RELATED PARTIES

3 Months Ended

Mar. 31, 2026

Related Party Transactions [Abstract]

RELATED PARTIES

14. RELATED PARTIES

On February 12, 2026 the Company signed a consulting agreement with Wen-Hung Tsai, one of the Company's shareholders and a former member of the Company's Board of Directors (till February 26, 2024). Per the consulting agreement Mr. Wen-Hung Tsai will provide strategic advice, help with industrial affiliation and partnerships, as well as work on the supply chain establishment for new products. As compensation for his services, the Company granted to Mr. Wen-Hung Tsai on February 12, 2026 an option to purchase 250,000 shares of the Company's Common Stock under the Company’s 2025 Equity Incentive Plan. Eighty percent (80%)

of the option grant is scheduled to vest and become exercisable on February 12, 2027. The remaining portion of the option grant is scheduled to vest and become exercisable in three (3) equal monthly installments on the same day of each successive calendar month following February 12, 2027.

On March 16, 2026, the Company closed the Private Placement as described in Note 1. DESCRIPTION OF BUSINESS AND ORGANIZATIONAL STRUCTURE and issued and sold to the Investors in the Private Placement 2,867,089 shares of common stock at $4.883 per share. Three out of four participating Investors were the Company's shareholders at the time of this transaction and invested $13.5 million in 2,764,693 Company's shares through the Private Placement.

For the three months ended March 31, 2026, the Company's other material transactions with related parties related to certain R&D expenses ($237 and $361 for the three months ended March 31, 2026 and March 31, 2025, respectively) for non-recurring engineering services with an R&D and manufacturing services vendor that holds an insignificant percentage of the Company's capital stock. The outstanding balance for the non-recurring services was included in Accrued Expenses and Other Current Liabilities in the condensed balance sheet as of March 31, 2026. There were no amounts due from related parties at March 31, 2026. There were no amounts due from or to related parties at December 31, 2025.