What changed in this filing

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Item 2. Management’s Discussion and Analysis

2026-08-03 compared with 2026-05-15 · 81 added, 49 removed, 112 unchanged (54% of the section changed)

63 unchanged sentences

Significant estimates made in preparing these

financial statements, include the estimate of useful lives of property and equipment, the deferred tax valuation allowance, derivative

liabilities and the fair value of stock options.

financial statements, include the estimate of useful lives of property and equipment, the deferred tax valuation allowance and the fair

value of stock options.

Actual results could differ from those estimates.

Value of Financial Instruments

cash, cash equivalents, investments, inventory, prepaid expenses, and accounts payable are stated at cost which approximates fair value

due to the short-term nature of these instruments.

cash, cash equivalents, prepaid expenses, and accounts payable are stated at cost which approximates fair value due to the short-term

nature of these instruments.

Issued Accounting Pronouncements

reviewed currently issued pronouncements during the three months ended March 31, 2026, and does not believe that any other recently issued,

but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying condensed unaudited

financial statements.

of Operations – Three months ended March 31, 2026, compared to the Three months ended March 31, 2025.

November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic

Disaggregation of Income Statement Expenses, which requires incremental disclosures about specific expense categories, including

but not limited to, purchases of inventory, employee compensation, depreciation, amortization and selling expenses.

The amendments are

effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15,

Early adoption is permitted and the amendments may be applied either prospectively or retrospectively.

The Company is currently

evaluating this ASU to determine its impact on the Company’s disclosures.

The amendments only impact disclosures and are not expected

to have an impact on the Company’s financial condition and results of operations.

Company considers all new pronouncements and management has determined that there have been no recently adopted or issued accounting

standards that had or will have a material impact on its financial statements.

of Operations – Three months ended June 30, 2026, compared to the Three months ended June 30, 2025.

and Marketing Expenses

and marketing (“S&M”) expenses decreased by $12,910 to $93,569 for the three months ended March 31, 2026, compared to

$106,479 for the prior period ended March 31, 2025.

The primary decrease in S&M expenses was the result of a decrease in spending

on advertising and marketing.

and marketing (“S&M”) expenses increased by $15,786 to $109,878 for the three months ended June 30, 2026, compared to

$94,092 for the prior period ended June 30, 2025.

The primary increase in S&M expenses was the result of an increase in spending

on website development and marketing.

and Administrative Expenses

and administrative (“G&A”) expenses increased by $129,345 to $396,798 for the three months ended March 31, 2026, compared

to $267,453 for the prior period ended March 31, 2025.

The overall increase was an increase in insurance expense.

and administrative (“G&A”) expenses increased by $83,265 to $464,318 for the three months ended June 30, 2026, compared

to $381,053 for the prior period ended June 30, 2025.

The majority of the increase related to increased stock option expense for a vesting

amendment, increased accounting fees and an increase due to timing of market fees.

and Development

and Development (“R&D”) expenses increased by $229,995 to $331,513 for the three months ended March 31, 2026, compared

to $101,518 for the prior period ended March 31, 2025.

This overall increase in R&D expenses was the result of an increase in consultant

and Development (“R&D”) expenses increased by $195,007 to $342,874 for the three months ended June 30, 2026, compared

to $147,867 for the prior period ended June 30, 2025.

This overall increase in R&D expenses was the result of an increase in research

agreement costs, and consultant costs.

and Amortization Expense

and amortization expense for the three months ended March 31, 2026 and 2025 was $821 and $821, respectively.

Income/(Expenses)

income and (expenses) decreased by $472 to ($295) for the three months ended March 31, 2026, compared to $177 for the prior period ended

March 31, 2025.

The decrease in other income and (expenses) was the result of a decrease in interest income of $73 and other expenses

of $399 in the current period.

net loss for the three months ended March 31, 2026 was $822,996, compared to $476,094 for the prior period ended March 31, 2025.

and amortization expense for the three months ended June 30, 2026 and 2025 was $821 and $820, respectively.

net loss for the three months ended June 30, 2026 was $917,822, compared to $623,704 for the prior period ended June 30, 2025.

has not generated any revenues.

The majority of the increase in net loss was due to an overall increase in operating expenses and non-cash

expense associated with the net change in stock option expense in the current period.

The estimates for stock compensation expense were

based on multiple inputs, including the market price of our stock, interest rates, our stock price volatility, variable conversion prices

based on market prices as defined in the respective agreements and probabilities of certain outcomes based on management projections.

These inputs were subject to significant changes from period to period and to management’s judgment;

therefore, the estimated fair

value of the stock options fluctuate, and the fluctuation may be material.

of Operations – Six months ended June 30, 2026, compared to the Six months ended June 30, 2025.

and Marketing Expenses

expenses increased by $2,876 to $203,447 for the six months ended June 30, 2026, compared to $200,571 for the prior period ended June

The primary reason for the increase in S&M expenses was due to an increase in website development offset by a decrease

in ad campaigns.

and Administrative Expenses

expenses increased by $212,610 to $861,116 for the six months ended June 30, 2026, compared to $648,506 for the prior period ended June

The majority of the increase related to an increase in stock compensation expense for a vesting amendment and an increase in

These increases were offset by decreases to legal fees and market fees.

and Development

expenses increased by $425,002 to $674,387 for the six months ended June 30, 2026, compared to $249,385 for the prior period ended June

This overall increase in R&D expenses was the result of an increase in research agreement costs, and consultant costs.

and Amortization Expense

and amortization expense for the six months ended June 30, 2026 and 2025 was $1,642 and $1,641, respectively.

net loss for the six months ended June 30, 2026 was $1,740,818, compared to $1,099,798 for the prior period ended June 30, 2025.

Company has not generated any revenues.

1 unchanged sentence

and non-cash expense associated with the net change in stock option expense in the current period.

These estimates were based on multiple

inputs, including the market price of our stock, interest rates, our stock price volatility, variable conversion prices based on market

prices as defined in the respective agreements and probabilities of certain outcomes based on management projections.

These inputs were

subject to significant changes from period to period and to management’s judgment;

therefore, the estimated fair value of the stock

options fluctuate, and the fluctuation may be material.

The Company has not generated any revenues.

The estimates for stock compensation

expense were based on multiple inputs, including the market price of our stock, interest rates, our stock price volatility, variable

conversion prices based on market prices as defined in the respective agreements and probabilities of certain outcomes based on management

These inputs were subject to significant changes from period to period and to management’s judgment;

therefore, the

estimated fair value of the stock options fluctuate, and the fluctuation may be material.

AND CAPITAL RESOURCES

3 unchanged sentences

and accounts payable and capital expenditures.

accompanying unaudited condensed financial statements as of March 31, 2026, have been prepared on a going concern basis of accounting,

accompanying unaudited condensed financial statements as of June 30, 2026, have been prepared on a going concern basis of accounting,

which contemplates continuity of operations, realization of assets and liabilities and commitments in the normal course of business.

1 unchanged sentence

as a going concern.

During the three months ended March 31, 2026, we did not generate any revenues, and recognized a net loss of $822,996,

During the six months ended June 30, 2026, we did not generate any revenues, and recognized a net loss of $1,740,818,

due to a change in operating expenses and cash of $1,460,435 used in operations.

As of March 31, 2026, we had working capital of $751,663

As of June 30, 2026, we had working capital of $788,355

and a shareholders’ deficit of $2,643,279.

believes that we will be able to continue to raise funds through the sale of our securities to existing and new investors, including

through the use of its equity financing agreement entered into with GHS Management believes that funding from existing and prospective

through the use of its equity financing agreement entered into with GHS.

Management believes that funding from existing and prospective

new investors and future revenue will provide the additional cash needed to meet our obligations as they become due and will allow the

4 unchanged sentences

undue restrictions on our operations, in the case of debt-financing or cause substantial dilution for our stockholders, in case of equity

of March 31, 2026, we had working capital of $751,663 compared to $1,433,163 for the year ended December 31, 2025.

of June 30, 2026, we had working capital of $788,355 compared to $1,433,163 for the year ended December 31, 2025.

This decrease in working

capital was due primarily to a decrease in cash.

the three months ended March 31, 2026, we used $722,587 in cash for operating activities, as compared to $492,812 for the prior period

ended March 31, 2025.

The increase in the use of cash for operating activities for the current period was a result of an increase in

research and development cost, and advertising and marketing.

was no investing or financing activities during the three months ended March 31, 2026 and March 31, 2025.

the six months ended June 30, 2026, we used $1,460,435 in cash for operating activities, as compared to $1,003,615 for the prior period

ended June 30, 2025.

The increase in the use of cash for operating activities for the current period was a result of an increase in research

and development, and general and administrative costs.

was no investing activities during the six months ended June 30, 2026 and June 30, 2025.

the six months ended June 30, 2026, we received $763,035 in cash for financing activities as compared to $0 for the prior period ended

June 30, 2025.

Cash received during the current period was for shares issued through an equity financing agreement.

independent auditors, in their report on our audited financial statements for the year ended December 31, 2025, expressed substantial

1 unchanged sentence

Our financial statements as of

March 31, 2026, have been prepared under the assumption that we will continue as a going concern.

Our ability to continue as a going

concern, ultimately is dependent upon our ability to generate revenue, which is dependent upon our ability to obtain additional equity

or debt financing, attain further operating efficiencies and, ultimately, to achieve profitable operations.

Our financial statements

do not include any adjustments that might result from the outcome of this uncertainty.

June 30, 2026, have been prepared under the assumption that we will continue as a going concern.

Our ability to continue as a going concern,

ultimately is dependent upon our ability to generate revenue, which is dependent upon our ability to obtain additional equity or debt

financing, attain further operating efficiencies and, ultimately, to achieve profitable operations.

Our financial statements do not include

any adjustments that might result from the outcome of this uncertainty.

OF OPERATION AND FINANCING NEEDS

15 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.

What changed 10-Q

Item 2. Management’s Discussion and Analysis