What changed 10-Q

Item 2. Unregistered Sales of Equity Securities

2026-05-15 compared with 2026-02-10 · 7 added, 7 removed, 5 unchanged (74% of the section changed)

1 unchanged sentence

and Use of Proceeds

On October 6, 2025, November 4, 2025 and December

4, 2025, the Company issued three Extension Notes, each in the aggregate principal amount of $150,000 the to the Sponsor in connection

with the payment of Monthly Extension Fee, respectively.

The information of the Extension Notes contained under Item 2 of Part I above

is incorporated herein by reference in response to this item.

The issuance of the Extension Notes was made pursuant to the exemption from

registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

Since January 1, 2026 to the date hereof, the

Company issued five Extension Notes, each in the aggregate principal amount of $150,000, including two to the Sponsor and three to Marine

Thinking in connection with the payment of Monthly Extension Fee, respectively.

The information of the Extension Notes contained under

Item 2 of Part I above is incorporated herein by reference in response to this item.

The issuance of the Extension Notes was made pursuant

to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

Defaults upon Senior Securities

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.