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1. NATURE OF OPERATIONS 60 Degrees Pharmaceuticals, Inc. was incorporated in Delaware on June 1, 2022 and merged on the same day with 60 Degrees Pharmaceuticals, LLC, a District of Columbia limited liability company organized on September 9, 2010 (“60P LLC”). 60 Degrees Pharmaceuticals, Inc. and its subsidiary (referred to collectively as the “Company”, “60P”, or “60 Degrees Pharmaceuticals”) is a specialty pharmaceutical company that specializes in the development and marketing of new medicines for the treatment and prevention of infectious diseases. 60P achieved FDA approval of its lead product, ARAKODA® (tafenoquine), for malaria prevention, in 2018. Currently, 60P’s pipeline under development covers development programs for tick-borne fungal and other viral diseases utilizing three of the Company’s future products: (i) new products that contain the Arakoda regimen of tafenoquine; (ii) new products that contain tafenoquine; and (iii) celgosivir and/or botanical extracts from Australian Chestnut Trees. The Company’s headquarters are located in Washington, D.C., with a majority-owned subsidiary in Australia. Risks and Uncertainties The Company is subject to risks common to companies in the biopharmaceutical industry including, but not limited to, the risks associated with developing product candidates and successfully launching and commercializing its drug/device combination products, the Company’s ability to obtain regulatory approval of such products in the United States and other geography markets, the uncertainty of the broad adoption of its approved products by physicians and consumers, and significant competition. In addition, higher rates of inflation have resulted in the U.S. Federal Reserve raising interest rates. Increases in interest rates, especially if coupled with reduced government spending and volatility in financial markets, may further increase economic uncertainty and heighten these risks. Furthermore, if additional banks and financial institutions enter receivership or become insolvent in the future in response to financial conditions affecting the banking system and financial markets, the Company or its partners’ ability to access existing cash, cash equivalents and investments may be threatened and could have a material adverse effect on the Company’s business and financial condition, including the Company’s ability to access additional capital on favorable terms, or at all, which could in the future negatively affect the Company’s ability to pursue its business strategy. Going Concern The Company’s future results are subject to substantial risks and uncertainties. Since its inception, the Company has not demonstrated the ability to generate enough revenues to date to cover operating expenses and has accumulated losses to date. At June 30, 2025, the Company had cash and cash equivalents totaling $1,966,930, as compared to cash and cash equivalents totaling $1,659,353 at December 31, 2024. During the six months ended June 30, 2025, the Company used cash of $3,047,494 in its operating activities. The Company’s capital commitments over the next twelve months include interest payments on the Company’s debt arrangement of $8,772 and $905,813 to satisfy accounts payable and accrued expenses. To date, the Company has funded its operations primarily with proceeds from sales of common stock and warrants for the purchase of common stock, sales of preferred stock, proceeds from the issuance of convertible debt and borrowings under loan and security agreements. Continuation as a going concern is dependent upon the Company’s ability to meet its financial requirements, raise additional capital, and achieve gross profitability from the Company’s single marketed product. To achieve profitability, the Company expects it will need to raise additional capital to fund its activities relating to commercial support for its existing product and any future clinical research trials and operating activities. However, there can be no assurance that it will ever achieve or maintain profitability. These conditions, among others, raise substantial doubt about the ability of the Company to continue as a going concern for one year from the date these consolidated condensed financial statements are issued. <div style="-aw-sdt-tag:'PG_c12ebe76f85b70d02c5e'"></div>Management plans to fund operations of the Company through third party and related party debt/advances, private placement of restricted securities and the issuance of stock in a subsequent offering until such a time as the business achieves profitability or a business combination may be achieved. However, there can be no assurance that the Company will be successful in raising additional capital or that such capital, if available, will be on terms that are favorable to the Company. Debt financing and equity financing, if available, may involve agreements that include covenants limiting or restricting the Company’s ability to take specific actions, such as incurring additional debt, making capital expenditures, or declaring dividends. If the Company raises funds through collaborations, or other similar arrangements with third parties, it may have to relinquish valuable rights to its technologies, future revenue streams, research programs or product candidates or grant licenses on terms that may not be favorable to the Company and/or may reduce the value of its common stock. If the Company is unable to raise additional funds through equity or debt financings when needed, it may be required to delay, limit, reduce or terminate its product development or future commercialization efforts or grant rights to develop and market its product candidates even if the Company would otherwise prefer to develop and market such product candidates itself. As such, management concluded that such plans do not alleviate the substantial doubt about the ability of the Company to continue as a going concern for one year from the date these consolidated condensed financial statements are issued. The consolidated condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of obligations in the normal course of business, and do not include any adjustments to the amount and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern.

1966930

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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statements of 60P are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company has prepared the accompanying consolidated condensed financial statements pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities and Exchange Commission (“SEC”). These financial statements are unaudited and, in the opinion of management, all adjustments considered necessary for a fair presentation of the Company’s financial position, results of operations, and cash flows have been included and are of a normal and recurring nature. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2025 due to various factors. These consolidated condensed financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto as of and for the years ended December 31, 2024 and 2023, included in the Company’s annual report on Form 10-K, as filed with the SEC on March 27, 2025 (the “Annual Report”). Certain information, footnote disclosures, and significant accounting policies that would substantially duplicate the disclosures contained in the Annual Report have been omitted. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and those estimates may be material. Significant estimates include the reserve for inventory, the fair value of derivative liabilities, and stock-based compensation. <div style="-aw-sdt-tag:'PG_c5050bfc508bd0645091'"></div>Reverse Stock Splits Following stockholder approval in July 2024, the Company effected a reverse stock split at a ratio of 1:12, which was effective as of August 12, 2024 (the “1:12 Reverse Stock Split”). On November 6, 2024, a majority of the Company’s stockholders approved an additional reverse stock split at a split ratio ranging between 1:3 and 1:5, as determined by the Board of Directors in its sole discretion. On February 10, 2025, the Board of Directors approved a 1:5 reverse split ratio. On February 24, 2025, the Company effected the 1:5 reverse stock split (the “1:5 Reverse Stock Split”, and together with the 1:12 Reverse Stock Split, the “Reverse Stock Splits”). Beginning February 24, 2025, the common stock traded on The Nasdaq Capital Market on a split adjusted basis. Proportional adjustments were made to the number of shares of common stock issuable upon exercise or conversion of the Company’s equity awards, warrants, and other equity instruments convertible into common stock, as well as the respective exercise prices, if applicable, in accordance with the terms of the instruments. Unless otherwise noted, all references to numbers of shares of the Company’s common stock and per share information presented in these consolidated condensed financial statements have been retroactively adjusted, as appropriate, to reflect the Reverse Stock Splits, including reclassifying an amount equal to the reduction in par value of common stock to additional paid-in capital. Concentrations Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, short-term investments, accounts receivable, inventory purchases, and borrowings. Significant customers represent any customer whose business makes up 10% of receivables or revenues. At June 30, 2025, significant customers represented 94% of receivables (consisting of six total customers and three significant customers at 37%, 30% and 27%, respectively), and 95% of receivables at December 31, 2024 (consisting of three customers and one significant customer). For the three months ended June 30, 2025, significant customers comprised 99% of total net product revenues (consisting of three total customers and two significant customers at 78% and 21%, respectively). For the three months ended June 30, 2024, 92% of total net product revenues (consisting of three total customers and one significant customer) were generated from significant customers. For the six months ended June 30, 2025, 95% of total net product revenues (consisting of three customers and two significant customers at 61% and 34%, respectively) were generated from significant customers. For the six months ended June 30, 2024, 96% of total net product revenues (consisting of two customers and one significant customer) were generated from significant customers. Currently, the Company has exclusive relationships with distributors in Australia and Europe. A failure to perform by any of our current distributors would create disruption for patients in those markets. Since the Company first started working on tafenoquine, all inventory has been acquired in a collaborative relationship from a sole vendor. Should the vendor cease to supply tafenoquine, it would take significant costs and efforts to rebuild the supply chain with a new sole vendor sourcing the active pharmaceutical ingredient (“API”). Segment Information Since its inception, the Company operates and manages its business as a single identifiable segment, focused on the development and marketing of new medicines for the treatment and prevention of infectious diseases. The determination of a single business segment is consistent with the consolidated financial information regularly provided to the Company’s chief operating decision maker (“CODM”). The Company’s CODM is its Chief Executive Officer, who reviews and evaluates consolidated net income or loss for purposes of evaluating performance, making operating decisions, allocating resources, and planning and forecasting for future periods. The significant components of consolidated net income or loss regularly provided to the CODM include net product revenues and the significant expense categories presented in the accompanying consolidated condensed statements of operations and comprehensive loss (cost of revenues, research and development, and general and administrative expenses). These are presented at the consolidated level and used by the CODM to monitor budgeted versus actual results to make key operating decisions. The information and operating expense categories presented in the accompanying consolidated condensed statements of operations and comprehensive loss are fully reflective of the significant expense categories and amounts that are regularly provided to the CODM.<div style="-aw-sdt-tag:'PG_c24bb3258a68b0280db8'"></div>The measure of segment assets that is regularly reported to the CODM includes cash and cash equivalents and short-term investments, each as reported on the consolidated condensed balance sheets. Total consolidated cash and cash equivalents and short-term investments were $1,966,930 and $3,387,825 as of June 30, 2025 and December 31, 2024, respectively. Derivative Liabilities The Company analyzes all financial instruments with features of both liabilities and equity under FASB ASC Topic No. 480, Distinguishing Liabilities from Equity (“ASC 480”), and FASB ASC Topic No. 815, Derivatives and Hedging (“ASC 815”). The classification of derivative financial instruments is reassessed each reporting period. Derivative liabilities are adjusted to reflect fair value at each reporting period, with any increase or decrease in the fair value recorded in the results of operations, as a component of other income or expense as change in fair value of derivative liabilities. As of June 30, 2025, derivative liabilities consist of contingent payment arrangements. The Company uses a probability-weighted expected return method to determine the fair value of these instruments. Upon conversion or repayment of a debt or equity instrument in exchange for equity shares, where the embedded conversion option has been bifurcated and accounted for as a derivative liability (generally convertible debt and warrants), the Company records the equity shares at fair value on the date of conversion, relieves all related debt, derivative liabilities, and unamortized debt discounts, and recognizes a net gain or loss on debt extinguishment, if any. Equity or liability instruments that become subject to reclassification under ASC Topic 815 are reclassified at the fair value of the instrument on the reclassification date. Equity-Classified Warrants As of June 30, 2025, the Company accounts for all outstanding warrants to purchase common stock as equity-classified instruments based on an assessment of the warrants’ specific terms and applicable authoritative guidance in ASC 480 and ASC 815. This assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common stock and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the respective issuance dates and as of each subsequent reporting period while the warrants are outstanding. Revenue Recognition The Company recognizes revenue in accordance with FASB ASC Topic No. 606, Revenue from Contracts with Customers (“ASC 606”). Revenues are recognized when control is transferred to customers in amounts that reflect the consideration the Company expects to be entitled to receive in exchange for those goods. Revenue recognition is evaluated through the following five steps: (i) identification of the contract, or contracts, with a customer; (ii) identification of the performance obligations in the contract; (iii) determination of the transaction price; (iv) allocation of the transaction price to the performance obligations in the contract; and (v) recognition of revenue when or as a performance obligation is satisfied. As part of the accounting for these arrangements, the Company may be required to make significant judgments, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each performance obligation. Revenues from product sales are recorded at the net sales price, or “transaction price,” which may include estimates of variable consideration that result from product returns. The Company determines the amount of variable consideration by using either the expected value method or the most-likely-amount method. The Company includes the unconstrained amount of estimated variable consideration in the transaction price, which reflects the amount for which it is probable that a significant reversal of cumulative revenue recognized will not occur. At the end of each subsequent reporting period, the Company re-evaluates the estimated variable consideration included in the transaction price and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis in the period of adjustment. Reserves are established for the estimates of variable consideration based on the amounts the Company expects to be earned or to be claimed on the related sales. <div style="-aw-sdt-tag:'PG_c6053e6c5f792d82acc2'"></div>The Company receives the majority of its revenues from sales of its Arakoda product to resellers in the US and abroad. The Company records US commercial revenues as a receivable when our American distributor transfers shipped product to their title model for 60P. Foreign sales to both Australia and Europe are recognized as a receivable at the point product is shipped to distributor. The shipments to Australia and Europe are further subject to profit sharing agreements for boxes sold to customers. Research and Development Costs The Company accounts for research and development costs in accordance with FASB ASC Subtopic No. 730-10, Research and Development (“ASC 730-10”). Under ASC 730-10, research and development costs are expensed as incurred. Accordingly, internal research and development costs are expensed as incurred. Prepayments for research and development services are deferred and amortized over the service period as the services are provided. Advance payments for specific materials, equipment, or facilities determined to have no alternative future use are initially deferred and recognized as research and development expense when the related goods are delivered. The Company recorded $249,884 and $3,095,326 in research and development expense during the three months ended June 30, 2025 and 2024, respectively, ($657,506 and $3,432,508 for the six months ended June 30, 2025 and 2024, respectively). The Company has also issued shares of common stock to nonemployees in exchange for research and development services. The Company recognizes prepaid research and development costs on the grant date, as defined in FASB ASC Subtopic No. 718, Compensation - Stock Compensation. See Note 10 for further details. Fair Value of Financial Instruments The carrying value of the Company’s financial instruments included in current assets and current liabilities (such as cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses) approximate their fair value due to the short-term nature of such instruments. The inputs used to measure fair value are based on a hierarchy that prioritizes observable and unobservable inputs used in valuation techniques. These levels, in order of highest to lowest priority, are described below: <table cellpadding="0" cellspacing="0" style="width:100%"><tbody><tr><td style="width:36pt; vertical-align:top">Level 1</td><td style="width:18pt; vertical-align:top"><div style="-aw-sdt-tag:'c574d522f70efd479dc3'">-</div></td><td style="vertical-align:top">Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities.</td></tr><tr><td style="vertical-align:top"> </td><td style="vertical-align:top"> </td><td style="vertical-align:top"> </td></tr><tr><td style="vertical-align:top">Level 2</td><td style="vertical-align:top"><div style="-aw-sdt-tag:'c41453b900cbc0348861'">-</div></td><td style="vertical-align:top">Observable prices that are based on inputs not quoted on active markets but corroborated by market data.</td></tr><tr><td style="vertical-align:top"> </td><td style="vertical-align:top"> </td><td style="vertical-align:top"> </td></tr><tr><td style="vertical-align:top">Level 3</td><td style="vertical-align:top"><div style="-aw-sdt-tag:'c38191d9430425b3ee7b'">-</div></td><td style="vertical-align:top">Unobservable inputs reflecting the Company’s assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.</td></tr></tbody></table> The Company’s financial instruments recorded at fair value on a recurring basis at June 30, 2025, and December 31, 2024 include the derivative liability associated with the contingent milestone payment due to Knight upon a future sale of Arakoda or a Change of Control, which is carried at fair value based on Level 3 inputs. The Company uses a probability-weighted expected return method to determine the fair value of the contingent milestone payment using significant inputs such as the timing and probability of discrete potential exit scenarios, forward interest rate curves, and discount rates based on implied and market yields. See Note 8 for more information on Derivative Liabilities. <div style="-aw-sdt-tag:'PG_c0c20bca974f854c1494'"></div>Liabilities measured at fair value at June 30, 2025 and December 31, 2024 are as follows: <div style="-aw-sdt-tag:'cf921e92f02c49f734d5'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="11" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1f865470141349c9b37ae84a55aacecc'">June 30, 2025</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a9a7008663a046198bc1b79f62990348'"> Level 1</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_81f8a817fe384b62ae7dcf394585ad13'"> Level 2</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0f2ddb2f4dea4255b9372b845c3d8cf9'"> Level 3</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5169a80e4244429fb7957e47ebcd8580'"> Total</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c3fe79fa6419450bb2de75dc0fbcb8e0'"> Liabilities:</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_37594b78a4ff46fda8c7c6c31dda2819'"> Derivative Liabilities</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7f6e995134194c1f85dce5bf4027caab'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1ebf3664e1d74ad8aa7a5f6f86bcafc6'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2f314ddebd474b209bfcbd65835b25ed'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ab7845e24d35492db1dd11a0aaa21e2e'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e71039cd49df4ed0a91d801f3eecd241'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c478d60eaf6f4ba79d74d84f29ff1501'">776,172</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d7e156ea5a164ce28ac588dac4d1a77f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_706a282cea3b4dce906d3c671c501ff6'">776,172</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e3a4e18287cc4026a749060e1e8fb5a9'"> Total</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_105c7afdf9de422991cf5a00287ac307'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_7d18406ed78f4c4f8c3bb851f3c5e787'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_49026756b4a640278f43ece44be0ab14'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a3c7a3645b97455cade875ff7e738781'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_8bbc20c75ef0447fa466d4bfaafb8f5f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_62a7e9f4e692400483031bb740e41569'">776,172</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_07827564eb61499086af507f234ed67f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1600b9fa42ba44889bf927265c22067e'">776,172</div></td></tr></tbody></table></div> <div style="-aw-sdt-tag:'cb468fdcd6e0460b0777'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T2'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="11" style="border-bottom:1pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4b44e1528e8c4f3cbca59f75d6bdc366'">December 31, 2024</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_63bb47cb4152462c97cb5bc1a070ad98'"> Level 1</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b9e93ac9d9e9420ea54dc08f973671b4'"> Level 2</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6cfd423b093941b7a426daca9a7c4fd9'"> Level 3</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ba6b2c8ff28f4584a84bb8a1cf763836'"> Total</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a6ef2c6558264f7ca0c50be6c5f2e477'"> Liabilities:</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1ad21d4a0f664c76a8a1de7dc61969e3'"> Derivative Liabilities</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0c00d5728d434da99efe8bee0a732f0f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_38b73fa55f154f55af3cfbeff629bf16'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e025b21daccb422bbc8f2753e7ae30b9'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_333fc1e0c3f6433084115dd2779c80c0'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ccf3e162c56f48aabe5b242a8d57684f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_fda27296d6fe4023a90164878a00a1d8'">640,830</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_121a4a1679bd49579650a47153a7674a'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_8c697e7693374899bebfc6db6f39b905'">640,830</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_cb56be67da024df7ab547d83c57f3594'"> Total</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1d0941b2301d4640a725a3c444db0b29'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_34e9411fc246454890a3839765ba75c7'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5c011b0873844cb68a8ad4cfa194d590'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_59708d0fdeda4619aa91fe10eff71319'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_fcc1b7589a9c4ce3859c970a7eb6b9c6'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_712785fcd2f54bfb89d8883eed8aebd5'">640,830</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e0ed0ee91ac4479e99c9a1322299ae2a'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a4fc6be6554e49b0832d0ac5c0e1c4d7'">640,830</div></td></tr></tbody></table></div> There were no transfers of financial instruments between Level 1, Level 2, and Level 3 during the periods presented. A rollforward of liabilities measured at fair value using Level 3 inputs for the three and six months ended June 30, 2025 and 2024 is presented in Note 8 (Derivative Liabilities). Assets and Liabilities Not Measured at Fair Value on a Recurring Basis In addition to assets and liabilities that are measured at fair value on a recurring basis, the Company also measures certain assets and liabilities at fair value on a nonrecurring basis. The Company’s non-financial assets, including Intangible Assets and Property and Equipment, are measured at fair value when there is an indication of impairment and the carrying amount exceeds the asset’s projected undiscounted cash flows. These assets are recorded at fair value only when an impairment charge is recognized. Certificates of deposit, classified as cash equivalents or short-term investments depending on the instrument’s original time to maturity, are measured at amortized cost, which approximates fair value as of June 30, 2025 and December 31, 2024. Foreign Currency Transactions and Translation The individual financial statements of each group entity are measured and presented in the currency of the primary economic environment in which the entity operates (its functional currency). The consolidated condensed financial statements of the Company are presented in United States dollars, which is the functional currency of the Company and the presentation currency for the consolidated condensed financial statements. For the purpose of presenting consolidated condensed financial statements, the assets and liabilities of the Company’s foreign operations are mostly translated at exchange rates prevailing on the reporting date. Income and expense items are translated at the average exchange rates for the period, unless exchange rates fluctuate significantly during that period, in which case the exchange rates at the dates of the transactions are used. Exchange differences arising, if any, are recognized as a component of other comprehensive income (loss) as unrealized foreign currency translation gain (loss). <div style="-aw-sdt-tag:'PG_c0a5df5ef4dd14c932ff'"></div>Exchange rates along with historical rates used in these financial statements are as follows: <div style="-aw-sdt-tag:'c53a92c3f57cbc27e831'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T3'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:34%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="17" style="border-bottom:1.5pt solid #000000; padding:0.75pt; vertical-align:bottom; -aw-padding-bottom:0.75pt"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9482da9e9ef24112bed6d94f9f662d7c'">Average Exchange Rate</div></td></tr><tr style="height:11.5pt"><td style="width:34%; vertical-align:middle"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="5" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding:0.75pt; vertical-align:bottom; -aw-padding-bottom:0.75pt; -aw-padding-top:0.75pt"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_659f3565fccf471d885d5bbcc6f23513'">Three Months Ended June 30,</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="5" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_af26db9d568a41c18f4404ac7ead58b6'">Six Months Ended June 30,</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="5" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_cf885fb35a704f019f0cad0d5795b8d8'">As of</div></td></tr><tr style="height:11.5pt"><td style="width:34%; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_973ee19447724c17b71b4faa457b2249'">Currency</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding:0.75pt; vertical-align:bottom; -aw-padding-bottom:0.75pt; -aw-padding-top:0.75pt"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e3e1c97c5b854e929dfeef87960bfbc4'">2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_91424ca5026c4cce945405cc6ea74a81'">2024</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_791c5860584c493ba5598384cfdde256'">2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_fd4986cad1d4488da73173ef15330bc0'">2024</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_63ce180cbb5d445f83c9530d4f721062'">June 30, 2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d9d1430a9c7a400390a13074b0c685af'">December 31, 2024</div></td></tr><tr style="height:11.5pt"><td style="width:34%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_dde09534ca0e4664b9e7a6dbce09d46b'">1 AUD =</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7254928b2f564e559f8c533598d728fb'">0.64</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_01fc1cc76a7d496482338117b041e5d7'">USD</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0dd2b89b644c47918dd20e0ae4036641'">0.66</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_60bc7b550ded4fd0b8454a10aff9f2b9'">USD</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_39890b79d6d94e83bbb6512adb82089c'">0.63</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bcf46b0b9cd64fa28023abd0bd2f9eeb'">USD</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ffd190f4cb644fdc858572d0e04df5bc'">0.66</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2ed4c46e122f4c9388749a2785a69bc5'">USD</div></td><td style="width:1%; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_deaa0fa001c447fa9db5c11c7e69f76e'">0.66</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4ed3d209ddad4027b90139f12205d725'">USD</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f1dbbad2340443dba35674893ccabab6'">0.62</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'c777f028f5d92d4cc514'">USD</div></td></tr></tbody></table></div> Reclassifications Certain prior period interim amounts have been reclassified for consistency with the current period presentation. These reclassifications had no material effect on the consolidated condensed results of operations and comprehensive loss, shareholders’ equity, or cash flows. Share-Based Payments On November 22, 2022, the Company adopted the 2022 Equity Incentive Plan also referred to as (“2022 Plan”). The 2022 Plan and related share-based awards are discussed more fully in Note 10. The Company accounts for share-based payments in accordance with ASC Subtopic 718, Compensation - Stock Compensation (“ASC 718”). The Company measures compensation for all share-based payment awards granted to employees, directors, and nonemployees, based on the estimated fair value of the awards on the date of grant. For awards that vest based on continued service, the service-based compensation cost is recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the awards. For service vesting awards with compensation expense recognized on a straight-line basis, at no point in time does the cumulative grant date value of vested awards exceed the cumulative amount of compensation expense recognized. The grant date is determined based on the date when a mutual understanding of the key terms of the share-based awards is established. The Company accounts for forfeitures as they occur. The Company estimates the fair value of all stock option awards as of the grant date by applying the Black-Scholes option pricing model. The application of this valuation model involves assumptions, including the fair value of the common stock, expected volatility, risk-free interest rate, expected dividends and the expected term of the option. Due to the lack of a public market for the Company’s common stock prior to the IPO and lack of company-specific historical implied volatility data, the Company has based its computations of expected volatility on the historical volatility of a representative group of public companies with similar characteristics of the Company, including stage of development and industry focus. The historical volatility is calculated based on a period of time commensurate with the expected term assumption. The Company generally uses the simplified method as prescribed by the SEC Staff Accounting Bulletin Topic 14, Share-Based Payment, to estimate the expected term for stock options, whereby, the expected term equals the midpoint of the weighted average remaining time to vest, vesting period and the contractual term of the options due to its lack of historical exercise data. For certain options granted out-of-the-money, the Company’s best estimate of the expected term is the contractual term of the award. The risk-free interest rate is based on U.S. Treasury securities with a maturity date commensurate with the expected term of the associated award. The expected dividend yield is assumed to be zero as the Company has never paid dividends and has no current plans to pay any dividends on its common stock. The assumptions used in calculating the fair value of share-based awards represent management’s best estimates and involve inherent uncertainties and the application of significant judgment. Compensation expense for restricted stock units (“RSUs”) with only service-based vesting conditions is recognized on a straight-line basis over the vesting period. Compensation cost for service-based RSUs is based on the grant date fair value of the award, which is the closing market price of the Company’s common stock on the grant date multiplied by the number of shares awarded. For awards that vest upon a liquidity event or a change in control, the performance condition is not probable of being achieved until the event occurs. As a result, no compensation expense is recognized until the performance-based vesting condition is achieved, at which time the cumulative compensation expense is recognized. Compensation cost related to any remaining time-based service for share-based awards after the liquidity-based event is recognized on a straight-line basis over the remaining service period. For fully vested, nonforfeitable equity instruments that are granted at the date the Company and a nonemployee enter into an agreement for goods or services, the Company recognizes the fair value of the equity instruments on the grant date. The corresponding cost is recognized as an immediate expense or a prepaid asset and expensed over the service period depending on the specific facts and circumstances of the agreement with the nonemployee. See Note 10 for further details. <div style="-aw-sdt-tag:'PG_c8b1ac81b7bf3b856ef3'"></div>Net Loss per Common Share Net Loss per Common Share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding during each period. The Company includes pre-funded warrants, which carry a nominal exercise price per share, in its computation of basic and diluted net loss per share beginning on the date of issuance. The cumulative dividends accrued on the Series A Preferred Stock during the period are reflected as an addition to net loss or a reduction of net income in determining basic and diluted net loss attributable to common stockholders. As the Company reported a net loss for all periods presented, the calculation of diluted net loss per common share is the same as basic net loss per common share. As a result of the Reverse Stock Splits, which were effective as of August 12, 2024 at a ratio of 1:12 and February 24, 2025 at a ratio of 1:5, all shares of outstanding common stock and net loss per common share calculations have been retroactively adjusted for all periods presented. Related Parties Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal with if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. Subsequent Events The Company considers events or transactions that occur after the balance sheet date, but prior to the issuance of the financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated through August 13, 2025, which is the date the financial statements were issued. See Note 12. Recently Adopted and Issued Accounting Pronouncements From time to time, the FASB issues Accounting Standards Updates (“ASU”) to amend the authoritative literature in the ASC. The Company regularly evaluates new ASUs to determine the impact that these pronouncements may have on the consolidated condensed financial statements. Other than the pronouncements listed below, the Company believes that those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, or (iii) are not applicable to the Company’s consolidated condensed financial statements or related disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”) which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses and segment profit or loss. ASU 2023-07 also requires entities with a single reportable segment to provide all segment disclosures under ASC 280, including the new required disclosures under the ASU. The Company adopted ASU 2023-07 on a retrospective basis for the 2024 annual period, and for interim periods beginning in 2025. The impact is limited to the Company’s financial statement disclosures, which are presented in the Segment Information section above. In December 2023, the FASB issued ASU 2023-09, Income Taxes (ASC 740): Improvements to Income Tax Disclosures (“ASU 2023-09”) which requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact that ASU 2023-09 will have on its financial statement disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which applies to all public business entities that file financial statements with the SEC. The amendments in this ASU require public business entities to disclose on an annual and interim basis, disaggregated information about certain income statement expense line items. The new standard is effective for fiscal years beginning after December 15, 2026, with early adoption permitted. The Company is currently evaluating the impact that ASU 2024-03 will have on its financial statement disclosures.

Basis of Presentation The financial statements of 60P are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company has prepared the accompanying consolidated condensed financial statements pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities and Exchange Commission (“SEC”). These financial statements are unaudited and, in the opinion of management, all adjustments considered necessary for a fair presentation of the Company’s financial position, results of operations, and cash flows have been included and are of a normal and recurring nature. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2025 due to various factors. These consolidated condensed financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto as of and for the years ended December 31, 2024 and 2023, included in the Company’s annual report on Form 10-K, as filed with the SEC on March 27, 2025 (the “Annual Report”). Certain information, footnote disclosures, and significant accounting policies that would substantially duplicate the disclosures contained in the Annual Report have been omitted.

Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and those estimates may be material. Significant estimates include the reserve for inventory, the fair value of derivative liabilities, and stock-based compensation.

Reverse Stock Splits Following stockholder approval in July 2024, the Company effected a reverse stock split at a ratio of 1:12, which was effective as of August 12, 2024 (the “1:12 Reverse Stock Split”). On November 6, 2024, a majority of the Company’s stockholders approved an additional reverse stock split at a split ratio ranging between 1:3 and 1:5, as determined by the Board of Directors in its sole discretion. On February 10, 2025, the Board of Directors approved a 1:5 reverse split ratio. On February 24, 2025, the Company effected the 1:5 reverse stock split (the “1:5 Reverse Stock Split”, and together with the 1:12 Reverse Stock Split, the “Reverse Stock Splits”). Beginning February 24, 2025, the common stock traded on The Nasdaq Capital Market on a split adjusted basis. Proportional adjustments were made to the number of shares of common stock issuable upon exercise or conversion of the Company’s equity awards, warrants, and other equity instruments convertible into common stock, as well as the respective exercise prices, if applicable, in accordance with the terms of the instruments. Unless otherwise noted, all references to numbers of shares of the Company’s common stock and per share information presented in these consolidated condensed financial statements have been retroactively adjusted, as appropriate, to reflect the Reverse Stock Splits, including reclassifying an amount equal to the reduction in par value of common stock to additional paid-in capital.

On November 6, 2024, a majority of the Company’s stockholders approved an additional reverse stock split at a split ratio ranging between 1:3 and 1:5, as determined by the Board of Directors in its sole discretion.

On February 10, 2025, the Board of Directors approved a 1:5 reverse split ratio. On February 24, 2025, the Company effected the 1:5 reverse stock split (the “1:5 Reverse Stock Split”, and together with the 1:12 Reverse Stock Split, the “Reverse Stock Splits”).

Concentrations Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, short-term investments, accounts receivable, inventory purchases, and borrowings. Significant customers represent any customer whose business makes up 10% of receivables or revenues. At June 30, 2025, significant customers represented 94% of receivables (consisting of six total customers and three significant customers at 37%, 30% and 27%, respectively), and 95% of receivables at December 31, 2024 (consisting of three customers and one significant customer). For the three months ended June 30, 2025, significant customers comprised 99% of total net product revenues (consisting of three total customers and two significant customers at 78% and 21%, respectively). For the three months ended June 30, 2024, 92% of total net product revenues (consisting of three total customers and one significant customer) were generated from significant customers. For the six months ended June 30, 2025, 95% of total net product revenues (consisting of three customers and two significant customers at 61% and 34%, respectively) were generated from significant customers. For the six months ended June 30, 2024, 96% of total net product revenues (consisting of two customers and one significant customer) were generated from significant customers. Currently, the Company has exclusive relationships with distributors in Australia and Europe. A failure to perform by any of our current distributors would create disruption for patients in those markets. Since the Company first started working on tafenoquine, all inventory has been acquired in a collaborative relationship from a sole vendor. Should the vendor cease to supply tafenoquine, it would take significant costs and efforts to rebuild the supply chain with a new sole vendor sourcing the active pharmaceutical ingredient (“API”).

0.10

0.94

0.37

0.30

0.27

0.95

0.99

0.78

0.21

0.92

0.95

0.61

0.34

0.96

Segment Information Since its inception, the Company operates and manages its business as a single identifiable segment, focused on the development and marketing of new medicines for the treatment and prevention of infectious diseases. The determination of a single business segment is consistent with the consolidated financial information regularly provided to the Company’s chief operating decision maker (“CODM”). The Company’s CODM is its Chief Executive Officer, who reviews and evaluates consolidated net income or loss for purposes of evaluating performance, making operating decisions, allocating resources, and planning and forecasting for future periods. The significant components of consolidated net income or loss regularly provided to the CODM include net product revenues and the significant expense categories presented in the accompanying consolidated condensed statements of operations and comprehensive loss (cost of revenues, research and development, and general and administrative expenses). These are presented at the consolidated level and used by the CODM to monitor budgeted versus actual results to make key operating decisions. The information and operating expense categories presented in the accompanying consolidated condensed statements of operations and comprehensive loss are fully reflective of the significant expense categories and amounts that are regularly provided to the CODM.<div style="-aw-sdt-tag:'PG_c24bb3258a68b0280db8'"></div>The measure of segment assets that is regularly reported to the CODM includes cash and cash equivalents and short-term investments, each as reported on the consolidated condensed balance sheets. Total consolidated cash and cash equivalents and short-term investments were $1,966,930 and $3,387,825 as of June 30, 2025 and December 31, 2024, respectively.

1966930

3387825

Derivative Liabilities The Company analyzes all financial instruments with features of both liabilities and equity under FASB ASC Topic No. 480, Distinguishing Liabilities from Equity (“ASC 480”), and FASB ASC Topic No. 815, Derivatives and Hedging (“ASC 815”). The classification of derivative financial instruments is reassessed each reporting period. Derivative liabilities are adjusted to reflect fair value at each reporting period, with any increase or decrease in the fair value recorded in the results of operations, as a component of other income or expense as change in fair value of derivative liabilities. As of June 30, 2025, derivative liabilities consist of contingent payment arrangements. The Company uses a probability-weighted expected return method to determine the fair value of these instruments. Upon conversion or repayment of a debt or equity instrument in exchange for equity shares, where the embedded conversion option has been bifurcated and accounted for as a derivative liability (generally convertible debt and warrants), the Company records the equity shares at fair value on the date of conversion, relieves all related debt, derivative liabilities, and unamortized debt discounts, and recognizes a net gain or loss on debt extinguishment, if any. Equity or liability instruments that become subject to reclassification under ASC Topic 815 are reclassified at the fair value of the instrument on the reclassification date.

Equity-Classified Warrants As of June 30, 2025, the Company accounts for all outstanding warrants to purchase common stock as equity-classified instruments based on an assessment of the warrants’ specific terms and applicable authoritative guidance in ASC 480 and ASC 815. This assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common stock and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the respective issuance dates and as of each subsequent reporting period while the warrants are outstanding.

Revenue Recognition The Company recognizes revenue in accordance with FASB ASC Topic No. 606, Revenue from Contracts with Customers (“ASC 606”). Revenues are recognized when control is transferred to customers in amounts that reflect the consideration the Company expects to be entitled to receive in exchange for those goods. Revenue recognition is evaluated through the following five steps: (i) identification of the contract, or contracts, with a customer; (ii) identification of the performance obligations in the contract; (iii) determination of the transaction price; (iv) allocation of the transaction price to the performance obligations in the contract; and (v) recognition of revenue when or as a performance obligation is satisfied. As part of the accounting for these arrangements, the Company may be required to make significant judgments, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each performance obligation. Revenues from product sales are recorded at the net sales price, or “transaction price,” which may include estimates of variable consideration that result from product returns. The Company determines the amount of variable consideration by using either the expected value method or the most-likely-amount method. The Company includes the unconstrained amount of estimated variable consideration in the transaction price, which reflects the amount for which it is probable that a significant reversal of cumulative revenue recognized will not occur. At the end of each subsequent reporting period, the Company re-evaluates the estimated variable consideration included in the transaction price and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis in the period of adjustment. Reserves are established for the estimates of variable consideration based on the amounts the Company expects to be earned or to be claimed on the related sales. <div style="-aw-sdt-tag:'PG_c6053e6c5f792d82acc2'"></div>The Company receives the majority of its revenues from sales of its Arakoda product to resellers in the US and abroad. The Company records US commercial revenues as a receivable when our American distributor transfers shipped product to their title model for 60P. Foreign sales to both Australia and Europe are recognized as a receivable at the point product is shipped to distributor. The shipments to Australia and Europe are further subject to profit sharing agreements for boxes sold to customers.

Research and Development Costs The Company accounts for research and development costs in accordance with FASB ASC Subtopic No. 730-10, Research and Development (“ASC 730-10”). Under ASC 730-10, research and development costs are expensed as incurred. Accordingly, internal research and development costs are expensed as incurred. Prepayments for research and development services are deferred and amortized over the service period as the services are provided. Advance payments for specific materials, equipment, or facilities determined to have no alternative future use are initially deferred and recognized as research and development expense when the related goods are delivered. The Company recorded $249,884 and $3,095,326 in research and development expense during the three months ended June 30, 2025 and 2024, respectively, ($657,506 and $3,432,508 for the six months ended June 30, 2025 and 2024, respectively). The Company has also issued shares of common stock to nonemployees in exchange for research and development services. The Company recognizes prepaid research and development costs on the grant date, as defined in FASB ASC Subtopic No. 718, Compensation - Stock Compensation. See Note 10 for further details.

249884

3095326

657506

3432508

Fair Value of Financial Instruments The carrying value of the Company’s financial instruments included in current assets and current liabilities (such as cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses) approximate their fair value due to the short-term nature of such instruments. The inputs used to measure fair value are based on a hierarchy that prioritizes observable and unobservable inputs used in valuation techniques. These levels, in order of highest to lowest priority, are described below: <table cellpadding="0" cellspacing="0" style="width:100%"><tbody><tr><td style="width:36pt; vertical-align:top">Level 1</td><td style="width:18pt; vertical-align:top"><div style="-aw-sdt-tag:'c574d522f70efd479dc3'">-</div></td><td style="vertical-align:top">Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities.</td></tr><tr><td style="vertical-align:top"> </td><td style="vertical-align:top"> </td><td style="vertical-align:top"> </td></tr><tr><td style="vertical-align:top">Level 2</td><td style="vertical-align:top"><div style="-aw-sdt-tag:'c41453b900cbc0348861'">-</div></td><td style="vertical-align:top">Observable prices that are based on inputs not quoted on active markets but corroborated by market data.</td></tr><tr><td style="vertical-align:top"> </td><td style="vertical-align:top"> </td><td style="vertical-align:top"> </td></tr><tr><td style="vertical-align:top">Level 3</td><td style="vertical-align:top"><div style="-aw-sdt-tag:'c38191d9430425b3ee7b'">-</div></td><td style="vertical-align:top">Unobservable inputs reflecting the Company’s assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.</td></tr></tbody></table> The Company’s financial instruments recorded at fair value on a recurring basis at June 30, 2025, and December 31, 2024 include the derivative liability associated with the contingent milestone payment due to Knight upon a future sale of Arakoda or a Change of Control, which is carried at fair value based on Level 3 inputs. The Company uses a probability-weighted expected return method to determine the fair value of the contingent milestone payment using significant inputs such as the timing and probability of discrete potential exit scenarios, forward interest rate curves, and discount rates based on implied and market yields. See Note 8 for more information on Derivative Liabilities. <div style="-aw-sdt-tag:'PG_c0c20bca974f854c1494'"></div>Liabilities measured at fair value at June 30, 2025 and December 31, 2024 are as follows: <div style="-aw-sdt-tag:'cf921e92f02c49f734d5'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="11" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1f865470141349c9b37ae84a55aacecc'">June 30, 2025</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a9a7008663a046198bc1b79f62990348'"> Level 1</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_81f8a817fe384b62ae7dcf394585ad13'"> Level 2</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0f2ddb2f4dea4255b9372b845c3d8cf9'"> Level 3</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5169a80e4244429fb7957e47ebcd8580'"> Total</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c3fe79fa6419450bb2de75dc0fbcb8e0'"> Liabilities:</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_37594b78a4ff46fda8c7c6c31dda2819'"> Derivative Liabilities</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7f6e995134194c1f85dce5bf4027caab'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1ebf3664e1d74ad8aa7a5f6f86bcafc6'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2f314ddebd474b209bfcbd65835b25ed'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ab7845e24d35492db1dd11a0aaa21e2e'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e71039cd49df4ed0a91d801f3eecd241'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c478d60eaf6f4ba79d74d84f29ff1501'">776,172</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d7e156ea5a164ce28ac588dac4d1a77f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_706a282cea3b4dce906d3c671c501ff6'">776,172</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e3a4e18287cc4026a749060e1e8fb5a9'"> Total</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_105c7afdf9de422991cf5a00287ac307'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_7d18406ed78f4c4f8c3bb851f3c5e787'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_49026756b4a640278f43ece44be0ab14'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a3c7a3645b97455cade875ff7e738781'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_8bbc20c75ef0447fa466d4bfaafb8f5f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_62a7e9f4e692400483031bb740e41569'">776,172</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_07827564eb61499086af507f234ed67f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1600b9fa42ba44889bf927265c22067e'">776,172</div></td></tr></tbody></table></div> <div style="-aw-sdt-tag:'cb468fdcd6e0460b0777'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T2'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="11" style="border-bottom:1pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4b44e1528e8c4f3cbca59f75d6bdc366'">December 31, 2024</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_63bb47cb4152462c97cb5bc1a070ad98'"> Level 1</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b9e93ac9d9e9420ea54dc08f973671b4'"> Level 2</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6cfd423b093941b7a426daca9a7c4fd9'"> Level 3</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ba6b2c8ff28f4584a84bb8a1cf763836'"> Total</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a6ef2c6558264f7ca0c50be6c5f2e477'"> Liabilities:</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1ad21d4a0f664c76a8a1de7dc61969e3'"> Derivative Liabilities</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0c00d5728d434da99efe8bee0a732f0f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_38b73fa55f154f55af3cfbeff629bf16'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e025b21daccb422bbc8f2753e7ae30b9'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_333fc1e0c3f6433084115dd2779c80c0'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ccf3e162c56f48aabe5b242a8d57684f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_fda27296d6fe4023a90164878a00a1d8'">640,830</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_121a4a1679bd49579650a47153a7674a'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_8c697e7693374899bebfc6db6f39b905'">640,830</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_cb56be67da024df7ab547d83c57f3594'"> Total</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1d0941b2301d4640a725a3c444db0b29'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_34e9411fc246454890a3839765ba75c7'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5c011b0873844cb68a8ad4cfa194d590'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_59708d0fdeda4619aa91fe10eff71319'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_fcc1b7589a9c4ce3859c970a7eb6b9c6'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_712785fcd2f54bfb89d8883eed8aebd5'">640,830</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e0ed0ee91ac4479e99c9a1322299ae2a'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a4fc6be6554e49b0832d0ac5c0e1c4d7'">640,830</div></td></tr></tbody></table></div> There were no transfers of financial instruments between Level 1, Level 2, and Level 3 during the periods presented. A rollforward of liabilities measured at fair value using Level 3 inputs for the three and six months ended June 30, 2025 and 2024 is presented in Note 8 (Derivative Liabilities).

Liabilities measured at fair value at June 30, 2025 and December 31, 2024 are as follows: <div style="-aw-sdt-tag:'cf921e92f02c49f734d5'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="11" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1f865470141349c9b37ae84a55aacecc'">June 30, 2025</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a9a7008663a046198bc1b79f62990348'"> Level 1</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_81f8a817fe384b62ae7dcf394585ad13'"> Level 2</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0f2ddb2f4dea4255b9372b845c3d8cf9'"> Level 3</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5169a80e4244429fb7957e47ebcd8580'"> Total</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c3fe79fa6419450bb2de75dc0fbcb8e0'"> Liabilities:</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_37594b78a4ff46fda8c7c6c31dda2819'"> Derivative Liabilities</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7f6e995134194c1f85dce5bf4027caab'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1ebf3664e1d74ad8aa7a5f6f86bcafc6'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2f314ddebd474b209bfcbd65835b25ed'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ab7845e24d35492db1dd11a0aaa21e2e'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e71039cd49df4ed0a91d801f3eecd241'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c478d60eaf6f4ba79d74d84f29ff1501'">776,172</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d7e156ea5a164ce28ac588dac4d1a77f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_706a282cea3b4dce906d3c671c501ff6'">776,172</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e3a4e18287cc4026a749060e1e8fb5a9'"> Total</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_105c7afdf9de422991cf5a00287ac307'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_7d18406ed78f4c4f8c3bb851f3c5e787'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_49026756b4a640278f43ece44be0ab14'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_a3c7a3645b97455cade875ff7e738781'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_8bbc20c75ef0447fa466d4bfaafb8f5f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_62a7e9f4e692400483031bb740e41569'">776,172</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_07827564eb61499086af507f234ed67f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1600b9fa42ba44889bf927265c22067e'">776,172</div></td></tr></tbody></table></div> <div style="-aw-sdt-tag:'cb468fdcd6e0460b0777'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T2'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="11" style="border-bottom:1pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4b44e1528e8c4f3cbca59f75d6bdc366'">December 31, 2024</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_63bb47cb4152462c97cb5bc1a070ad98'"> Level 1</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b9e93ac9d9e9420ea54dc08f973671b4'"> Level 2</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6cfd423b093941b7a426daca9a7c4fd9'"> Level 3</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ba6b2c8ff28f4584a84bb8a1cf763836'"> Total</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a6ef2c6558264f7ca0c50be6c5f2e477'"> Liabilities:</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1ad21d4a0f664c76a8a1de7dc61969e3'"> Derivative Liabilities</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0c00d5728d434da99efe8bee0a732f0f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_38b73fa55f154f55af3cfbeff629bf16'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e025b21daccb422bbc8f2753e7ae30b9'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_333fc1e0c3f6433084115dd2779c80c0'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ccf3e162c56f48aabe5b242a8d57684f'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_fda27296d6fe4023a90164878a00a1d8'">640,830</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_121a4a1679bd49579650a47153a7674a'">$</div></td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_8c697e7693374899bebfc6db6f39b905'">640,830</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_cb56be67da024df7ab547d83c57f3594'"> Total</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1d0941b2301d4640a725a3c444db0b29'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_34e9411fc246454890a3839765ba75c7'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5c011b0873844cb68a8ad4cfa194d590'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_59708d0fdeda4619aa91fe10eff71319'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_fcc1b7589a9c4ce3859c970a7eb6b9c6'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_712785fcd2f54bfb89d8883eed8aebd5'">640,830</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e0ed0ee91ac4479e99c9a1322299ae2a'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a4fc6be6554e49b0832d0ac5c0e1c4d7'">640,830</div></td></tr></tbody></table></div>

776172

640830

Assets and Liabilities Not Measured at Fair Value on a Recurring Basis In addition to assets and liabilities that are measured at fair value on a recurring basis, the Company also measures certain assets and liabilities at fair value on a nonrecurring basis. The Company’s non-financial assets, including Intangible Assets and Property and Equipment, are measured at fair value when there is an indication of impairment and the carrying amount exceeds the asset’s projected undiscounted cash flows. These assets are recorded at fair value only when an impairment charge is recognized. Certificates of deposit, classified as cash equivalents or short-term investments depending on the instrument’s original time to maturity, are measured at amortized cost, which approximates fair value as of June 30, 2025 and December 31, 2024.

Foreign Currency Transactions and Translation The individual financial statements of each group entity are measured and presented in the currency of the primary economic environment in which the entity operates (its functional currency). The consolidated condensed financial statements of the Company are presented in United States dollars, which is the functional currency of the Company and the presentation currency for the consolidated condensed financial statements. For the purpose of presenting consolidated condensed financial statements, the assets and liabilities of the Company’s foreign operations are mostly translated at exchange rates prevailing on the reporting date. Income and expense items are translated at the average exchange rates for the period, unless exchange rates fluctuate significantly during that period, in which case the exchange rates at the dates of the transactions are used. Exchange differences arising, if any, are recognized as a component of other comprehensive income (loss) as unrealized foreign currency translation gain (loss). <div style="-aw-sdt-tag:'PG_c0a5df5ef4dd14c932ff'"></div>Exchange rates along with historical rates used in these financial statements are as follows: <div style="-aw-sdt-tag:'c53a92c3f57cbc27e831'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T3'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:34%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="17" style="border-bottom:1.5pt solid #000000; padding:0.75pt; vertical-align:bottom; -aw-padding-bottom:0.75pt"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9482da9e9ef24112bed6d94f9f662d7c'">Average Exchange Rate</div></td></tr><tr style="height:11.5pt"><td style="width:34%; vertical-align:middle"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="5" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding:0.75pt; vertical-align:bottom; -aw-padding-bottom:0.75pt; -aw-padding-top:0.75pt"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_659f3565fccf471d885d5bbcc6f23513'">Three Months Ended June 30,</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="5" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_af26db9d568a41c18f4404ac7ead58b6'">Six Months Ended June 30,</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="5" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_cf885fb35a704f019f0cad0d5795b8d8'">As of</div></td></tr><tr style="height:11.5pt"><td style="width:34%; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_973ee19447724c17b71b4faa457b2249'">Currency</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding:0.75pt; vertical-align:bottom; -aw-padding-bottom:0.75pt; -aw-padding-top:0.75pt"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e3e1c97c5b854e929dfeef87960bfbc4'">2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_91424ca5026c4cce945405cc6ea74a81'">2024</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_791c5860584c493ba5598384cfdde256'">2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_fd4986cad1d4488da73173ef15330bc0'">2024</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_63ce180cbb5d445f83c9530d4f721062'">June 30, 2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d9d1430a9c7a400390a13074b0c685af'">December 31, 2024</div></td></tr><tr style="height:11.5pt"><td style="width:34%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_dde09534ca0e4664b9e7a6dbce09d46b'">1 AUD =</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7254928b2f564e559f8c533598d728fb'">0.64</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_01fc1cc76a7d496482338117b041e5d7'">USD</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0dd2b89b644c47918dd20e0ae4036641'">0.66</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_60bc7b550ded4fd0b8454a10aff9f2b9'">USD</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_39890b79d6d94e83bbb6512adb82089c'">0.63</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bcf46b0b9cd64fa28023abd0bd2f9eeb'">USD</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ffd190f4cb644fdc858572d0e04df5bc'">0.66</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2ed4c46e122f4c9388749a2785a69bc5'">USD</div></td><td style="width:1%; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_deaa0fa001c447fa9db5c11c7e69f76e'">0.66</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4ed3d209ddad4027b90139f12205d725'">USD</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f1dbbad2340443dba35674893ccabab6'">0.62</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'c777f028f5d92d4cc514'">USD</div></td></tr></tbody></table></div>

Exchange rates along with historical rates used in these financial statements are as follows: <div style="-aw-sdt-tag:'c53a92c3f57cbc27e831'; -aw-sdt-title:'SIGNIFICANT ACCOUNTING POLICIES T3'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:34%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="17" style="border-bottom:1.5pt solid #000000; padding:0.75pt; vertical-align:bottom; -aw-padding-bottom:0.75pt"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9482da9e9ef24112bed6d94f9f662d7c'">Average Exchange Rate</div></td></tr><tr style="height:11.5pt"><td style="width:34%; vertical-align:middle"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="5" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding:0.75pt; vertical-align:bottom; -aw-padding-bottom:0.75pt; -aw-padding-top:0.75pt"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_659f3565fccf471d885d5bbcc6f23513'">Three Months Ended June 30,</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="5" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_af26db9d568a41c18f4404ac7ead58b6'">Six Months Ended June 30,</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="5" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_cf885fb35a704f019f0cad0d5795b8d8'">As of</div></td></tr><tr style="height:11.5pt"><td style="width:34%; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_973ee19447724c17b71b4faa457b2249'">Currency</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; padding:0.75pt; vertical-align:bottom; -aw-padding-bottom:0.75pt; -aw-padding-top:0.75pt"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e3e1c97c5b854e929dfeef87960bfbc4'">2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_91424ca5026c4cce945405cc6ea74a81'">2024</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_791c5860584c493ba5598384cfdde256'">2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_fd4986cad1d4488da73173ef15330bc0'">2024</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_63ce180cbb5d445f83c9530d4f721062'">June 30, 2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d9d1430a9c7a400390a13074b0c685af'">December 31, 2024</div></td></tr><tr style="height:11.5pt"><td style="width:34%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_dde09534ca0e4664b9e7a6dbce09d46b'">1 AUD =</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7254928b2f564e559f8c533598d728fb'">0.64</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_01fc1cc76a7d496482338117b041e5d7'">USD</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0dd2b89b644c47918dd20e0ae4036641'">0.66</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_60bc7b550ded4fd0b8454a10aff9f2b9'">USD</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_39890b79d6d94e83bbb6512adb82089c'">0.63</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bcf46b0b9cd64fa28023abd0bd2f9eeb'">USD</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ffd190f4cb644fdc858572d0e04df5bc'">0.66</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2ed4c46e122f4c9388749a2785a69bc5'">USD</div></td><td style="width:1%; vertical-align:bottom; background-color:#ccecff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_deaa0fa001c447fa9db5c11c7e69f76e'">0.66</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4ed3d209ddad4027b90139f12205d725'">USD</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:6%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f1dbbad2340443dba35674893ccabab6'">0.62</div></td><td style="width:4%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'c777f028f5d92d4cc514'">USD</div></td></tr></tbody></table></div>

0.64 0.66 0.63 0.66

0.66

0.62

Reclassifications Certain prior period interim amounts have been reclassified for consistency with the current period presentation. These reclassifications had no material effect on the consolidated condensed results of operations and comprehensive loss, shareholders’ equity, or cash flows.

Share-Based Payments On November 22, 2022, the Company adopted the 2022 Equity Incentive Plan also referred to as (“2022 Plan”). The 2022 Plan and related share-based awards are discussed more fully in Note 10. The Company accounts for share-based payments in accordance with ASC Subtopic 718, Compensation - Stock Compensation (“ASC 718”). The Company measures compensation for all share-based payment awards granted to employees, directors, and nonemployees, based on the estimated fair value of the awards on the date of grant. For awards that vest based on continued service, the service-based compensation cost is recognized on a straight-line basis over the requisite service period, which is generally the vesting period of the awards. For service vesting awards with compensation expense recognized on a straight-line basis, at no point in time does the cumulative grant date value of vested awards exceed the cumulative amount of compensation expense recognized. The grant date is determined based on the date when a mutual understanding of the key terms of the share-based awards is established. The Company accounts for forfeitures as they occur. The Company estimates the fair value of all stock option awards as of the grant date by applying the Black-Scholes option pricing model. The application of this valuation model involves assumptions, including the fair value of the common stock, expected volatility, risk-free interest rate, expected dividends and the expected term of the option. Due to the lack of a public market for the Company’s common stock prior to the IPO and lack of company-specific historical implied volatility data, the Company has based its computations of expected volatility on the historical volatility of a representative group of public companies with similar characteristics of the Company, including stage of development and industry focus. The historical volatility is calculated based on a period of time commensurate with the expected term assumption. The Company generally uses the simplified method as prescribed by the SEC Staff Accounting Bulletin Topic 14, Share-Based Payment, to estimate the expected term for stock options, whereby, the expected term equals the midpoint of the weighted average remaining time to vest, vesting period and the contractual term of the options due to its lack of historical exercise data. For certain options granted out-of-the-money, the Company’s best estimate of the expected term is the contractual term of the award. The risk-free interest rate is based on U.S. Treasury securities with a maturity date commensurate with the expected term of the associated award. The expected dividend yield is assumed to be zero as the Company has never paid dividends and has no current plans to pay any dividends on its common stock. The assumptions used in calculating the fair value of share-based awards represent management’s best estimates and involve inherent uncertainties and the application of significant judgment. Compensation expense for restricted stock units (“RSUs”) with only service-based vesting conditions is recognized on a straight-line basis over the vesting period. Compensation cost for service-based RSUs is based on the grant date fair value of the award, which is the closing market price of the Company’s common stock on the grant date multiplied by the number of shares awarded. For awards that vest upon a liquidity event or a change in control, the performance condition is not probable of being achieved until the event occurs. As a result, no compensation expense is recognized until the performance-based vesting condition is achieved, at which time the cumulative compensation expense is recognized. Compensation cost related to any remaining time-based service for share-based awards after the liquidity-based event is recognized on a straight-line basis over the remaining service period. For fully vested, nonforfeitable equity instruments that are granted at the date the Company and a nonemployee enter into an agreement for goods or services, the Company recognizes the fair value of the equity instruments on the grant date. The corresponding cost is recognized as an immediate expense or a prepaid asset and expensed over the service period depending on the specific facts and circumstances of the agreement with the nonemployee. See Note 10 for further details.

Net Loss per Common Share Net Loss per Common Share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding during each period. The Company includes pre-funded warrants, which carry a nominal exercise price per share, in its computation of basic and diluted net loss per share beginning on the date of issuance. The cumulative dividends accrued on the Series A Preferred Stock during the period are reflected as an addition to net loss or a reduction of net income in determining basic and diluted net loss attributable to common stockholders. As the Company reported a net loss for all periods presented, the calculation of diluted net loss per common share is the same as basic net loss per common share. As a result of the Reverse Stock Splits, which were effective as of August 12, 2024 at a ratio of 1:12 and February 24, 2025 at a ratio of 1:5, all shares of outstanding common stock and net loss per common share calculations have been retroactively adjusted for all periods presented.

1:12

1:5

Related Parties Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal with if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests.

Subsequent Events The Company considers events or transactions that occur after the balance sheet date, but prior to the issuance of the financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated through August 13, 2025, which is the date the financial statements were issued. See Note 12.

Recently Adopted and Issued Accounting Pronouncements From time to time, the FASB issues Accounting Standards Updates (“ASU”) to amend the authoritative literature in the ASC. The Company regularly evaluates new ASUs to determine the impact that these pronouncements may have on the consolidated condensed financial statements. Other than the pronouncements listed below, the Company believes that those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, or (iii) are not applicable to the Company’s consolidated condensed financial statements or related disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”) which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses and segment profit or loss. ASU 2023-07 also requires entities with a single reportable segment to provide all segment disclosures under ASC 280, including the new required disclosures under the ASU. The Company adopted ASU 2023-07 on a retrospective basis for the 2024 annual period, and for interim periods beginning in 2025. The impact is limited to the Company’s financial statement disclosures, which are presented in the Segment Information section above. In December 2023, the FASB issued ASU 2023-09, Income Taxes (ASC 740): Improvements to Income Tax Disclosures (“ASU 2023-09”) which requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact that ASU 2023-09 will have on its financial statement disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which applies to all public business entities that file financial statements with the SEC. The amendments in this ASU require public business entities to disclose on an annual and interim basis, disaggregated information about certain income statement expense line items. The new standard is effective for fiscal years beginning after December 15, 2026, with early adoption permitted. The Company is currently evaluating the impact that ASU 2024-03 will have on its financial statement disclosures.

3. INVENTORY Inventory consists of the following major classes: <div style="-aw-sdt-tag:'c3ad763587e21d5ec175'; -aw-sdt-title:'INVENTORY T1'"><table cellpadding="0" cellspacing="0" style="width:100%; margin-right:auto; margin-left:auto; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; padding-right:5.75pt; padding-left:5.75pt; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_8c78ee49c91e44ce918f2ebd1b7927a2'">June 30, 2025</div></td><td style="width:1%; vertical-align:middle"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_eb198c15a0e04e4e8352b8854a5daadc'">December 31, 2024</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9f6e148ddfbd43bd85c0bd773b3ebd5b'">Raw Material (API)</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_00a19566ed1c43f99c98897b148d8d2a'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f16c7a3406eb4165a5632f4b2432cc52'">345,195</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_97a890fb4676459799df39011e8dd53c'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_ab71897d07ac40d28dfd83405a9dfafe'">-</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_aeef74c84e0f4d1f96536ddc357d7064'">Work in Process</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:10%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6a3655bdab5d48dd86ca61227681b415'">246,031</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:10%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ef00ca8ecef947d48a2392dce651f727'">284,883</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d5d56b1ac61047c8bb2cd738f043bffa'">Finished Goods</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5b0903d97dea4325b613f810a8c5eaf2'">208,195</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_36ca9b2fc2674b1b9e7c5ee6ac7b2cc2'">157,881</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_73dc86a2354c42c5af659415f686502c'">Inventory</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_18ec2a0d235e48ca8dccc53077caf073'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_352a37dac1dc493db25e225319ba1514'">799,421</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_14f157594d2f42b2a8d7ac54924f20bb'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_060c2262275a4e14b43b0ebc949632e0'">442,764</div></td></tr></tbody></table></div> The Company regularly monitors its inventory levels to identify inventory that may expire or has a cost basis in excess of its estimated net realizable value, and records write-downs for inventory that has expired, inventory that has a cost basis in excess of its expected net realizable value, and inventory in excess of expected sales requirements. Any write-downs of inventories are charged to cost of revenues in the consolidated condensed statements of operations and comprehensive loss. During the three and six months ended June 30, 2025, write downs for expired inventory were none and $35 ($16,684 and $17,325 for the three and six months ended June 30, 2024).

Inventory consists of the following major classes: <div style="-aw-sdt-tag:'c3ad763587e21d5ec175'; -aw-sdt-title:'INVENTORY T1'"><table cellpadding="0" cellspacing="0" style="width:100%; margin-right:auto; margin-left:auto; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; padding-right:5.75pt; padding-left:5.75pt; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_8c78ee49c91e44ce918f2ebd1b7927a2'">June 30, 2025</div></td><td style="width:1%; vertical-align:middle"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_eb198c15a0e04e4e8352b8854a5daadc'">December 31, 2024</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9f6e148ddfbd43bd85c0bd773b3ebd5b'">Raw Material (API)</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_00a19566ed1c43f99c98897b148d8d2a'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f16c7a3406eb4165a5632f4b2432cc52'">345,195</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_97a890fb4676459799df39011e8dd53c'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-tag:'C_ab71897d07ac40d28dfd83405a9dfafe'">-</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_aeef74c84e0f4d1f96536ddc357d7064'">Work in Process</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:10%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6a3655bdab5d48dd86ca61227681b415'">246,031</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:10%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ef00ca8ecef947d48a2392dce651f727'">284,883</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d5d56b1ac61047c8bb2cd738f043bffa'">Finished Goods</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5b0903d97dea4325b613f810a8c5eaf2'">208,195</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_36ca9b2fc2674b1b9e7c5ee6ac7b2cc2'">157,881</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_73dc86a2354c42c5af659415f686502c'">Inventory</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_18ec2a0d235e48ca8dccc53077caf073'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_352a37dac1dc493db25e225319ba1514'">799,421</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_14f157594d2f42b2a8d7ac54924f20bb'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_060c2262275a4e14b43b0ebc949632e0'">442,764</div></td></tr></tbody></table></div>

345195

246031

284883

208195

157881

799421

442764

16684

17325

4. PROPERTY AND EQUIPMENT Property and Equipment, net consists of: <div style="-aw-sdt-tag:'c585e2b6503490e35b6e'; -aw-sdt-title:'PROPERTY AND EQUIPMENT T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; padding-right:5.75pt; padding-left:5.75pt; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d243be9044f94e5789d1c03995fef724'">June 30, 2025</div></td><td style="width:1%; vertical-align:middle"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_cdf2c2bb81134c98a67579ef3ca9e8ac'">December 31, 2024</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_210216e127fe482781b410d7ec74a0b8'">Lab Equipment</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_53af035c51d0478aa394754c413e6ffb'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9328eadfcc594ac596b0acc136f7b8f0'">286,911</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e940a18328bb4ad9bea7def38d0d559f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2329b86c972f422ba404be9dd3277495'">233,411</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0319c462920c42afa0d3176c000bd9f7'">Machinery</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ef8d24443e6e4e8cb5980f37db5e774c'">55,800</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c8ff641cd4744c44a8ca4ea45f4e85c8'">55,800</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6249934fa3de4adaa792e486a851badc'">Computer Equipment</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:10%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_aca3f556efe04148b984c56098021a99'">11,598</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:10%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a531e0c254db4110ad34d073164553f9'">7,000</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_aebc173cb2c8413fa5fcf35341f8657a'">Furniture</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b504fb680d844731bb0cd3fabd739eac'">3,030</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6e01e63464c941e29d2034653b8107e5'">3,030</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_8a33d8c7b8f447cf9991bc44f6e506d2'">Property and Equipment, at cost</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7e9128e9f9104afc873f970c6a9135ce'">357,339</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0083050d4387424b9262c3e3b6a9fee5'">299,241</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b6b62697f29548dbaf51d4cf72f0c5f7'">Accumulated Depreciation</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff">(163,460)</td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff">(149,433)</td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_11c099461546454a8d4b17afa85db567'">Property and Equipment, net</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e7ec042f6b194d6a858be22c9a1b091a'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2faa5c0453e4450596c4956cffc1df1e'">193,879</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_05cfb6f1de00493d99ff10680b286a1a'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_519d7c2bff0c454799f8e791a58c7103'">149,808</div></td></tr></tbody></table></div> Lab Equipment of $10,000 has not yet been placed into service and therefore depreciation has not commenced as of June 30, 2025. Depreciation expense for the three months ended June 30, 2025 and 2024 was in the amount of $9,236 and $1,536, respectively ($15,930 and $1,943 for the six months ended June 30, 2025 and 2024, respectively).

Property and Equipment, net consists of: <div style="-aw-sdt-tag:'c585e2b6503490e35b6e'; -aw-sdt-title:'PROPERTY AND EQUIPMENT T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; padding-right:5.75pt; padding-left:5.75pt; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d243be9044f94e5789d1c03995fef724'">June 30, 2025</div></td><td style="width:1%; vertical-align:middle"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_cdf2c2bb81134c98a67579ef3ca9e8ac'">December 31, 2024</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_210216e127fe482781b410d7ec74a0b8'">Lab Equipment</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_53af035c51d0478aa394754c413e6ffb'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9328eadfcc594ac596b0acc136f7b8f0'">286,911</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e940a18328bb4ad9bea7def38d0d559f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2329b86c972f422ba404be9dd3277495'">233,411</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0319c462920c42afa0d3176c000bd9f7'">Machinery</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ef8d24443e6e4e8cb5980f37db5e774c'">55,800</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c8ff641cd4744c44a8ca4ea45f4e85c8'">55,800</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6249934fa3de4adaa792e486a851badc'">Computer Equipment</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:10%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_aca3f556efe04148b984c56098021a99'">11,598</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:10%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a531e0c254db4110ad34d073164553f9'">7,000</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_aebc173cb2c8413fa5fcf35341f8657a'">Furniture</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b504fb680d844731bb0cd3fabd739eac'">3,030</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6e01e63464c941e29d2034653b8107e5'">3,030</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_8a33d8c7b8f447cf9991bc44f6e506d2'">Property and Equipment, at cost</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7e9128e9f9104afc873f970c6a9135ce'">357,339</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0083050d4387424b9262c3e3b6a9fee5'">299,241</div></td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b6b62697f29548dbaf51d4cf72f0c5f7'">Accumulated Depreciation</div></td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff">(163,460)</td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff">(149,433)</td></tr><tr style="height:11.5pt"><td style="width:77%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_11c099461546454a8d4b17afa85db567'">Property and Equipment, net</div></td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e7ec042f6b194d6a858be22c9a1b091a'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2faa5c0453e4450596c4956cffc1df1e'">193,879</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_05cfb6f1de00493d99ff10680b286a1a'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_519d7c2bff0c454799f8e791a58c7103'">149,808</div></td></tr></tbody></table></div>

286911

233411

55800

11598

7000

3030

357339

299241

163460

149433

193879

149808

10000

9236

1536

15930

1943

5. INTANGIBLE ASSETS Intangible Assets, net consists of: <div style="-aw-sdt-tag:'c07707b83cb3f173b9aa'; -aw-sdt-title:'INTANGIBLE ASSETS T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:76%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; padding-right:5.75pt; padding-left:5.75pt; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e87ec5587e3840c4a97f2064f2104ed4'">June 30, 2025</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6084f1e1489b48879fcbbe5600141f97'">December 31, 2024</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a974f35cc65443269ff066743129189d'">Patents</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d202bcb88b044d028a4bbb28f6a6e8b0'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_11b78614bac54ef0a49e4b893a15b1d0'">134,768</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_51a78629619a4b75ba95f8f8f4f7ec7b'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_860e11faa60f4e3cb17c35e447e6d321'">127,603</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f612ea6912ea4de8936ab11fa94001b2'">Website Development Costs</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bd5beeeb98654d3cb378b1f150cf237e'">104,622</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0297394f2e174985a9011e14c17a1c32'">104,622</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_69283753d7194d8481cb58344618da62'">Intangible Assets, at cost</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_67428270244741e190f4ba5b6f6c89a4'">239,390</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ce68356243274a62b8341406f23e7284'">232,225</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5ec84ad9cbbb4a728206c96fd6d9a6ac'">Accumulated Amortization</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle">(95,686)</td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle">(75,141)</td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_609bae755e8b4231bb1d4b943acee2ff'">Intangible Assets, net</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bbacba70555c4d44a3ed2b95ac3cb5f3'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2fda802cc17945c78daa21dc34cb0e8e'">143,704</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0f46f04104944ac794c1fcc3501b0184'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_01b52cfeb567443aae2cc897f6e6903c'">157,084</div></td></tr></tbody></table></div> <div style="-aw-sdt-tag:'PG_99f77b92c4ca7ba3'"></div>During the three months ended June 30, 2025 and 2024, the Company capitalized website development related costs of $0 and $12,987, respectively, in connection with the upgrade and enhancement of functionality of the corporate website at www.60degreespharma.com ($0 and $22,075 for the six months ended June 30, 2025 and 2024, respectively). Amortization expense for the three months ended June 30, 2025 and 2024, was in the amount of $10,442 and $9,472, respectively ($20,545 and $17,679 for the six months ended June 30, 2025 and 2024, respectively). During the three months ended June 30, 2025 and 2024 there were no write-downs for expired or obsolete patents ($0 and $8,378 for the six months ended June 30, 2025 and 2024, respectively). The following table summarizes the estimated future amortization expense for our patents and website development costs as of June 30, 2025: <div style="-aw-sdt-tag:'c0f2fdd191b23a42f69c'; -aw-sdt-title:'INTANGIBLE ASSETS T2'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:76%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_174dcc19aadc45dcbec245e8e5590546'">Period</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2b4fd151a35e427f81944ed4aef3cd03'">Patents</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_eac02702a1b6481292e04477eabff1f5'">Website Development Costs</div></td></tr><tr style="height:11.5pt"><td style="width:76%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bed21abb624848b39d25a0e5198a3eea'">2025 (remaining six months)</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0628bafa871b46b6b23c7839bac84a2b'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; padding-right:0.7pt; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9ed72b1fc9a841678c6414ffa9250716'">3,450</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9971da9e37cf45c6965a560295ce2ee3'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b86b8d6612d346b299a1f4e8b716937d'">14,324</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_98ee970e69c748c69cc8bbd0ed8e7995'">2026</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:10%; padding-right:0.7pt; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_29d81502a5fc40d6b3b22b749ae8c2cc'">6,899</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:10%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d2022197ea7e432dad2b843e2cba5634'">12,432</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4130c067c39a40829ddaa2a81e97ae4b'">2027</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; padding-right:0.7pt; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4d3a475d713840deb210ba44e18e1f33'">6,899</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5fd36d2d7338473a98e0eaca4c3bb72e'">3,094</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_313ade7de15848e1805861fa9d495eb2'">2028</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:10%; padding-right:0.7pt; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9a518cad7b5f4600b17899e4df170f7e'">6,899</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:10%; vertical-align:middle"><div style="-aw-sdt-tag:'C_ba37da8a5d21434286c58831bdac112f'">-</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_faf1ce39ee004fdbacf45816b0cd8e1b'">2029</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; padding-right:0.7pt; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1dbfcb6bede14893b1d590e5550007a7'">6,899</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_4124ac0cb341498b8445cea7bd35d757'">-</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a93ca8f84d704c2685aef38dd6e616fb'">Thereafter</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; padding-right:0.7pt; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6321783027ee42c18b71f36dd0941a2f'">36,427</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_257cb67d346b4113ac890add634412f6'">-</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d7c76dd6b9cc422d8a6b884dacaa3365'">Total</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_75767eb28a1d449ab596ff84732f7256'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; padding-right:0.7pt; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2ee72c55a7204d64a57ac09c73611a03'">67,473</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6779a62c90a14cb8b35f588ce92d9296'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'597-52e-8a9-62c-6878'">29,850</div></td></tr></tbody></table></div> The Company has recorded $46,381 in capitalized patent expenses that will become amortizable as the patents they are associated with are awarded.

Intangible Assets, net consists of: <div style="-aw-sdt-tag:'c07707b83cb3f173b9aa'; -aw-sdt-title:'INTANGIBLE ASSETS T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:76%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; padding-right:5.75pt; padding-left:5.75pt; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e87ec5587e3840c4a97f2064f2104ed4'">June 30, 2025</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6084f1e1489b48879fcbbe5600141f97'">December 31, 2024</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a974f35cc65443269ff066743129189d'">Patents</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d202bcb88b044d028a4bbb28f6a6e8b0'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_11b78614bac54ef0a49e4b893a15b1d0'">134,768</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_51a78629619a4b75ba95f8f8f4f7ec7b'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_860e11faa60f4e3cb17c35e447e6d321'">127,603</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f612ea6912ea4de8936ab11fa94001b2'">Website Development Costs</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bd5beeeb98654d3cb378b1f150cf237e'">104,622</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0297394f2e174985a9011e14c17a1c32'">104,622</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_69283753d7194d8481cb58344618da62'">Intangible Assets, at cost</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_67428270244741e190f4ba5b6f6c89a4'">239,390</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ce68356243274a62b8341406f23e7284'">232,225</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5ec84ad9cbbb4a728206c96fd6d9a6ac'">Accumulated Amortization</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle">(95,686)</td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle">(75,141)</td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_609bae755e8b4231bb1d4b943acee2ff'">Intangible Assets, net</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bbacba70555c4d44a3ed2b95ac3cb5f3'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2fda802cc17945c78daa21dc34cb0e8e'">143,704</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0f46f04104944ac794c1fcc3501b0184'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_01b52cfeb567443aae2cc897f6e6903c'">157,084</div></td></tr></tbody></table></div>

134768

127603

104622 104622

239390

232225

95686

75141

143704

157084

0 12987 0 22075

10442

9472

20545

17679

8378

The following table summarizes the estimated future amortization expense for our patents and website development costs as of June 30, 2025: <div style="-aw-sdt-tag:'c0f2fdd191b23a42f69c'; -aw-sdt-title:'INTANGIBLE ASSETS T2'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:76%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_174dcc19aadc45dcbec245e8e5590546'">Period</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2b4fd151a35e427f81944ed4aef3cd03'">Patents</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_eac02702a1b6481292e04477eabff1f5'">Website Development Costs</div></td></tr><tr style="height:11.5pt"><td style="width:76%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bed21abb624848b39d25a0e5198a3eea'">2025 (remaining six months)</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0628bafa871b46b6b23c7839bac84a2b'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; padding-right:0.7pt; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9ed72b1fc9a841678c6414ffa9250716'">3,450</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9971da9e37cf45c6965a560295ce2ee3'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b86b8d6612d346b299a1f4e8b716937d'">14,324</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_98ee970e69c748c69cc8bbd0ed8e7995'">2026</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:10%; padding-right:0.7pt; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_29d81502a5fc40d6b3b22b749ae8c2cc'">6,899</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:10%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d2022197ea7e432dad2b843e2cba5634'">12,432</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4130c067c39a40829ddaa2a81e97ae4b'">2027</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; padding-right:0.7pt; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4d3a475d713840deb210ba44e18e1f33'">6,899</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5fd36d2d7338473a98e0eaca4c3bb72e'">3,094</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_313ade7de15848e1805861fa9d495eb2'">2028</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:10%; padding-right:0.7pt; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9a518cad7b5f4600b17899e4df170f7e'">6,899</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; vertical-align:middle"> </td><td style="width:10%; vertical-align:middle"><div style="-aw-sdt-tag:'C_ba37da8a5d21434286c58831bdac112f'">-</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_faf1ce39ee004fdbacf45816b0cd8e1b'">2029</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; padding-right:0.7pt; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1dbfcb6bede14893b1d590e5550007a7'">6,899</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_4124ac0cb341498b8445cea7bd35d757'">-</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a93ca8f84d704c2685aef38dd6e616fb'">Thereafter</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; padding-right:0.7pt; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6321783027ee42c18b71f36dd0941a2f'">36,427</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-tag:'C_257cb67d346b4113ac890add634412f6'">-</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d7c76dd6b9cc422d8a6b884dacaa3365'">Total</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_75767eb28a1d449ab596ff84732f7256'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; padding-right:0.7pt; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2ee72c55a7204d64a57ac09c73611a03'">67,473</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6779a62c90a14cb8b35f588ce92d9296'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'597-52e-8a9-62c-6878'">29,850</div></td></tr></tbody></table></div>

3450

14324

6899

12432

6899

3094

6899

36427

67473

29850

46381

6. STOCKHOLDERS’ EQUITY Pursuant to the Certificate of Incorporation of 60 Degrees Pharmaceuticals, Inc., the Company’s authorized shares consist of (a) 150,000,000 shares of common stock, par value $0.0001 per share and (b) 1,000,000 shares of preferred stock, par value $0.0001 per share, of which 80,965 have been designated as Series A Non-Voting Convertible Preferred Stock (“Series A Preferred Stock”). As of June 30, 2025, 1,472,891 shares of Common Stock and 76,480 shares of Series A Preferred Stock are issued and outstanding. Following stockholder approval in July 2024, on July 30, 2024, the Company filed an Amendment to the Certificate of Incorporation with the Secretary of State of Delaware to effect the 1:12 Reverse Stock Split of the issued and outstanding shares of the Company’s common stock, which was effective as of August 12, 2024. As of the effective time of the 1:12 Reverse Stock Split, every twelve (12) issued and outstanding shares of the Company’s common stock were automatically combined and converted into one (1) issued and outstanding share of the Company’s common stock. Following stockholder approval in November 2024, on February 18, 2025, the Company filed an additional Amendment to the Certificate of Incorporation with the Secretary of State of Delaware to effect the 1:5 Reverse Stock Split of the issued and outstanding shares of the Company’s common stock, which was effective as of February 24, 2025. As of the effective time of the 1:5 Reverse Stock Split, every five (5) issued and outstanding shares of the Company’s common stock were automatically combined and converted into one (1) issued and outstanding share of the Company’s common stock. No fractional shares of common stock were issued in connection with the Reverse Stock Splits. All fractional shares were rounded up to the nearest whole share with respect to outstanding shares of common stock. The Reverse Stock Splits did not change the authorized number of shares of common stock or preferred stock, the par value of the common stock, or the number of issued and outstanding shares of Series A Preferred Stock. All references to numbers of shares of the Company’s common stock and per share information in these consolidated condensed financial statements have been retroactively adjusted, as appropriate, to reflect the Reverse Stock Splits, including reclassifying an amount equal to the reduction in par value of common stock to additional paid-in capital. <div style="-aw-sdt-tag:'PG_c73945946e320e8245c1'"></div>Common Stock January 2025 Offering On January 28, 2025, the Company entered into a securities purchase agreement with certain institutional investors pursuant to which the Company sold, in a registered direct offering priced at-the-market under the rules of Nasdaq, an aggregate of 204,312 shares of common stock at a purchase price of $5.105 per share. The shares were offered pursuant to a “shelf” registration statement on Form S-3 (Registration No. 333-280796). In a concurrent private placement, the Company also issued to the investors unregistered warrants (the “January 2025 Warrants”) to purchase up to an aggregate of 408,621 shares of common stock at an exercise price of $3.855 per share. The January 2025 Warrants are exercisable upon issuance, or January 30, 2025, and expire twenty-four months from the date of issuance, or January 30, 2027. The registered direct offering and concurrent private placement (together, the “January 2025 Offering”) closed on January 30, 2025, resulting in net proceeds to the Company of approximately $804,346, after deducting the placement agent fees and other offering expenses paid by the Company. As compensation for acting as the placement agent for the January 2025 Offering, in addition to certain cash fees, the Company issued H.C. Wainwright & Co., LLC (the “Placement Agent”) warrants to purchase up to 15,325 shares of common stock at an exercise price of $6.382 (the “January 2025 Agent Warrants”). The January 2025 Agent Warrants were exercisable upon issuance and expire twenty-four months from the date of issuance. February 2025 Offering On February 5, 2025, the Company entered into a securities purchase agreement with certain institutional investors pursuant to which the Company sold, in a registered direct offering priced at-the-market under the rules of Nasdaq, an aggregate of 300,700 shares of the Company’s common stock at a purchase price of $3.575 per share. In a concurrent private placement, the Company separately issued to the investors unregistered warrants to purchase up to an aggregate of 300,700 shares of common stock at an exercise price of $2.95 per share (the “February 2025 Warrants”). The February 2025 Warrants were immediately exercisable upon issuance and expire twenty-four months from the date of issuance. The registered direct offering and concurrent private placement (together, the “February 2025 Offering”) closed on February 6, 2025, resulting in net proceeds to the Company of approximately $908,627, after deducting the placement agent fees and other offering expenses paid by the Company. As compensation for acting as the placement agent for the February 2025 Offering, in addition to certain cash fees, the Company issued the Placement Agent warrants to purchase up to 22,554 shares of common stock at an exercise price of $4.469 (the “February 2025 Agent Warrants”). The February 2025 Agent Warrants were exercisable upon issuance and expire twenty-four months from the date of issuance. January 2024 Offering On January 29, 2024, the Company closed its public offering (the “January 2024 Offering”) consisting of (i) 87,682 units consisting of one share of common stock and one warrant exercisable for one share of common stock (the “January 2024 Warrants”), and (ii) 16,652 pre-funded units consisting of one pre-funded warrant exercisable for one share of common stock (the “January 2024 Pre-Funded Warrants”) and one warrant identical to the January 2024 Warrants included in the units. The January 2024 Pre-Funded Warrants have an exercise price of $0.60 per share and were immediately exercisable until exercised in full. The January 2024 Warrants have an exercise price of $25.41 per share, were immediately exercisable upon issuance, and expire on January 31, 2029. The January 2024 Offering closed on January 31, 2024, generating net proceeds to the Company of approximately $1.9 million, after deducting underwriting discounts and commissions and the payment of other offering expenses payable by the Company of approximately $510,000. The Company granted WallachBeth Capital LLC a 45-day over-allotment option to purchase additional shares of common stock, additional January 2024 Warrants, or additional January 2024 Pre-Funded Warrants, or any combination thereof. WallachBeth Capital LLC partially exercised its over-allotment option with respect to 13,637 January 2024 Warrants on January 31, 2024, and an additional one share of common stock and one January 2024 Warrant on February 14, 2024. The Company also issued to WallachBeth Capital LLC warrants (the “January 2024 Representative Warrants”) to purchase 6,260 shares of the Company’s common stock at an exercise price of $25.41 per share. The January 2024 Representative Warrants were immediately exercisable beginning on January 31, 2024 until January 31, 2029. Trevally Amendment On April 1, 2024, the Company entered into an Amendment to the Debt Exchange Agreement with Trevally, LLC (“Trevally”), which amends the original agreement with Trevally (executed in January 2023). Pursuant to the Amendment, Trevally agreed to return 2,000 shares of the Company’s common stock, initially issued to Trevally in January 2023 as advance consideration for agreeing to complete the synthesis of research materials for the Company. Trevally returned the previously issued shares for no consideration on April 3, 2024. Trevally delivered the completed research materials to the Company on July 1, 2024. <div style="-aw-sdt-tag:'PG_c683f2b19b3c59421e12'"></div>Warrant Exercises During the six months ended June 30, 2025, the Company issued 385,200 shares of common stock upon the exercise of 385,200 pre-funded warrants issued in September 2024, resulting in proceeds to the Company of $1,926. During the six months ended June 30, 2024, the Company issued 16,652 shares of common stock upon the exercise of 16,652 January 2024 Pre-Funded Warrants, resulting in proceeds to the Company of $9,990. Common Stock Warrants As of June 30, 2025, the Company accounts for all issued and outstanding warrants to purchase common stock as equity-classified instruments based on the guidance in ASC 480 and ASC 815. The following table presents a summary of the activity for the Company’s equity-classified warrants during the three and six months ended June 30, 2025: <div style="-aw-sdt-tag:'c03fb2d1c9552e699f9f'; -aw-sdt-title:'STOCKHOLDERS EQUITY T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:51pt"><td style="width:64%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_255042d0e6a541a388b409c03b69aa6a'">Number of Warrants</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1d3baab02d8c401b900003c44b2c7c3f'">Weighted Average Exercise Price</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d9d36dc13cae43cf8b651c83ff0751cb'">Weighted Average Remaining Contractual Life (Years)</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0df67d8471e9467a89ff88e0439581e5'">Total outstanding, December 31, 2024(1)</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_cfd86fffd9a24a8681860699bbc5835a'">1,765,070</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_018f691c6c554fcd9f2ea902cef36ea6'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_401143ee48e043d3b3536cd6cdf9c432'">17.59</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b26821ca78ac44ef92c209c2bc9c966d'">3.26</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_56484066bcc74bf8b3793fd9b87e4059'">Granted</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1e370c5c9b7142789405b4714e344dcf'">747,200</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_49bb5b90dc4242be96236f035345724d'">3.56</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a636cf72eae548238b35fe47161c70e0'">2.00</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_092740af605f4bc4a7ada8bdf5055958'">Exercised</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff">(385,200)</td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9014c8bd62e048859509a2426149ef61'">0.01</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_99814e762c194b82bf77fe18e9120666'"> Indefinite</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_96b027d191d3489eb4634d84c32b33bb'">Forfeited</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_ebc58888ed7e443eb0bed3fbb4e296cd'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_1cbf9c8fae99456bb1db09f419f10e3b'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_023e956011684a2e8efc0a2c95e7aafa'">-</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_3a9cd327c03648eabee6def9efeb8a16'">Expired</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1b9506549baa4d28b730114acf607f9d'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ceb7f15a6ff64d289ae12ddbd0b82690'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_28fd827460b74eed914d939d69a18b99'">-</div></td></tr><tr style="height:8.4pt"><td style="width:64%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_940a2249f6b3409bbd4cf1fd3bfef304'">Total outstanding, March 31, 2025</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_dc623020fea849eba11ebc4bfb2db46b'">2,127,070</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4a782ea234b64abda040b2705b8054db'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6c6bbe87d4d04a50ba3802b29e13ca71'">15.85</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_13fb13eaf08b49a2b57074280816ad0b'">2.60</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ea5e3e245b884185986e713469cfdfa7'">Granted</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_57e1c8a9723f46f5b83a7dc55783fee9'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_243d18f890714f9fa13c4b72d28af692'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_f31c5abd07e34d559789feb6be7b30a9'">-</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5f1d9b909eb24eac860bae5956db20ff'">Exercised</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_c4963ba6c9714c2b848973d90745bbe7'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_00ce71b2c5d1489abe5ef8882e6eb43b'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_87370543a6f5422cb31f728fb2213f65'">-</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_de6f15e3ec76429fb39fe3cc06dcd0b4'">Forfeited</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1226676f1bf44f8197d4965d8019abfa'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_38dc8b6b23e14f2fb10ac0aab43b0957'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_71849749deae49b1affc3ffaa76a7bf6'">-</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_8cdb6926b5124838a53f846006ffe4d5'">Expired</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_85eba8ce16524c9c992ae58a76b43a52'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_3fa373d813a84ebaac3667eead34d3c5'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_b9f06ff4ca7a45779ddab62a866d8364'">-</div></td></tr><tr style="height:13.5pt"><td style="width:64%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c764316e0a5941d382adb9acefbbf02d'">Total outstanding, June 30, 2025</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bd4af9854bee45f4a6e8551c9ffeab14'">2,127,070</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_06b30492d24443dea9f922ac7c5991eb'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_dd5b51e6504c4fe485896034c4ab5aaf'">15.85</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_8c4c3f1235014bbd826251d11d481ada'">2.35</div></td></tr><tr style="height:13.5pt"><td style="width:64%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'97e-4f9-dc8-b53-13e2'">Total exercisable, June 30, 2025</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a4e491fa1e424bc7b5e2e801393d1e3a'">2,127,070</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_da52aa9aef8f4fd69c5e0e306e2a7b25'">$</div></td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4fe71bd8411142e697dea86a0b149b0e'">15.85</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'22b-870-302-06c-1381'">2.35</div></td></tr></tbody></table></div> <table cellpadding="0" cellspacing="0" style="width:100%"><tbody><tr><td style="width:18pt; vertical-align:top">(1)</td><td style="vertical-align:top">Weighted average remaining contractual life at December 31, 2024 excludes 385,200 Pre-Funded Warrants issued September 2024 that do not have a contractual expiration date, for which 0 warrants remain outstanding and exercisable at March 31, 2025 and June 30, 2025.</td></tr></tbody></table> There were no warrants exercised during the three months ended June 30, 2025. During the six months ended June 30, 2025, the Company received aggregate cash proceeds of $1,926 upon the exercise of 385,200 pre-funded warrants with an exercise price of $0.005. The following table presents a summary of the activity for the Company’s equity-classified warrants during the three and six months ended June 30, 2024: <div style="-aw-sdt-tag:'5ef-bd1-660-949-dac4'; -aw-sdt-title:'PYTD Warrant Activity Table'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:66pt"><td style="width:66%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2fe24833a44b41479778dfa15ea39d75'">Number of Warrants</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f18fecd537364a0f93431550cd6beb89'">Weighted Average Exercise Price</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_46e2237dbc934f6b9426112c9d46cff7'">Weighted Average Remaining Contractual Life (Years)</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e3159a48c35a441588285bc5f08adbb5'">Total outstanding, December 31, 2023</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_26c6e8ba5c4f437b898bce96847ea990'">52,737</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7932e86b6155416a856e4b9e3135e6a0'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1e1cfe2fee02428fb18bed385db26f5b'">369.98</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0fdf3faee9384a09b6fb1053d73cd117'">4.47</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d2f19f5220f34a67a6cf0ad536ecceaf'">Granted</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ca72a78fc17a4df2b8b050de41cb1fb2'">140,884</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_03da05c614d4494ab5a425272003c87d'">22.48</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1e23442a8f184d09a6640f316b286c13'">5.00</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5bc3ca100224454db31571d2f7b1902d'">Exercised</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; vertical-align:middle; background-color:#cceeff">(8,326)</td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6653a7d365a745d882b7652b6ee003cf'">0.60</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d11cc3479bef4b49bb34a26fb81a3dab'"> Indefinite</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_036865088ae34687ad76ec0118f6c13a'">Forfeited</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_0b98733a323540198451b82d59cb06fc'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_b095fd6b9be94bbc8c5bffe34783b7e9'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_62e43591234846379c4d980c1b569ce5'">-</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ed4f3a89e25f4188a6c83db8976197d5'">Expired</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e3ce5466c2be49d1857c06466db44631'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_dfdbdd8338f8414d8f83aae99237906a'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_fe44fba7b4ea4e7aa0021a9bccd19da2'">-</div></td></tr><tr style="height:13.8pt"><td style="width:66%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_3d817872bae142abb1bdde9aec1609a3'">Total outstanding, March 31, 2024</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c163a2b7f7f04b69b4d13a118cc458f9'">185,295</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2b8349367e4e49bd8341592d5d525a88'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f13c7faf7831462aab2cb911bc2f0dd6'">122.36</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0005a1e335884fc7ac7b8d95109bce26'">4.67</div></td></tr><tr style="height:13.8pt"><td style="width:66%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_dcc561ad8f5141e9ad4b5045a2890934'">Granted</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_88de1f197d034065b9cd32ef1dcd9706'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_f73d194d7c854624909dcf76b8ba5ce8'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_fb1a4c504f914dc289bb53a1b30080ae'">-</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a977d41b2c174189a08b961656853a60'">Exercised</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff">(8,326)</td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_31638e6c276c4f2fa99250fcb9843150'">0.60</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f5cdcd321c28407aa89715dc54333513'"> Indefinite</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_fa7dd320f8ff4aac96b933a7fbc11384'">Forfeited</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_110cf5dfc8bd4bc080a6b64cb16f3187'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_4a2d3439c11443f6b2da01418ec74397'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_0da9202225b040e19c3d69fa37a95f80'">-</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_59813ff6f1844a788243218269af1e79'">Expired</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_9b5fd3e6aa1b4e4cb21d298ea65de0ea'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_f2ddee167a494c22b7bd797d8ae1c6c2'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_7a4c7af18d3f4f77813081f40c1d117a'">-</div></td></tr><tr style="height:13.8pt"><td style="width:66%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a82321d8724e48d9a9d4e5fea605470a'">Total outstanding, June 30, 2024</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2a6ee883b436439caf9659428ef1344a'">176,969</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_aa95f7f315f940a2a5739ae21aafd495'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_dedfd6de48f64fde8de26755f4cdd4e4'">128.09</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_79c28b5186b7430280974bffea1c6e69'">4.41</div></td></tr><tr style="height:4.05pt"><td style="width:66%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c3fd37a944654a5a88222cf3450f7f42'">Total exercisable, June 30, 2024</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d0158380027e4bcd945e876b3c24d865'">176,969</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a1e84c494a064f318c23f04e6c76de18'">$</div></td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_263cabf8ea9c40eab07f2613a32ab2b8'">128.09</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7353671ddbaf48a7ab7bcb2642e70c9f'">4.41</div></td></tr></tbody></table></div> During the three months ended June 30, 2024, the Company received aggregate cash proceeds of $4,995 upon the exercise of 8,326 Pre-Funded Warrants with an exercise price of $0.60. During the six months ended June 30, 2024, the Company received aggregate cash proceeds of $9,990 upon the exercise of 16,652 Pre-Funded Warrants with an exercise price of $0.60. <div style="-aw-sdt-tag:'PG_c093876e3a43e140a243'"></div>Series A Preferred Stock The holders of shares of Series A Preferred Stock have the rights, preferences, powers, restrictions, and limitations as set forth below. Voting Rights - The holders of shares of Series A Preferred Stock are not entitled to any voting rights. Dividends - From and after the date of issuance of any share of Series A Preferred Stock, cumulative dividends shall accrue, whether or not declared by the Board and whether or not there are funds legally available for the payment of dividends, on a daily basis in arrears at the rate of 6.0% per annum on the sum of the Liquidation Value (as defined below). Accrued dividends shall be paid in cash only when, as and if declared by the Board out of funds legally available therefor or upon a liquidation or redemption of the Series A Preferred Stock. On March 31 of each calendar year, any accrued and unpaid dividends shall accumulate and compound on such date, and are cumulative until paid or converted. Holders of shares of Series A Preferred Stock are entitled to receive accrued and accumulated dividends prior to and in preference to any dividend, distribution, or redemption on shares of Common Stock or any other class of securities that is designated as junior to the Series A Preferred Stock. During the three and six months ended June 30, 2025, dividends in the amount of $126,705 and $244,863 accrued on outstanding shares of Series A Preferred Stock ($117,881 and $235,762 during the three and six months ended June 30, 2024). As of June 30, 2025, cumulative dividends on outstanding shares of Series A Preferred Stock amount to $948,878. To date, the Company has not declared or paid any dividends. Liquidation Rights - In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, the holders of shares of Series A Preferred Stock then outstanding will share ratably in any distribution of the remaining assets and funds of the Company with all other stockholders as if each share of Series A Preferred Stock had been converted by the Company to Common Stock as described below. Conversion Rights - The Company has the right, in its sole discretion, to convert all or any portion of the outstanding shares of Series A Preferred Stock (including any fraction of a share), plus the aggregate accrued or accumulated and unpaid dividends thereon into a number of shares of Common Stock determined by (i) multiplying the number of shares to be converted by $100 per share, as adjusted for any stock splits, stock dividends, recapitalizations or similar transactions with respect to the Series A Preferred Stock (but unchanged as a result of the Reverse Stock Splits impacting the common stock on August 12, 2024 and February 24, 2025) (the “Liquidation Value”), (ii) plus all accrued and accumulated and unpaid dividends on such shares to be converted, and then (ii) dividing the result by the then-effective Conversion Price in effect, provided that such conversion would not result in the holders of shares of Series A Preferred Stock owning more than 19.9% of the outstanding shares of common stock on an as-converted basis. The “Conversion Price” is equal to the lesser of (a) the Liquidation Value, (b) the offering price per share of Common Stock in the Company’s IPO, as adjusted for the 1:12 Reverse Stock Split after August 12, 2024 and the 1:5 Reverse Stock Split after February 24, 2025, or $300 per share, or (c) the 10-day volume weighted average price per share of Common Stock, as reasonably determined by the Company.

150000000

0.0001

1000000

0.0001

80965

1472891

76480

1:12

1:5

204312

5.105

408621

3.855

804346

15325

6.382

300700

3.575

300700

2.95

908627

22554

4.469

87682

16652

0.6

25.41

1900000

510000

P45D

13637

6260

25.41

2000

385200

1926

16652

9990

The following table presents a summary of the activity for the Company’s equity-classified warrants during the three and six months ended June 30, 2025: <div style="-aw-sdt-tag:'c03fb2d1c9552e699f9f'; -aw-sdt-title:'STOCKHOLDERS EQUITY T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:51pt"><td style="width:64%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_255042d0e6a541a388b409c03b69aa6a'">Number of Warrants</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1d3baab02d8c401b900003c44b2c7c3f'">Weighted Average Exercise Price</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d9d36dc13cae43cf8b651c83ff0751cb'">Weighted Average Remaining Contractual Life (Years)</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0df67d8471e9467a89ff88e0439581e5'">Total outstanding, December 31, 2024(1)</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_cfd86fffd9a24a8681860699bbc5835a'">1,765,070</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_018f691c6c554fcd9f2ea902cef36ea6'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_401143ee48e043d3b3536cd6cdf9c432'">17.59</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b26821ca78ac44ef92c209c2bc9c966d'">3.26</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_56484066bcc74bf8b3793fd9b87e4059'">Granted</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1e370c5c9b7142789405b4714e344dcf'">747,200</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_49bb5b90dc4242be96236f035345724d'">3.56</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a636cf72eae548238b35fe47161c70e0'">2.00</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_092740af605f4bc4a7ada8bdf5055958'">Exercised</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff">(385,200)</td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9014c8bd62e048859509a2426149ef61'">0.01</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_99814e762c194b82bf77fe18e9120666'"> Indefinite</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_96b027d191d3489eb4634d84c32b33bb'">Forfeited</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_ebc58888ed7e443eb0bed3fbb4e296cd'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_1cbf9c8fae99456bb1db09f419f10e3b'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_023e956011684a2e8efc0a2c95e7aafa'">-</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_3a9cd327c03648eabee6def9efeb8a16'">Expired</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1b9506549baa4d28b730114acf607f9d'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_ceb7f15a6ff64d289ae12ddbd0b82690'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_28fd827460b74eed914d939d69a18b99'">-</div></td></tr><tr style="height:8.4pt"><td style="width:64%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_940a2249f6b3409bbd4cf1fd3bfef304'">Total outstanding, March 31, 2025</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_dc623020fea849eba11ebc4bfb2db46b'">2,127,070</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4a782ea234b64abda040b2705b8054db'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6c6bbe87d4d04a50ba3802b29e13ca71'">15.85</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_13fb13eaf08b49a2b57074280816ad0b'">2.60</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ea5e3e245b884185986e713469cfdfa7'">Granted</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_57e1c8a9723f46f5b83a7dc55783fee9'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_243d18f890714f9fa13c4b72d28af692'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_f31c5abd07e34d559789feb6be7b30a9'">-</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5f1d9b909eb24eac860bae5956db20ff'">Exercised</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_c4963ba6c9714c2b848973d90745bbe7'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_00ce71b2c5d1489abe5ef8882e6eb43b'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_87370543a6f5422cb31f728fb2213f65'">-</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_de6f15e3ec76429fb39fe3cc06dcd0b4'">Forfeited</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_1226676f1bf44f8197d4965d8019abfa'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_38dc8b6b23e14f2fb10ac0aab43b0957'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_71849749deae49b1affc3ffaa76a7bf6'">-</div></td></tr><tr style="height:12.75pt"><td style="width:64%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_8cdb6926b5124838a53f846006ffe4d5'">Expired</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_85eba8ce16524c9c992ae58a76b43a52'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_3fa373d813a84ebaac3667eead34d3c5'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'C_b9f06ff4ca7a45779ddab62a866d8364'">-</div></td></tr><tr style="height:13.5pt"><td style="width:64%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c764316e0a5941d382adb9acefbbf02d'">Total outstanding, June 30, 2025</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bd4af9854bee45f4a6e8551c9ffeab14'">2,127,070</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_06b30492d24443dea9f922ac7c5991eb'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_dd5b51e6504c4fe485896034c4ab5aaf'">15.85</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_8c4c3f1235014bbd826251d11d481ada'">2.35</div></td></tr><tr style="height:13.5pt"><td style="width:64%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'97e-4f9-dc8-b53-13e2'">Total exercisable, June 30, 2025</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a4e491fa1e424bc7b5e2e801393d1e3a'">2,127,070</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_da52aa9aef8f4fd69c5e0e306e2a7b25'">$</div></td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4fe71bd8411142e697dea86a0b149b0e'">15.85</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-tag:'22b-870-302-06c-1381'">2.35</div></td></tr></tbody></table></div> <table cellpadding="0" cellspacing="0" style="width:100%"><tbody><tr><td style="width:18pt; vertical-align:top">(1)</td><td style="vertical-align:top">Weighted average remaining contractual life at December 31, 2024 excludes 385,200 Pre-Funded Warrants issued September 2024 that do not have a contractual expiration date, for which 0 warrants remain outstanding and exercisable at March 31, 2025 and June 30, 2025.</td></tr></tbody></table> The following table presents a summary of the activity for the Company’s equity-classified warrants during the three and six months ended June 30, 2024: <div style="-aw-sdt-tag:'5ef-bd1-660-949-dac4'; -aw-sdt-title:'PYTD Warrant Activity Table'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:66pt"><td style="width:66%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2fe24833a44b41479778dfa15ea39d75'">Number of Warrants</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f18fecd537364a0f93431550cd6beb89'">Weighted Average Exercise Price</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_46e2237dbc934f6b9426112c9d46cff7'">Weighted Average Remaining Contractual Life (Years)</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e3159a48c35a441588285bc5f08adbb5'">Total outstanding, December 31, 2023</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_26c6e8ba5c4f437b898bce96847ea990'">52,737</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7932e86b6155416a856e4b9e3135e6a0'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1e1cfe2fee02428fb18bed385db26f5b'">369.98</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0fdf3faee9384a09b6fb1053d73cd117'">4.47</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d2f19f5220f34a67a6cf0ad536ecceaf'">Granted</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ca72a78fc17a4df2b8b050de41cb1fb2'">140,884</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_03da05c614d4494ab5a425272003c87d'">22.48</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1e23442a8f184d09a6640f316b286c13'">5.00</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5bc3ca100224454db31571d2f7b1902d'">Exercised</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; vertical-align:middle; background-color:#cceeff">(8,326)</td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6653a7d365a745d882b7652b6ee003cf'">0.60</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d11cc3479bef4b49bb34a26fb81a3dab'"> Indefinite</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_036865088ae34687ad76ec0118f6c13a'">Forfeited</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_0b98733a323540198451b82d59cb06fc'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_b095fd6b9be94bbc8c5bffe34783b7e9'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_62e43591234846379c4d980c1b569ce5'">-</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ed4f3a89e25f4188a6c83db8976197d5'">Expired</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_e3ce5466c2be49d1857c06466db44631'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_dfdbdd8338f8414d8f83aae99237906a'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_fe44fba7b4ea4e7aa0021a9bccd19da2'">-</div></td></tr><tr style="height:13.8pt"><td style="width:66%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_3d817872bae142abb1bdde9aec1609a3'">Total outstanding, March 31, 2024</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c163a2b7f7f04b69b4d13a118cc458f9'">185,295</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2b8349367e4e49bd8341592d5d525a88'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f13c7faf7831462aab2cb911bc2f0dd6'">122.36</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0005a1e335884fc7ac7b8d95109bce26'">4.67</div></td></tr><tr style="height:13.8pt"><td style="width:66%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_dcc561ad8f5141e9ad4b5045a2890934'">Granted</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_88de1f197d034065b9cd32ef1dcd9706'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_f73d194d7c854624909dcf76b8ba5ce8'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_fb1a4c504f914dc289bb53a1b30080ae'">-</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a977d41b2c174189a08b961656853a60'">Exercised</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff">(8,326)</td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_31638e6c276c4f2fa99250fcb9843150'">0.60</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f5cdcd321c28407aa89715dc54333513'"> Indefinite</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_fa7dd320f8ff4aac96b933a7fbc11384'">Forfeited</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_110cf5dfc8bd4bc080a6b64cb16f3187'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_4a2d3439c11443f6b2da01418ec74397'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-tag:'C_0da9202225b040e19c3d69fa37a95f80'">-</div></td></tr><tr style="height:13.2pt"><td style="width:66%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_59813ff6f1844a788243218269af1e79'">Expired</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_9b5fd3e6aa1b4e4cb21d298ea65de0ea'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_f2ddee167a494c22b7bd797d8ae1c6c2'">-</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-tag:'C_7a4c7af18d3f4f77813081f40c1d117a'">-</div></td></tr><tr style="height:13.8pt"><td style="width:66%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a82321d8724e48d9a9d4e5fea605470a'">Total outstanding, June 30, 2024</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2a6ee883b436439caf9659428ef1344a'">176,969</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_aa95f7f315f940a2a5739ae21aafd495'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_dedfd6de48f64fde8de26755f4cdd4e4'">128.09</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_79c28b5186b7430280974bffea1c6e69'">4.41</div></td></tr><tr style="height:4.05pt"><td style="width:66%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c3fd37a944654a5a88222cf3450f7f42'">Total exercisable, June 30, 2024</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d0158380027e4bcd945e876b3c24d865'">176,969</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a1e84c494a064f318c23f04e6c76de18'">$</div></td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_263cabf8ea9c40eab07f2613a32ab2b8'">128.09</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-top:4.5pt double #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7353671ddbaf48a7ab7bcb2642e70c9f'">4.41</div></td></tr></tbody></table></div>

1765070

17.59

P3Y3M3D

747200

3.56

P2Y -385200 0.01 Indefinite

2127070

15.85

P2Y7M6D

2127070

15.85

P2Y4M6D 2127070 15.85 P2Y4M6D

385200

1926

385200

0.005

52737

369.98

P4Y5M19D

140884

22.48

P5Y -8326 0.6 Indefinite

185295

122.36

P4Y8M1D

-8326 0.6 Indefinite

176969

128.09

P4Y4M28D 176969 128.09 P4Y4M28D

4995

8326

0.6

9990

16652

0.6

0.06

126705

244863

117881

235762

948878

100

0.199

as adjusted for the 1:12 Reverse Stock Split after August 12, 2024 and the 1:5 Reverse Stock Split after February 24, 2025

300

7. DEBT On May 14, 2020, the Company received COVID-19 EIDL lending from the Small Business Administration (SBA) in the amount of $150,000. The loan bears interest at an annual rate of 3.75% calculated on a monthly basis. Monthly payments of $731 were required beginning in November 2022, with a final balloon payment equal to the remaining principal due at the maturity date of October 12, 2050. The balance as of June 30, 2025 and December 31, 2024 was $154,249 and $155,891, respectively. The current maturity at June 30, 2025 is $8,772 and the long-term liability is $145,477 ($8,772 and $147,119 at December 31, 2024, respectively). The loan is collateralized by all tangible and intangible personal property of the Company. The Company is prohibited from accepting future advances under any superior liens on the collateral without the prior consent of SBA. <div style="-aw-sdt-tag:'PG_c57a1a7c3051a319b430'"></div>The current future payment obligations of the principal are as follows: <div style="-aw-sdt-tag:'c317e04dae973ecfbe43'; -aw-sdt-title:'DEBT T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:88%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5c968b0016b149cfb1f12fa47b1bca41'">Period</div></td><td style="width:1%; padding-bottom:1.75pt; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5c764bbf41d64098a324b0fa0eee9c97'">Principal Payments</div></td></tr><tr style="height:11.5pt"><td style="width:88%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0bb61a42b37543a7b09da928c987f7ac'">2025 (remaining six months)</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ed70aeb871a64cbcae4e1e638cd44d8c'">$</div></td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_9cc5803ea7e44342b95a83be6a937207'">-</div></td></tr><tr style="height:11.5pt"><td style="width:88%; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_897e8cb5c5764f54bf36adbea961583d'">2026</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td style="width:10%; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_11851a9e806d4f58b44ce574ad2a99ae'">465</div></td></tr><tr style="height:11.5pt"><td style="width:88%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bd218f23a8534654beb35d354f005013'">2027</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9e76a127fe434806b75dd7251717545a'">3,220</div></td></tr><tr style="height:11.5pt"><td style="width:88%; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5f57e987c26c48cb8368c698d86412c7'">2028</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td style="width:10%; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a641af32d4f142d4896d4e72026bfbf6'">3,333</div></td></tr><tr style="height:11.5pt"><td style="width:88%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_39e1010cfe6e4fc0b5e28f5cfced0432'">2029</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b3e786a7693a420dbcb23ba7b9111b35'">3,470</div></td></tr><tr style="height:11.5pt"><td style="width:88%; padding-bottom:1.75pt; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_61dc3ec600314411bf83aaf42b0afb2c'">Thereafter</div></td><td style="width:1%; padding-bottom:1.75pt; vertical-align:bottom"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d9ea3ec1cd2f4f809bcc21cdbccf2901'">139,512</div></td></tr><tr style="height:11.5pt"><td style="width:88%; padding-bottom:4.25pt; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5b82b081b0cd4cd7810fcd446de801b1'">Total</div></td><td style="width:1%; padding-bottom:4.25pt; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0749ec546c48465eb63ec47c309b1dfa'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_cfd83dce046d4d62badcc6025377dc63'">150,000</div></td></tr></tbody></table></div>

150000

0.0375

731

2050-10-12

154249

155891

8772

145477

8772

147119

The current future payment obligations of the principal are as follows: <div style="-aw-sdt-tag:'c317e04dae973ecfbe43'; -aw-sdt-title:'DEBT T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:88%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5c968b0016b149cfb1f12fa47b1bca41'">Period</div></td><td style="width:1%; padding-bottom:1.75pt; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5c764bbf41d64098a324b0fa0eee9c97'">Principal Payments</div></td></tr><tr style="height:11.5pt"><td style="width:88%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0bb61a42b37543a7b09da928c987f7ac'">2025 (remaining six months)</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ed70aeb871a64cbcae4e1e638cd44d8c'">$</div></td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_9cc5803ea7e44342b95a83be6a937207'">-</div></td></tr><tr style="height:11.5pt"><td style="width:88%; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_897e8cb5c5764f54bf36adbea961583d'">2026</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td style="width:10%; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_11851a9e806d4f58b44ce574ad2a99ae'">465</div></td></tr><tr style="height:11.5pt"><td style="width:88%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bd218f23a8534654beb35d354f005013'">2027</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9e76a127fe434806b75dd7251717545a'">3,220</div></td></tr><tr style="height:11.5pt"><td style="width:88%; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5f57e987c26c48cb8368c698d86412c7'">2028</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td style="width:10%; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a641af32d4f142d4896d4e72026bfbf6'">3,333</div></td></tr><tr style="height:11.5pt"><td style="width:88%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_39e1010cfe6e4fc0b5e28f5cfced0432'">2029</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b3e786a7693a420dbcb23ba7b9111b35'">3,470</div></td></tr><tr style="height:11.5pt"><td style="width:88%; padding-bottom:1.75pt; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_61dc3ec600314411bf83aaf42b0afb2c'">Thereafter</div></td><td style="width:1%; padding-bottom:1.75pt; vertical-align:bottom"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d9ea3ec1cd2f4f809bcc21cdbccf2901'">139,512</div></td></tr><tr style="height:11.5pt"><td style="width:88%; padding-bottom:4.25pt; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5b82b081b0cd4cd7810fcd446de801b1'">Total</div></td><td style="width:1%; padding-bottom:4.25pt; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0749ec546c48465eb63ec47c309b1dfa'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_cfd83dce046d4d62badcc6025377dc63'">150,000</div></td></tr></tbody></table></div>

465

3220

3333

3470

139512

150000

8. DERIVATIVE LIABILITIES In accordance with the provisions of ASC 815, derivative liabilities are initially measured at fair value at the commitment date and subsequently remeasured at each reporting period, with any increase or decrease in the fair value recorded in the results of operations within other income/expense as the change in fair value of derivative liabilities. As of June 30, 2025 and December 31, 2024, derivative liabilities consist of the contingent milestone payment due to Knight Therapeutics, Inc. (“Knight”), a former lender of the Company, as required by the Debt Conversion Agreement executed between the Company and Knight on January 9, 2023, as subsequently amended (the “Knight Debt Conversion Agreement”). Key points of this agreement were as follows: <table cellpadding="0" cellspacing="0" style="width:100%"><tbody><tr><td style="width:18pt; vertical-align:top"> </td><td style="width:18pt; vertical-align:top">●</td><td style="vertical-align:top">The Parties agreed to fix Knight’s cumulative debt to the value as it stood on March 31, 2022, which consisted of principal and accumulated interest. As a result of the completion of the IPO, the cumulative outstanding principal as of March 31, 2022 converted to 18,473 shares of common stock (representing 19.9% ownership of the Company’s common stock after giving effect to the IPO), and the entirety of the accumulated interest as of March 31, 2022 converted into 80,965 shares of Series A Preferred Stock, in full satisfaction of the Company’s obligations with respect to the outstanding principal and accumulated interest.</td></tr></tbody></table> <table cellpadding="0" cellspacing="0" style="width:100%"><tbody><tr><td style="width:18pt; vertical-align:top"> </td><td style="width:18pt; vertical-align:top">●</td><td style="vertical-align:top">The Parties agreed that the Company will make a milestone payment of $10 million to Knight if, after the IPO, the Company sells Arakoda™ or if a Change of Control (as per the definition included in the original loan agreement dated on December 10, 2015) occurs, provided that the purchaser of Arakoda™ or individual or entity gaining control of the Borrower is not the Lender or an affiliate of the Lender.</td></tr></tbody></table> <table cellpadding="0" cellspacing="0" style="width:100%"><tbody><tr><td style="width:18pt; vertical-align:top"> </td><td style="width:18pt; vertical-align:top">●</td><td style="vertical-align:top">For the period ending upon the earlier of (i) 10 years after the closing of the IPO, or (ii) the conversion or redemption in full of the Series A Preferred Stock, the Company will pay to Knight a royalty equal to 3.5% of the Company’s net sales (the “Royalty”) on a quarterly basis, where “Net Sales” has the same meaning as in the Company’s license agreement with the U.S. Army for tafenoquine.</td></tr></tbody></table> Upon consummation of the IPO, the Company concluded that the contingent milestone payment is a freestanding financial instrument that meets the definition of a derivative under ASC 815, and accordingly, the fair value of the derivative liability is marked to market each reporting period until settled. The Royalty due to Knight was determined to be an embedded component of the Series A Preferred Stock, however, is exempt from derivative accounting under the ASC 815 scope exception for specified volumes of sales or service revenues. Therefore, the Company accrues a royalty expense as sales are made. The valuation of the contingent milestone payment includes significant unobservable inputs such as the timing and probability of discrete potential exit scenarios, forward interest rate curves, and discount rates based on implied and market yields. A reconciliation of the beginning and ending balances for the derivative liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is as follows for the three and six months ended June 30, 2025: <div style="-aw-sdt-tag:'c6639d815e653fadd5ae'; -aw-sdt-title:'DERIVATIVE LIABILITIES T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:76%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_fd577863c4914b8ea632e84e6f1d9eec'">Contingent Milestone Payment</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e6d7b29e5a8b4a05b01bf880b02bf8d5'">Total</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ff0051b243e64116bbf90efbe05a88e3'">Derivative liabilities - December 31, 2024</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ef378dbe0e17475fa21c77879bdff28f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c7aae7bfd1584e14a5a3a5d58fab1fd6'">640,830</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_03f649057d5641da8ea8e12f6c789905'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_018000710b81400e98c41366ea9cbd7d'">640,830</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4377246d44bb4cfc863de19c989a5202'">Change in fair value</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff">(5,105)</td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff">(5,105)</td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5a97f90a3edd45afa8a36844a79b2ea4'">Derivative liabilities - March 31, 2025</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_66c9c465df9049adbe6c7a23fe252d5d'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9f633fdc6b9242d381ac51540e4153ee'">635,725</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6c99a0c4c1ea4e3cbd26b72ecd23debf'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e247311824994e519c5a96d63a227785'">635,725</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_078e4af6f8af42d295052694ed2c2427'">Change in fair value</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_23198fd411e74a64b8eeef85300e3dcf'">140,447</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_8b924496c496461dac1ec81e7db2e98a'">140,447</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9462c6e0577448ed88294c1d0aae294c'">Derivative liabilities - June 30, 2025</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b68fd90df04c419b94eddf6eaa0a4843'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a0832472ffb74935b23fb706f1e8f50b'">776,172</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c9c2d12eae3542a390bf1194e56ea849'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_30ad32dbe29748beba120e365071d6bf'">776,172</div></td></tr></tbody></table></div> <div style="-aw-sdt-tag:'PG_c50ece2c23a2dc4329b4'"></div>A reconciliation of the beginning and ending balances for the derivative liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is as follows for the three and six months ended June 30, 2024: <div style="-aw-sdt-tag:'c4bab0de6ccdd69afb26'; -aw-sdt-title:'DERIVATIVE LIABILITIES T2'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:76%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9b7bbdd2b0ad450593bb39fcb5204a2d'">Contingent Milestone Payment</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5b187ddef72349d28b5ac0773df068fb'">Total</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_349fc0c506ae466a8afcdbfdf7eb138c'">Derivative liabilities - December 31, 2023</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e6028efd12ee4fa482ca3e0bf101af8e'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7ab6157566fd406ba29b6922a10b9ec9'">2,306,796</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_22be20f273d846c48dec81b9122b5bae'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_de72d0f81a50480689855c97d37fe6f2'">2,306,796</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c6bf1ed06ead4adf9f2296394e5d94fe'">Fair value - mark to market adjustment</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle">(1,740,847)</td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle">(1,740,847)</td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ebba7a73ac5447149cff86376061747e'">Derivative liabilities - March 31, 2024</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_eb877ce36bf747d68357e4f2fb1cf43f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6c58f57330b54183b08d956ee1ecbd60'">565,949</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c313b830dc054a88b3762920eb5ea1d4'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9150edbc0f974b37a094c956f5550306'">565,949</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a251d932ed0f4f349433c36d59e8d1c5'">Fair value - mark to market adjustment</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f59f8bc8d656446584c1334e2dc483b9'">1,101</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_cdb29bdbac5c4ddb9b2950b510ca591e'">1,101</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a2f0ff1379314111b76e648c5de945d5'">Derivative liabilities - June 30, 2024</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e71efe48bd914c1cb47cc4f8eb18a49a'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2dbbcbe08cd646c49d4ad4090192625e'">567,050</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f0e4024144db439ab692aca1171f1d13'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_3caa46c471b04b1aba01361b3b9e7e1c'">567,050</div></td></tr></tbody></table></div> Changes in the fair value of derivative liabilities are included in other (expense) income in the accompanying consolidated condensed statements of operations and comprehensive loss. During the six months ended June 30, 2025 and 2024, the Company recorded a net (loss) gain on the change in the fair value of derivative liabilities of ($135,342) and $1,739,746, respectively.

18473

0.199

80965

10000000

0.035

A reconciliation of the beginning and ending balances for the derivative liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is as follows for the three and six months ended June 30, 2025: <div style="-aw-sdt-tag:'c6639d815e653fadd5ae'; -aw-sdt-title:'DERIVATIVE LIABILITIES T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:76%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_fd577863c4914b8ea632e84e6f1d9eec'">Contingent Milestone Payment</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e6d7b29e5a8b4a05b01bf880b02bf8d5'">Total</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ff0051b243e64116bbf90efbe05a88e3'">Derivative liabilities - December 31, 2024</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ef378dbe0e17475fa21c77879bdff28f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c7aae7bfd1584e14a5a3a5d58fab1fd6'">640,830</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_03f649057d5641da8ea8e12f6c789905'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_018000710b81400e98c41366ea9cbd7d'">640,830</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4377246d44bb4cfc863de19c989a5202'">Change in fair value</div></td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff">(5,105)</td><td style="width:1%; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ffffff">(5,105)</td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5a97f90a3edd45afa8a36844a79b2ea4'">Derivative liabilities - March 31, 2025</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_66c9c465df9049adbe6c7a23fe252d5d'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9f633fdc6b9242d381ac51540e4153ee'">635,725</div></td><td style="width:1%; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6c99a0c4c1ea4e3cbd26b72ecd23debf'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e247311824994e519c5a96d63a227785'">635,725</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_078e4af6f8af42d295052694ed2c2427'">Change in fair value</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_23198fd411e74a64b8eeef85300e3dcf'">140,447</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_8b924496c496461dac1ec81e7db2e98a'">140,447</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9462c6e0577448ed88294c1d0aae294c'">Derivative liabilities - June 30, 2025</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b68fd90df04c419b94eddf6eaa0a4843'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a0832472ffb74935b23fb706f1e8f50b'">776,172</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c9c2d12eae3542a390bf1194e56ea849'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_30ad32dbe29748beba120e365071d6bf'">776,172</div></td></tr></tbody></table></div> <div style="-aw-sdt-tag:'PG_c50ece2c23a2dc4329b4'"></div>A reconciliation of the beginning and ending balances for the derivative liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is as follows for the three and six months ended June 30, 2024: <div style="-aw-sdt-tag:'c4bab0de6ccdd69afb26'; -aw-sdt-title:'DERIVATIVE LIABILITIES T2'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:76%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9b7bbdd2b0ad450593bb39fcb5204a2d'">Contingent Milestone Payment</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5b187ddef72349d28b5ac0773df068fb'">Total</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_349fc0c506ae466a8afcdbfdf7eb138c'">Derivative liabilities - December 31, 2023</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e6028efd12ee4fa482ca3e0bf101af8e'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7ab6157566fd406ba29b6922a10b9ec9'">2,306,796</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_22be20f273d846c48dec81b9122b5bae'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_de72d0f81a50480689855c97d37fe6f2'">2,306,796</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c6bf1ed06ead4adf9f2296394e5d94fe'">Fair value - mark to market adjustment</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle">(1,740,847)</td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:middle">(1,740,847)</td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ebba7a73ac5447149cff86376061747e'">Derivative liabilities - March 31, 2024</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_eb877ce36bf747d68357e4f2fb1cf43f'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6c58f57330b54183b08d956ee1ecbd60'">565,949</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c313b830dc054a88b3762920eb5ea1d4'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9150edbc0f974b37a094c956f5550306'">565,949</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a251d932ed0f4f349433c36d59e8d1c5'">Fair value - mark to market adjustment</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f59f8bc8d656446584c1334e2dc483b9'">1,101</div></td><td style="width:1%; vertical-align:middle"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"> </td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_cdb29bdbac5c4ddb9b2950b510ca591e'">1,101</div></td></tr><tr style="height:11.5pt"><td style="width:76%; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a2f0ff1379314111b76e648c5de945d5'">Derivative liabilities - June 30, 2024</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e71efe48bd914c1cb47cc4f8eb18a49a'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2dbbcbe08cd646c49d4ad4090192625e'">567,050</div></td><td style="width:1%; vertical-align:middle; background-color:#ccecff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f0e4024144db439ab692aca1171f1d13'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:middle; background-color:#ccecff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_3caa46c471b04b1aba01361b3b9e7e1c'">567,050</div></td></tr></tbody></table></div>

640830

-5105 -5105

635725

140447 140447

776172

2306796

-1740847 -1740847

565949

1101 1101

567050

-135342

1739746

9. INCOME TAXES The Company did not record a federal nor a District of Columbia income tax provision or benefit for the three and six months ended June 30, 2025 and 2024 due to taxable losses.

10. SHARE-BASED COMPENSATION The following is a summary of share-based compensation expenses reported in the consolidated condensed statements of operations and comprehensive loss for the three and six months ended June 30, 2025 and 2024: <div style="-aw-sdt-tag:'c13275b5451f7f9fa78e'; -aw-sdt-title:'SHARE-BASED COMPENSATION T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:52%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="5" style="border-bottom:1.5pt solid #000000; padding-right:3.6pt; padding-left:3.6pt; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b793b7deaa5f4e1d950f54932847ec4e'">For the Three Months Ended June 30,</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="5" style="border-bottom:1.5pt solid #000000; padding-left:11.5pt; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_537410e7812d486a9a1750abab377793'">For the Six Months Ended June 30,</div></td></tr><tr style="height:11.5pt"><td style="width:52%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1c65bd1b721f4fdbb0598ff8d89de949'">2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e80ebe59c55b4da093ced29e2c908199'">2024</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_91ed7e22685d417984396bafa04be366'">2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_df669bbe060d4fb4868590c39a9103dd'">2024</div></td></tr><tr style="height:11.5pt"><td style="width:52%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1f65a7c0fbbf45a68b9646858ce371ce'">Research and Development</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_23d3849a725541999e62bbfea44aac84'">$</div></td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_11384fc8b65f4d7db353787823d55423'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_025187fdcd654094abb16118f061da90'">$</div></td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2b22ee8f24c54fa896add2668695efcb'">2,627,300</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b4c10c58c0314c169080c9c8b8fcbf8e'">$</div></td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_a08e3c8a4c6f4085aa8a9d31befcd057'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_78842318fd574561a2884382a7738a2b'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_35eff82596e143da87976fe2e081d8ab'">2,627,300</div></td></tr><tr style="height:11.5pt"><td style="width:52%; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_61c64308dfc6458ea1fbb4a8c7b703f2'">General and Administrative Expenses</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ddd5fe7024e34d6d8b4886992b4b418e'">78,620</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b1923603f0314dcc9f9dff054d6a03da'">125,368</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_be2f81c4d0954142a92c2d69272f7316'">265,383</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_62aa8b68d8d0491db7039e6b80dd5e0e'">250,735</div></td></tr><tr style="height:11.5pt"><td style="width:52%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bfa6fe246dec48e885d05f0057213748'">Total Share-Based Compensation Expense Included in Operating Expenses</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f745775470c94315af299adf55367ded'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_74b13f97c0cf48dab5e62d86746dd071'">78,620</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f2f730e985d34774bbed0f63d2691b9d'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_40018e5c15e74eda9b9f7804866b0d19'">2,752,668</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6d7a61fde61344dc8721193a9a15d53c'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_04eded1abc4d4ad9aef27f111b48a590'">265,383</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9c2d8eda549747ef9ba345afb4170af9'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'06e-48c-aaa-2d1-7b4a'">2,878,035</div></td></tr></tbody></table></div> Share-Based Compensation under 2022 Equity Incentive Plan On November 22, 2022, the Company adopted the 2022 Equity Incentive Plan (the “2022 Plan”), which provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units and performance awards to eligible employees, directors and consultants, to be granted from time to time by the Board of Directors of the Company. To date, the Company has granted shares of common stock, restricted stock units, stock options to employees, non-employees, and directors under the 2022 Plan. As of June 30, 2025, the number of remaining shares available for issuance under the 2022 Plan is equal to 57,068. Stock Options The Company grants stock options to employees, non-employees, and directors with exercise prices equal to the closing price of the underlying shares of the Company’s common stock on the Nasdaq Capital Market on the date that the options are granted. Options granted generally have a term of five to ten years from the grant date and are subject to vesting as determined in the individual award agreement. The Company estimates the fair value of stock options on the grant date by applying the Black-Scholes option pricing valuation model. <div style="-aw-sdt-tag:'PG_ccc01229426adb7fbfee'"></div>There were no stock options granted during the three months ended June 30, 2025. During the six months ended June 30, 2025, the Company granted a total of 120,000 stock options to two executives at a per share exercise price of $6.55. These options are subject to vesting annually in five equal tranches, with the first 20% tranche fully vested on the date of grant and thereafter, vest on the last date of each fiscal year beginning December 31, 2025. The weighted average grant date fair value of options granted during the six months ended June 30, 2025 was $4.55. There were no stock options granted during the three and six months ended June 30, 2024. The following table summarizes the significant assumptions used in determining the fair value of options granted during the three and six months ended June 30, 2025 and 2024: <div style="-aw-sdt-tag:'c6b82afc388c401d9e30'; -aw-sdt-title:'SBC Table FMV Assumptions'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:53%; vertical-align:bottom"> </td><td colspan="5" style="border-bottom:1.5pt solid #000000; padding-right:3.6pt; padding-left:3.6pt; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_371d5f2bfb054b0e8460d09bb59858a9'">For the Three Months Ended June 30,</div></td><td style="width:0.86%; vertical-align:middle"> </td><td colspan="5" style="border-bottom:1.5pt solid #000000; padding-left:18.7pt; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e2d4b0f5404c484680abbbec2fbb1cd5'">For the Six Months Ended June 30,</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_58cd0c9841254a3dac116deef4bcbc41'">2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_78c64d6266234af3b75e0972a6752883'">2024</div></td><td style="width:0.86%; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4b5707f7e1f340fabeba896192704cbf'">2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c0b54a2289c946b5b7a0a1ca7a79bae1'">2024</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bdbe21d861f54e598b6c2ebeaf8c95fe'">Weighted-average grant date fair value</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7890dccaab874e7d92cb7b0e72fc317f'">$</div></td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_22b11df71f0d47098e6e2bded099c637'">N/A</div></td><td style="width:1%; padding-right:1.45pt; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_37a0df27750945fc9b6899c1a6a047ca'">N/A</div></td><td style="width:0.86%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f54f277a21d94c4cacdd010927e3433e'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_61461e1150e24180814adbbea8f0035f'">4.55</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2e5e3ada99254986ae82736208308e85'">N/A</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a86fcbd02d504a77b42500289cd5f9c5'">Risk-free interest rate</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_422b919e53604b4d9b01e6a4ff8ae470'">N/A</div></td><td style="width:1%; padding-right:1.45pt; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7e4facc7edbe48189d168a4442b665a2'">N/A</div></td><td style="width:0.86%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff">4.36%</td><td style="width:1%; padding-right:1.45pt; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_74aeeef33de8473b9285aa18ea7aa219'">N/A</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5fe58341b1494de19749b138fb5378ee'">Expected volatility</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0c331ee129f64ed1b9fa50dc73136fcd'">N/A</div></td><td style="width:1%; padding-right:1.45pt; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_12969efcdcc84009908030e35f93a974'">N/A</div></td><td style="width:0.86%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff">90.00%</td><td style="width:1%; padding-right:1.45pt; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c2b9c54938ac4c5bab4acf815ac74d9f'">N/A</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f98e805c00b14edb84da40ce6346c721'">Expected term (years)</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e4b5461f1a1746da98b836b10b7a794a'">N/A</div></td><td style="width:1%; padding-right:1.45pt; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2fbdb738117d49a882286abab722c030'">N/A</div></td><td style="width:0.86%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_67fa179582ea40ab85e70f2d97a7168b'">4.50</div></td><td style="width:1%; padding-right:1.45pt; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_73c55416158e4b9da0d036b9e91d110a'">N/A</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_04267cb0abf54990bdf4b71fb0d4b3f1'">Expected dividend yield</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_3310313796d64fcca52c3a9e78c2bec2'">N/A</div></td><td style="width:1%; padding-right:1.45pt; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d9ef82eb21d54263b8ca618d8d975456'">N/A</div></td><td style="width:0.86%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff">0.00%</td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d025feef6683485ab9096e3aaae5f158'">N/A</div></td></tr></tbody></table></div> For the three and six months ended June 30, 2025, the Company recognized $34,503 and $177,148 of compensation expense related to stock option awards, respectively ($0 for the three and six months ended June 30, 2024). Restricted Stock Units Compensation cost for service-based RSUs is based on the grant date fair value of the award, which is the closing market price of the Company’s common stock on the grant date multiplied by the number of shares awarded. During the three and six months ended June 30, 2025 and 2024, 0 shares of common stock underlying RSUs vested and no RSUs were granted. The Company recognized $0 of compensation expense related to vested RSUs for the three and six months ended June 30, 2025 and 2024. Annual Performance Bonus In December 2024, the Board approved the payment of 2024 performance bonuses to executives of the Company. Each executive was provided the option of receiving up to $20,000 in cash, with the remainder paid in shares of common stock determined based on the closing market price on January 2, 2025. On January 20, 2025, the Company issued a total of 15,809 shares of common stock to the executives in settlement of the share-based portion of the 2024 performance bonuses. Approximately 2,748 shares were withheld to cover payroll tax withholdings. Share-Based Payments to Vendors for Services In 2023, the Company issued shares of common stock as share-based payments to certain vendors in exchange for services to be rendered to the Company in the future. For fully vested, nonforfeitable equity instruments that are granted at the date the Company and a nonemployee enter into an agreement for goods or services, the Company recognizes the fair value of the equity instruments as a prepaid asset on the grant date, as defined in ASC 718. The corresponding cost is expensed over the service period depending on the specific facts and circumstances of the agreement with the nonemployee. As of June 30, 2025, the remaining unamortized balance of prepaid assets related to these share-based payments for which the grant date criteria has been met and the services are expected to be rendered within one year is $284,122 ($306,181 at December 31, 2024), which is presented as a component of prepaid and other assets on the accompanying consolidated condensed balance sheets. The unamortized balance of noncurrent prepaid assets related to these share-based payments for which the services are expected to be rendered beyond one year is $0 ($66,176 at December 31, 2024), reported in long-term prepaid expense on the accompanying consolidated condensed balance sheets. The agreements with the nonemployees do not include any provisions to claw back the share-based payments in the event of nonperformance by the nonemployees. Subject to applicable federal and state securities laws, the nonemployees can sell the received equity instruments.

The following is a summary of share-based compensation expenses reported in the consolidated condensed statements of operations and comprehensive loss for the three and six months ended June 30, 2025 and 2024: <div style="-aw-sdt-tag:'c13275b5451f7f9fa78e'; -aw-sdt-title:'SHARE-BASED COMPENSATION T1'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:52%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="5" style="border-bottom:1.5pt solid #000000; padding-right:3.6pt; padding-left:3.6pt; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b793b7deaa5f4e1d950f54932847ec4e'">For the Three Months Ended June 30,</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="5" style="border-bottom:1.5pt solid #000000; padding-left:11.5pt; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_537410e7812d486a9a1750abab377793'">For the Six Months Ended June 30,</div></td></tr><tr style="height:11.5pt"><td style="width:52%; vertical-align:bottom"> </td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1c65bd1b721f4fdbb0598ff8d89de949'">2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e80ebe59c55b4da093ced29e2c908199'">2024</div></td><td style="width:1%; vertical-align:bottom"> </td><td colspan="2" style="border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_91ed7e22685d417984396bafa04be366'">2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_df669bbe060d4fb4868590c39a9103dd'">2024</div></td></tr><tr style="height:11.5pt"><td style="width:52%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_1f65a7c0fbbf45a68b9646858ce371ce'">Research and Development</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_23d3849a725541999e62bbfea44aac84'">$</div></td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_11384fc8b65f4d7db353787823d55423'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_025187fdcd654094abb16118f061da90'">$</div></td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2b22ee8f24c54fa896add2668695efcb'">2,627,300</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b4c10c58c0314c169080c9c8b8fcbf8e'">$</div></td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-tag:'C_a08e3c8a4c6f4085aa8a9d31befcd057'">-</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_78842318fd574561a2884382a7738a2b'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_35eff82596e143da87976fe2e081d8ab'">2,627,300</div></td></tr><tr style="height:11.5pt"><td style="width:52%; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_61c64308dfc6458ea1fbb4a8c7b703f2'">General and Administrative Expenses</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_ddd5fe7024e34d6d8b4886992b4b418e'">78,620</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_b1923603f0314dcc9f9dff054d6a03da'">125,368</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_be2f81c4d0954142a92c2d69272f7316'">265,383</div></td><td style="width:1%; vertical-align:bottom"> </td><td style="width:1%; border-bottom:1.5pt solid #000000; vertical-align:bottom"> </td><td style="width:10%; border-bottom:1.5pt solid #000000; vertical-align:bottom"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_62aa8b68d8d0491db7039e6b80dd5e0e'">250,735</div></td></tr><tr style="height:11.5pt"><td style="width:52%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bfa6fe246dec48e885d05f0057213748'">Total Share-Based Compensation Expense Included in Operating Expenses</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f745775470c94315af299adf55367ded'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_74b13f97c0cf48dab5e62d86746dd071'">78,620</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f2f730e985d34774bbed0f63d2691b9d'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_40018e5c15e74eda9b9f7804866b0d19'">2,752,668</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_6d7a61fde61344dc8721193a9a15d53c'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_04eded1abc4d4ad9aef27f111b48a590'">265,383</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_9c2d8eda549747ef9ba345afb4170af9'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; border-bottom:4.5pt double #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'06e-48c-aaa-2d1-7b4a'">2,878,035</div></td></tr></tbody></table></div>

2627300

78620

125368

265383

250735

78620

2752668

265383

2878035

57068

term of five to ten years

120000

6.55

0.20

4.55

The following table summarizes the significant assumptions used in determining the fair value of options granted during the three and six months ended June 30, 2025 and 2024: <div style="-aw-sdt-tag:'c6b82afc388c401d9e30'; -aw-sdt-title:'SBC Table FMV Assumptions'"><table cellpadding="0" cellspacing="0" style="width:100%; border-collapse:collapse"><tbody><tr style="height:11.5pt"><td style="width:53%; vertical-align:bottom"> </td><td colspan="5" style="border-bottom:1.5pt solid #000000; padding-right:3.6pt; padding-left:3.6pt; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_371d5f2bfb054b0e8460d09bb59858a9'">For the Three Months Ended June 30,</div></td><td style="width:0.86%; vertical-align:middle"> </td><td colspan="5" style="border-bottom:1.5pt solid #000000; padding-left:18.7pt; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e2d4b0f5404c484680abbbec2fbb1cd5'">For the Six Months Ended June 30,</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:bottom"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_58cd0c9841254a3dac116deef4bcbc41'">2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_78c64d6266234af3b75e0972a6752883'">2024</div></td><td style="width:0.86%; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_4b5707f7e1f340fabeba896192704cbf'">2025</div></td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:middle"> </td><td colspan="2" style="border-top:1.5pt solid #000000; border-bottom:1.5pt solid #000000; vertical-align:middle"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c0b54a2289c946b5b7a0a1ca7a79bae1'">2024</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_bdbe21d861f54e598b6c2ebeaf8c95fe'">Weighted-average grant date fair value</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7890dccaab874e7d92cb7b0e72fc317f'">$</div></td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_22b11df71f0d47098e6e2bded099c637'">N/A</div></td><td style="width:1%; padding-right:1.45pt; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_37a0df27750945fc9b6899c1a6a047ca'">N/A</div></td><td style="width:0.86%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f54f277a21d94c4cacdd010927e3433e'">$</div></td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_61461e1150e24180814adbbea8f0035f'">4.55</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; border-top:1.5pt solid #000000; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2e5e3ada99254986ae82736208308e85'">N/A</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_a86fcbd02d504a77b42500289cd5f9c5'">Risk-free interest rate</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_422b919e53604b4d9b01e6a4ff8ae470'">N/A</div></td><td style="width:1%; padding-right:1.45pt; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_7e4facc7edbe48189d168a4442b665a2'">N/A</div></td><td style="width:0.86%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff">4.36%</td><td style="width:1%; padding-right:1.45pt; vertical-align:middle; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_74aeeef33de8473b9285aa18ea7aa219'">N/A</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_5fe58341b1494de19749b138fb5378ee'">Expected volatility</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_0c331ee129f64ed1b9fa50dc73136fcd'">N/A</div></td><td style="width:1%; padding-right:1.45pt; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_12969efcdcc84009908030e35f93a974'">N/A</div></td><td style="width:0.86%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff">90.00%</td><td style="width:1%; padding-right:1.45pt; vertical-align:middle; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_c2b9c54938ac4c5bab4acf815ac74d9f'">N/A</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_f98e805c00b14edb84da40ce6346c721'">Expected term (years)</div></td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_e4b5461f1a1746da98b836b10b7a794a'">N/A</div></td><td style="width:1%; padding-right:1.45pt; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_2fbdb738117d49a882286abab722c030'">N/A</div></td><td style="width:0.86%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_67fa179582ea40ab85e70f2d97a7168b'">4.50</div></td><td style="width:1%; padding-right:1.45pt; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:1%; vertical-align:bottom; background-color:#ffffff"> </td><td style="width:10%; vertical-align:bottom; background-color:#ffffff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_73c55416158e4b9da0d036b9e91d110a'">N/A</div></td></tr><tr style="height:11.5pt"><td style="width:53%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_04267cb0abf54990bdf4b71fb0d4b3f1'">Expected dividend yield</div></td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_3310313796d64fcca52c3a9e78c2bec2'">N/A</div></td><td style="width:1%; padding-right:1.45pt; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d9ef82eb21d54263b8ca618d8d975456'">N/A</div></td><td style="width:0.86%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff">0.00%</td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:1%; vertical-align:bottom; background-color:#cceeff"> </td><td style="width:10%; vertical-align:bottom; background-color:#cceeff"><div style="-aw-sdt-content:placeholder; -aw-sdt-tag:'C_d025feef6683485ab9096e3aaae5f158'">N/A</div></td></tr></tbody></table></div>

4.55

0.0436

0.90

P4Y6M

34503

177148

20000

15809 2748 284122 306181

66176

11. COMMITMENTS AND CONTINGENCIES Leases The Company is a party to a single lease for its office space located in Washington, DC, which was most recently renewed for an additional one-year term that expires March 31, 2026. As the term of the office lease is 12 months, the lease is not recorded on the balance sheet. The Company recognizes lease expense on this lease as short-term lease costs. Operating lease costs, including short-term leases, were in the amount of $4,800 and $5,075 for the three months ended June 30, 2025 and 2024, respectively ($9,767 and $19,128 for the six months ended June 30, 2025 and 2024, respectively). Board of Directors In November and December 2022, the Company signed agreements with four director nominees (Cheryl Xu, Paul Field, Charles Allen, and Stephen Toovey) which came into effect on July 11, 2023, the date the Company’s Registration Statement was declared effective. Each director is entitled to receive cash compensation of $11,250 quarterly. In addition, the two non-audit committee chairs (Toovey, Field) will receive $1,250 per quarter and the audit committee chair (Allen) will receive an additional $2,000 per quarter. In addition, each director is entitled to receive annual equity-based compensation awards, with the amounts and terms to be determined by the Compensation Committee. Contingencies The Company’s operations are subject to a variety of local and state regulations. Failure to comply with one or more of those regulations could result in fines, restrictions on its operations, or losses of permits that could result in the Company ceasing operations. Contingent Compensation Following the Company’s IPO and the conversion of the outstanding debt pursuant to the Knight Debt Conversion Agreement as discussed in Note 8, the Company is obligated to pay Knight a contingent milestone payment of $10 million if the Company sells Arakoda or if a Change of Control occurs. The Company accounts for the contingent milestone payment as a derivative liability (See Note 8). On July 15, 2015, the Company entered into the Exclusive License Agreement with the U.S. Army Medical Materiel Development Activity (the “U.S. Army”), which was subsequently amended (the “U.S. Army Agreement”), in which the Company obtained a license to develop and commercialize the licensed technology with respect to all therapeutic applications and uses excluding radical cure of symptomatic vivax malaria. The term of the U.S. Army Agreement will continue until the expiration of the last to expire of the patent application or valid claim of the licensed technology, or 20 years from the start date of the U.S. Army Agreement, unless terminated earlier by the parties. The Company must make a minimum annual royalty payment of 3% of Net Sales (as defined in the U.S. Army Agreement) for Net Sales less than $35 million, and 5% of Net Sales greater than $35 million, with US government sales excluded from the definition of Net Sales. In addition, the Company must pay fees upon the achievement of certain milestones. The Company accrues the minimum annual royalty when the related sales occur. The achievement of the remaining milestones under the U.S. Army Agreement are not considered probable and thus no accruals for the related milestone payments have been made. On December 20, 2024, the Company entered into a Patent License Agreement with Tufts Medical Center (“Tufts MC”), in which the Company obtained a license to research and commercialize the licensed technology with respect the use of tafenoquine for treatment and/or prevention of babesiosis (the “Tufts MC Agreement”). The term of the Tufts MC Agreement will continue until the expiration or final abandonment of the last patent application or issued patent for the use of tafenoquine for treatment and/or prevention of babesiosis, unless terminated earlier by the parties. On the earlier of (x) the date of patent issuance or (y) the date of regulatory approval for the use of tafenoquine product in treatment of babesiosis, the Company must make royalty payments equal to 4% of Net Sales (as defined in the Tufts MC Agreement) for tafenoquine sold in a format labeled for use in the treatment of babesiosis or 2% of Net Sales for 60P products that are not sold in a format labeled for use in the treatment of babesiosis. In addition, for all sublicense revenue received by 60P from sales of sublicensed products, the Company must make royalty payments equal to 20% of the revenue received by the Company for sales of tafenoquine sold in a format labeled for use in the treatment of babesiosis or 10% for sales of tafenoquine that are not sold in a format labeled for use in the treatment of babesiosis. As of June 30, 2025, the royalty period has not commenced, thus no accruals have been made. Litigation, Claims and Assessments From time to time, the Company may be involved in litigation relating to claims arising out of operations in the normal course of business. As of June 30, 2025, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of the Company’s operations.

4800

5075

9767

19128

11250

1250

2000

10000000

P20Y 0.03

35000000

0.05

35000000

0.04 0.02

0.20

0.10

12. SUBSEQUENT EVENTS The Company has evaluated subsequent events through August 13, 2025, which is the date the financial statements were issued. July 2025 Offering On July 15, 2025, the Company entered into a securities purchase agreement with certain institutional investors pursuant to which the Company sold, in a registered direct offering (the “July 2025 Offering”) 1,753,314 units at an offering price of $1.90 per unit and 878,264 pre-funded units at an offering price of $1.899 per pre-funded unit. Each unit consisted of (i) one share of common stock, (ii) one series A-1 warrant exercisable for one share of common stock (the “July 2025 A-1 Warrants”), and (iii) one series A-2 warrant exercisable for one share of common stock (the “July 2025 A-2 Warrants” and together with the July 2025 A-1 Warrants, the “July 2025 Warrants”). Each pre-funded unit consists of one pre-funded warrant exercisable for one share of common stock (the “July 2025 Pre-Funded Warrants”) and warrants identical to the July 2025 Warrants included in the units. The July 2025 Pre-Funded Warrants have an exercise price of $0.001 per share, were immediately exercisable beginning on July 16, 2025 until exercised in full. The July 2025 A-1 Warrants have an exercise price of $1.90 per share and are exercisable beginning on July 16, 2025 until July 15, 2030. The July 2025 A-2 Warrants have an exercise price of $1.90 per share and are exercisable beginning on July 16, 2025 until January 15, 2027. As compensation for acting as the placement agent for the July 2025 Offering, the Company also issued to H.C. Wainwright & Co., LLC warrants (the “July 2025 Placement Agent Warrants”) to purchase up to 197,368 shares of common stock. The July 2025 Placement Agent Warrants have an exercise price equal to $2.375 per share and are exercisable upon issuance, or July 16, 2025, and expire 60 months from the date of issuance, or July 15, 2030. The July 2025 Offering was made pursuant to the Company’s registration statement on Form S-1 (File No. 333-288550), which was declared effective by the Securities and Exchange Commission (the “SEC”) on July 15, 2025, and the final prospectus, which was filed with the SEC on July 16, 2025. The Offering closed on July 16, 2025, resulting in net proceeds to the Company of approximately $4,459,874, which includes the payment for 389,211 July 2025 Pre-Funded Warrants exercised prior to closing as well as the pre-payment for the exercise of 364,316 July 2025 Pre-Funded Warrants, after deducting placement agent fees and other offering expenses paid by the Company. On July 16, 2025 and July 21, 2025, the Company issued 175,000 and 189,316 shares of common stock, respectively, upon the exercise of 175,000 and 189,316 July 2025 Pre-Funded Warrants, respectively, which were prepaid at the closing of the July 2025 Offering. On July 16, 2025, the Company issued 124,737 shares of common stock, upon the exercise of 124,737 July 2025 Pre-Funded Warrants, resulting in aggregate proceeds to the Company of $125.

1753314

1.9

878264

1.899

0.001

2025-07-16

1.9

2025-07-16

2030-07-15

1.9

2025-07-16

2027-01-15

197368

2.375

2025-07-16

P60M

2030-07-15

4459874

389211 364316

175000

189316

124737

Prior periods presented have been adjusted to reflect the 1:5 reverse stock split on February 24, 2025. Prior periods presented have been adjusted to reflect the 1:5 reverse stock split on February 24, 2025. Prior periods presented have been adjusted to reflect the 1:5 reverse stock split on February 24, 2025. Prior periods presented have been adjusted to reflect the 1:5 reverse stock split on February 24, 2025. Weighted average remaining contractual life at December 31, 2024 excludes 385,200 Pre-Funded Warrants issued September 2024 that do not have a contractual expiration date, for which 0 warrants remain outstanding and exercisable at March 31, 2025 and June 30, 2025.