Note 3 – Recent Developments, Liquidity and Management’s Plans

As of June 30, 2026, the Company’s cash on hand was $307,612 and marketable securities were $10,679,782. The Company has incurred a net loss from operations of $8,645,929 for the six months ended June 30, 2026. As of June 30, 2026, the Company had working capital of $8,175,648 and stockholders’ equity of $16,090,897 including an accumulated deficit of $152,190,703. During the six months ended June 30, 2026, cash flows used in operating activities were $5,105,096 consisting primarily of a net loss of $7,859,013. Since its inception, the Company has met its liquidity requirements principally through the sale of its Common Stock and Preferred Stock in public and private placements.

During the year ended December 31, 2025, the Company raised $6,390,578, net of offerings costs of $609,578, through the private placement of the Company’s Series H Preferred Stock and warrants to purchase shares of the Company’s Common Stock. Additionally, the Company collected net proceeds of $11,719,707 from shareholders exercising Common Stock warrants. During current reporting period, no additional cash was raised.

The Company evaluated the current cash requirements for operations in conjunction with management’s strategic plan and believes that the Company’s current financial resources as of the date of the issuance of these condensed consolidated financial statements are sufficient to fund its current operating budget and contractual obligations as of June 30, 2026 as they fall due within the next twelve-month period, alleviating any substantial doubt raised by the Company’s historical operating results and satisfying its estimated liquidity needs for twelve months from the issuance of these condensed consolidated financial statements.