16 - SUBSEQUENT EVENTS

The Company evaluated subsequent events from September 30, 2026, the date of these financial statements, through the date on which the financial statements were issued (the “Issuance Date”), for events requiring recording or disclosure in the financial statements as of and for the nine months ended September 30, 2026. The Company concluded that no events have occurred that would require recognition or disclosure in the financial statements, except as described below:

On October 26, 2026, the Company entered into a settlement agreement with a vendor relating to outstanding fees incurred in prior periods. As of the execution date of the settlement agreement, the outstanding balance claimed by the vendor was approximately $1.3 million, excluding interest, attorneys’ fees and costs. Pursuant to the settlement agreement, the Company agreed to pay an aggregate settlement amount of $600,000 in installments beginning on November 30, 2026 and ending on October 31, 2027. Upon payment in full of the settlement amount and satisfaction of the terms of the agreement, the vendor will have no further claims against the Company related to the underlying matter. If the Company fails to make any required payment under the agreement and does not cure such failure within the applicable cure period, the Company may become liable for the unpaid portion of the original past due balance, reduced by any amounts previously paid pursuant to the settlement agreement. While the Company remains current on its payment obligations under the agreement, the vendor has agreed not to pursue collection actions relating to the underlying obligation.