated March 23, 2026. The March 2026 Offering B closed on March 24, 2026. The net proceeds to us from the March 2026 Offering B, after deducting the placement agent fees and expenses and our estimated offering expenses, were approximately $<span id="xdx_90B_eus-gaap--OrganizationalAndOfferingCostsExpense_c20260322__20260323_zmd1UiQAXhag" title="Offering expenses">2,058,559</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Common Stock Warrants</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">During the nine months ended September 30, 2026, the Company issued warrants in connection with the 2026 Offerings. The Company issued an aggregate of approximately <span id="xdx_908_ecustom--AggregateShares_iI_c20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockIssuanceMember_zmxEJe3xdYGk" title="Aggregate shares">22,182</span> warrants to purchase shares of its common stock at exercise prices ranging from $17.58 to $21.74 per share.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Each warrant is exercisable for one share of the Company’s common stock, is exercisable immediately upon issuance, and is subject to customary beneficial ownership limitations of 4.99% or 9.99%, at the election of the holder. The warrants are settled in shares of common stock and do not contain provisions that would require or permit net cash settlement by the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company evaluated the warrants under the guidance in ASC 815-40, <i>Contracts in Entity’s Own Equity</i>, and determined that the warrants are indexed to the Company’s own stock and meet the criteria for equity classification. Accordingly, the warrants are recorded within additional paid-in capital and are not subject to subsequent remeasurement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The warrants were issued with exercise prices that are nominal or otherwise represent instruments that are substantively equivalent to common stock, as substantially all of the consideration was received upfront. The Company evaluated the relative fair value of the warrants and determined that the incremental fair value attributable to the warrants was not material. Accordingly, substantially all of the proceeds from the 2026 Offerings were allocated to common stock and additional paid-in capital, with no material allocation to the warrants.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">As of September 30, 2026 and December 31, 2025, the Company had outstanding warrants to purchase an aggregate of<span id="xdx_905_ecustom--AggregateShares_iI_c20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsMember_zBDpKukKpAX1" title="Aggregate shares"> 7,363</span> and <span id="xdx_90C_ecustom--AggregateShares_iI_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsMember_zrC74fVs7BD1" title="Aggregate shares">2,483</span> shares of common stock, respectively (in all cases, after giving effect to the one-for-37 reverse stock split effective May 4, 2026 and the one-for ten reverse stock split effective April 7, 2025):</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; color: #222222"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="color: black">●</span></td> <td style="text-align: justify"><span style="color: black">warrants to purchase <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20210723__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsMember_zmArW4vCvkz8" title="Warrants outstanding">405</span> shares of common stock at an exercise price of $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20210723__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsMember_zVWTYysoLnm" title="Warrants weighted-average exercise">2,775.00</span> per share that were issued to the representative of the underwriters on July 23, 2021, in connection with the Company’s IPO. The representative’s warrants were exercisable at any time and from time to time, in whole or in part, and expired on July 20, 2026.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 47.25pt; text-align: justify; text-indent: -0.25in; background-color: white; color: #222222"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="color: black">●</span></td> <td style="text-align: justify"><span style="color: black">warrants to purchase <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20221003__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsMember_z1QL45pVtjM5" title="Warrants outstanding">338</span> shares of common stock at an exercise price of $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20221003__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsMember_zMTQTn89VUzf" title="Warrants weighted-average exercise">1,272.06</span> were issued to the representative of the underwriters on October 3, 2022, in connection with an underwritten public offering. These representative’s warrants are exercisable at any time and from time to time, in whole or in part, and expire on September 28, 2027.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 47.25pt; text-align: justify; text-indent: -0.25in; background-color: white; color: #222222"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 47.25pt; text-align: justify; text-indent: -0.25in; background-color: white; color: #222222"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px">●</td> <td style="text-align: justify">warrants to purchase <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20241126__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsMember_zPMAwQHqnY59" title="Warrants outstanding">285</span> shares of common stock at an exercise price of $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20241126__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsMember_za4uARjBrvli" title="Warrants weighted-average exercise">3,781.40</span>. These warrants were assumed by the Company on November 26, 2024 in connection with the Merger and were converted into a warrant to purchase the number of shares of Company common stock that the holder would have received if such holder had exercised such warrant to purchase shares of Forza common stock prior to the Merger. These representative’s warrants were originally issued in connection with Forza X1, Inc.’s initial public offering that closed on August 16, 2022, and are exercisable at any time and from time to time, in whole or in part, and expire on August 11, 2027</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 47.25pt; text-align: justify; text-indent: -0.25in; background-color: white; color: #222222"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="color: black">●</span></td> <td style="text-align: justify"><span style="color: black">warrants to purchase <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20241126__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsOneMember_zMFioAWhPGGe" title="Warrants outstanding">441</span> shares of common stock at an exercise price of $<span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20241126__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsOneMember_z7zUJDfwHY07" title="Warrants weighted-average exercise">1,135.90</span>. These warrants were assumed by the Company on November 26, 2024 in connection with the Merger and were converted into a warrant to purchase the number of shares of Company common stock that the holder would have received if such holder had exercised such warrant to purchase shares of Forza common stock prior to the Merger. These representative’s warrants were originally issued in connection with Forza X1, Inc.’s public offering that closed on June 14, 2023, and are exercisable at any time and from time to time, in whole or in part, and expire on June 12, 2028.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 47.25pt; text-align: justify; text-indent: -0.25in; background-color: white; color: #222222"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="color: black">●</span></td> <td style="text-align: justify"><span style="color: black">warrants to purchase <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20250512__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsOneMember_zYjKW3sQeuCi" title="Warrants outstanding">1,014 </span>shares of common stock at an exercise price of $<span id="xdx_903_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250512__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsOneMember_z3FDFWyPErUj" title="Warrants weighted-average exercise">185.00</span> were issued to the representative of the underwriters on May 12, 2025, in connection with an underwritten public offering. These representative’s warrants are exercisable at any time and from time to time, in whole or in part, and expire on May 8, 2030.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 47.25pt; text-align: justify; text-indent: -0.25in; background-color: white; color: #222222"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="color: black">●</span></td> <td style="text-align: justify"><span style="color: black">warrants to purchase <span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260223__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsOneMember_z9zH0fUvcCV9" title="Warrants outstanding">7,365</span> shares of common stock at an exercise price of $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260223__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsOneMember_zYLpvrAhcF9" title="Warrants weighted-average exercise">21.7375</span> were issued to the placement agent on February 23, 2026, in connection with a best efforts public offering. These placement agent’s warrants are exercisable at any time and from time to time, in whole or in part, and expire on February 19, 2031. Several warrants were exercised in July 2026, resulting in warrants to purchase 2,994 shares of common stock at an exercise price of $21.7375 remaining.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 47.25pt; text-align: justify; text-indent: -0.25in; background-color: white; color: #222222"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="color: black">●</span></td> <td style="text-align: justify"><span style="color: black">warrants to purchase <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260317__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsOneMember_zrtnrb3Y7xi6" title="Warrants outstanding">6,045</span> shares of common stock at an exercise price of $<span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260317__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsMember_zFmsm9R77QD2" title="Warrants weighted-average exercise">17.575</span> were issued to the placement agent on March 17, 2026, in connection with a best efforts public offering. These placement agent’s warrants are exercisable at any time and from time to time, in whole or in part, and expire on March 16, 2031. Several warrants were exercised in July 2026, resulting in warrants to purchase 3,349 shares of common stock at an exercise price of $17.575 remaining.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 47.25pt; text-align: justify; text-indent: -0.25in; background-color: white; color: #222222"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="color: black">●</span></td> <td style="text-align: justify"><span style="color: black">warrants to purchase <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260324__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsOneMember_z3ViHlTnCls3" title="Warrants outstanding">8,773</span> shares of common stock at an exercise price of $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260324__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsOneMember_zJokHa1EmVBi" title="Warrants weighted-average exercise">17.76</span> were issued to the placement agent on March 24, 2026, in connection with a best efforts public offering. These placement agent’s warrants are exercisable at any time and from time to time, in whole or in part, and expire on March 23, 2031. Several warrants were exercised in July 2026, resulting in warrants to purchase 3,500 shares of common stock at an exercise price of $17.76 remaining.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 47.25pt; text-align: justify; text-indent: -0.25in; background-color: white; color: #222222"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 47.25pt; text-align: justify; text-indent: -0.25in; background-color: white; color: #222222"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Equity Compensation Plan</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company maintains an equity compensation plan (the 2021 Stock Incentive Plan, or the “Plan”) under which it may award employees, directors and consultants’ incentive and non-qualified stock options, restricted stock, stock appreciation rights and other stock-based awards with terms established by the Compensation Committee of the Board of Directors which has been appointed by the Board of Directors to administer the Plan.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accounting for Stock-Based Compensation</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Stock Compensation Expense</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the three months ended September 30, 2026 and 2025, the Company recorded $<span id="xdx_90C_eus-gaap--AllocatedShareBasedCompensationExpense_c20260107__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zOTKaeJeEGef" title="Stock based compensation expense">36,024</span> and $<span id="xdx_90D_eus-gaap--AllocatedShareBasedCompensationExpense_c20250107__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zFNkL4qYggs8" title="Stock based compensation expense">63,897</span>, respectively, of stock-based compensation expense. For the nine months ended September 30, 2026 and 2025, the Company recorded $<span id="xdx_900_eus-gaap--AllocatedShareBasedCompensationExpense_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zG5nXPctflI6" title="Stock based compensation expense">166,034</span> and $<span id="xdx_90C_eus-gaap--AllocatedShareBasedCompensationExpense_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_ztX4qIUmhEUj" title="Stock based compensation expense">179,493</span>, respectively, of stock-based compensation expense Stock-based compensation expense is included in salaries and wages on the accompanying condensed consolidated statement of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Stock Options</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Under the Company’s 2021 Stock Incentive Plan, the Company has issued stock options. A stock option grant gives the holder the right, but not the obligation, to purchase a certain number of shares at a predetermined price for a specific period of time. The Company typically issues options that vest pro rata on a monthly basis over various periods. Under the terms of the Plan, the contractual life of the option grants may not exceed ten years.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company utilizes the Black-Scholes model to determine fair value of stock option awards on the date of grant. No option grants were issued during the three and nine months ended September 30, 2026 and 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The expected volatility of the option is determined using historical volatilities based on historical stock price of comparable boat manufacturing companies. The Company estimated the expected life of the options granted based upon historical weighted average of comparable boat manufacturing companies. The risk-free interest rate is determined using the St. Louis Federal Reserve yield curve rates with a remaining term equal to the expected life of the option. The Company has never paid a dividend, and as such the dividend yield is <span id="xdx_903_ecustom--ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedDividendsRate_dp_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zfnTtgq2XqZf" title="Dividend yield">0.0</span>%</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zDmpgiyK3nSh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Stockholders' Equity (Details )"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"> <span id="xdx_8B6_z2SKQghi8lkh" style="display: none">Schedule of option activity</span> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="7" style="border-bottom: Black 1pt solid; text-align: center">Options Outstanding</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Weighted</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td> </td> <td colspan="3" style="text-align: center">Number of</td><td> </td> <td colspan="3" style="text-align: center">Weighted Average</td><td> </td> <td colspan="3" style="text-align: center">Average Remaining life</td><td> </td> <td colspan="3" style="text-align: center">Grant Date Fair value of</td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Options</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">(years)</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">option</td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 27%; text-align: left; text-indent: -10pt">Outstanding, January 1, 2026</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zLNNKxgOXX6i" style="width: 13%; text-align: right" title="Number of options outstanding at beginning of period">6,239</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zHVmSyDa09J4" style="width: 13%; text-align: right" title="Weighted average exercise price at beginning of period">966.77</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zbTxT17dg8x7" title="Weighted average remaining life (years)">7.44</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsFairValue1_iS_pp0p0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_z0IW2CRzzwVk" style="width: 13%; text-align: right" title="Grant date fair value of options at beginning of period">1,597,681</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zJCEuSbn0KN1" style="text-align: right" title="Number of options, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1148">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_d0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zF6JnYHcRxZe" style="text-align: right" title="Weighted average exercise price, Granted">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedInPeriodFairValue1_pp0p0_d0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_ziAjecTuuHge" style="text-align: right" title="Grant date fair value of options, Granted">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Exercised</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zgUlS3ruyf6d" style="text-align: right" title="Number of options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1154">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_d0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zciQfmBVwm1i" style="text-align: right" title="Weighted average exercise price, Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisedInPeriodFairValue1_pp0p0_d0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zux0VMjTn0al" style="text-align: right" title="Grant date fair value of options, exercised">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Expired</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpiredInPeriod_iN_di_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zkj3BHwYQgHa" style="text-align: right" title="Number of options, Expired">(157</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpiredInPeriodWeightedAverageExercisePrice_iN_di_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zKzlpULt9asd" style="text-align: right" title="Weighted average exercise price, Expired">(733.06</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExpiredInPeriodFairValue1_pp0p0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zCJlL4NGbWla" style="text-align: right" title="Grant date fair value of options, Expired">(23,096</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Forfeited/canceled</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zEptJTfBNTDk" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, Forfeited/canceled">(1</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_iN_di0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zvNyldW7DyBe" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Forfeited/canceled">(421.80</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeitedCanceledInPeriodFairValue1_pp0p0_d0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zHVYqh02jtoc" style="border-bottom: Black 1pt solid; text-align: right" title="Grant date fair value of options, Forfeited/canceled">(30</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Outstanding, September 30, 2026</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zDMu2IqV9na6" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options outstanding at ending of period">6,081</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zuToleJRs7Ld" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price at ending of period">972.90</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zAZO6ApINbg6" title="Weighted average remaining life (years)">5.19</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsFairValue1_iE_pp0p0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zepkkGpR8iqg" style="border-bottom: Black 2.5pt double; text-align: right" title="Grant date fair value of options at ending of period">1,574,555</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Exercisable options, September 30, 2026</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zTXWTbajd9mg" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, Exercisable options">5,128</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zgu5YXBMOnX4" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, Exercisable options">1,132.88</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_908_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zvUvfNHirRta" title="Weighted average remaining life (years)">6.56</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_ecustom--GrantDateFairValueOfExercisableOptionsAtOfPeriod_pp0p0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zb2k2ee6OWAg" style="border-bottom: Black 2.5pt double; text-align: right" title="Grant date fair value of exercisable options at of period">1,522,899</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="7" style="border-bottom: Black 1pt solid; text-align: center">Options Outstanding</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Weighted</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Number of <br/> Options</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average <br/> Exercise Price</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Average Remaining life <br/> (years)</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Grant Date Fair<br/> value of option</td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 27%; text-align: left; text-indent: -10pt">Outstanding, January 1, 2025</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zABAuObmuoB2" style="width: 13%; text-align: right" title="Number of options outstanding at beginning of period">5,757</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_znElniNUbBd8" style="width: 13%; text-align: right" title="Weighted average exercise price at beginning of period">1,084.53</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zGRK7eAExNXh" title="Weighted average remaining life (years)">5.04</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsFairValue1_iS_pp0p0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zMAtl5kRAbud" style="width: 13%; text-align: right" title="Grant date fair value of options at beginning of period">1,699,877</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zmPDyCeiCxm" style="text-align: right" title="Number of options, Granted">1,944</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_d0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zbqhlXMWzsk2" style="text-align: right" title="Weighted average exercise price, Granted">100.27</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedInPeriodFairValue1_pp0p0_d0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zN8sqeWLbum7" style="text-align: right" title="Grant date fair value of options, Granted">98,271</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Exercised</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zYaQ5CZiIHFl" style="text-align: right" title="Number of options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1202">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_d0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zzQGxpFwP9Y" style="text-align: right" title="Weighted average exercise price, Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisedInPeriodFairValue1_pp0p0_d0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zFbuJu8chJi9" style="text-align: right" title="Grant date fair value of options, exercised">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Expired</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpiredInPeriod_iN_di_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zfvHE776PLe9" style="text-align: right" title="Number of options, Expired">(112</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpiredInPeriodWeightedAverageExercisePrice_iN_di_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zKZca47APEJl" style="text-align: right" title="Weighted average exercise price, Expired">(1,029.66</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExpiredInPeriodFairValue1_pp0p0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zQPmcZ79BoR9" style="text-align: right" title="Grant date fair value of options, Expired">(50,224</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Forfeited/canceled</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zc5DW7cs2Qch" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, Forfeited/canceled">(1,008</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_iN_di0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zhhp0VUk9Exh" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Forfeited/canceled">(186.86</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeitedCanceledInPeriodFairValue1_pp0p0_d0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zLpg7mwEtWt7" style="border-bottom: Black 1pt solid; text-align: right" title="Grant date fair value of options, Forfeited/canceled">(98,080</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Outstanding, September 30, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zcoc4DeFFRDd" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options outstanding at ending of period">6,581</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zORNHdEwPyfl" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price at ending of period">932.22</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zJ5du91zaMBd" title="Weighted average remaining life (years)">5.19</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsFairValue1_iE_pp0p0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zqWS946GVLg3" style="border-bottom: Black 2.5pt double; text-align: right" title="Grant date fair value of options at ending of period">1,649,845</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Exercisable options, September 30, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_z7SRxPWQLij3" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, Exercisable options">4,415</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zFxiZlcsBsUk" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, Exercisable options">1,309.62</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90D_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zW4IL1njoXGg" title="Weighted average remaining life (years)">6.55</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_ecustom--GrantDateFairValueOfExercisableOptionsAtOfPeriod_pp0p0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zuwBOpidRmf8" style="border-bottom: Black 2.5pt double; text-align: right" title="Grant date fair value of exercisable options at of period">1,502,532</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A3_z35jx3HbVmu3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At September 30, 2026, <span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zXIaSNNmTv9g" title="Options unvested and expected shares">953</span> Twin Vee options are unvested and expected to vest over the next four years.<br/> <br/> Restricted Stock Units</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Under the Company’s 2021 Stock Incentive Plan, the Company has issued restricted stock units (“RSUs”). RSUs are granted with fair value equal to the closing market price of the Company’s common stock on the business day of the grant date. An award may vest completely at a point in time (cliff-vest) or in increments over time (graded-vest). Generally, RSUs vest over three years. There were 170 RSUs exercisable on September 30, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p> <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_zDduaRmve5n2" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Stockholders' Equity (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B2_zDUajlhX8sMf" style="display: none">Schedule of restricted stock options</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="7" style="border-bottom: Black 1pt solid; text-align: center">Restricted Stock Units Outstanding</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td> </td> <td colspan="3" style="text-align: center">Number of</td><td> </td> <td colspan="3" style="text-align: center">Weighted Average <br/> Grant – Date</td><td> </td> <td colspan="3" style="text-align: center">Weighted Average <br/> Remaining life</td><td> </td> <td colspan="3" style="text-align: center">Aggregate Intrinsic</td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Units</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Fair Value Price</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">(years)</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Value</td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 27%; text-align: left; text-indent: -10pt">Outstanding, January 1, 2026</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z2UfmWfnwH1c" style="width: 13%; text-align: right" title="Number of options outstanding at beginning of period">332</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z0LrxM0AqyL9" style="width: 13%; text-align: right" title="Weighted average exercise price at beginning of period">394.64</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zY87GxuXxfbh" title="Weighted average remaining life (years)">1.35</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp0p0_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zh8k0VBIUSA2" style="width: 13%; text-align: right" title="Aggregate intrinsic value at beginning of period">4,445</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zxan6ThL0FLi" style="text-align: right" title="Number of options, Granted">3,970</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zAOsoUlm7hn" style="text-align: right" title="Weighted average grant - date fair value price, Granted">4.82</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedIntrinsicValue1_iI_pp0p0_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zaH5Fp337kxd" style="text-align: right" title="Aggregate intrinsic value Granted">53,158</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Vested</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_di0_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zjFxZ7mFF786" style="text-align: right" title="Number of options, Exercised">(3,970</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_d0_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zaBc0nZum0P1" style="text-align: right" title="Weighted average exercise price, Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisedIntrinsicValue1_iI_pp0p0_d0_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmVkCxHOn405" style="text-align: right" title="Aggregate intrinsic value Exercised">(53,158</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Forfeited/canceled</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z0z2Qyq7shCj" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, Forfeited/canceled">(8</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_iN_di_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zzbonVfn3N8f" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Forfeited/canceled">(199.61</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeitedIntrinsicValue1_iNI_pp0p0_di_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zzjQsHBcWmnl" style="border-bottom: Black 1pt solid; text-align: right" title="Aggregate intrinsic value Forfeited/canceled">(107</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Outstanding, September 30, 2026</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zwPTaGpSk8w" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options outstanding at ending of period">324</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zYnmoXjYk5eh" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price at ending of period">399.45</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zbj65vpZZNjc" title="Weighted average remaining life (years)">0.77</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pp0p0_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zQtAFRMJSc5" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value at ending of period">4,338</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="7" style="border-bottom: Black 1pt solid; text-align: center">Restricted Stock<br/> Units Outstanding</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td> </td> <td colspan="3" style="text-align: center">Number of</td><td> </td> <td colspan="3" style="text-align: center">Weighted Average <br/> Grant – Date</td><td> </td> <td colspan="3" style="text-align: center">Weighted Average <br/> Remaining life</td><td> </td> <td colspan="3" style="text-align: center">Aggregate Intrinsic</td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Units</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Fair Value Price</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">(years)</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Value</td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 27%; text-align: left; text-indent: -10pt">Outstanding, January 1, 2025</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zuhH1ck9RrD2" style="width: 13%; text-align: right" title="Number of options outstanding at beginning of period">192</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zy0vkYsfuvqh" style="width: 13%; text-align: right" title="Weighted average exercise price at beginning of period">587.61</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zRKofN0jDAB4" title="Weighted average remaining life (years)">1.58</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp0p0_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEV2n9jMASy2" style="width: 13%; text-align: right" title="Aggregate intrinsic value at beginning of period">526</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zA5R2EsE2e2e" style="text-align: right" title="Number of options, Granted">217</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zs4FfO5p9jag" style="text-align: right" title="Weighted average grant - date fair value price, Granted">162.80</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedIntrinsicValue1_pp0p0_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zDhE9xgUTZG3" style="text-align: right" title="Aggregate intrinsic value Granted">594</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Vested</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_d0_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_znaVY8SQtsy4" style="text-align: right" title="Number of options, Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_d0_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zFKkLoneI6r2" style="text-align: right" title="Weighted average exercise price, Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisedIntrinsicValue1_pp0p0_d0_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zSI47gmAe0Ej" style="text-align: right" title="Aggregate intrinsic value Exercised">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Forfeited/canceled</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z4IltcQWlg88" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, Forfeited/canceled">(77</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_iN_di_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zq8x2H6pGVH6" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Forfeited/canceled">(222.45</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeitedIntrinsicValue1_iN_pp0p0_di_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zI593dE3bYs" style="border-bottom: Black 1pt solid; text-align: right" title="Aggregate intrinsic value Forfeited/canceled">(211</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Outstanding, September 30, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zdWrKk0hWDWg" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options outstanding at ending of period">332</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zezcSv3L7Qd" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price at ending of period">376.73</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmowJNZuwVR2" title="Weighted average remaining life (years)">1.52</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pp0p0_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEmId4rXwuxd" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value at ending of period">909</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zCNDS2YFd0Z6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> 5800025 172513 17.39 2427605 120892 14.06 1313861 175457 14.21 2058559 22182 7363 2483 405 2775.00 338 1272.06 285 3781.40 441 1135.90 1014 185.00 7365 21.7375 6045 17.575 8773 17.76 36024 63897 166034 179493 0.000 <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zDmpgiyK3nSh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Stockholders' Equity (Details )"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"> <span id="xdx_8B6_z2SKQghi8lkh" style="display: none">Schedule of option activity</span> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="7" style="border-bottom: Black 1pt solid; text-align: center">Options Outstanding</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Weighted</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td> </td> <td colspan="3" style="text-align: center">Number of</td><td> </td> <td colspan="3" style="text-align: center">Weighted Average</td><td> </td> <td colspan="3" style="text-align: center">Average Remaining life</td><td> </td> <td colspan="3" style="text-align: center">Grant Date Fair value of</td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Options</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">(years)</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">option</td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 27%; text-align: left; text-indent: -10pt">Outstanding, January 1, 2026</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zLNNKxgOXX6i" style="width: 13%; text-align: right" title="Number of options outstanding at beginning of period">6,239</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zHVmSyDa09J4" style="width: 13%; text-align: right" title="Weighted average exercise price at beginning of period">966.77</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zbTxT17dg8x7" title="Weighted average remaining life (years)">7.44</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsFairValue1_iS_pp0p0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_z0IW2CRzzwVk" style="width: 13%; text-align: right" title="Grant date fair value of options at beginning of period">1,597,681</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zJCEuSbn0KN1" style="text-align: right" title="Number of options, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1148">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_d0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zF6JnYHcRxZe" style="text-align: right" title="Weighted average exercise price, Granted">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedInPeriodFairValue1_pp0p0_d0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_ziAjecTuuHge" style="text-align: right" title="Grant date fair value of options, Granted">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Exercised</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zgUlS3ruyf6d" style="text-align: right" title="Number of options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1154">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_d0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zciQfmBVwm1i" style="text-align: right" title="Weighted average exercise price, Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisedInPeriodFairValue1_pp0p0_d0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zux0VMjTn0al" style="text-align: right" title="Grant date fair value of options, exercised">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Expired</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpiredInPeriod_iN_di_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zkj3BHwYQgHa" style="text-align: right" title="Number of options, Expired">(157</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpiredInPeriodWeightedAverageExercisePrice_iN_di_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zKzlpULt9asd" style="text-align: right" title="Weighted average exercise price, Expired">(733.06</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExpiredInPeriodFairValue1_pp0p0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zCJlL4NGbWla" style="text-align: right" title="Grant date fair value of options, Expired">(23,096</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Forfeited/canceled</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zEptJTfBNTDk" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, Forfeited/canceled">(1</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_iN_di0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zvNyldW7DyBe" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Forfeited/canceled">(421.80</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeitedCanceledInPeriodFairValue1_pp0p0_d0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zHVYqh02jtoc" style="border-bottom: Black 1pt solid; text-align: right" title="Grant date fair value of options, Forfeited/canceled">(30</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Outstanding, September 30, 2026</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zDMu2IqV9na6" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options outstanding at ending of period">6,081</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zuToleJRs7Ld" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price at ending of period">972.90</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zAZO6ApINbg6" title="Weighted average remaining life (years)">5.19</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsFairValue1_iE_pp0p0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zepkkGpR8iqg" style="border-bottom: Black 2.5pt double; text-align: right" title="Grant date fair value of options at ending of period">1,574,555</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Exercisable options, September 30, 2026</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zTXWTbajd9mg" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, Exercisable options">5,128</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zgu5YXBMOnX4" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, Exercisable options">1,132.88</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_908_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zvUvfNHirRta" title="Weighted average remaining life (years)">6.56</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_ecustom--GrantDateFairValueOfExercisableOptionsAtOfPeriod_pp0p0_c20260101__20260930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zb2k2ee6OWAg" style="border-bottom: Black 2.5pt double; text-align: right" title="Grant date fair value of exercisable options at of period">1,522,899</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="7" style="border-bottom: Black 1pt solid; text-align: center">Options Outstanding</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Weighted</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Number of <br/> Options</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average <br/> Exercise Price</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Average Remaining life <br/> (years)</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Grant Date Fair<br/> value of option</td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 27%; text-align: left; text-indent: -10pt">Outstanding, January 1, 2025</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zABAuObmuoB2" style="width: 13%; text-align: right" title="Number of options outstanding at beginning of period">5,757</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_znElniNUbBd8" style="width: 13%; text-align: right" title="Weighted average exercise price at beginning of period">1,084.53</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zGRK7eAExNXh" title="Weighted average remaining life (years)">5.04</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsFairValue1_iS_pp0p0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zMAtl5kRAbud" style="width: 13%; text-align: right" title="Grant date fair value of options at beginning of period">1,699,877</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zmPDyCeiCxm" style="text-align: right" title="Number of options, Granted">1,944</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_d0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zbqhlXMWzsk2" style="text-align: right" title="Weighted average exercise price, Granted">100.27</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedInPeriodFairValue1_pp0p0_d0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zN8sqeWLbum7" style="text-align: right" title="Grant date fair value of options, Granted">98,271</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Exercised</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zYaQ5CZiIHFl" style="text-align: right" title="Number of options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1202">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_d0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zzQGxpFwP9Y" style="text-align: right" title="Weighted average exercise price, Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisedInPeriodFairValue1_pp0p0_d0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zFbuJu8chJi9" style="text-align: right" title="Grant date fair value of options, exercised">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Expired</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpiredInPeriod_iN_di_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zfvHE776PLe9" style="text-align: right" title="Number of options, Expired">(112</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpiredInPeriodWeightedAverageExercisePrice_iN_di_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zKZca47APEJl" style="text-align: right" title="Weighted average exercise price, Expired">(1,029.66</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExpiredInPeriodFairValue1_pp0p0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zQPmcZ79BoR9" style="text-align: right" title="Grant date fair value of options, Expired">(50,224</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Forfeited/canceled</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zc5DW7cs2Qch" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, Forfeited/canceled">(1,008</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_iN_di0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zhhp0VUk9Exh" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Forfeited/canceled">(186.86</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeitedCanceledInPeriodFairValue1_pp0p0_d0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zLpg7mwEtWt7" style="border-bottom: Black 1pt solid; text-align: right" title="Grant date fair value of options, Forfeited/canceled">(98,080</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Outstanding, September 30, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zcoc4DeFFRDd" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options outstanding at ending of period">6,581</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zORNHdEwPyfl" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price at ending of period">932.22</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zJ5du91zaMBd" title="Weighted average remaining life (years)">5.19</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsFairValue1_iE_pp0p0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zqWS946GVLg3" style="border-bottom: Black 2.5pt double; text-align: right" title="Grant date fair value of options at ending of period">1,649,845</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Exercisable options, September 30, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_z7SRxPWQLij3" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, Exercisable options">4,415</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zFxiZlcsBsUk" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, Exercisable options">1,309.62</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90D_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zW4IL1njoXGg" title="Weighted average remaining life (years)">6.55</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_ecustom--GrantDateFairValueOfExercisableOptionsAtOfPeriod_pp0p0_c20250101__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TwinVeeMember_zuwBOpidRmf8" style="border-bottom: Black 2.5pt double; text-align: right" title="Grant date fair value of exercisable options at of period">1,502,532</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 6239 966.77 P7Y5M8D 1597681 0 0 0 0 157 733.06 -23096 1 421.80 -30 6081 972.90 P5Y2M8D 1574555 5128 1132.88 P6Y6M21D 1522899 5757 1084.53 P5Y14D 1699877 1944 100.27 98271 0 0 112 1029.66 -50224 1008 186.86 -98080 6581 932.22 P5Y2M8D 1649845 4415 1309.62 P6Y6M18D 1502532 953 <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_zDduaRmve5n2" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Stockholders' Equity (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B2_zDUajlhX8sMf" style="display: none">Schedule of restricted stock options</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="7" style="border-bottom: Black 1pt solid; text-align: center">Restricted Stock Units Outstanding</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td> </td> <td colspan="3" style="text-align: center">Number of</td><td> </td> <td colspan="3" style="text-align: center">Weighted Average <br/> Grant – Date</td><td> </td> <td colspan="3" style="text-align: center">Weighted Average <br/> Remaining life</td><td> </td> <td colspan="3" style="text-align: center">Aggregate Intrinsic</td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Units</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Fair Value Price</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">(years)</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Value</td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 27%; text-align: left; text-indent: -10pt">Outstanding, January 1, 2026</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z2UfmWfnwH1c" style="width: 13%; text-align: right" title="Number of options outstanding at beginning of period">332</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z0LrxM0AqyL9" style="width: 13%; text-align: right" title="Weighted average exercise price at beginning of period">394.64</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zY87GxuXxfbh" title="Weighted average remaining life (years)">1.35</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp0p0_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zh8k0VBIUSA2" style="width: 13%; text-align: right" title="Aggregate intrinsic value at beginning of period">4,445</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zxan6ThL0FLi" style="text-align: right" title="Number of options, Granted">3,970</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zAOsoUlm7hn" style="text-align: right" title="Weighted average grant - date fair value price, Granted">4.82</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedIntrinsicValue1_iI_pp0p0_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zaH5Fp337kxd" style="text-align: right" title="Aggregate intrinsic value Granted">53,158</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Vested</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_di0_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zjFxZ7mFF786" style="text-align: right" title="Number of options, Exercised">(3,970</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_d0_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zaBc0nZum0P1" style="text-align: right" title="Weighted average exercise price, Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisedIntrinsicValue1_iI_pp0p0_d0_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmVkCxHOn405" style="text-align: right" title="Aggregate intrinsic value Exercised">(53,158</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Forfeited/canceled</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z0z2Qyq7shCj" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, Forfeited/canceled">(8</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_iN_di_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zzbonVfn3N8f" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Forfeited/canceled">(199.61</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeitedIntrinsicValue1_iNI_pp0p0_di_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zzjQsHBcWmnl" style="border-bottom: Black 1pt solid; text-align: right" title="Aggregate intrinsic value Forfeited/canceled">(107</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Outstanding, September 30, 2026</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zwPTaGpSk8w" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options outstanding at ending of period">324</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zYnmoXjYk5eh" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price at ending of period">399.45</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zbj65vpZZNjc" title="Weighted average remaining life (years)">0.77</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pp0p0_c20260101__20260930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zQtAFRMJSc5" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value at ending of period">4,338</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="7" style="border-bottom: Black 1pt solid; text-align: center">Restricted Stock<br/> Units Outstanding</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td> </td> <td colspan="3" style="text-align: center">Number of</td><td> </td> <td colspan="3" style="text-align: center">Weighted Average <br/> Grant – Date</td><td> </td> <td colspan="3" style="text-align: center">Weighted Average <br/> Remaining life</td><td> </td> <td colspan="3" style="text-align: center">Aggregate Intrinsic</td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Units</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Fair Value Price</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">(years)</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Value</td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 27%; text-align: left; text-indent: -10pt">Outstanding, January 1, 2025</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zuhH1ck9RrD2" style="width: 13%; text-align: right" title="Number of options outstanding at beginning of period">192</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zy0vkYsfuvqh" style="width: 13%; text-align: right" title="Weighted average exercise price at beginning of period">587.61</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zRKofN0jDAB4" title="Weighted average remaining life (years)">1.58</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp0p0_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEV2n9jMASy2" style="width: 13%; text-align: right" title="Aggregate intrinsic value at beginning of period">526</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Granted</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zA5R2EsE2e2e" style="text-align: right" title="Number of options, Granted">217</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zs4FfO5p9jag" style="text-align: right" title="Weighted average grant - date fair value price, Granted">162.80</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedIntrinsicValue1_pp0p0_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zDhE9xgUTZG3" style="text-align: right" title="Aggregate intrinsic value Granted">594</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Vested</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_d0_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_znaVY8SQtsy4" style="text-align: right" title="Number of options, Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_d0_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zFKkLoneI6r2" style="text-align: right" title="Weighted average exercise price, Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisedIntrinsicValue1_pp0p0_d0_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zSI47gmAe0Ej" style="text-align: right" title="Aggregate intrinsic value Exercised">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Forfeited/canceled</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z4IltcQWlg88" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, Forfeited/canceled">(77</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue_iN_di_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zq8x2H6pGVH6" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Forfeited/canceled">(222.45</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeitedIntrinsicValue1_iN_pp0p0_di_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zI593dE3bYs" style="border-bottom: Black 1pt solid; text-align: right" title="Aggregate intrinsic value Forfeited/canceled">(211</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Outstanding, September 30, 2025</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zdWrKk0hWDWg" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options outstanding at ending of period">332</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zezcSv3L7Qd" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price at ending of period">376.73</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmowJNZuwVR2" title="Weighted average remaining life (years)">1.52</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pp0p0_c20250101__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEmId4rXwuxd" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value at ending of period">909</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 332 394.64 P1Y4M6D 4445 3970 4.82 53158 3970 0 -53158 8 199.61 107 324 399.45 P0Y9M7D 4338 192 587.61 P1Y6M29D 526 217 162.80 594 0 0 0 77 222.45 211 332 376.73 P1Y6M7D 909 <p id="xdx_80E_eus-gaap--ConcentrationRiskDisclosureTextBlock_z9PZ11GdOUPe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">13. <span id="xdx_822_zUDtYaiU7053">Customer Concentration</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Significant dealers are those that account for greater than 10% of the Company’s revenues and purchases.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended September 30, 2026, three individual dealers each represented over <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20260701__20260930__srt--MajorCustomersAxis__custom--OneCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesMembercMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zkqpGaNllBVk" title="Concentration percentage">10</span>% of the Company’s total sales and together represented <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_c20260701__20260930__srt--MajorCustomersAxis__custom--OneIndividualDealerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesMembercMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zg90VpKgHtQ" title="Concentration percentage">77</span>% of total sales. During the three months ended September 30, 2025, four individual dealers represented over <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20250930__srt--MajorCustomersAxis__custom--OneCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesMembercMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zL1V3aha8mGk" title="Concentration percentage">10</span>% of the Company’s total sales and together represented <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_c20250701__20250930__srt--MajorCustomersAxis__custom--OneIndividualDealerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesMembercMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z6ZfbbUPQvQ6" title="Concentration percentage">83</span>% of total sales. During the nine months ended September 30, 2026, four individual dealers each represented over <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_c20260101__20260930__srt--MajorCustomersAxis__custom--OneCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesMembercMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zyPUq4Ql1Z81" title="Concentration percentage">10</span>% of the Company’s total sales and together represented <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_c20260101__20260930__srt--MajorCustomersAxis__custom--OneIndividualDealerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesMembercMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z2S4egcn0d5h" title="Concentration percentage">48</span>% of total sales. During the nine months ended September 30, 2025, four individual dealers represented over <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_c20250101__20250930__srt--MajorCustomersAxis__custom--OneCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesMembercMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zHzWyx2ndfvj" title="Concentration percentage">10</span>% of the Company’s total sales and together represented <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20250101__20250930__srt--MajorCustomersAxis__custom--OneIndividualDealerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesMembercMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z2cnbV8kQMa5" title="Concentration percentage">74</span>% of total sales.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> 0.10 0.77 0.10 0.83 0.10 0.48 0.10 0.74 <p id="xdx_804_eus-gaap--IncomeTaxDisclosureTextBlock_ziQgwuvgoPXj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">14. <span id="xdx_82E_zyaUMFTwDgh9">Income Tax</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Income tax expense or benefit for interim periods is determined using an estimate of the Company’s annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each period, the Company updates the estimate of the annual effective tax rate, and if the estimated tax rate changes, it records a cumulative adjustment. Due to operating losses and the recognition of valuation allowances, the Company has no provision for current and deferred federal or state income taxes for the three or nine months ended September 30, 2026 and 2025. The effective tax rate for each period differs from the statutory rate primarily as a result of having a full valuation allowance maintained against the deferred tax assets. As of September 30, 2026 and December 31, 2025, the Company continued to have a full valuation allowance against its U.S. federal and state deferred tax assets. Management regularly evaluates the realizability of its deferred tax assets. Adjustments are recorded to income during the period in which management makes the determination a deferred tax asset is more likely than not to be realized.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_80A_eus-gaap--SegmentReportingDisclosureTextBlock_z0mkxZ2HkPe4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">15. <span id="xdx_82F_z2tKhphy6yj7">Segment</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company reports segment information based on the “management” approach. The Company’s Chief Operating Decision Maker is its President and Chief Executive Officer. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Company’s reportable segments. The Company operates in two reportable segments: (1) Twin Vee PowerCats, which designs, manufactures, and sells recreational and commercial powerboats; and (2) Wizz Banger, Inc., a development-stage subsidiary with plans to develop an innovative online marketplace leveraging artificial intelligence (AI) to transform how customers search for and purchase recreational marine assets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">While the Company manages Wizz Banger, Inc. as a distinct operating segment, it does not currently meet the quantitative thresholds for separate disclosure under ASC 280-10-50-12. As a result, the financial results of Wizz Banger, Inc. are aggregated and presented within the consolidated results of Twin Vee PowerCats for segment reporting purposes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company will continue to monitor the significance of Wizz Banger, Inc. and will present it as a separately reportable segment in future filings if it meets the quantitative criteria or if management concludes that separate presentation is necessary for a better understanding of the business.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_807_eus-gaap--SubsequentEventsTextBlock_zRx0S7EiLCM9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">16. <span id="xdx_825_zgmWKBInQUF3">Subsequent Events</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Twin Vee Holdco Inc. (“PubCo”) was incorporated in the State of Texas on October 5, 2026 and is currently a wholly owned subsidiary of the Company. PubCo was formed to serve as the holding company in connection with the proposed business combination of Twin Vee and USFM. Through October 6, 2026, PubCo’s activities were limited to organization, preparation for the filing of a Form S-4 registration statement, and preparation for the proposed business combination. PubCo has not generated revenue.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October 7, 2026, PubCo, Twin Vee, USFM, Twin Vee Merger Sub Inc. and USFM Merger Sub Inc. entered into an Amended and Restated Agreement and Plan of Merger (the “A&amp;R Merger Agreement”). Upon the closing of that agreement, Twin Vee Merger Sub Inc. will merge with and into Twin Vee, and USFM Merger Sub Inc. will merge with and into USFM, with Twin Vee and USFM surviving as wholly owned subsidiaries of PubCo. Closing is subject to stockholder approvals, effectiveness of PubCo’s registration statement on Form S-4, the pre-closing contingent value rights restructuring, and other closing conditions. These condensed consolidated financial statements do not give effect to the proposed mergers. See the Current Report on Form 8-K we filed with the SEC on October 8, 2026 for more information regarding the proposed mergers.</p> During the three and nine months ended September 30, 2026, no director or officer of the Company <span id="xdx_901_eecd--Rule10b51ArrAdoptedFlag_dbT_c20260101__20260930_zUVZV14dVIod"><span id="xdx_908_eecd--NonRule10b51ArrAdoptedFlag_dbT_c20260101__20260930_zuY3hXpmBEy1">adopted</span></span> or <span id="xdx_903_eecd--Rule10b51ArrTrmntdFlag_dbT_c20260101__20260930_zo58tA5Mw5md"><span id="xdx_904_eecd--NonRule10b51ArrTrmntdFlag_dbT_c20260101__20260930_zCH7kqhQIxk1">terminated</span></span> a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K. true true true true