Related Party Transactions

6 Months Ended

Jun. 30, 2025

Related Party Transactions [Abstract]

Related Party Transactions

11. Related Party Transactions

The following is a summary of related party transactions that met our disclosure threshold:

Working Capital Advances

The proceeds of the KY Note and ASE Note (see Note 5) were used for working capital advances. The total interest expense incurred in related to the notes for the three and six months ended June 30, 2025 were $172,221 and $336,569 respectively, compared to $101,777 and $132,855 respectively, for the three and six months ended June 30, 2024. As of June 30, 2025 and December 31, 2024, unpaid accrued interest expenses were $876,608 and $540,039, respectively.

The company paid off the KY Note during the years 2023 and 2024.

Product Co-development Agreement

Pursuant to a five-year Product Co-development Agreement effective on August 1, 2021 (the “Product Co-Development Agreement”) with TCNT, the development expenses incurred were $76,977 and $173,672 for the three and six months ended June 30,2025, compared to $101,244 and $191,838 for the three and six months ended June 30, 2024, respectively. The fee for non-exclusive use of patents were $158,447 and $308,013 for the three and six months ended June 30, 2025, compared to $285,263 and $569,862 for the three and six months ended June 30, 2024, respectively. Advance payment $116,974 and $ 120,869 as of June 30, 2025 and December 31, 2024, respectively.