As previously disclosed, on June 5, 2026, Nasdaq notified the Company that it did not satisfy Nasdaq Listing Rule 5550(b)(1), which requires a listed company to maintain a minimum of $2.5 million in stockholders’ equity. At that time, the Company also did not satisfy the alternative continued listing standards based on market value of listed securities or net income from continuing operations.

Under the terms of the extension, the Company must complete its compliance initiatives and publicly demonstrate compliance with the applicable stockholders’ equity requirement on or before December 2, 2026. Nasdaq will continue to monitor the Company’s ongoing compliance with the requirement, including through the Company’s next periodic report.

The Company intends to continue pursuing its compliance initiatives within the extension period. The extension does not constitute a determination that the Company has regained compliance with Nasdaq’s continued listing requirements, and there can be no assurance that the Company will regain or maintain compliance. If the Company does not satisfy the terms of the extension, Nasdaq may issue a written determination to delist the Company’s common stock, which the Company would have the right to appeal to a Nasdaq Hearings Panel.