What changed in this filing

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Item 1. Financial Statements

2026-05-15 compared with 2025-11-10 · 154 added, 203 removed, 413 unchanged (46% of the section changed)

1 unchanged sentence

BALANCE SHEETS

Nine Months Ended

September 30, 2025

Three Months Ended

March 31, 2026

December 31, 2025

13 unchanged sentences

COMMITMENTS AND CONTINGENCIES (See Note 9)

Series C Convertible Preferred Stock, 34,461 and 34,853 shares outstanding, respectively, redeemable

value of $ 3,446,113 and $ 3,485,313 , respectively

Series C Convertible Preferred Stock, 34,853 and 34,853 shares outstanding, respectively, redeemable value of $ 3,485,313 and $ 3,485,313 , respectively

SHAREHOLDERS’ EQUITY (DEFICIT)

2 unchanged sentences

Common stock, $ 0.0001 par value;

3,000,000,000 authorized shares 730,648,728 and 704,599,512 shares

issued and outstanding, respectively

3,000,000,000 authorized shares 768,031,041 and 768,031,041 shares issued and outstanding, respectively

Additional paid in capital

8 unchanged sentences

Statements of Operations

March 31, 2026

March 31, 2025

Three Months Ended

Nine Months Ended

September 30, 2025

September 30, 2024

September 30, 2025

September 30, 2024

March 31, 2026

March 31, 2025

OPERATING EXPENSES

5 unchanged sentences

LOSS FROM OPERATIONS BEFORE OTHER INCOME (EXPENSES)

( 1,582,324 )

( 1,351,578 )

OTHER INCOME/(EXPENSES)

Interest income

Other expenses

TOTAL OTHER INCOME (EXPENSES)

2 unchanged sentences

$ ( 476,094 )

$ ( 1,581,894 )

$ ( 1,347,183 )

BASIC AND DILUTED EARNINGS (LOSS) PER SHARE

3 unchanged sentences

Statement of Shareholders’ Deficit

NINE MONTHS ENDED SEPTEMBER 30, 2025

Preferred Stock

Balance at December 31, 2024

$ 176,508,484

$ ( 177,942,547 )

$ ( 1,363,603 )

Stock compensation cost

Adjustment to mezzanine

Balance at March 31, 2025 (unaudited)

( 178,418,641 )

MONTHS ENDED MARCH 31, 2026

at December 31, 2025

$ 178,676,658

Issuance of common shares for commitment fees

Reclass adjustment to mezzanine

Stock compensation cost

Balance at June 30, 2025 (unaudited)

$ ( 180,789,490 )

$ ( 2,036,029 )

Issuance of common stock through equity financing

Stock compensation cost

Balance at September 30, 2025 (unaudited)

$ 177,340,366

Balance at March 31, 2026

( 181,612,486 )

( 2,718,350 )

NINE MONTHS ENDED SEPTEMBER 30, 2024

THREE MONTHS ENDED MARCH 31, 2025

Preferred Stock

2 unchanged sentences

$ ( 177,942,547 )

Stock and warrant compensation cost

Balance at March 31, 2024 (unaudited)

$ ( 1,363,603 )

Stock and warrant compensation cost

Balance at June 30, 2024 (unaudited)

( 177,041,027 )

Stock and warrant compensation cost

$ ( 438,741 )

Balance at September 30, 2024 (unaudited)

$ 176,453,539

$ ( 177,479,768 )

$ ( 955,769 )

Balance at March 31, 2025

$ 176,563,860

3 unchanged sentences

Statements of Cash Flows

Nine Months Ended

September 30, 2025

September 30, 2024

March 31, 2026

March 31, 2025

Three Months Ended

March 31, 2026

March 31, 2025

CASH FLOWS FROM OPERATING ACTIVITIES:

2 unchanged sentences

$ ( 476,094 )

Adjustment to reconcile net income (loss) to net cash (used in) provided by operating

Adjustment to reconcile net income (loss) to net cash (used in) provided by operating activities

Depreciation and amortization expense

Change in mezzanine

Non-cash stock compensation expense

4 unchanged sentences

NET CASH USED IN OPERATING ACTIVITIES

( 1,413,695 )

( 1,189,145 )

NET CASH FLOWS FROM INVESTING ACTIVITIES

CASH PROVIDED BY FINANCING ACTIVITIES

Common shares issued through an equity financing agreement

NET CASH PROVIDED BY FINANCING ACTIVITIES

NET DECREASE IN CASH

( 1,189,145 )

CASH, BEGINNING OF PERIOD

2 unchanged sentences

Interest paid

SUPPLEMENTAL DISCLOSURES OF NON-CASH FLOW INFORMATION

Adjustment to mezzanine

Issuance of common shares for commitment fees

Equity commitment fees

DISCLOSURERS OF NON-CASH FLOW INFORMATION

accompanying notes are an integral part of these unaudited condensed financial statements.

NOTES TO FINANCIAL STATEMENTS – UNAUDITED

THE NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024

THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025

Basis of Presentation

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been included.

Operating results for the nine months ended September 30, 2025, are not necessarily indicative of the results that may

be expected for the year ending December 31, 2025.

Operating results for the three months ended March 31, 2026, are not necessarily indicative of the results that may be

expected for the year ending December 31, 2026.

For further information refer to the financial statements and footnotes thereto included

in the Company’s Form 10-K for December 31, 2025.

accompanying financial statements have been prepared in conformity with U.S.

GAAP, which contemplates continuation of the Company as

a going concern and the realization of assets and satisfaction of liabilities in the normal course of business.

The carrying amounts

of assets and liabilities presented in the financial statements do not necessarily purport to represent realizable or settlement values.

The financial statements do not include any adjustment that might result from the outcome of this uncertainty.

ability of the Company to continue as a going concern and appropriateness of using the going concern basis is dependent upon, among other

things, achieving a level of profitable operations and receiving additional cash infusions.

During the nine months ended September 30,

2025, the Company obtained funds from the issuance of common shares through our equity financing agreement with GHS Investments, LLC

Management believes that it will continue to receive funding from its’ current investors and from new investors.

Management believes the existing shareholders, and the prospective new investors will provide the additional cash needed to meet the

Company’s obligations as they become due and will allow the development of its core business operations.

No assurance can be given

that any future financing will be available or, if available, that it will be on terms that are satisfactory to the Company.

the Company is able to obtain additional financing, it may contain undue restrictions on our operations, in the case of debt financing

or cause substantial dilution for our stockholders, in case of equity financing.

of the nine months ended September 30, 2025, the Company had a loss of $ 1,581,894 , which consisted of a non-cash amount of $ 179,842 for

a net cash loss of $ 1,402,052 .

As of September 30, 2025, its accumulated deficit was $ 179,524,441 .

The Company has working capital to

cover its’ operating expenses for the next nine months.

believes the Company’s present cash flows will enable it to meet its obligations for nine months from the date of these financial

Management will continue to assess its operational needs and seek additional financing as needed to fund its operations.

accompanying financial statements have been prepared assuming the Company will continue as a going concern.

As shown in the accompanying

financial statements, the Company has an accumulated deficit and had a working capital deficit as of March 31, 2026.

These conditions

raise substantial doubt about the Company’s ability to continue as a going concern.

In order to continue as a going concern, the

Company will need, among other things, additional capital resources.

The Company is significantly dependent upon its ability, and will

continue to attempt, to secure additional equity and/or debt financing.

There are no assurances that the Company will be successful in

obtaining additional capital.

financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts

of and classification of liabilities that might be necessary in the event the Company cannot continue in existence.

of the three months ended March 31, 2026, the Company had a loss of $ 822,996 , which consisted of a non-cash amount of $ 140,675 for a net

cash loss of $ 682,321 .

As of March 31, 2026, its accumulated deficit was $ 181,612,486 .

The Company has working capital to cover its’

operating expenses for the next three months.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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throughout the year, the Company may maintain cash balances in certain bank accounts in excess of FDIC limits.

As of September 30, 2025,

As of March 31, 2026,

the cash balance in excess of the FDIC limits was $ 464,341 .

12 unchanged sentences

Machinery and equipment

expense for the nine months ended September 30, 2025 and 2024, were $ 195 and $ 813 , respectively.

expense for the three months ended March 31, 2026 and 2025 were $ 65 and $ 65 , respectively.

Company has patent applications to protect the inventions and processes behind its proprietary bio-based back-sheet, a protective covering

3 unchanged sentences

SCHEDULE OF INTANGIBLE ASSETS AMORTIZED OVER THEIR USEFUL LIVES

March 31, 2026

December 31, 2025

Less accumulated amortization

Intangible assets

expense for the nine months ended September 30, 2025 and 2024, was $ 2,267 and $ 2,267 , respectively.

SCHEDULE OF PATENT AMORTIZATION

Remainder of 2026

expense for the three months ended March 31, 2026 and 2025, was $ 756 and $ 756 , respectively.

Company measures the cost of employee services received in exchange for an equity award based on the grant-date fair value of the award.

5 unchanged sentences

is re-measured each period.

February 18, 2021, the Company granted 450,000,000 stock options to its employees for services at an exercise price of $ 0.091 .

29, 2021, the Company amended the exercise price to $ 0.028 per share.

The options expire, and all rights to purchase the shares shall

terminate seven ( 7 ) years from the date of grant or termination of employment.

Half of the 400,000,000 options vested immediately upon

grant , and the remaining half of the option to purchase 200,000,000 shares of the Company’s common stock shall become exercisable

in equal amounts over a twenty-four ( 24 ) month period during the term of the optionee’s employment, with the first installment

of 8,333,333 shares vesting on March 18, 2021.

The 50,000,000 options are exercisable in equal amounts over a thirty-six ( 36 ) month period

during the term of the optionee’s employment, with the first installment of 1,388,889 shares, vesting on March 18, 2021.

12, 2022, the Company cancelled the 450,000,000 stock options dated February 18, 2021, and concurrently granted 450,000,000 new options

to its’ employees for services on April 12, 2022 (see below).

March 1, 2022, the Company issued 5,000,000 common stock purchase warrants through a securities purchase agreement for a purchase price

1 unchanged sentence

of March 1, 2029.

As of September 30, 2025, no warrants were exercised.

As of March 31, 2026, the 5,000,000 purchase warrants were outstanding.

March 15, 2022, the Company granted 5,000,000 stock options to a consultant for advisory services.

The options vest at a rate of 138,889

options per month for a thirty-six ( 36 ) month period during the term of the optionee’s consultancy with the Company.

As of September

30, 2025, the 5,000,000 stock options vested on March 12, 2025, with an expiration date of March 15, 2032.

options per month for a thirty-six ( 36 ) month period during the term of the optionee’s consultancy with the Company and expire

on March 15, 2032 .

The 5,000,000 stock options fully vested on March 15, 2025 and as of March 31, 2026 were outstanding.

April 12, 2022, the Company granted an aggregate of 450,000,000 stock options to its employees for services, at an exercise price of

9 unchanged sentences

were cancelled as of June 11, 2023.

As of September 30, 2025, the remaining 400,000,000 stock options have vested.

As of March 31, 2026, the remaining 400,000,000 stock options remain outstanding.

March 20, 2023, the Company granted 50,000,000 stock options, to purchase shares of the Company’s common stock at an exercise price

5 unchanged sentences

The unvested portion of the option will not be exercisable on or after the termination of continuous service.

As of September 30, 2025,

there were 36,057,287 options vested, with a remaining 13,942,713 options to vest.

The options expire on March 19, 2030.

As of March 31, 2026, there

were 36,057,287 options vested, with a remaining 13,942,713 options to vest.

The options expire on March 19, 2030, and remain outstanding.

May 9, 2023, the Company granted 5,000,000 stock options to a consultant, with an exercise price of $ 0.0126 , and an expiration date of

2 unchanged sentences

and 138,888 options vested at the end of each month from the end of the seventh month through May 31, 2026.

As of September 30, 2025,

there were 3,892,323 options vested, with a remaining 1,107,677 options to vest.

As of March 31, 2026, there

were 3,892,323 options vested, with a remaining 1,107,677 options to vest.

The options expire on May 31, 2033 .

As of March 31, 2026,

5,000,000 shares remain outstanding.

June 15, 2023, the Company granted 100,000,000 shares of stock options to two employees of the Company, with an exercise price of $ 0.0121 ,

13 unchanged sentences

$200,000 per day over any 20 consecutive trade days.

As of September 30, 2025, Tranche III of the performance milestones were met and

Prior to December 31, 2025, Tranche III of the performance milestones were met and

the 25,000,000 options were vested.

Management believes the probability of satisfying vesting conditions in the above four tranches is

less than ten (10) percent during next 12 months based on the current market cap of less than $5,000,000 and average trading stock volume

of less than $5,000 per day.

As of September 30, 2025, 100,000,000 options remain outstanding, but none have vested.

The options expire

on June 15, 2030 .

On February 20, 2026, the Company amended the above employee performance stock option.

The amendment

replaces performance vesting conditions of the unvested portion of the stock options to be vested over a fifteen (15) month period until

remaining options are fully vested.

During the period ended March 31, 2026, 5,000,000 options vested, leaving 55.000,000 options not

yet vested as of March 31, 2026.

The options expire on June 15, 2030 .

December 9, 2024, the Company entered into an agreement with a consultant to provide advisory services in developing technology and products

7 unchanged sentences

(i) 36 months from the date of the agreement, or (ii) any time by either party with a 5-day written notice from one party to the other.

As of September 30, 2025, there were 624,998 options vested, and 1,875,002 options not yet vested.

As of March 31, 2026, there were 624,998 options vested, and 1,875,002 options not yet vested.

The options expire on December 1, 2027 .

9 unchanged sentences

to the other.

As of September 30, 2025, there were 349,315 options vested, and 2,150,685 options not yet vested.

The options expire on

May 1, 2035 .

As of March 31, 2026, there were 349,315 options vested, and 2,150,685 options not yet vested.

The options expire on May

the appropriate fair value of the stock-based compensation requires the input of subjective assumptions, including the expected life

5 unchanged sentences

( 7 ) years from the date of grant or upon termination of employment.

As of September 30, 2025, the aggregate total of 565,000,000 stock

options were outstanding.

As of March 31, 2026, the aggregate total of 565,000,000 stock options

were outstanding.

Stock compensation expense recognized for the period was $ 63,592 .

1 unchanged sentence

and development costs are expensed as incurred.

Total research and development costs were $ 354,074 and $ 268,021 for the nine months ended

September 30, 2025 and 2024, respectively.

Total research and development costs were $ 331,513 and $ 101,518 for the three months

ended March 31, 2026 and 2025, respectively.

and Marketing

1 unchanged sentence

The advertising and marketing costs were $ 93,569 and

$ 228,739 for the nine months ended September 30, 2025 and 2024, respectively.

$ 106,479 for the three months ended March 31, 2026 and 2025, respectively.

Earnings (Loss) per Share Calculations

5 unchanged sentences

of stock options and stock-based awards (Note 5).

the nine months ended September 30, 2025 and 2024, the Company has not included shares issuable from 565,000,000 stock options and 228,958,334

the three months ended March 31, 2026 and 2025, the Company has not included shares issuable from 565,000,000 stock options and 228,958,334

warrants, because their impact on the income per share is antidilutive.

SCHEDULE OF NET EARNINGS PER SHARE

For the Nine Months Ended

September 30,

For the Three Months Ended

Income (Loss) to common shareholders (Numerator)

6 unchanged sentences

practicable to estimate that value.

As of September 30, 2025, the amounts reported for cash, inventory, prepaid expenses, accounts payable,

As of March 31, 2026, the amounts reported for cash, inventory, prepaid expenses, accounts payable,

and accrued expenses, approximate the fair value because of their short maturities.

12 unchanged sentences

measure certain financial instruments at fair value on a recurring basis.

As of September 30, 2025, there were no financial instruments

As of March 31, 2026, there were no financial instruments to

in Stockholder’s Equity

change in mezzanine was reclassified and accounted for in the shareholders’ deficit statement in the current period.

Reclassification

amounts in the 2024 financial statements have been reclassified to conform to the presentation used in the 2025 financial statements.

There was no material impact on any of the Company’s previously issued financial statements.

Issued Accounting Pronouncements

2 unchanged sentences

PREFERRED STOCK

Stock September 30, 2025 and 2024

of September 30, 2025, the Company had a total of 34,461 shares of Series C Preferred Stock outstanding with a fair value of $ 3,446,113 ,

Stock March 31, 2026 and 2025

of March 31, 2026, the Company had a total of 34,853 shares of Series C Preferred Stock outstanding with a fair value of $ 3,485,313 ,

and a stated face value of one hundred dollars ($ 100 ) per share which are convertible into shares of fully paid and non-assessable shares

6 unchanged sentences

to convert debt to an equity interest in a company in case of default, generally, after venture capital companies and other senior lenders

Stock September 30, 2025 and 2024

the quarter ended September 30, 2025, the Company issued an aggregate of 25,245,680

shares of common stock for $ 615.445 , related to the equity financing agreement.

(See Note 7) .

May 2, 2025, the Company issued 803,536 shares of common stock for equity commitment fees in the amount of $ 30,000 during the period.

Stock March 31, 2026

of March 31, 2026, the Company did not issue any common stocks during the period.

STOCK OPTIONS AND WARRANTS

the nine months ended September 30, 2025, there were 2,500,000 stock options granted by the Company.

(See Note 2).

Also, during the nine

months ended September 30, 2025, no stock options expired.

the three months ended March 31,2026 no stock options were granted by the Company.

Also, during the three

months ended March 31, 2026, no stock options expired.

SCHEDULE OF STOCK OPTIONS

9 unchanged sentences

Exercisable as of the end of the periods

weighted average remaining contractual life of options outstanding as of September 30, 2025 and 2024 was as follows:

weighted average remaining contractual life of options outstanding as of March 31, 2026 and 2025 were as follows:

SCHEDULE OF WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OPTIONS OUTSTANDING

7 unchanged sentences

Weighted Average Remaining Contractual Life (years)

the appropriate fair value of the stock-based compensation requires the input of subjective assumptions, including the expected life

of the stock-based payment and stock price volatility.

The Company used Black Scholes to value its stock option awards which incorporated

the Company’s stock price, volatility, U.S.

risk-free rate, dividend rate, and estimated life.

The stock options terminate between

seven ( 7 ) and ( 10 ) years from the date of grant or upon termination of employment.

As of September 30, 2025, the aggregate total of 565,000,000

stock options were outstanding.

stock-based compensation expense recognized in the statement of operations during the nine months ended September 30, 2025 and 2024,

were $ 179,842 and $ 174,275 , respectively.

of September 30, 2025, there was no intrinsic value with regards to the outstanding options.

the nine months ended September 30, 2025, the Company issued no common stock purchase warrants.

of September 30, 2025 and 2024, the outstanding common stock purchase warrants were as follows:

Company adopted ASC 718 to account for stock-based awards measured at fair value, using the Black Scholes Model.

The fair value compensation

expense is based on the grant date of the stock options and warrants which is the date the Company and employee reach a mutual agreement

on the terms of the award.

The cost is then recognized as an expense over the requisite service period and the recipient performs the

required services.

reliability of the grant-date fair value relies heavily on the quality and reasonableness of certain input assumptions.

A significant

input is the expected volatility of the Company’s stock over the option’s expected term.

The expected term represents the

period the Company anticipates the employee will hold the option before exercising it.

The Black Scholes model requires the use of these

assumptions to determine the fair value of the stock-based awards.

The Company uses management’s best estimates, which include

the awards expected term, the fair value of the common stock, the expected volatility of the price of the common stock, the risk-free

interest rate, and the expected dividend yield of the common stock.

The expected term represents the period that the Company’s

stock-based awards are expected to be outstanding.

The Company has based its expected term on the simplified method available under U.S.

stock options terminate between seven ( 7 ) and ( 10 ) years from the date of grant or upon termination of employment.

As of March 31, 2026,

the aggregate total of 565,000,000 stock options were outstanding.

stock-based compensation expense recognized in the statement of operations during the three months ended March 31, 2026 and 2025, were

$ 140,675 and $ 55,376 , respectively.

of March 31, 2026, there was no intrinsic value with regards to the outstanding options.

the three months ended March 31, 2026, the Company issued no common stock purchase warrants.

of March 31, 2026 and 2025, the outstanding common stock purchase warrants were as follows:

SCHEDULE OF WARRANTS ACTIVITY

8 unchanged sentences

Exercisable as of the end of the periods

weighted average remaining contractual life of the warrants outstanding as of September 30, 2025 was as follows:

weighted average remaining contractual life of the warrants outstanding as of March 31, 2026 was as follows:

SCHEDULE OF WARRANTS OUTSTANDING

4 unchanged sentences

Contractual Life (years)

was no warrant compensation recognized as of September 30, 2025.

INTANGIBLE ASSETS

Company’s acquired intangible assets as of September 30, 2025 and December 31, 2024 consisted of the following:

SCHEDULE OF ACQUIRED INTANGIBLE ASSETS

Accumulated amortization

Net carrying value

September 30, 2025

Period (years)

December 31, 2024

Period (years)

future amortization expense for the Company’s intangible assets at September 30, 2025 as follows:

SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE

Period ending September 30,

2025 three months remaining

was no warrant compensation recognized as of March 31, 2026.

EQUITY FINANCING AGREEMENT

19 unchanged sentences

on May 30, 2025.

During the period ended September 30, 2025, the Company issued 25,245,680 shares of common stock, at purchase prices

between $ 0.0195689 – 0.031080 for a fair value of $ 585,445 , less the $ 30,000 commitment fee.

of March 31, 2026, the Company had 63,431,529 shares of common stock outstanding, with purchase prices between $ 0.0195689 – 0.031080

for a fair value of $ 1,355,807 , less the $ 30,000 commitment fee.

Agreement is accounted for under ASC 815-40 standard for equity instruments, including common shares issued through an equity finance

1 unchanged sentence

finance cost.

May 2, 2025, the Company issued 803,536

shares of common stock to GHS in connection with its equity financing at a price of $ 0.037335

per share for a total of $ 30,000

in consideration.

The equity financing cost is accounted for as a deduction from equity to the extent it is incremental costs

directly attributable to the equity transaction that otherwise would have been avoided.

This accounting treatment recognizes that

these costs provide future economic benefits to the Company.

May 2, 2025, the Company issued 803,536 shares of common stock to GHS in connection with its equity financing at a price of $ 0.037335

per share for a total of $ 30,000 in consideration.

The equity financing cost is accounted for as a deduction from equity to the extent

it is incremental costs directly attributable to the equity transaction that otherwise would have been avoided.

This accounting treatment

recognizes that these costs provide future economic benefits to the Company.

July 17, 2025, the Company issued 11,616,962 shares of common stock through its equity financing agreement and received $ 298,770 less

6 unchanged sentences

clearing fees of $ 2,865 for a total of $ 65,726 .

October 8, 2025, the Company issued 6,034,628 shares of common stock through its equity financing agreement and received $ 96,226 less

clearing fees of $ 3,010 for a total of $ 99,236 .

October 29, 2025, the Company issued 22,535,036 shares of common stock through its equity financing agreement and received $ 434,402 less

clearing fees of $ 1,025 for a total of $ 435,427 .

November 14, 2025, the Company issued 8,812,649 shares of common stock through its equity financing agreement and received $ 179,399 less

clearing fees of $ 1,025 for a total of $ 180,424 .

SEGMENT INFORMATION

1 unchanged sentence

produce the lowest cost green hydrogen.

The Chief Operating Decision Makers are the Company’s Chief Executive officer and its President,

who together (the “CODM”), evaluate company performance based on Net income (loss), determined in accordance with U.S.

and Adjusted EBDITA, a non-GAAP measure.

accounting policies of the operating segment are the same as those described in the summary of significant accounting policies.

Operating Decision Makers are the Company’s Chief Executive officer and its President, who together (the “CODM”), evaluate

company performance based on Net income (loss), determined in accordance with U.S.

GAAP, and Adjusted EBDITA, a non-GAAP measure.

Company defines Adjusted EBITDA as income from operations, determined in accordance with GAAP, excluding the following:

depreciation and amortization of property and equipment;

amortization of acquired intangible assets;

and amortization of property and equipment;

of acquired intangible assets;

SEGMENT INFORMATION (Continue)

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table below provides the Company’s Net loss, Operating Expenses, Other Income, and a reconciliation of Income/Loss to Adjusted

EBITDA for the nine months ended September 30, 2025 and 2024:

EBITDA for the three months ended March 31, 2026 and 2025:

SCHEDULE OF NET LOSS, OPERATING EXPENSES, OTHER INCOME, AND RECONCILIATION OF INCOME/LOSS TO ADJUSTED EBITDA

Nine Months Ended

SEGMENT INFORMATION

September 30, 2025

September 30, 2024

March 31, 2026

March 31, 2025

Three Months Ended

SEGMENT INFORMATION

March 31, 2026

March 31, 2025

LESS OPERATING EXPENSES

2 unchanged sentences

Research and development

( 1,579,862 )

( 1,348,498 )

Depreciation and amortization

53 unchanged sentences

matters will not have a material adverse effect on the Company’s financial position or results of operations.

of September 30, 2025, there were no legal proceedings against the Company.

of March 31, 2026, there were no legal proceedings against the Company.

SUBSEQUENT EVENT

has evaluated subsequent events according to the requirements of ASC TOPIC 855 and has the following subsequent events to report:

October 8, 2025, the Company issued 6,034,628 free trading shares to GHS Investments and received $ 96,226 less clearing fees of $ 3,010

for a total of $ 99,236 .

Also, on October 29, 2025, the Company issued 22,535,036 free trading shares to GHS Investments and received

$ 434,402 less clearing fees of $ 1,025 for a total of $ 435,427 .

shares were issued pursuant to the equity financing agreement entered into with GHS Investments on May 2, 2025.

has evaluated subsequent events according to the requirements of ASC TOPIC 855 and has no subsequent events to report.

April 1, 2026, the Company amended an existing agreement with a consultant to grant 2,500,000 common stock options, which vest starting

April 1, 2026.

The options vest at a rate of 69,444 options per month for thirty-five ( 35 ) months of consecutive service to the Company.

The remaining 69,460 options will be vested at the end of the thirty-sixth (36th) month.

April 30, 2026, the Company issued 21,523,187 shares of common stock through its equity financing agreement and received $ 344,387 less

clearing fees of $ 2,471 for a total of $ 346,858 .

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.

What changed 10-Q

Item 1. Financial Statements