In connection with the preparation of the Company's financial statements for the quarter ended March 31, 2024, management identified an error in previously issued balance sheets. The error related to the classification of the note payable and related accrued interest payable issued to Eversana pursuant to the Eversana Credit Facility (the "Aggregate Note Payable") in our balance sheets as of December 31, 2023 and the interim periods ended as of June 30, 2023 and September 30, 2023 (the "Affected Periods”). Beginning with the quarter ended June 30, 2023 and as of each balance sheet date for the Affected Periods, the Company's net profits were negative for the two preceding calendar quarters and therefore either Eversana or the Company could have exercised the Net Profit Quarterly Termination Right during the 60 day period following the end of each of the Affected Periods. As such, the Aggregate Note Payable balance should have been classified within current liabilities rather than long-term liabilities (the "Classification Error") for the Affected Periods. The effect of the Classification Error did not impact Total Assets, Total Liabilities, or Stockholder's Equity (Deficit) in the balance sheets or the statements of operations, stockholder's equity (deficit) or cash flows for the Affected Periods.

The following table presents the effect of correcting this error on the Company’s balance sheet as of December 31, 2023:


	December 31, 2023
	As Previously Reported			Restatement Impact			As Restated
Assets
Current Assets:
Cash and cash equivalents	$	4,739,426		$	—		$	4,739,426
Accounts receivable, net		673,071			—			673,071
Prepaid expenses		885,040			—			885,040
Inventory		481,840			—			481,840
Other current assets		47,532			—			47,532
Total current assets		6,826,909			—			6,826,909
Deferred offering costs		241,637			—			241,637
Total assets	$	7,068,546		$	—		$	7,068,546

Liabilities and stockholders' deficit
Current Liabilities:
Accounts payable and accrued expenses	$	1,711,778		$	—		$	1,711,778
Accrued compensation		1,324,010			—			1,324,010
Note Payable		—			5,000,000			5,000,000
Accrued interest payable		—			1,612,295			1,612,295
Total current liabilities		3,035,788			6,612,295			9,648,083
Long-term liabilities
Note payable		5,000,000			(5,000,000	)		—
Accrued interest payable		1,612,295			(1,612,295	)		—
Total long-term liabilities		6,612,295			(6,612,295	)		—
Total liabilities		9,648,083			—			9,648,083

Commitments and contingencies

Stockholders' deficit:
Preferred stock, $0.0001 par value; authorized shares - 5,000,000; issued and outstanding shares - 0 at December 31, 2023		—			—			—
Common stock, $0.0001 par value; authorized shares - 50,000,000; issued and outstanding shares - 3,343,070 at December 31, 2023		334			—			334
Additional paid-in capital		120,859,567			—			120,859,567
Accumulated deficit		(123,439,438	)		—			(123,439,438	)
Total stockholders' deficit		(2,579,537	)		—			(2,579,537	)
Total liabilities and stockholders' deficit	$	7,068,546		$	—		$	7,068,546