In consideration for the immediate exercise of the warrants for cash, the Company will issue new unregistered warrants to purchase up to 6,015,308 shares of common stock. The new warrants will have an exercise price of $0.95 per share, will be exercisable immediately and will expire three years after the effective date of the Resale Registration Statement (as defined below).

The aggregate gross proceeds to the Company from the offering are expected to be approximately $3.6 million, before deducting placement agent fees and other offering expenses. The offering is expected to close on or about August 17, 2026, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.