Item 2. Unregistered Sales of Equity Securities
ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Common
Shares Issued for Accrued Bridge Loan Payable Commitment Fee
In
June 2026, the Company issued 100,000 shares of its common stock for accrued commitment fee for the purchase of bridge loan. These shares
were valued at $138,000, the fair market value on the grant date using the reported closing share price on the date of grant, and the
Company reduced accrued commitment fee of $138,000.
On July 6, 2026, the Company issued 75,000 shares of its common stock in consideration of services rendered under a February 2026 consulting
agreement.
Common Shares Issued as Note Payable Commitment
Fee
On August 13, 2026, the Company issued 300,000
shares of its common stock as loan commitment fee for issuance of the FirstFire Note (as defined in Item 5 below).
The offers, sales, and
issuances of the securities described above were deemed to be exempt from registration under the Securities Act in reliance on Section
4(a)(2) and/or Section 3(a)(9) of the Securities Act, or Regulation D promulgated thereunder, as transactions by an issuer not involving
a public offering. The recipients of securities in each of these transactions acquired the securities for investment only and not with
a view to or for sale in connection with any distribution thereof and appropriate legends were affixed to the securities issued in these
transactions. Each of the recipients of securities in these transactions was an accredited or sophisticated person and had adequate access,
through employment, business or other relationships, to information about us.
ITEM
3. DEFAULTS UPON SENIOR SECURITIES
Not
applicable.
ITEM
4. MINE SAFETY DISCLOSURES
Not
applicable.
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