Note 2 – Liquidity

The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities and commitments in the normal course of business.

At each reporting period, the Company evaluates whether conditions or events raise substantial doubt about its ability to continue as a going concern for one year after the date that the financial statements are available to be issued. In performing this evaluation, management considers the Company’s current financial condition, results of operations, cash flows, contractual obligations, and its ability to obtain additional financing if needed.

For the nine months ended September 30, 2026, the Company incurred a net loss of $28,048,400 and cash used in operating activities was $21,365,275. As of  September 30, 2026, the Company had working capital of $33,663,507. Current liabilities include the current portion of the Company’s convertible notes (related party), which are recorded at fair value in accordance with ASC 825, Financial Instruments ("ASC 825"). As of  September 30, 2026, the convertible notes (related party) had a carrying amount of $29,107,200, compared with outstanding contractual principal and accrued interest totaling $7,074,675. The Company has sufficient cash and cash equivalents to repay the contractual principal and accrued interest on the convertible notes (related party) at their scheduled maturity dates if the holder does not elect to convert the notes. The Company also has sufficient authorized and unissued shares of common stock available to satisfy conversion of the notes if elected by the holder. See Note 7 for further details.

Management has evaluated the principal conditions affecting the Company’s liquidity, including recurring operating losses, cash used for operating activities, and contractual obligations due within the next 12 months. Based on this evaluation management has concluded that the Company has sufficient liquidity to fund its operations and meet its obligations as they become due for at least the 12-month period following the date the unaudited condensed consolidated financial statements are available to be issued.