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1. Description of business Medicus Pharma Ltd. (the "Company"), formerly Interactive Capital Partners Corporation, is a clinical stage, multi-strategy, life sciences, biotech company focused on investing in and accelerating clinical development programs of novel and potentially disruptive therapeutic assets. The Company is a public limited company originally incorporated pursuant to the provisions of the Business Corporations Act (Ontario) on April 30, 2008, as a private company named Interactive Capital Partners Corporation, with nominal assets and liabilities. The Company's registered office is located at 100 King Street West, Suite 3400, One First Canadian Place, Toronto, Ontario, Canada, and its head office is located at 300 Conshohocken State Rd., Suite 200, W. Conshohocken, PA.

2. Summary of significant accounting policies Basis of presentation and consolidation The accompanying unaudited condensed consolidated financial statements included herein have been prepared in conformity with generally accepted accounting principles in the United States ("GAAP") and under the rules and regulations of the United States Securities and Exchange Commission ("SEC") for interim reporting. The accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, that are necessary to present fairly the Company's financial position, results of operations, and cash flows. The condensed consolidated results of operations are not necessarily indicative of the results that may occur for the full fiscal year. Certain information and footnote disclosures of the Company normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted under the SEC's rules and regulations. These condensed consolidated financial statements should be read in conjunction with the audited financial statements and accompanying notes thereto for the year ended December 31, 2025, included in the Company's Annual Report on Form 10-K, as amended, originally filed with the SEC on March 25, 2026 (the "2025 Annual Report"). These condensed consolidated financial statements include the financial statements of the Company and its subsidiaries, SkinJect, Inc. (“SkinJect”), Medicus Pharma Inc., Antev Limited ("Antev") and MDCX Holdings, LLC. All intercompany balances and transactions have been eliminated on consolidation. Non-controlling interest in the consolidated financial statements represents the portion of Antev not 100% owned by the Company. The functional currency of the Company and its three wholly-owned subsidiaries, SkinJect, Inc., Medicus Pharma Inc. and MDCX Holdings, LLC is the United States dollar (USD). The functional currency of the Company's other subsidiary, Antev is Pound Sterling (GBP). Foreign operations remeasurement and translation Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions, and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates, are generally recognized in the condensed consolidated statements of operations and comprehensive loss. The results and financial position of foreign operation which has functional currency different from presentation currency are translated into the presentation currency as follows: assets and liabilities are translated at the closing rate at the date of that statement of financial position, income and expenses are translated at average exchange rates, and all resulting translated exchange differences are recognized in a separate component of other comprehensive loss within the condensed consolidated statement of changes in shareholders equity. Use of estimates The preparation of these condensed consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements, and the reported amounts of income and expenses during the reporting period. Such estimates include the valuation of stock-based awards, the incremental borrowing rate used to discount the Company's operating lease liabilities, fair value of the Company's debentures and secured promissory notes and warrants, and valuation allowance on deferred tax assets, all of which are management's best estimates. Estimates are based on historical experience, where applicable, and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. By their nature, these estimates are subject to measurement uncertainty and the effect on the financial statements of changes in estimates in future years could be significant. Management believes that the estimates utilized in preparing the financial statements are reasonable, however, actual results could differ from those estimates. <div> <div></div> </div> Operating segments Operating segments are identified as components of an entity about which separate discrete financial information is available for evaluation by the chief operating decision-maker ("CODM") in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business in one operating segment. Recently issued accounting pronouncements In November 2024, the FASB issued ASU 2024-03 "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures" to provide greater transparency about the components of specific expense categories in the income statements. The effective dates of ASU 2024-03 were subsequently clarified by ASU 2025-01. ASU 2025-01 is effective for our annual period beginning January 1, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting the amendment on the Company's financial statements. There were no other significant updates to the recently issued accounting standards which may be applicable to the Company. Although there are several other new accounting pronouncements issued or proposed by the FASB, the Company does not believe any of those accounting pronouncements have had or will have a material impact on its financial position or operating results.

Basis of presentation and consolidation The accompanying unaudited condensed consolidated financial statements included herein have been prepared in conformity with generally accepted accounting principles in the United States ("GAAP") and under the rules and regulations of the United States Securities and Exchange Commission ("SEC") for interim reporting. The accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, that are necessary to present fairly the Company's financial position, results of operations, and cash flows. The condensed consolidated results of operations are not necessarily indicative of the results that may occur for the full fiscal year. Certain information and footnote disclosures of the Company normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted under the SEC's rules and regulations. These condensed consolidated financial statements should be read in conjunction with the audited financial statements and accompanying notes thereto for the year ended December 31, 2025, included in the Company's Annual Report on Form 10-K, as amended, originally filed with the SEC on March 25, 2026 (the "2025 Annual Report"). These condensed consolidated financial statements include the financial statements of the Company and its subsidiaries, SkinJect, Inc. (“SkinJect”), Medicus Pharma Inc., Antev Limited ("Antev") and MDCX Holdings, LLC. All intercompany balances and transactions have been eliminated on consolidation. Non-controlling interest in the consolidated financial statements represents the portion of Antev not 100% owned by the Company. The functional currency of the Company and its three wholly-owned subsidiaries, SkinJect, Inc., Medicus Pharma Inc. and MDCX Holdings, LLC is the United States dollar (USD). The functional currency of the Company's other subsidiary, Antev is Pound Sterling (GBP).

Use of estimates The preparation of these condensed consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements, and the reported amounts of income and expenses during the reporting period. Such estimates include the valuation of stock-based awards, the incremental borrowing rate used to discount the Company's operating lease liabilities, fair value of the Company's debentures and secured promissory notes and warrants, and valuation allowance on deferred tax assets, all of which are management's best estimates. Estimates are based on historical experience, where applicable, and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. By their nature, these estimates are subject to measurement uncertainty and the effect on the financial statements of changes in estimates in future years could be significant. Management believes that the estimates utilized in preparing the financial statements are reasonable, however, actual results could differ from those estimates.

<div> 3. Balance sheet components Prepaid expenses and other current assets include the following: <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;border-top:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;border-top:0.75pt solid #000000;white-space:nowrap">September 30, 2026</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;border-top:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;border-top:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;border-top:0.75pt solid #000000;white-space:nowrap">December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;border-top:0.75pt solid #000000;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Insurance</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">345,084</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Contract research organizations</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">390,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">410,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Professional services</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">312,275</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">300,033</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">VAT receivable</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">625,992</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Prepaid services</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">24,342</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">31,004</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">1,352,609</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">1,086,121</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> </tr> </table> Accrued expenses and other current liabilities include the following: <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap">September 30, 2026</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Accrued legal fees</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">264,891</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">352,864</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom">Accrued compensation and benefits</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">216,002</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">300,181</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Accrued other</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">567,932</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">342,245</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">1,048,825</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">995,290</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> </tr> </table> </div>

<table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;border-top:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;border-top:0.75pt solid #000000;white-space:nowrap">September 30, 2026</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;border-top:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;border-top:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;border-top:0.75pt solid #000000;white-space:nowrap">December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;border-top:0.75pt solid #000000;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Insurance</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">345,084</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Contract research organizations</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">390,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">410,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Professional services</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">312,275</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">300,033</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">VAT receivable</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">625,992</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Prepaid services</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">24,342</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">31,004</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">1,352,609</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">1,086,121</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> </tr> </table>

345084

390000 410000 312275 300033

625992

24342 31004

1352609

1086121

<table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap">September 30, 2026</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Accrued legal fees</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">264,891</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">352,864</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom">Accrued compensation and benefits</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">216,002</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">300,181</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Accrued other</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">567,932</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">342,245</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">1,048,825</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">995,290</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> </tr> </table>

264891

352864

216002

300181

567932

342245

1048825

995290

4. Leases As of September 30, 2026, the Company had one operating lease for its corporate office that commenced in 2024, for which the Company recorded a right-of-use asset and lease liability as of the commencement date. The Company's lease does not contain a purchase option. Where the Company's lease contains an option to extend the lease term, the extended lease term is only included in the measurement of the lease when it is reasonably certain to remain in the lease beyond the non-cancellable term. The Company's lease also contains variable lease costs, which pertain to common area maintenance and other operating charges, that are expensed as incurred. Balance sheet information related to the Company's lease is presented below: <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> As of September 30, 2026 </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> As of December 31, 2025 </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Operating lease</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom">Operating lease right-of-use assets</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">89,240</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">170,733</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;background-color:rgb(230, 239, 255)">Operating lease liabilities - current</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">107,926</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">145,456</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom">Operating lease liabilities - non-current</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">60,139</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> </table> Other information related to leases is presented below: <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td colspan="4" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center">Nine months ended September 30,</td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify">2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify">2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Lease cost</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Operating lease cost</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">92,833</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">92,483</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Other information</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Operating cash flows used in operating leases</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(109,009</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(106,171</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Remaining lease term (in years)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.75</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">1.75</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Discount rate</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">10%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">10%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> </table> As of September 30, 2026, the annual future minimum lease payments of the Company's operating lease liabilities were as follows: <div> <table cellpadding="0" cellspacing="0" style="width:60%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;background-color:#e6efff;text-align:justify">2026</td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:justify"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right">37,174</td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">2027</td> <td style="vertical-align:bottom;text-align:justify;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right">74,348</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;background-color:#e6efff;text-align:justify">Total future minimum lease payments, undiscounted</td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:justify"> </td> <td style="vertical-align:bottom;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:right">111,522</td> <td style="vertical-align:bottom;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Present value discount</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right">(3,596</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0)">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Total lease liability</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%;background-color:#e6efff">107,926</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div>

<table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> As of September 30, 2026 </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> As of December 31, 2025 </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Operating lease</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom">Operating lease right-of-use assets</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">89,240</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">170,733</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;background-color:rgb(230, 239, 255)">Operating lease liabilities - current</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">107,926</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">145,456</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom">Operating lease liabilities - non-current</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">60,139</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> </table>

89240

170733

107926

145456

60139

<table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td colspan="4" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center">Nine months ended September 30,</td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify">2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify">2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Lease cost</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Operating lease cost</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">92,833</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">92,483</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Other information</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Operating cash flows used in operating leases</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(109,009</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(106,171</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Remaining lease term (in years)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">0.75</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">1.75</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Discount rate</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">10%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">10%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> </table>

92833

92483

109009

106171

P0Y9M

P1Y9M

0.10

<div> <table cellpadding="0" cellspacing="0" style="width:60%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;background-color:#e6efff;text-align:justify">2026</td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:justify"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right">37,174</td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">2027</td> <td style="vertical-align:bottom;text-align:justify;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right">74,348</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;background-color:#e6efff;text-align:justify">Total future minimum lease payments, undiscounted</td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:justify"> </td> <td style="vertical-align:bottom;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:right">111,522</td> <td style="vertical-align:bottom;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Present value discount</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right">(3,596</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0)">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Total lease liability</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%;background-color:#e6efff">107,926</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div>

37174

74348

111522

3596

107926

<div> 5. Share capital <div> Authorized The Company has authorized an unlimited number of common shares participating, voting and without nominal or par value. Each holder of common shares is entitled to one vote for each share owned on all matters voted upon by shareholders. Share Consolidation At the Company's 2026 Annual General meeting and Special Meeting held on June 3, 2026, the Company's shareholders approved a proposal authorizing the Company's board of directors to effect a consolidation of the common shares at a ratio of up to 50-to-1. Subsequently, the Company's board of directors approved a share consolidation of the Company's common shares on a 50-to-1 basis, which became effective on October 12, 2026. <div style="margin-top:0pt;margin-bottom:0pt"></div> As a result of the share consolidation, every 50 pre-split common shares issued and outstanding were automatically combined into one new common share. No fractional common shares were issued in connection with the consolidation. Shareholders who otherwise were entitled to receive a fractional share because they held a number of shares not evenly divisible by the share consolidation ratio were rounded down to the next whole share with cash paid in lieu of such fractional shares. Pursuant to the anti-dilution provisions of the Company's option and warrant agreements, the 50-to-1 share consolidation proportionally adjusted the terms of all outstanding options and warrants, so that 50 options or warrants are now required to purchase one common share. Accordingly, the number of options and warrants outstanding remain unchanged under the original agreements. However, the number of common shares that the options and warrants can be exercised for were adjusted to reflect the share consolidation. All share, option, warrant and per share amounts in the accompanying unaudited condensed consolidated financial statements and related notes have been retroactively adjusted to reflect the share consolidation for all periods presented. Regulation A Offering On March 10, 2025, the Company closed a Tier II Regulation A offering for gross proceeds of $4,172,000. The Company issued 29,800 units at a price of $140 per unit. Each unit consisted of one common share of the Company and one warrant to purchase one common share of the Company (each a "Regulation A Warrant"). The Regulation A Warrants have an exercise price of $140 per share and will expire 5 years from the date of issuance on March 10, 2030. The Company incurred total issuance costs of $483,020, including legal fees and placement fees directly related to the issuance. The issuance costs incurred were recognized as a reduction in equity and allocated based on the relative fair values of the Regulation A Warrants and common shares on a standalone basis. The fair value of the common shares was based on the Company's share price on the day of issuance of $170 and the fair value of the Regulation A Warrants was $131.50 per warrant. The Regulation A Warrants were recognized in additional paid-in capital as they met the criteria for equity classification. The Company's Regulation A Warrants are not actively traded and are therefore classified as Level 3 within the fair value hierarchy. The fair value of these warrants is estimated using a Black-Scholes option pricing model. The valuation incorporates significant unobservable inputs and management judgment. As of September 30, 2026, 29,476 of the 29,800 Regulation A Warrants have been exercised for cash for proceeds to the Company of $4,126,639. No Regulation A Warrants were exercised during the nine months ended September 30, 2026. The fair value of the Regulation A Warrants were estimated using the Black-Scholes model with the following assumptions: <div> <table cellpadding="0" cellspacing="0" style="width:50%;border-collapse:collapse;font-size:10pt;border-color:#000000;margin-left:auto;margin-right:auto"> <tr> <td style="vertical-align:bottom;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Issue Date March 10, 2025 </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Valuation date share price</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">170</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Exercise price</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">140</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Dividend yield</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Risk-free interest rate</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">3.98%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Expected warrant life</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5.00 years</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Expected volatility</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">97.81%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> </table> </div> <div style="margin-top:0pt;margin-bottom:0pt"></div> Warrant activity as below: <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap">Number of common share warrants outstanding</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap">Weighted average exercise price $</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> Weighted average remaining life (years)</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Outstanding as at December 31, 2025</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">145,636</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">135</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">4.90</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Warrants granted</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Warrants exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify">Total Warrants outstanding as at September 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">145,636</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">135</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">4.16</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> The number of warrants outstanding as at the nine months ended September 30, 2026: <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:25.74%;vertical-align:top;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td colspan="4" style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:middle;border-bottom:0.75pt solid #000000;white-space:nowrap"> Warrants outstanding </td> </tr> <tr> <td style="width:25.74%;vertical-align:middle;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="width:19.34%;vertical-align:middle;border-bottom:0.75pt solid #000000;white-space:nowrap"> Expiry date </td> <td style="width:16.6%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> Exercise price </td> <td style="width:23.18%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> Number outstanding </td> <td style="width:15.12%;vertical-align:middle;border-bottom:0.75pt solid #000000;white-space:nowrap"> Number exercisable </td> </tr> <tr> <td style="width:25.74%;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000"> Warrants issued as part of the IPO </td> <td style="width:19.34%;vertical-align:middle;background-color:#e6efff;border-top:0.75pt solid #000000"> November 15, 2029 </td> <td style="width:16.6%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000"> $ 232 </td> <td style="width:23.18%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000"> 19,712 </td> <td style="width:15.12%;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000"> 19,712 </td> </tr> <tr> <td style="width:25.74%;vertical-align:top"> Regulation A Warrants </td> <td style="width:19.34%;vertical-align:middle"> March 10, 2030 </td> <td style="width:16.6%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top"> $ 140 </td> <td style="width:23.18%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top"> 324 </td> <td style="width:15.12%;vertical-align:top"> 324 </td> </tr> <tr> <td style="width:25.74%;vertical-align:top;background-color:#e6efff"> June 30, 2030 Warrants </td> <td style="width:19.34%;vertical-align:middle;background-color:#e6efff"> June 2, 2030 </td> <td style="width:16.6%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;background-color:#e6efff"> $ 155 </td> <td style="width:23.18%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;background-color:#e6efff"> 45,200 </td> <td style="width:15.12%;vertical-align:top;background-color:#e6efff"> 45,200 </td> </tr> <tr> <td style="width:25.74%;vertical-align:top"> Series C and D Warrants </td> <td style="width:19.34%;vertical-align:middle"> June 5, 2031 </td> <td style="width:16.6%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top"> $ 100 </td> <td style="width:23.18%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top"> 80,400 </td> <td style="width:15.12%;vertical-align:top"> 80,400 </td> </tr> </table> </div> Standby Equity Purchase Agreement and At the market program On February 10, 2025, the Company also announced that it had entered into a standby equity purchase agreement (the "SEPA") with YA II PN, Ltd. ("Yorkville"). Pursuant to the SEPA and subject to the satisfaction of certain conditions, Yorkville was committed to purchase the Company's common shares in increments up to an aggregate gross sales price of $15,000,000 during the 36 months following the date of the SEPA (such shares, the "Shares"). The Shares were to be sold at the Company's option pursuant to the SEPA at 97% of the Market Price (as defined pursuant to the SEPA) and purchases were subject to certain limitations set forth in the SEPA. For the nine months ended September 30, 2026, the Company issued 106,735 common shares pursuant to the SEPA at market prices for gross proceeds of $4,229,823 and net proceeds of $4,102,740. During the nine months ended September 30, 2026, $3,223,980 of the gross proceeds received under the SEPA were held back to partially repay the Company's Yorkville debenture and related interest obligations. The Company and YA II PN, LTD mutually agreed to terminate the SEPA, effective September 11, 2026. On December 29, 2025, the Company entered into an equity distribution agreement (the "ATM Agreement") with Maxim Group LLC and Yorkville Securities LLC ("Yorkville Securities" and together with Maxim Group LLC, the "Agents") to create an at-the-market equity program (the "ATM"). Under the ATM Agreement, the Company may offer and sell its common shares from time to time through the Agents. The Company agreed to pay the Agents a commission equal to 3% of the gross sales from the sales of the shares pursuant to the ATM Agreement. For the nine months ended September 30, 2026, the Company has issued 1,035,449 common shares as part of the program. The gross proceeds from the issuance were $17,770,248. </div> </div>

At the Company's 2026 Annual General meeting and Special Meeting held on June 3, 2026, the Company's shareholders approved a proposal authorizing the Company's board of directors to effect a consolidation of the common shares at a ratio of up to 50-to-1. Subsequently, the Company's board of directors approved a share consolidation of the Company's common shares on a 50-to-1 basis, which became effective on October 12, 2026.

4172000

29800

140

140 P5Y

483020

170 131.5 29476 29800

4126639

<div> <table cellpadding="0" cellspacing="0" style="width:50%;border-collapse:collapse;font-size:10pt;border-color:#000000;margin-left:auto;margin-right:auto"> <tr> <td style="vertical-align:bottom;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Issue Date March 10, 2025 </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Valuation date share price</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">170</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Exercise price</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">140</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Dividend yield</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Risk-free interest rate</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">3.98%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Expected warrant life</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5.00 years</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Expected volatility</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">97.81%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> </table> </div>

170

140

0.0398

97.81

<div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap">Number of common share warrants outstanding</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap">Weighted average exercise price $</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> Weighted average remaining life (years)</td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Outstanding as at December 31, 2025</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">145,636</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">135</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">4.90</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Warrants granted</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Warrants exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify">Total Warrants outstanding as at September 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">145,636</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">135</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">4.16</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div>

145636

135 P4Y10M24D 0 0 0 0

145636

135 P4Y1M28D

<div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:25.74%;vertical-align:top;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td colspan="4" style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:middle;border-bottom:0.75pt solid #000000;white-space:nowrap"> Warrants outstanding </td> </tr> <tr> <td style="width:25.74%;vertical-align:middle;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="width:19.34%;vertical-align:middle;border-bottom:0.75pt solid #000000;white-space:nowrap"> Expiry date </td> <td style="width:16.6%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> Exercise price </td> <td style="width:23.18%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> Number outstanding </td> <td style="width:15.12%;vertical-align:middle;border-bottom:0.75pt solid #000000;white-space:nowrap"> Number exercisable </td> </tr> <tr> <td style="width:25.74%;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000"> Warrants issued as part of the IPO </td> <td style="width:19.34%;vertical-align:middle;background-color:#e6efff;border-top:0.75pt solid #000000"> November 15, 2029 </td> <td style="width:16.6%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000"> $ 232 </td> <td style="width:23.18%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000"> 19,712 </td> <td style="width:15.12%;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000"> 19,712 </td> </tr> <tr> <td style="width:25.74%;vertical-align:top"> Regulation A Warrants </td> <td style="width:19.34%;vertical-align:middle"> March 10, 2030 </td> <td style="width:16.6%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top"> $ 140 </td> <td style="width:23.18%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top"> 324 </td> <td style="width:15.12%;vertical-align:top"> 324 </td> </tr> <tr> <td style="width:25.74%;vertical-align:top;background-color:#e6efff"> June 30, 2030 Warrants </td> <td style="width:19.34%;vertical-align:middle;background-color:#e6efff"> June 2, 2030 </td> <td style="width:16.6%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;background-color:#e6efff"> $ 155 </td> <td style="width:23.18%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;background-color:#e6efff"> 45,200 </td> <td style="width:15.12%;vertical-align:top;background-color:#e6efff"> 45,200 </td> </tr> <tr> <td style="width:25.74%;vertical-align:top"> Series C and D Warrants </td> <td style="width:19.34%;vertical-align:middle"> June 5, 2031 </td> <td style="width:16.6%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top"> $ 100 </td> <td style="width:23.18%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top"> 80,400 </td> <td style="width:15.12%;vertical-align:top"> 80,400 </td> </tr> </table> </div>

November 15, 2029

232

19712

19712 March 10, 2030

140

324

324 June 2, 2030

155

45200

45200 June 5, 2031

100

80400

15000000

0.97

106735

4229823

4102740

3223980 0.03

1035449

17770248

<div> 6. Stock-based compensation <div> At September 30, 2026, the Company had in place a stock option plan for employee, non-employee directors, and consultants of the Company (the "Plan"). The Plan provides both for the direct award or sale of shares and for the grant of options to purchase shares. Under the plan, the total number of shares available for options cannot exceed 10% of the Company's issued and outstanding common shares at the time of any grant. The Company is authorized to issue options to employees, non-employee directors and consultants under the plan. <div style="margin-top:0pt;margin-bottom:0pt"></div> On March 30, 2026, the Company issued 19,500 stock options to directors, officers, and employees of the Company. The options are exercisable at $25 per share, expire five years from the grant date, and vest quarterly over a one-year period. On June 3, 2026, the Company issued an additional 41,500 stock options to directors, officers, and employees of the Company. The options are exercisable at $18 per share, expire five years from the grant date, and vest quarterly over a one-year period. On September 4, 2026, the Company issued 29,000 options to directors, officers and employees of the Company. The options are exercisable at $8.53 per share, expire five years from the grant date, and vest quarterly over a one year period. On September 27, 2026, the Company issued 1,000 options to a consultant of the Company. The options are exercisable at $7.50 per share, expire five years from the grant date, and vest quarterly over a one year period. During the three months ended June 30, 2026, the Company accelerated the vesting of all outstanding options, other than 41,500 options that were granted during the second quarter of 2026. This resulted in additional share-based compensation of $699,834. The following table summarizes option transactions for the Plan: <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;white-space:nowrap;text-align:justify"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">Number of options</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">Weighted average exercise price $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">Weighted average remaining contractual life (years)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">Aggregate intrinsic value $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Outstanding at December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">23,700</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">73.50</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">4.18</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">59</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Granted</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">16,500</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">149.50</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">4.81</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">(2,900</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">55.50</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Forfeited</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">(150</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">138</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Outstanding at September 30, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">37,150</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">108.50</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">4.06</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">7.5</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Exercisable at September 30, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">22,650</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">80.50</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">3.57</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">35</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Unvested at September 30, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">14,500</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">152</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">4.18</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Outstanding at December 31, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">50,100</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">102.72</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">2.75</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:21.2pt;vertical-align:bottom;text-align:justify">Granted</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">91,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">16.37</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">4.72</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:21.2pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Forfeited</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">(900</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">43.91</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Outstanding at September 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%">140,200</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%">46.76</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%">4.25</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Exercisable at September 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">79,075</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">72.59</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">3.82</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Unvested at September 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%">61,125</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%">13.33</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%">4.80</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> As of September 30, 2026, there were $542,574 of unrecognized stock-based compensation cost related to share options outstanding, which is expected to be recognized over a weighted-average period of 0.80 years. The weighted average grant date fair value of awards for options granted during the nine months ended September 30, 2026, was $10.74. The fair value of options granted was estimated using the Black-Scholes option pricing model, resulting in the following weighted average assumptions for the options granted: <div> <table cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> September 30, 2026 Weighted-average </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Exercise price</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">16.37</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Share price</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">15.33</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Dividend</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Risk-free interest rate</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">4.27%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Estimated life (in years)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Expected volatility</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">129.93%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> </table> </div> For the three and nine months ended September 30, 2026, stock-based compensation expense was $131,775 and $2,136,908. For the three and nine months ended September 30, 2025, stock-based compensation expense was $852,757 and $1,082,482. Stock-based compensation expense has been reported in the Company's condensed consolidated statements of operations and comprehensive loss within the line items 'general and administrative' expenses. </div> </div>

0.10

19500

P5Y

P1Y

41500

P5Y

P1Y

29000

8.53

P5Y

P1Y

1000

7.5

P5Y

P1Y

41500

699834

<table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;white-space:nowrap;text-align:justify"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">Number of options</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">Weighted average exercise price $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">Weighted average remaining contractual life (years)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">Aggregate intrinsic value $</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Outstanding at December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">23,700</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">73.50</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">4.18</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">59</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Granted</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">16,500</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">149.50</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">4.81</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">(2,900</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">55.50</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Forfeited</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">(150</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">138</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Outstanding at September 30, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">37,150</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">108.50</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">4.06</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">7.5</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Exercisable at September 30, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">22,650</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">80.50</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">3.57</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">35</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Unvested at September 30, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">14,500</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">152</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">4.18</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Outstanding at December 31, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">50,100</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">102.72</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">2.75</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:21.2pt;vertical-align:bottom;text-align:justify">Granted</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">91,000</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">16.37</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">4.72</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:21.2pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Forfeited</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">(900</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">43.91</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Outstanding at September 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%">140,200</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%">46.76</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%">4.25</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Exercisable at September 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">79,075</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">72.59</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">3.82</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.75pt;padding-left:5.75pt;vertical-align:bottom;text-align:justify">Unvested at September 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%">61,125</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%">13.33</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%">4.80</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table>

23700

73.5

P4Y2M4D

16500

149.5

P4Y9M21D

2900

55.5

150

138

37150

108.5

P4Y21D

7.5

22650

80.5

P3Y6M25D

14500

152

P4Y2M4D

50100

102.72

P2Y9M

91000

16.37

P4Y8M19D

900

43.91

140200

46.76

P4Y3M

79075

72.59

P3Y9M25D

61125

13.33

P4Y9M18D

542574

P0Y9M18D

10.74

<div> <table cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> September 30, 2026 Weighted-average </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Exercise price</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">16.37</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Share price</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">15.33</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Dividend</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Risk-free interest rate</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">4.27%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff">Estimated life (in years)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:justify">Expected volatility</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">129.93%</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> </table> </div>

16.37

15.33

0.0427

P5Y

1.2993

131775

2136908

852757

1082482

125000

100000

375000

300000

1125000

900000

132205 128879 281310 233790

162649

194152

13094830

8705218

<table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;white-space:nowrap;text-align:justify"> </td> <td colspan="1" style="vertical-align:bottom;white-space:nowrap;text-align:center;border-bottom:0.75pt solid #000000"> </td> <td colspan="10" style="vertical-align:bottom;white-space:nowrap;text-align:center;border-bottom:0.75pt solid #000000">September 30, 2026</td> <td colspan="1" style="vertical-align:bottom;white-space:nowrap;text-align:center;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:justify;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:justify;border-bottom:0.75pt solid #000000">Level 1</td> <td style="vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:justify;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:justify;border-bottom:0.75pt solid #000000">Level 2</td> <td style="vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:justify;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:justify;border-bottom:0.75pt solid #000000">Level 3</td> <td style="vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:justify;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:justify;border-bottom:0.75pt solid #000000">Total</td> <td style="vertical-align:bottom;text-align:justify;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;background-color:#e6efff">Current assets:</td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:27pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt">Money market funds</td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:10%">3,663,521</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:10%">3,663,521</td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;background-color:#e6efff">Non-current assets: Money market funds - Restricted cash</td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:10%;background-color:#e6efff">8,075,075</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:10%;background-color:#e6efff">8,075,075</td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:52.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt">Total assets measured at fair value</td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double #000000;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:2.25pt double #000000;width:10%">11,738,596</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double #000000;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:2.25pt double #000000;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double #000000;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:2.25pt double #000000;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double #000000;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:2.25pt double #000000;width:10%">11,738,596</td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double #000000;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;white-space:nowrap;text-align:justify"> </td> <td colspan="1" style="vertical-align:bottom;white-space:nowrap;text-align:left;width:1%"> </td> <td colspan="10" style="vertical-align:bottom;white-space:nowrap;width:10%;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;white-space:nowrap;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;white-space:nowrap;text-align:justify"> </td> <td colspan="1" style="vertical-align:bottom;white-space:nowrap;text-align:left;border-bottom:0.75pt solid #000000;width:1%"> </td> <td colspan="10" style="vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000;width:10%;text-align:center">December 31, 2025</td> <td colspan="1" style="vertical-align:bottom;white-space:nowrap;text-align:left;border-bottom:0.75pt solid #000000;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;width:10%;text-align:left">Level 1</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;width:10%;text-align:left">Level 2</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;width:10%;text-align:left">Level 3</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;width:10%;text-align:left">Total</td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;background-color:#e6efff">Current assets:</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:27pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt">Money market funds</td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:10%">7,812,918</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:10%">7,812,918</td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:52.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;background-color:#e6efff">Total assets measured at fair value</td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double #000000;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:2.25pt double #000000;width:10%;background-color:#e6efff">7,812,918</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double #000000;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:2.25pt double #000000;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double #000000;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:2.25pt double #000000;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double #000000;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:2.25pt double #000000;width:10%;background-color:#e6efff">7,812,918</td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double #000000;width:2%;background-color:#e6efff"> </td> </tr> </table>

3663521

8075075

11738596

7812918

<div> <div> <div> 9. Commitments and contingencies <div> Commitments As part of the acquisition of Antev, the Company may be required to make future payments contingent on the achievement of specified milestones. These potential payments represent a commitment and may result in future cash outflows. As these milestones conditions are not considered probable, the Company has not recognized liability related to the contingent consideration. Pursuant to the terms of the Antev Acquisition, the Company acquired 98.60% of ownership in Antev including all the assets and its In-Process Research and Development (IPR&D) - Teverelix. There was additional contingent consideration based on the following development milestones of the IPR&D: <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:33.82%;vertical-align:top;background-color:#e6efff;white-space:nowrap"> Phases </td> <td style="width:1.48%;vertical-align:top;background-color:#e6efff;white-space:nowrap"> </td> <td style="width:32.86%;vertical-align:top;background-color:#e6efff;white-space:nowrap"> Contingent Consideration agreed for Antev shares acquired through issue of shares </td> <td style="width:1.5%;vertical-align:top;background-color:#e6efff;white-space:nowrap"> </td> <td style="width:30.34%;vertical-align:top;background-color:#e6efff;white-space:nowrap"> Contingent Consideration agreed for Antev shares acquired by cash payment </td> </tr> <tr> <td style="width:33.82%;vertical-align:top"> (i) Advanced Prostate Cancer - Phase 2 success or registration </td> <td style="width:1.48%;vertical-align:top"> </td> <td style="width:32.86%;vertical-align:top"> $100 per common share issued </td> <td style="width:1.5%;vertical-align:top"> </td> <td style="width:30.34%;vertical-align:top"> $1.47 per Antev share (pro rata interest in $5,333,200) </td> </tr> <tr> <td style="width:33.82%;vertical-align:top;background-color:#e6efff"> (ii)Acute Urinary Retention Prevention - Phase 2 success or registration </td> <td style="width:1.48%;vertical-align:top;background-color:#e6efff"> </td> <td style="width:32.86%;vertical-align:top;background-color:#e6efff"> $375 per common share issued </td> <td style="width:1.5%;vertical-align:top;background-color:#e6efff"> </td> <td style="width:30.34%;vertical-align:top;background-color:#e6efff"> $5.52 per Antev share (pro rata interest in $19,999,500) </td> </tr> <tr> <td style="width:33.82%;vertical-align:top"> (iii) FDA NDA approval - Hormone therapy for prostate cancer </td> <td style="width:1.48%;vertical-align:top"> </td> <td style="width:32.86%;vertical-align:top"> Up to $20,000,000 (subject to pro rata reduction) </td> <td style="width:1.5%;vertical-align:top"> </td> <td style="width:30.34%;vertical-align:top"> $5.52 per Antev share (pro rata interest in $20,000,000) </td> </tr> <tr> <td style="width:33.82%;vertical-align:top;background-color:#e6efff"> (iv) FDA NDA approval - AUR prevention </td> <td style="width:1.48%;vertical-align:top;background-color:#e6efff"> </td> <td style="width:32.86%;vertical-align:top;background-color:#e6efff"> Up to $20,000,000 (subject to pro rata reduction) </td> <td style="width:1.5%;vertical-align:top;background-color:#e6efff"> </td> <td style="width:30.34%;vertical-align:top;background-color:#e6efff"> $5.52 per Antev share (pro rata interest in $20,000,000) </td> </tr> </table> </div> As described in Note 10, the Company entered into a Co-Development and License Agreement with Pfizer Inc. ("Pfizer"). Under the agreement the pharmaceutical company is eligible to receive development and regulatory milestone payments upon the achievement of specified clinical and regulatory events across multiple indications, as well as sales-based milestone payments upon the achievement of specified annual and cumulative net sales threshold. Pfizer is eligible to receive tiered royalties on annual net sales of products on a product-by-product and country-by-country basis during the royalty term. The aggregate potential, regulatory and sales milestone payments under Co-Development and License Agreement exceed $1.0 billion, assuming achievement of all applicable milestones across multiple indications and commercial thresholds. As of September 30, 2026, the Company had no other long-term commitments. Contingencies In the ordinary course of business, from time to time, the Company may be involved in various claims related to operations, rights, commercial, employment or other claims. Although such matters cannot be predicted with certainty, management does not consider the Company's exposure to such claims to be material to these consolidated financial statements. </div> </div> </div> </div>

0.986

<div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:33.82%;vertical-align:top;background-color:#e6efff;white-space:nowrap"> Phases </td> <td style="width:1.48%;vertical-align:top;background-color:#e6efff;white-space:nowrap"> </td> <td style="width:32.86%;vertical-align:top;background-color:#e6efff;white-space:nowrap"> Contingent Consideration agreed for Antev shares acquired through issue of shares </td> <td style="width:1.5%;vertical-align:top;background-color:#e6efff;white-space:nowrap"> </td> <td style="width:30.34%;vertical-align:top;background-color:#e6efff;white-space:nowrap"> Contingent Consideration agreed for Antev shares acquired by cash payment </td> </tr> <tr> <td style="width:33.82%;vertical-align:top"> (i) Advanced Prostate Cancer - Phase 2 success or registration </td> <td style="width:1.48%;vertical-align:top"> </td> <td style="width:32.86%;vertical-align:top"> $100 per common share issued </td> <td style="width:1.5%;vertical-align:top"> </td> <td style="width:30.34%;vertical-align:top"> $1.47 per Antev share (pro rata interest in $5,333,200) </td> </tr> <tr> <td style="width:33.82%;vertical-align:top;background-color:#e6efff"> (ii)Acute Urinary Retention Prevention - Phase 2 success or registration </td> <td style="width:1.48%;vertical-align:top;background-color:#e6efff"> </td> <td style="width:32.86%;vertical-align:top;background-color:#e6efff"> $375 per common share issued </td> <td style="width:1.5%;vertical-align:top;background-color:#e6efff"> </td> <td style="width:30.34%;vertical-align:top;background-color:#e6efff"> $5.52 per Antev share (pro rata interest in $19,999,500) </td> </tr> <tr> <td style="width:33.82%;vertical-align:top"> (iii) FDA NDA approval - Hormone therapy for prostate cancer </td> <td style="width:1.48%;vertical-align:top"> </td> <td style="width:32.86%;vertical-align:top"> Up to $20,000,000 (subject to pro rata reduction) </td> <td style="width:1.5%;vertical-align:top"> </td> <td style="width:30.34%;vertical-align:top"> $5.52 per Antev share (pro rata interest in $20,000,000) </td> </tr> <tr> <td style="width:33.82%;vertical-align:top;background-color:#e6efff"> (iv) FDA NDA approval - AUR prevention </td> <td style="width:1.48%;vertical-align:top;background-color:#e6efff"> </td> <td style="width:32.86%;vertical-align:top;background-color:#e6efff"> Up to $20,000,000 (subject to pro rata reduction) </td> <td style="width:1.5%;vertical-align:top;background-color:#e6efff"> </td> <td style="width:30.34%;vertical-align:top;background-color:#e6efff"> $5.52 per Antev share (pro rata interest in $20,000,000) </td> </tr> </table> </div>

100

1.47

5333200

375

5.52

19999500

20000000

5.52

20000000

5.52

20000000

1000000000

12000000

2000000 2000000

10000000

15000000

<div> 11. Segment reporting Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the chief operating decision maker ("CODM") in deciding how to allocate resources to an individual segment and in assessing performance. The Company manages the business activities on a consolidated basis and operates as one reportable segment that constitutes all of the consolidated entity, which is the business of advancing the clinical development program of the Company's product, while opportunistically identifying, evaluating, and acquiring accretive assets, properties or businesses. The Company's CODM is its Chief Executive Officer. The accounting policies of the segment are the same as those described in the summary of significant accounting policies. The CODM uses consolidated net loss to measure segment loss, allocate resources and assess performance. Additionally, the CODM reviews cash forecast models to determine where the Company will invest in planned research and development activities. As the Company's operations are comprised of a single reporting segment, the segment assets are reflected on the accompanying condensed consolidated balance sheet as Total Assets. Segment asset information is not used by the CODM to allocate resources. <div style="margin-top:0pt;margin-bottom:0pt"></div> The following table is representative of the significant expense categories regularly provided to the CODM when managing the Company's single reporting segment. A reconciliation to consolidated operating expenses as the Company's single segment operating loss for the three and nine months ended September 30, 2026 and 2025 is included in the table below: <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap"> </td> <td colspan="2" style="width:36%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:center;white-space:nowrap">Three Months Ended September 30,</td> <td colspan="2" style="width:38%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:center;white-space:nowrap">Nine Months Ended September 30,</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap"> </td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:center;white-space:nowrap">2026</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:center;white-space:nowrap">2025</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:center;white-space:nowrap">2026</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:center;white-space:nowrap">2025</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;background-color:#e6efff">Research and development expenses:</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt">SkinJect</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right"> </td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right"> </td> </tr> <tr> <td style="width:24%;padding-right:5.4pt;padding-left:41.4pt;vertical-align:top;background-color:#e6efff">Clinical, manufacturing and regulatory activities</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">464,223</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">1,114,470</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">2,475,511</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">3,568,401</td> </tr> <tr> <td style="width:24%;padding-right:5.4pt;padding-left:41.4pt;vertical-align:top">Professional services and intellectual property</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">51,558</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">49,092</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">196,785</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">165,770</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;background-color:#e6efff">Teverelix</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> </tr> <tr> <td style="width:24%;padding-right:5.4pt;padding-left:41.4pt;vertical-align:top">Clinical, manufacturing and regulatory activities</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">(1,389,137)</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">1,238</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">2,460,885</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">1,238</td> </tr> <tr> <td style="width:24%;padding-right:5.4pt;padding-left:41.4pt;vertical-align:top;background-color:#e6efff">Professional services and intellectual property</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">37,358</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">-</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">115,699</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">-</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt">CD228V</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right"> </td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right"> </td> </tr> <tr> <td style="width:24%;padding-right:5.4pt;padding-left:41.4pt;vertical-align:top;background-color:#e6efff">Professional services and intellectual property</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">80,649</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">-</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">80,649</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">-</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;border-bottom:0.75pt solid #000000">Salaries and benefits</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right">2,708,130</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right">519,983</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right">4,235,336</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right">1,395,152</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;padding-left:3pt;background-color:#e6efff">Total research and development expenses</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff">1,952,780</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff">1,684,783</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff">9,564,865</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff">5,130,561</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt">Total general and administrative expenses</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">2,507,476</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">5,024,082</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">14,971,257</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">12,720,666</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;border-bottom:0.75pt solid #000000;background-color:#e6efff">Total In-Process Research and Development (IPR&D) expenses</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;background-color:#e6efff">10,000,000</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;background-color:#e6efff">8,717,475</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;background-color:#e6efff">10,000,000</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;background-color:#e6efff">8,717,475</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt">Total operating expenses</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:0.75pt solid #000000;text-align:right">14,460,256</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:0.75pt solid #000000;text-align:right">15,426,340</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:0.75pt solid #000000;text-align:right">34,536,122</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:0.75pt solid #000000;text-align:right">26,568,702</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;background-color:#e6efff">Other income (expense):</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt">Interest income (expense), net</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">(712,652)</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">11,572</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">(1,236,441)</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">75,442</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;background-color:#e6efff">Loss on SEPA settlements</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">-</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">(157,721)</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">(127,083)</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">(157,721)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt">Change in fair value of debentures</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">- </td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">(383,823)</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">-</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">(583,823)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;border-bottom:0.75pt solid #000000;background-color:#e6efff">Loss on extinguishment of debentures</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;background-color:#e6efff">-</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;background-color:#e6efff">(25,000)</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;background-color:#e6efff">-</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;background-color:#e6efff">(25,000)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;border-bottom:0.75pt solid #000000">Total other income (expense)</td> <td style="width:22%;vertical-align:top;border-bottom:0.75pt solid #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right">(712,652)</td> <td style="width:11%;vertical-align:top;border-bottom:0.75pt solid #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right">(554,972)</td> <td style="width:18%;vertical-align:top;border-bottom:0.75pt solid #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right">(1,363,524)</td> <td style="width:18%;vertical-align:top;border-bottom:0.75pt solid #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right">(691,102)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;border-bottom:0.75pt solid #000000;background-color:#e6efff">Net loss for the period</td> <td style="width:22%;vertical-align:top;border-bottom:0.75pt solid #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff">(15,172,908)</td> <td style="width:11%;vertical-align:top;border-bottom:0.75pt solid #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff">(15,981,312)</td> <td style="width:18%;vertical-align:top;border-bottom:0.75pt solid #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff">(35,899,646)</td> <td style="width:18%;vertical-align:top;border-bottom:0.75pt solid #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff">(27,259,804)</td> </tr> </table> </div>

<table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap"> </td> <td colspan="2" style="width:36%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:center;white-space:nowrap">Three Months Ended September 30,</td> <td colspan="2" style="width:38%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:center;white-space:nowrap">Nine Months Ended September 30,</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap"> </td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:center;white-space:nowrap">2026</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:center;white-space:nowrap">2025</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:center;white-space:nowrap">2026</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:center;white-space:nowrap">2025</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;background-color:#e6efff">Research and development expenses:</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt">SkinJect</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right"> </td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right"> </td> </tr> <tr> <td style="width:24%;padding-right:5.4pt;padding-left:41.4pt;vertical-align:top;background-color:#e6efff">Clinical, manufacturing and regulatory activities</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">464,223</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">1,114,470</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">2,475,511</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">3,568,401</td> </tr> <tr> <td style="width:24%;padding-right:5.4pt;padding-left:41.4pt;vertical-align:top">Professional services and intellectual property</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">51,558</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">49,092</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">196,785</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">165,770</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;background-color:#e6efff">Teverelix</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> </tr> <tr> <td style="width:24%;padding-right:5.4pt;padding-left:41.4pt;vertical-align:top">Clinical, manufacturing and regulatory activities</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">(1,389,137)</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">1,238</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">2,460,885</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">1,238</td> </tr> <tr> <td style="width:24%;padding-right:5.4pt;padding-left:41.4pt;vertical-align:top;background-color:#e6efff">Professional services and intellectual property</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">37,358</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">-</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">115,699</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">-</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt">CD228V</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right"> </td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right"> </td> </tr> <tr> <td style="width:24%;padding-right:5.4pt;padding-left:41.4pt;vertical-align:top;background-color:#e6efff">Professional services and intellectual property</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">80,649</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">-</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">80,649</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">-</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;border-bottom:0.75pt solid #000000">Salaries and benefits</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right">2,708,130</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right">519,983</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right">4,235,336</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right">1,395,152</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;padding-left:3pt;background-color:#e6efff">Total research and development expenses</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff">1,952,780</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff">1,684,783</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff">9,564,865</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff">5,130,561</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt">Total general and administrative expenses</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">2,507,476</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">5,024,082</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">14,971,257</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">12,720,666</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;border-bottom:0.75pt solid #000000;background-color:#e6efff">Total In-Process Research and Development (IPR&D) expenses</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;background-color:#e6efff">10,000,000</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;background-color:#e6efff">8,717,475</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;background-color:#e6efff">10,000,000</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;background-color:#e6efff">8,717,475</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt">Total operating expenses</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:0.75pt solid #000000;text-align:right">14,460,256</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:0.75pt solid #000000;text-align:right">15,426,340</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:0.75pt solid #000000;text-align:right">34,536,122</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:0.75pt solid #000000;text-align:right">26,568,702</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;background-color:#e6efff">Other income (expense):</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt">Interest income (expense), net</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">(712,652)</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">11,572</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">(1,236,441)</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">75,442</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;background-color:#e6efff">Loss on SEPA settlements</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">-</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">(157,721)</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">(127,083)</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right;background-color:#e6efff">(157,721)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt">Change in fair value of debentures</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">- </td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">(383,823)</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">-</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">(583,823)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;border-bottom:0.75pt solid #000000;background-color:#e6efff">Loss on extinguishment of debentures</td> <td style="width:22%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;background-color:#e6efff">-</td> <td style="width:11%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;background-color:#e6efff">(25,000)</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;background-color:#e6efff">-</td> <td style="width:18%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right;background-color:#e6efff">(25,000)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;border-bottom:0.75pt solid #000000">Total other income (expense)</td> <td style="width:22%;vertical-align:top;border-bottom:0.75pt solid #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right">(712,652)</td> <td style="width:11%;vertical-align:top;border-bottom:0.75pt solid #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right">(554,972)</td> <td style="width:18%;vertical-align:top;border-bottom:0.75pt solid #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right">(1,363,524)</td> <td style="width:18%;vertical-align:top;border-bottom:0.75pt solid #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right">(691,102)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:3pt;border-bottom:0.75pt solid #000000;background-color:#e6efff">Net loss for the period</td> <td style="width:22%;vertical-align:top;border-bottom:0.75pt solid #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff">(15,172,908)</td> <td style="width:11%;vertical-align:top;border-bottom:0.75pt solid #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff">(15,981,312)</td> <td style="width:18%;vertical-align:top;border-bottom:0.75pt solid #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff">(35,899,646)</td> <td style="width:18%;vertical-align:top;border-bottom:0.75pt solid #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right;background-color:#e6efff">(27,259,804)</td> </tr> </table>

464223

1114470

2475511

3568401

51558

49092

196785

165770

-1389137

1238

2460885

1238

37358

115699

80649

2708130

519983

4235336

1395152

1952780

1684783

9564865

5130561

2507476

5024082

14971257

12720666

10000000

8717475

10000000

8717475

14460256

15426340

34536122

26568702

-712652

11572

-1236441

75442

0 -157721 -127083 -157721 0 -383823 0 -583823

-25000

-712652

-554972

-1363524

-691102

-15172908

-15981312

-35899646

-27259804

<div> 12. Debentures and Secured Promissory Notes On September 17, 2025, the Company entered into a securities purchase agreement with Yorkville to issue a debenture with the principal amount of $8,000,000 issued at a discount of $633,707 for proceeds of approximately $7,366,293. Interest accrued on the outstanding principal amount of the debenture at an annual rate of 8%, subject to a potential increase to 18% per annum upon the occurrence of certain events of default. The debenture had a maturity date of September 17, 2026, and was to be repaid using proceeds from the SEPA; however, on May 27, 2026, the Company used part of the proceeds from the issuance of the Secured Promissory Notes (as defined herein) to repay and extinguish the outstanding balance and accrued interest owing on the debenture. The debenture was initially recorded at fair value, based on the discounted proceeds. Subsequently, the Company accounted for the debenture at amortized cost using the effective interest rate method, resulting in accretion expense of $374,712 for the nine months ended September 30, 2026. The effective interest rate calculated was 32.75% as of the repayment date. On May 27, 2026, the Company repaid the outstanding principal balance of $2,343,778 related to the Yorkville debenture, together with accrued interest of $135,664, using proceeds received from the issuance of the Secured Promissory Notes. On May 27, 2026, the Company entered into a Note Purchase Agreement with Streeterville Capital, LLC ("Streeterville"), pursuant to which the Company issued two secured promissory notes with aggregate principal amounts of $22,864,225. The first promissory note ("Note A") was issued with a face value of $12,864,225 and a purchase price of $12,000,000, resulting in an issue discount of $864,225. The second promissory note ("Note B") was issued with a principal amount of $10,000,000. Note A bears interest at 8.75% per annum compounded daily and Note B bears interest at 5.0% per annum compounded daily. Both promissory notes mature on November 27, 2027. The Secured Promissory Notes are secured by a first-ranking security interest over substantially all assets of the Company. Guarantees are provided by the Company's subsidiaries. The Company evaluated the transaction under ASC 470-50, Debt Modifications and Extinguishments, and determined that the issuance of the Streeterville promissory notes and repayment of the Yorkville debenture should be accounted for as an extinguishment of debt. Accordingly, the carrying amount of the Yorkville debenture was derecognized upon settlement, and the newly issued promissory notes were recognized as new debt instruments. The Company initially recorded the Note A and Note B ("promissory notes") at fair value based on the proceeds received, net of directly attributable debt issuance costs. Subsequently, the Company accounts for the promissory notes at amortized cost using the effective interest method. Debt issuance costs are amortized over the contractual life of the respective promissory notes. The Company incurred $615,000 in debt issuance cost related to the promissory notes. The Note A permits the lender to require monthly redemptions beginning on the seventh month following the issuance, subject to the terms of the agreement. Beginning on the seventh month following the issuance date, the lender has the right to require monthly redemptions of up to $500,000 per month plus make-whole interest calculated as if the redeemed amount had remained outstanding until maturity. If the Company fails to satisfy a redemption notice within the required period, the outstanding balance is increased by 20% of the applicable redemption amount. In addition, beginning on the sixth month following the issuance date, both Note A and Note B permit the lender to require limited redemptions of up to 5% of the cumulative daily dollar trading volume during specified redemption windows when the Company's common shares trade at least 15% above the defined Minimum Price per the agreement. Such limited redemptions are payable at 110% of the applicable redemption amount. Both Note A and Note B contain customary trigger event and event of default provisions, including payment defaults, insolvency events, delisting determinations and specified corporate transactions. Upon the occurrence of trigger events, the lender may increase the outstanding balance by 5% for certain minor trigger events or 15% for certain major trigger events, subject to contractual limitations. Following an event of default, the lender may accelerate repayment and default interest may accrue at a rate of up to 18% per annum, subject to applicable law. <div style="margin-top:0pt;margin-bottom:0pt"></div> In connection with Note B, $10,000,000 of the proceeds were deposited into a restricted deposit account maintained pursuant to a Deposit Account Control Agreement. The lender has control rights over the account upon the occurrence of specified trigger events and may direct the disposition of funds in the account. Under certain circumstances, amounts outstanding under Note B may be exchanged into additional Note A borrowings. Specifically, for each $2.0 million of Note A principal repaid, up to $1.0 million of the outstanding Note B balance may be exchanged into a new Note A advance, subject to the conditions set out in the financing agreements. The Company entered into a Note exchange agreement with the lender on September 1, 2026. The Company exchanged $2,000,000 of Note B borrowings to a separate Note A-2 borrowing. Upon execution of the exchange the Note A-2 was issued at a face value of $2,139,037 and a purchase price of $2,000,000, resulting in an issuance discount of $139,037. Note A-2 bears interest of 8.75% per annum compounded daily and matures at the same time as Note A and B above on November 27, 2027. Upon the exchange, the $2,000,000 related to Note A-2 was no longer subject to the restrictions applicable to Note B. In connection with the exchange agreement, a side letter was signed that required the Company to make a mandatory prepayment upon receipt of proceeds from certain equity fundraising or other financing transactions. The required prepayment is equal to the lesser of 25% of the gross proceeds from the applicable financing transaction and the aggregate outstanding balance of the A Notes and is payable within two trading days of receipt of the proceeds. The lender may determine the outstanding A Note against which the mandatory prepayment is applied. As at September 30, 2026 the Company has repaid $860,680 of the Note A principal based on the financing proceeds received. The Company evaluated the exchange transaction under ASC 470-50, Debt Modification and Extinguishment and determined that the exchange of Note B to Note A-2 should be accounted for as a debt modification. Accordingly, the carrying amount of the modified portion of Note A and Note B was carried forward and adjusted for the effects of the modification. The Company incurred $7,411 in debt issuance cost related to the promissory notes exchange which was expensed during the nine months ended September 30, 2026. The Note A-2 permits the lender to require monthly redemptions beginning December 27, 2026, subject to the terms of the agreement. The lender has the right to require monthly redemptions of up to $100,000 per month plus make-whole interest calculated as if the redeemed amount had remained outstanding until maturity. If the Company fails to satisfy a redemption notice within the required period, the outstanding balance is increased by 20% of the applicable redemption amount. In addition, beginning on November 27, 2026 Note A-2 permits the lender to require limited redemptions of up to 5% of the cumulative daily dollar trading volume during specified redemption windows when the Company's common shares trade at least 15% above the defined Minimum Price per the agreement. Such limited redemptions are payable at 110% of the applicable redemption amount. Similar to Note A and Note B, Note A-2 contains customary trigger event and event of default provisions, including payment defaults, insolvency events, delisting determinations and specified corporate transactions. Upon the occurrence of trigger events, the lender may increase the outstanding balance by 5% for certain minor trigger events or 15% for certain major trigger events, subject to contractual limitations. Following an event of default, the lender may accelerate repayment, and default interest may accrue at a rate of up to 18% per annum, subject to applicable law. As at September 30, 2026, the Company was in compliance with the terms and covenants of all the notes. The Company evaluated the embedded features contained within the promissory notes, and concluded that certain features would require bifurcation under ASC 815; however, the fair value of such features was determined to be de minimis. Accordingly, no embedded derivative liability was recorded as of September 30, 2026. <div> <table cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;white-space:nowrap">Debenture issued on September 17, 2025:</td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid #000000;white-space:nowrap">September 30, 2026</td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;background-color:#e6efff">Net balance as at December 31, 2025</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5,245,543</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt">Repayment of new debenture</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(3,180,084</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;background-color:#e6efff">Interest accretion</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">374,712</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt">Interest payment</td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:12%">(96,393</td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:2%">)</td> </tr> </table> <div></div> <div> <div> <table border="0" cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;border-color:#000000;font-size:10pt;margin-bottom:0pt;margin-top:0pt"> <tr style="background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt;width:84%">Ending balance as of May 27, 2026</td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double rgb(0, 0, 0);background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:2.25pt double rgb(0, 0, 0);background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt;width:12%">2,343,778</td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double rgb(0, 0, 0);background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt;width:2%"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;width:84%">Repayment of Yorkville debenture</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;margin-top:0pt;margin-bottom:0pt;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;margin-top:0pt;margin-bottom:0pt;width:12%">(2,343,778</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;margin-top:0pt;margin-bottom:0pt;width:2%">)</td> </tr> <tr style="background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt;width:84%">Ending balance as of September 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;border-bottom:2.25pt double rgb(0, 0, 0);background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;border-bottom:2.25pt double rgb(0, 0, 0);background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt;width:12%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;border-bottom:2.25pt double rgb(0, 0, 0);background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt;width:2%"> </td> </tr> </table> </div> </div> </div> <div style="margin-top:0pt;margin-bottom:0pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;white-space:nowrap;margin-top:0pt;margin-bottom:0pt">Note A and Note A-2</td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt">September 30, 2026</td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Principal of Note A and Note A-2</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">15,003,262</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Discount on debt</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">(1,003,262</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">)</td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Debt issuance costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">(349,091</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">)</td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Repayment</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">(860,680</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">)</td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Interest accretion</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">397,935</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Ending balance</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;border-bottom:2.25pt double rgb(0, 0, 0);width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">13,188,164</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;border-bottom:2.25pt double rgb(0, 0, 0);width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Interest Payable</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">403,726</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;margin-top:0pt;margin-bottom:0pt">Note B issued on May 27, 2026:</td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt">September 30, 2026</td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Principal of Note B</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">10,000,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Exchange to Note A-2</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">(2,000,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">)</td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Debt issuance costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">(265,909</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">)</td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Interest accretion</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">63,906</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Ending balance</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;border-bottom:2.25pt double rgb(0, 0, 0);width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">7,797,997</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;border-bottom:2.25pt double rgb(0, 0, 0);width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Interest Payable</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">169,870</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> </tr> </table> </div> As of September 30, 2026, total accrued interest related to the promissory notes was $573,596. The interest is payable at maturity or upon redemption of the principal. Of the total accrued interest, $289,710 was included in the current portion of interest payable on secured promissory notes and $283,886 was included in the non-current portion of interest payable on secured promissory notes on the condensed consolidated balance sheet, with the corresponding amounts recognized in interest expense in the condensed consolidated statement of operations and comprehensive loss. </div>

8000000

633707

7366293

0.08

0.18

2026-09-17

374712 0.3275

2343778

135664

22864225

12864225

12000000

864225

10000000

0.0875

0.05

2027-11-27

615000

500000 0.20 0.05 0.15

1.10

Upon the occurrence of trigger events, the lender may increase the outstanding balance by 5% for certain minor trigger events or 15% for certain major trigger events, subject to contractual limitations. Following an event of default, the lender may accelerate repayment and default interest may accrue at a rate of up to 18% per annum, subject to applicable law.

10000000

2000000 1000000

2000000

2139037

2000000

139037

0.0875

2000000

0.25

860680

7411

100000 0.20 0.05 0.15

1.10

Upon the occurrence of trigger events, the lender may increase the outstanding balance by 5% for certain minor trigger events or 15% for certain major trigger events, subject to contractual limitations. Following an event of default, the lender may accelerate repayment, and default interest may accrue at a rate of up to 18% per annum, subject to applicable law.

<div> <table cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;white-space:nowrap">Debenture issued on September 17, 2025:</td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid #000000;white-space:nowrap">September 30, 2026</td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;background-color:#e6efff">Net balance as at December 31, 2025</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5,245,543</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt">Repayment of new debenture</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(3,180,084</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;background-color:#e6efff">Interest accretion</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">374,712</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt">Interest payment</td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:12%">(96,393</td> <td style="vertical-align:bottom;text-align:left;border-bottom:0.75pt solid #000000;width:2%">)</td> </tr> </table> <div></div> <div> <div> <table border="0" cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;border-color:#000000;font-size:10pt;margin-bottom:0pt;margin-top:0pt"> <tr style="background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt;width:84%">Ending balance as of May 27, 2026</td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double rgb(0, 0, 0);background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;border-bottom:2.25pt double rgb(0, 0, 0);background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt;width:12%">2,343,778</td> <td style="vertical-align:bottom;text-align:left;border-bottom:2.25pt double rgb(0, 0, 0);background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt;width:2%"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;width:84%">Repayment of Yorkville debenture</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;margin-top:0pt;margin-bottom:0pt;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;margin-top:0pt;margin-bottom:0pt;width:12%">(2,343,778</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:left;margin-top:0pt;margin-bottom:0pt;width:2%">)</td> </tr> <tr style="background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt;width:84%">Ending balance as of September 30, 2026</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;border-bottom:2.25pt double rgb(0, 0, 0);background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;border-bottom:2.25pt double rgb(0, 0, 0);background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt;width:12%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;border-bottom:2.25pt double rgb(0, 0, 0);background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt;width:2%"> </td> </tr> </table> </div> </div> </div>

5245543

3180084

374712 96393

2343778

<div style="margin-top:0pt;margin-bottom:0pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;white-space:nowrap;margin-top:0pt;margin-bottom:0pt">Note A and Note A-2</td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt">September 30, 2026</td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Principal of Note A and Note A-2</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">15,003,262</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Discount on debt</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">(1,003,262</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">)</td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Debt issuance costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">(349,091</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">)</td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Repayment</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">(860,680</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">)</td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Interest accretion</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">397,935</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Ending balance</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;border-bottom:2.25pt double rgb(0, 0, 0);width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">13,188,164</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;border-bottom:2.25pt double rgb(0, 0, 0);width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Interest Payable</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">403,726</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;font-size:10pt;border-color:rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;margin-top:0pt;margin-bottom:0pt">Note B issued on May 27, 2026:</td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> </td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt">September 30, 2026</td> <td style="vertical-align:bottom;text-align:center;border-bottom:0.75pt solid rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Principal of Note B</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">10,000,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Exchange to Note A-2</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">(2,000,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">)</td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Debt issuance costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">(265,909</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">)</td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Interest accretion</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">63,906</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">Ending balance</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;border-bottom:2.25pt double rgb(0, 0, 0);width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;border-bottom:2.25pt double rgb(0, 0, 0);width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)">7,797,997</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:left;border-bottom:2.25pt double rgb(0, 0, 0);width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(230, 239, 255)"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> <td style="padding-right:5.4pt;padding-left:16.2pt;vertical-align:bottom;text-align:justify;text-indent:-10.8pt;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">Interest Payable</td> <td style="vertical-align:bottom;text-align:left;width:1%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)">169,870</td> <td style="vertical-align:bottom;text-align:left;width:2%;margin-top:0pt;margin-bottom:0pt;background-color:rgb(255, 255, 255)"> </td> </tr> </table> </div>

15003262

1003262

349091

860680

397935

13188164

403726

10000000

2000000

265909

63906

7797997

169870

573596

289710

283886

<div> 13. Restricted Cash As of September 30, 2026, cash of $8.08 million was held in a restricted deposit account maintained by a subsidiary of the Company pursuant to the Deposit Account Control Agreement entered into in connection with the Note B financing. The funds are subject to a first-ranking security interest in favour of the lender and are not available for general corporate purposes except in accordance with the financing arrangements. Accordingly, the balance has been presented as restricted cash in the condensed interim consolidated balance sheet. </div>

8080000.00

<table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;white-space:nowrap;text-align:justify"> </td> <td colspan="1" style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td colspan="4" style="vertical-align:bottom;white-space:nowrap;text-align:center">Three Months Ended September 30,</td> <td colspan="1" style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td colspan="4" style="vertical-align:bottom;white-space:nowrap;text-align:center">Nine Months Ended September 30,</td> <td colspan="1" style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;white-space:nowrap;text-align:justify"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center">2026</td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center">2025</td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center">2026</td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center">2025</td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:3pt;background-color:#e6efff">Net loss attributable to shareholders</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">(15,181,335</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">(20,935,753</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">(35,841,183</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">(32,214,245</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:3pt">Weighted average number of common shares outstanding </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">1,304,177</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">372,633</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">1,019,773</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">336,892</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:3pt;background-color:#e6efff">Basic and diluted net loss per share attributable to shareholders</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">(11.64</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">(56.18</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">(35.15</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">(95.62</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> </table>

-15181335

-20935753

-35841183

-32214245

1304177

372633

1019773

336892

-11.64

-56.18

-35.15

-95.62

<table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%"> <tr> <td style="width:32%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top"> </td> <td colspan="2" style="width:67%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;white-space:nowrap"> For the Period Ended </td> </tr> <tr> <td style="width:32%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top"> </td> <td style="width:32%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;white-space:nowrap"> September 30, 2026 </td> <td style="width:32%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;white-space:nowrap"> September 30, 2025 </td> </tr> <tr> <td style="width:32%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;background-color:#e6efff"> Stock options </td> <td style="width:32%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;background-color:#e6efff"> 140,200 </td> <td style="width:32%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;background-color:#e6efff"> 37,150 </td> </tr> <tr> <td style="width:32%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top"> Warrants </td> <td style="width:32%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top"> 145,636 </td> <td style="width:32%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top"> 118,836 </td> </tr> <tr> <td style="width:32%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="width:32%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;border-top:0.75pt solid #000000;background-color:#e6efff"> 285,836 </td> <td style="width:32%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;border-top:0.75pt solid #000000;background-color:#e6efff"> 155,986 </td> </tr> </table>

140200

37150

145636

118836

285836

155986

50 to 1

41200

240013

232812