Financial Analysis

Note 8 Commitments and Contingencies Royalty Agreement with SRQ Patent Holdings and SRQ Patent Holdings II The Company is a party to two Amended and Restated Confirmatory Patent Assignment and Royalty Agreements, both dated November 11, 2020, with SRQ Patent Holdings and SRQ Patent Holdings II, under which the Company (or its successor) will be obligated to pay to SRQ Patent Holdings or SRQ Patent Holdings II (or its designees) certain royalties on product sales or other revenue received on products that incorporate or are covered by the intellectual property that was assigned to the Company. The royalty is equal to 8% of the net sales price on product sales and, without duplication, 8% of milestone revenue or sublicense compensation. SRQ Patent Holdings and SRQ Patent Holdings II are affiliates of Mr. Jonnie Williams, Sr. No revenue has been recognized subject to these agreements for the year ended December 31, 2025 and 2024. MIRA Pharmaceuticals Limited License Agreement The Company is a party to an Amended and Restated Limited License Agreement, dated June 27, 2022 and amended on April 20, 2023, with MIRA Pharmaceuticals, Inc. (Nasdaq: MIRA), under which the parties agreed to share technical information and know-how pertaining to the synthetic manufacture and formulation of the parties respective Supera-CBD and MIRA1a product candidates. The Company, which holds patent rights to MIRA1a in 22 foreign countries, was granted a perpetual, non-exclusive, royalty-free license to …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Note 5 Stock-based Payments Equity incentive Plans 2017 Stock Incentive Plan On August 7, 2017, the stockholders approved, and the Company adopted the 2017 Stock Incentive Plan (2017 Plan). The 2017 Plan provides for the issuance of up to 11,800 shares of the Companys Common Stock. As of December 31, 2025, grants of restricted stock and options to purchase 1,500 shares of Common Stock have been issued pursuant to the 2017 Plan, and 0 shares of Common Stock remain available for issuance. 2018 Stock Incentive Plan On December 7, 2018, the stockholders approved, and the Company adopted the 2018 Stock Incentive Plan (2018 Plan). On August 27, 2020, the 2019 Plan was modified to increase the total authorized shares. The 2018 Plan, as amended, provides for the issuance of up to 1,867,000 shares of the Companys Common Stock. As of December 31, 2025, grants of RSUs and restricted stock to purchase 8,900 shares of Common Stock have been issued pursuant to the 2018 Plan, and 9,900 shares of Common Stock remain available for issuance. 2021 Stock Incentive Plan On April 15, 2021, the stockholders approved, and the Company adopted the 2021 Stock Incentive Plan, as amended, (2021 Plan). The 2021 Plan provides for the issuance of up to 250,000,000 shares of the Companys Common Stock. As of December 31, 2025, grants of RSUs and stock options to purchase 33,583,400 shares of Common Stock have been issued pursuant to the 2021 Plan, and 106,416,600 shares of Common Stock remain available for is …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Note 7 Income Taxes The Companys income tax (benefit)/provision is as follows for the years ended December 31, 2025 and 2024: Schedule of Income Tax (Benefit)/Provision 2025 2024 Current $ - $ - Deferred (1,606,119 ) (5,446,000 ) Change in Valuation Allowance 1,606,119 5,446,000 Income Tax Benefit $ - $ - ASU 2023-09 requires disaggregation of pretax income (loss), income tax expense (benefit), and income taxes paid by jurisdiction. The Company has no foreign operations; accordingly, all pretax income (loss) is domestic (United States). The following table shows the components of loss before income taxes and the related income tax expense / (benefit): Schedule of Components of Loss Before Income Taxes 2025 2024 Loss before income taxes U.S. operations $ (11,627,122 ) $ (23,359,334 ) Current income tax expense / (benefit) U.S. federal - - U.S. state and local - - Total current income tax expense / (benefit) - - Deferred income tax expense / (benefit) U.S. federal - - U.S. state and local - - Total deferred income tax expense / (benefit) - - Total current income tax expense / (benefit) $ - $ - For the years ended December 31, 2025 and 2024 there were no income taxes paid. As no income taxes were paid, disaggregation by U.S. federal, state, or foreign jurisdictions was not applicable for the period presented. The reconciliation of income taxes using the statutory U.S. income tax rate and the benefit from income taxes for the years ended December 31, 2025 and 2024 are as follows: …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

(v) Recently Issued Accounting Pronouncements Effective January 1, 2025, the Company adopted ASU 2023-09, Improvements to Income Tax Disclosures, which expanded income tax disclosure requirements, including disaggregation of pretax income (loss) and income tax expense (benefit) by jurisdiction and disclosure of income taxes paid (net of refunds received). The Company adopted the standard on January 1, 2025 on a retrospective basis. Accordingly, the tax rate reconciliation and income taxes paid disclosures for the year ended December 31, 2024 has been recast to conform to the current years presentation. The adoption affected disclosures only and did not impact the Companys financial position, results of operations, or cash flows. In November 2024, the Financial Accounting Standards Board issued ASU 2024-03, Disaggregation of Income Statement Expenses, which requires enhanced disclosures of specified natural expense categories included within relevant income statement captions. The standard is intended to improve transparency by requiring disaggregation of expenses such as employee compensation, depreciation, and amortization in tabular format within the notes to the financial statements. The amendments in ASU 2024-03 are effective for fiscal years beginning after December 15, 2026, and interim periods thereafter. Early adoption is permitted. The Company expects that adoption will primarily impact the presentation and disclosure of expenses and is currently evaluating the effec …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Note 10 Employee Benefit Plan The Company maintains a defined contribution benefit plan under section 401(k) of the Internal Revenue Code covering substantially all qualified employees of the Company (the 401(k) Plan). Under the 401(k) Plan, the Company matches 100 % up to a 3 % contribution, and 50 % over a 3 % contribution, up to a maximum of 5 %. The Company made matching contributions to the 401(k) Plan during the years ended December 31, 2025 and 2024 of $ 8,469 and $ 22,142 , respectively. …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Note 9 Related Parties PharmaCyte Biotech, Inc. - Series G Preferred Stock Issuance On May 20, 2024, the Company entered into the Series G Purchase Agreement with the Series G Investors, including PharmaCyte Biotech, Inc. (Pharmacyte), pursuant to which it agreed to sell to the Series G Investors (i) an aggregate of 8,950 Series G Preferred Stock, initially convertible into up to 492,841,600 shares of the Companys Common Stock, at a conversion price of $ 0.01816 per share (ii) Series G Short-Term Warrants to acquire up to an aggregate of 492,841,600 shares of Common Stock at an exercise price of $ 1.816 per share, and (iii) Series G Long-Term Warrants acquire up to an aggregate of 492,841,600 shares of Common Stock at an exercise price of $ 0.01816 per share, for aggregate gross proceeds equaling approximately $ 8.9 million. The interim CEO, President and Director of PharmaCyte, Joshua Silverman, serves as the Companys Executive Chairman. PharmaCyte Biotech, Inc. - Series H Preferred Stock Issuance On September 2, 2025, the Company entered into the Series H Purchase Agreement with the Series H Investors, including PharmaCyte Biotech, Inc., pursuant to which it agreed to sell to the Series H Investors (i) an aggregate of 7,000 Series H Preferred Stock, initially convertible into up to 1,400,000 shares of the Companys Common Stock, at a conversion price of $ 5.00 per share and (ii) Series H Warrants to acquire up to an aggregate of 1,400,000 shares of Common Stock at an exercis …

RelatedPartyTransactionsDisclosureTextBlock · excerpt; the full note is in the filing

Note 12 Segment Reporting The Company has two reportable segments. The legacy segment focuses on the previous endeavors of TNF Pharmaceuticals, Inc. This business segment operates in the clinical-stage pharmaceutical space and is specifically focused on Isomyosamine (formerly MYMD-1). The second and primary segment is focused on the development and eventual application of quantum computing technology, both for cryptocurrency applications and beyond. The Companys chief operating decision maker (CODM), who is responsible for evaluating financial performance and allocating resources, is the Executive Chairman of the Board. The accounting policies of the duel segments are the same as those described in the summary of significant accounting policies. The CODM does not use assets to assess the segment. The CODM assesses performance for each segment and decides how to allocate resources based on net operating loss excluding stock-based compensation and warrant issuance expenses. The CODM uses a non-GAAP measure, net of operating loss excluding stock-based compensation and warrant issuance expenses, as the primary measure of operating performance and to monitor the Companys cash burn and adherence to budget. To date, the Company has not generated any product revenues and has incurred losses and negative cash flows from operations since inception. The following table presents certain financial data for the Companys two reportable segments and a reconciliation to the Companys consolida …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Note 2 Significant Accounting Policies (a) Basis of Presentation The Consolidated Financial Statements of the Company are prepared in U.S. Dollars and in accordance with accounting principles generally accepted in the United States of America (US GAAP). (b) Use of Estimates and Judgments The preparation of financial statements in conformity with US GAAP requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Information about significant areas of estimation, uncertainty and critical judgments in applying accounting policies that have the most significant effect on the amounts recognized in the financial statements is included in the following notes for recording research and development expenses, impairment of intangible assets and the valuation of share-based payments. (c) Functional and Presentation Currency These consolidated financial statements are presented in U.S. Dollars, which is the Companys functional currency. All financial information has been rounded to the nearest dollar. Foreign Currency Transaction Gains or Losses, resulting from cash balances denominated in Foreign Currencies, are recorded …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

Note 6 Equity Authorized Capital Stock On July 24, 2024, the Companys stockholders approved the adoption of the Certificate of Amendment to the Companys Certificate of Incorporation to increase the number of authorized shares of the Companys Common Stock from 1,666,666,600 to 25,000,000,000 (Authorized Share Increase Amendment) and to make a corresponding change to the number of authorized shares of capital stock. On July 25, 2024, the Company filed the Authorized Share Increase Amendment with the Secretary of State of Delaware (the Secretary of State). On June 17, 2024, the Company filed a Certificate of Amendment to the Series G Certificate of Designations with the Secretary of State to increase the number of authorized shares of Series G Preferred Stock from 8,950 to 12,826,273 . At the Companys annual meeting of stockholders, held on June 3, 2025, which was reconvened from May 20, 2025, the Companys stockholders approved an amendment to the Companys Certificate of Incorporation (the Share Increase Amendment) to increase the number of authorized shares of Common Stock from 250,000,000 shares to 1,250,000,000 and to make a corresponding change to the number of authorized shares of the Companys capital stock. Following the 2025 annual meeting, on June 6, 2025, the Company filed the Share Increase Amendment with the Secretary of State. As of December 31, 2025, the Companys authorized capital stock consisted of 1,300,000,000 shares, of which 1,250,000,000 are shares of Common …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

Note 13 Subsequent Events The Company has evaluated subsequent events through April 15, 2026, and identified the following: On January 16, 2026, the Company entered into a consulting agreement (the Voss Consulting Agreement) with Chelsea Voss, a current director of the Company, pursuant to which, Ms. Voss agreed to provide certain consulting services to the Company, including evaluating companies and making related introductions, analyzing technologies and operations, reviewing and advising on potential acquisitions and any other consulting or advisory services which the Company reasonably requests that Ms. Voss provide to the Company. The Voss Consulting Agreement has a term of twelve (12) months, unless earlier terminated pursuant to the terms of the Voss Consulting Agreement or upon the mutual written consent of the Company and Ms. Voss in accordance with the terms of the Voss Consulting Agreement. Pursuant to the Voss Consulting Agreement, Ms. Voss is entitled to a monthly fee equal to $ 12,500 per month (or, $ 150,000 annually) payable in arrears on a monthly basis. In addition, pursuant to the Voss Consulting Agreement, Ms. Voss was granted (i) 212,500 restricted stock units, subject to the terms and conditions of the Companys standard restricted stock unit award agreement and the 2021 Plan which vest in four substantially equal instalments on the quarterly anniversaries of the issuance date, provided that Ms. Voss continues to provide services to the Company through su …

SubsequentEventsTextBlock · excerpt; the full note is in the filing