Financial Analysis

North December 31, America Africa EMESA* Asia 2025 License fees $ 1,726,401 $ 526,465 $ 1,170,434 $ - $ 3,423,300 Hardware 115,052 653 997,273 229,170 1,342,148 Services 829,756 254,648 84,609 3,094 1,172,107 Total revenues $ 2,671,209 $ 781,766 $ 2,252,316 $ 232,264 $ 5,937,555 North December 31, America Africa EMESA* Asia 2024 License fees $ 2,410,624 $ 1,490,256 $ 1,282,176 $ 6,314 $ 5,189,370 Hardware 154,931 - 391,764 85,000 631,695 Services 898,686 162,467 47,353 - 1,108,506 Total revenues $ 3,464,241 $ 1,652,723 $ 1,721,293 $ 91,314 $ 6,929,571

DisaggregationOfRevenueTableTextBlock

NOTE N STOCK OPTIONS 2023 Stock Incentive Plan On December 14, 2023, the stockholders approved the 2023 Stock Incentive Plan. The 2023 Plan initially reserved 33,333 shares of common stock for issuance of options, restricted stock, and other equity based awards to employees, officers, directors, consultants advisors and independent contractors of the Company. Options are issued at exercise prices which may not be below 100% of fair market value (or 110% of the fair market value if, at the time the option is granted, the participant owns, directly or indirectly, more than 10% of the total combined voting power of all classes of our stock) and have terms not to exceed ten years. Options issued under the 2023 Plan vest pursuant to the terms of stock option agreements with the recipients. In the event of a change in control, certain awards issued under this plan may be subject to additional acceleration of vesting as may be provided in the participants written agreement or as determined by the Board or Compensation Committee. The 2023 Plan expires on December 13, 2033, unless terminated earlier. On August 8, 2025, at the Annual Meeting, a proposal was approved to amend the plan to reserve an additional 70,000 shares of common stock. In 2025, the Company issued 28,300 restricted shares to employees of which 3,026 were forfeited. The Company also issued 2,316 shares to the Board of Directors for payments of Board fees. 2015 Stock Option Plan On January 27, 2016, the stockholders ap …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

NOTE C FAIR VALUES OF FINANCIAL INSTRUMENTS Cash and cash equivalents, accounts receivable, due from factor, accounts payable and accrued liabilities are carried at, or approximate, fair value because of their short-term nature. The carrying value of the Companys notes and loan payables approximated fair value as the interest rates related to the financial instruments approximated market. …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

NOTE G INTANGIBLE ASSETS Intangible assets consisted of the following as of December 31: 2025 2024 Trade name $ 130,000 $ 130,000 Proprietary software 420,000 420,000 Customer relationships 1,692,583 1,692,583 Patents and patents pending 287,248 365,080 2,529,831 2,607,663 Less accumulated amortization (1,699,751 ) (1,510,310 ) Total $ 830,080 $ 1,097,353 Aggregate amortization expense for 2025 and 2024 was approximately $267,273 and $304,983, respectively. Estimated minimum amortization expense based on straight line amortization of the software license rights for each of the next five years and thereafter approximates the following: Years ending December 31 2026 $ 224,000 2027 223,000 2028 141,000 2029 117,000 2030 14,000 Thereafter 111,080 Total $ 830,080 …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

"NOTE O INCOME TAXES For financial reporting purposes, the net pre-tax book loss for the United States and foreign entities, in the aggregate, was: Year ended Year ended December 31, December 31, 2025 2024 United States $ (6,179,476 ) $ (2,767,752 ) Hong Kong (74,045 ) (222,901 ) Nigeria (164,518 ) (223,426 ) Spain (723,407 ) (1,109,611 ) Portugal - - Total $ (7,141,446 ) $ (4,323,690 ) There was no provision for current federal, foreign or state taxes for both of the years ended December 31, 2025 and 2024 as a result of taxable losses incurred in these jurisdictions. The provision for income taxes (tax benefits) benefits consists of the following: Year ended Year ended December 31, December 31, 2025 2024 Current Federal and States $ - $ - Foreign: Subtotal - $ - Deferred: Federal and States Foreign 16,500 (22,998 ) Subtotal 16,500 (22,998 ) Provision for income tax expense (benefit) $ 16,500 $ (22,998 ) There were no payments made in relation to income taxes for the year ending December 31, 2025. Significant components of deferred tax assets and liabilities are as follows at December 31, 2025 and 2024 : December 31, December 31, 2025 2024 Accrued compensation $ 140,490 $ 154,457 Allowance for credit losses 20,626 20,513 Research and development expenses 724,038 1,261,601 Capital loss carry forward 114,885 114,251 Right-of-use operating lease assets (5,979 ) (16,346 ) Operating lease liabilities - 16,406 Stock-based compensation 54,258 34,299 Equipment and leasehold improveme …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

NOTE K LEASES The Companys leases office space in New Jersey, Minnesota, New Hampshire, Madrid and Hong Kong with lease termination dates in 2026 and 2027. The property leased in China is paid monthly as used, without a formal agreement. The following tables present the components of lease expense and supplemental balance sheet information related to the operating leases were: Year ended Year ended December 31, December 31, 2025 2024 Lease cost Operating lease cost $ 28,195 $ 45,787 Total lease cost $ 28,195 $ 45,787 Balance sheet information Operating lease right-of-use assets $ 47,953 $ 73,372 Operating lease liabilities, current portion $ 27,728 $ 24,642 Operating lease liabilities, non-current portion 21,266 48,994 Total operating lease liabilities $ 48,994 $ 73,636 Weighted average remaining lease term (in years) operating leases 1.67 2.67 Weighted average discount rate operating leases 5.50 % 5.50 % Supplemental cash flow information related to leases were as follows: Cash paid for amounts included in the measurement of operating lease liabilities $ 47,640 $ 63,914 Maturities of operating lease liabilities were as follows as of December 31, 2023: 2026 $ 29,267 2027 22,477 2028 - Total future lease payments $ 51,744 Less: imputed interest (3,791 ) Total $ 47,953 …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

NOTE J NOTES PAYABLE Securities Purchase Agreement dated September 30, 2025 On September 30, 2025, the Company entered into and closed a note purchase agreement with the Lender which provided for the issuance of a $1,130,000 principal amount senior secured promissory note (the 2025 Note). The 2025 Note carries an original issue discount of $125,000 and the Company agreed to pay $5,000 to the Lender to cover its transaction costs, which were deducted from the proceeds of the 2025 Note resulting in a total of $1,000,000 being funded to the Company at closing. The proceeds are being used for general working capital. The principal amount of the 2025 Note is due 18 months following the date of issuance. Interest under the 2025 Note accrues at a rate of nine percent (9%) per annum. All repayments of principal due under the 2025 Note will be subject to an exit fee of seven percent (7%) of the principal amount being repaid (the Exit Fee). Commencing six months after the date of issuance of the 2025 Note (the Redemption Start Date), Lender shall have the right to redeem up to $135,000 of principal amount under the 2025 Note each month which amount plus the Exit Fee will be due and payable three ( 3 ) business days after Lenders delivery of a redemption notice to the Company. At the end of each month following the Redemption Start Date, if the Company has not reduced the outstanding balance under the 2025 Note by at least $135,000, then by the fifth ( 5th ) day of the following month, …

LongTermDebtTextBlock · excerpt; the full note is in the filing

"16. Recently Adopted Accounting Pronouncements Effective January 1, 2025. The Company adopted ASU 2023 - 09, Improvements to Income Tax Disclosures (ASU 2023 - 09 ) to enhance the transparency and decision-usefulness of income tax disclosures, particularly in the rate reconciliation table and disclosures about income taxes paid. The adoption of this standard did not have to a material impact on the Companys consolidated financial statements but expanded the disclosures required. 17. Recently Issued Accounting Pronouncements In October 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023 - 06, Disclosure Improvements: Codification Amendments in Response to the SEC s Disclosure Update and Simplification Initiative (ASU 2023 - 06 ). This ASU incorporates certain SEC disclosure requirements into the FASB Accounting Standards Codification (ASC). The amendments in the ASU are expected to clarify or improve disclosure and presentation requirements of a variety of ASC Topics, allow users to more easily compare entities subject to the SECs existing disclosures with those entities that were not previously subject to the requirements, and align the requirements in the ASC with the SECs regulations. The ASU has an unusual effective date and transition requirements since it is contingent on future SEC rule setting. If the SEC fails to enact required changes by June 30, 2027, this ASU is not effective for any entities. Early adoption is not permitted. The Company is curre …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

NOTE P SAVINGS PLAN The Company has established a savings plan under section 401 (k) of the Internal Revenue Code. All employees of the Company, after completing one day of service, are eligible to enroll in the 401 (k) plan. Participating employees may elect to defer a portion of their salary on a pre-tax basis up to the limits as provided by the IRS Code. The Company is not required to match employee contributions but may do so at its discretion. The Company made no matching contributions during the years ended December 31, 2025 and 2024 . The plan passed its 2024 annual non-discrimination test and expects to pass the 2025 annual non-discrimination test. …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

NOTE B REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregation of Revenue The following table summarizes revenue from contracts with customers for the years ended December 31, 2025 and 2024 : North December 31, America Africa EMESA* Asia 2025 License fees $ 1,726,401 $ 526,465 $ 1,170,434 $ - $ 3,423,300 Hardware 115,052 653 997,273 229,170 1,342,148 Services 829,756 254,648 84,609 3,094 1,172,107 Total revenues $ 2,671,209 $ 781,766 $ 2,252,316 $ 232,264 $ 5,937,555 North December 31, America Africa EMESA* Asia 2024 License fees $ 2,410,624 $ 1,490,256 $ 1,282,176 $ 6,314 $ 5,189,370 Hardware 154,931 - 391,764 85,000 631,695 Services 898,686 162,467 47,353 - 1,108,506 Total revenues $ 3,464,241 $ 1,652,723 $ 1,721,293 $ 91,314 $ 6,929,571 * EMESA Europe, Middle East, South America Revenue recognized during the year ended December 31, 2025 from amounts included in deferred revenue at the beginning of the year was approximately $455,000. Revenue recognized during the year ended December 31, 2024 from amounts included in deferred revenue at the beginning of the year was approximately $508,000. Total deferred revenue (contract liability) was approximately $635,000 and $970,000 at December 31, 2025 and 2024 , respectively. The contract liability is derived by an 18% carve-out on subscription orders which is based on industry standards and our current maintenance and support charge for perpetual licenses. Transaction Price Allocated to the Remaining Performance Obligations ASC 606 re …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

NOTE R SEGMENTS The Company operates as one operating segment. The Companys Chief Operating Decision Maker (CODM) is its Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM used consolidated revenues, gross profit and loss before provision for income taxes to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions, such as the need to allocate its budget to operating expenses and invest in additional equipment. The segment assets are equal to the assets presented in the consolidated balance sheets. The significant expenses that are regularly provided to the CODM are disclosed in the consolidated statements of operations as a part of the condensed consolidated net loss. See the consolidated financial statements for all financial information regarding the Companys operating segment. See Note B for the Companys revenues by geographic region. The Companys long-lived tangible assets are recognized on the Consolidated Balance Sheet are located in New Hampshire and Hong Kong. The Companys operating lease right-of use assets recognized on the Consolidated Balance Sheet are located in Minnesota …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"NOTE M EQUITY 1. Preferred Stock Within the limits and restrictions provided in the Companys Certificate of Incorporation, the Board of Directors has the authority, without further action by the shareholders, to issue up to 5,000,000 shares of preferred stock, $.0001 par value per share, in one or more series, and to fix, as to any such series, any dividend rate, redemption price, preference on liquidation or dissolution, sinking fund terms, conversion rights, voting rights, and any other preference or special rights and qualifications. 2. Common Stock Holders of common stock have equal rights to receive dividends when, as and if declared by the Board of Directors, out of funds legally available therefor. Holders of common stock have one vote for each share held of record and do not have cumulative voting rights. Holders of common stock are entitled, upon liquidation of the Company, to share ratably in the net assets available for distribution, subject to the rights, if any, of holders of any preferred stock then outstanding. Shares of common stock are not redeemable and have no preemptive or similar rights. All outstanding shares of common stock are fully paid and nonassessable. Employee Stock Purchase Plan On June 18, 2021, the stockholders approved the 2021 Employee Stock Purchase Plan (""ESPP""). Under the terms of this plan, 4,384 shares of common stock were reserved for issuance to employees and officers of the Company at 85% of the lower of the closing price of the co …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

NOTE S SUBSEQUENT EVE NTS On February 17, 2026, 250 shares of restricted common stock were forfeited by an employee who left the Company before the lapse of the restriction period applicable to such shares (as adjusted to reflect our 1 -for-10 reverse stock split, which was effective April 30, 2026). On March 19, 2026, the Company issued 250 shares of restricted stock to a new employee which vest over three -years (as adjusted to reflect our 1 -for-10 reverse stock split, which was effective April 30, 2026). The forgoing issuances of common stock after December 31, 2025 total 250 shares representing a 0% increase in the Company's outstanding shares of common stock since December 31, 2025, including forfeitures (as adjusted to reflect our 1 -for-10 reverse stock split, which was effective April 30, 2026. On April 20, 2026, the Company held a Special Meeting of stockholders at which our stockholders approved a reverse split of our outstanding shares of common stock. After the Special Meeting, the Board set the reverse stock split ratio at 1-for-10, and on April 28, 2026, the Company filed a Certificate of Amendment with the Secretary of State of the State of Delaware to effect the reverse stock split which became effective at 5:00 p.m., Eastern Time, on April 29, 2026. The Common Stock began trading on the Nasdaq Capital Market on a split-adjusted basis on April 30, 2026 under a new CUSIP number, 09060C606 (as adjusted to reflect our 1 -for-10 reverse stock split, which was eff …

SubsequentEventsTextBlock · excerpt; the full note is in the filing

North March 31, America Africa EMESA* Asia 2026 Services $ 190,543 $ 57,174 $ 667 $ - $ 248,384 License fees 239,675 866,930 259,288 - 1,365,893 Hardware 15,125 - 493,871 22,260 531,256 Total Revenues $ 445,343 $ 924,104 $ 753,826 $ 22,260 $ 2,145,533 North March 31, America Africa EMESA* Asia 2025 Services $ 205,843 $ 64,152 $ 142 $ 2,461 $ 272,598 License fees 354,584 525,093 219,081 - 1,098,758 Hardware 17,852 - 188,911 29,040 235,803 Total Revenues $ 578,279 $ 589,245 $ 408,134 $ 31,501 $ 1,607,159

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5. SHARE-BASED COMPENSATION The following table presents share-based compensation expenses included in the Companys unaudited condensed interim consolidated statements of operations: Three Months Ended March 31, 2026 2025 Selling, general and administrative $ 33,014 $ 44,831 Research, development and engineering 7,730 7,657 $ 40,744 $ 52,488 …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

13. FAIR VALUES OF FINANCIAL INSTRUMENTS Cash and cash equivalents, accounts receivable, due from factor, accounts payable and accrued liabilities are carried at, or approximate, fair value because of their short-term nature. The carrying value of the Companys government loan payable approximates fair value as the interest rate related to the financial instruments approximated market. …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

15. INCOME TAXES United States, Hong Kong and Nigeria The Company recorded no income tax expense for the three months ended March 31, 2026 and 2025 because the estimated annual effective tax rate was zero. In determining the estimated annual effective income tax rate, the Company analyzes various factors, including projections of the Companys annual earnings and taxing jurisdictions in which the earnings will be generated, the impact of state and local income taxes, the ability to use tax credits and net operating loss carry forwards, and available tax planning alternatives. As of March 31, 2026 and December 31, 2025 , the Company provided a full valuation allowance against its net deferred tax assets since the Company believes it is more likely than not that its deferred tax assets will not be realized. Spain Due to the current loss for the three months ended March 31, 2026 , the Company did not record income taxes. …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

9. LEASES The Companys leases office space in New Jersey, Minnesota, New Hampshire, Madrid and Hong-Kong with lease termination dates in 2026 and 2027. The property leased in China is paid monthly as used, without a formal agreement. The following tables present the components of lease expense and supplemental balance sheet information related to the operating leases were: 3 Months ended 3 Months ended March 31, March 31, 2026 2025 Lease cost Total lease cost $ 7,258 $ 6,979 March 31, December 31, Balance sheet information 2026 2025 Operating right-of-use assets $ 41,383 $ 47,953 Operating lease liabilities, current portion $ 29,501 $ 27,728 Operating lease liabilities, non-current portion 12,908 21,266 Total operating lease liabilities $ 42,409 $ 48,994 Weighted average remaining lease term (in years) operating leases 1.42 1.67 Weighted average discount rate operating leases 5.50 % 5.50 % Cash paid for amounts included in the measurement of operating lease liabilities for the three months ended March 31, 2026 and 2025: $ 12,243 $ 11,964 Maturities of operating lease liabilities were as follows as of March 31, 2026 : 2026 (9 months remaining) $ 29,501 2027 14,985 Total future lease payments $ 44,486 Less: imputed interest (2,077 ) Total $ 42,409 …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"10. N OTES PAYABLE Note Purchase Agreement dated June 24, 2024 On June 24, 2024, the Company entered into and closed a note purchase agreement with Streeterville Capital, LLC (the ""Lender"") which provided for the issuance of a $2,360,000 principal amount senior secured promissory note (the 2024 Note). The 2024 Note carried an original issue discount of $350,000 and the Company agreed to pay $10,000 to the lender (the ""Lender"") to cover its transaction costs, which were deducted from the proceeds of the 2024 Note resulting in a total of $2,000,000 being funded to the Company at closing. The proceeds were used for general working capital. The principal amount of the 2024 Note was due 18 months following the date of issuance. Interest under the 2024 Note accrued at a rate of nine percent (9%) per annum. All repayments of principal due under the 2024 Note were subject to an exit fee of seven percent (7%) of the principal amount being repaid (the Exit Fee). Commencing six months after the date of issuance of the 2024 Note (the Redemption Start Date), Lender had the right to redeem up to $270,000 of principal amount under the 2024 Note each month which amount plus the Exit Fee will be due and payable three ( 3 ) business days after Lenders delivery of a redemption notice to the Company. The 2024 Note was secured by a lien on substantially all of the Companys assets and properties and the Companys obligations under the 2024 Note were guaranteed by Pistol Star, Inc. (Pistol), a …

LongTermDebtTextBlock · excerpt; the full note is in the filing

"Recently Adopted Accounting Pronouncements Reverse Stock Split All references to issued and outstanding shares for all periods reflect the 1 -for-10 reverse stock split, which was effective April 30, 2026. As a result, all share amounts for all periods, including the number of shares underlying warrants, options, and other convertible securities, and all exercise prices applicable to such warrants, options and convertible securities have been adjusted retrospectively to reflect the 1 -for-10 reverse stock split. Recently Issued Accounting Pronouncements In October 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023 - 06, Disclosure Improvements: Codification Amendments in Response to the SEC s Disclosure Update and Simplification Initiative (ASU 2023 - 06 ). This ASU incorporates certain SEC disclosure requirements into the FASB Accounting Standards Codification (ASC). The amendments in the ASU are expected to clarify or improve disclosure and presentation requirements of a variety of ASC Topics, allow users to more easily compare entities subject to the SECs existing disclosures with those entities that were not previously subject to the requirements, and align the requirements in the ASC with the SECs regulations. The ASU has an unusual effective date and transition requirements since it is contingent on future SEC rule setting. If the SEC fails to enact required changes by June 30, 2027, this ASU is not effective for any entities. Early adoption is not p …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

3. REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregation of Revenue The following table summarizes revenue from contracts with customers for the three -month periods ended March 31, 2026 and March 31, 2025 : North March 31, America Africa EMESA* Asia 2026 Services $ 190,543 $ 57,174 $ 667 $ - $ 248,384 License fees 239,675 866,930 259,288 - 1,365,893 Hardware 15,125 - 493,871 22,260 531,256 Total Revenues $ 445,343 $ 924,104 $ 753,826 $ 22,260 $ 2,145,533 North March 31, America Africa EMESA* Asia 2025 Services $ 205,843 $ 64,152 $ 142 $ 2,461 $ 272,598 License fees 354,584 525,093 219,081 - 1,098,758 Hardware 17,852 - 188,911 29,040 235,803 Total Revenues $ 578,279 $ 589,245 $ 408,134 $ 31,501 $ 1,607,159 *EMESA Europe, Middle East, South America Deferred Revenue Deferred revenue includes customer advances and amounts that have been paid by customer for which the contractual maintenance terms have not yet occurred. The majority of these amounts are related to maintenance contracts for which the revenue is recognized ratably over the applicable term, which generally is 12-60 months. Contracts greater than 12 months are segregated as long term deferred revenue. Maintenance contracts include provisions for unspecified when-and-if available product updates and customer telephone support services. At March 31, 2026 and December 31, 2025 , amounts in deferred revenue were approximately $900,500 and $635,100, respectively. Revenue recognized during the three months ended March 31, 2 …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

16 SEGMENT INFORMATION The Company operates as one operating segment. The Companys Chief Operating Decision Maker (CODM) is its Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM used consolidated revenues, gross profit and loss before provision for income taxes to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions, such as the need to allocate its budget to operating expenses and invest in additional equipment. The segment assets are equal to the assets presented in the condensed consolidated balance sheets. The significant expenses that are regularly provided to the CODM are disclosed in the consolidated statements of operations as a part of the condensed consolidated net loss. See the condensed consolidated financial statements for all financial information regarding the Companys operating segment. See Note 4 for the Companys revenues by geographic region. The Companys long-lived tangible assets are recognized on the Condensed Consolidated Balance Sheet are located in New Hampshire and Hong Kong. The Companys operating lease right-of use assets recognized on the Condensed Consolidated Balance Sheet are located in Minnesota. …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"12. STOCKHOLDERS EQUITY Issuances of Common Stock During the three -month periods ended March 31, 2026 , and 2025 , there have not been any shares of common stock issued to anyone outside the Company, except as noted in this Note 12. On June 18, 2021, the stockholders approved the Employee Stock Purchase Plan. Under the terms of this plan (as adjusted to reflect our 1 -for-10 reverse stock split, which was effective April 30, 2026), 4,384 shares of common stock are reserved for issuance to employees and officers of the Company at a purchase price equal to 85% of the lower of the closing price of the common stock on the first day or the last day of the offering period as reported on the Nasdaq Capital Market. Eligible employees are granted an option to purchase shares under the plan funded by payroll deductions. The Company may suspend or terminate the plan at any time, otherwise the plan expires June 17, 2031. On August 8, 2025, at the Companys Annual Stockholders Meeting (Annual Meeting), a proposal was approved to amend the plan to reserve an additional 70,000 shares of common stock. There were no shares issued during the three -month periods ended March 31, 2026 and 2025. Issuances of Restricted Stock Restricted stock consists of shares of common stock (as adjusted to reflect our 1 -for-10 reverse stock split, which was effective April 30, 2026) that are subject to restrictions on transfer and risk of forfeiture until the fulfillment of specified conditions. The fair valu …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

17 SUBSEQUENT EVENTS On April 20, 2026, the Company held a Special Meeting of stockholders at which out stockholders approved a reverse split of our outstanding shares of common stock. After the Special Meeting, the Board set the reverse stock split ratio at 1 -for-10, and on April 28, 2026, the Company filed a Certificate of Amendment with the Secretary of State of the State of Delaware to effect the reverse stock split which became effective at 5:00 p.m., Eastern Time, on April 29, 2026. The Common Stock began trading on the Nasdaq Capital Market on a split-adjusted basis on April 30, 2026 under a new CUSIP number, 09060C606 (as adjusted to reflect our 1 -for-10 reverse stock split, which was effective April 30, 2026). On May 6, 2026, the Company received notice from the Nasdaq Capital Market that the Companys common stock would be suspended from trading on the Nasdaq Capital Market at the opening of business on May 13, 2026 due to the Companys failure to regain compliance with the $1.00 minimum bid requirement and failure to timely file its periodic reports with the SEC. The Company scheduled an appeal of such determination to Nasdaqs Hearings Panel and the hearing was June 16, 2026 and the Company is awaiting the decision on the appeal. Effective with the opening of trading on May 13, 2026, the Companys common stock has been traded on OTC Markets. On June 5, 2026, the Company received notice from the Nasdaq Stock Market stating that the Company had not yet filed its Quart …

SubsequentEventsTextBlock · excerpt; the full note is in the filing