What changed in this filing

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Item 1. Financial Statements

2026-08-13 compared with 2026-05-12 · 673 added, 1385 removed, 391 unchanged (84% of the section changed)

13 unchanged sentences

Property and equipment, net 202,333 259,222

Total assets $ 6,186,095 $ 10,785,647

Liabilities and Stockholders’ Equity

13 unchanged sentences

100,000,000 shares authorized;

8,615,532 and 8,334,336 shares issued and outstanding as of March 31, 2026 and September 30, 2025, respectively.

8,702,982 and 8,334,336 shares issued and outstanding as of June 30, 2026 and September 30, 2025, respectively.

Additional paid–in capital 88,194,870 85,673,975

Accumulated deficit ( 84,436,030 ) ( 78,609,787 )

( 82,133,346 )

( 78,609,787 )

Total stockholders’ equity 3,767,543 7,072,522

4 unchanged sentences

Three Months Ended

Six Months Ended

Nine Months Ended

Product revenue $ 1,973,105 $ 1,696,050 $ 6,727,790 $ 6,356,767

7 unchanged sentences

Loss from operations ( 2,424,312 ) ( 1,886,600 ) ( 6,528,816 ) ( 2,855,409 )

( 2,100,844 )

( 2,680,016 )

( 3,808,151 )

Fair value change in warrant liability 405,702 319,625 620,171 1,099,421

Financing costs — ( 9,325 ) — ( 334,063 )

Other income 12,279 75,432 82,402 103,898

Loss before income taxes ( 2,006,331 ) ( 1,500,868 ) ( 5,826,243 ) ( 1,986,153 )

( 2,085,669 )

( 2,270,607 )

( 3,523,559 )

Provision for income taxes — — — —

$ ( 2,085,669 )

$ ( 2,270,607 )

$ ( 3,523,559 )

$ ( 485,285 )

Net loss $ ( 2,006,331 ) $ ( 1,500,868 ) $ ( 5,826,243 ) $ ( 1,986,153 )

Net loss per share (Note 3):

Basic $ ( 0.23 ) $ ( 0.19 ) $ ( 0.68 ) $ ( 0.32 )

Diluted $ ( 0.28 ) $ ( 0.19 ) $ ( 0.75 ) $ ( 0.32 )

Number of shares used in per share calculations (Note 3):

Basic 8,661,624 8,100,603 8,511,313 6,141,509

Diluted 8,739,505 8,100,603 8,621,075 6,141,509

See accompanying notes to condensed financial statements

NeuroOne Medical Technologies Corporation

Condensed Statements of Changes in Stockholders’

Condensed Statements of Changes in Stockholders’ Equity

Stockholders’

Balance at September 30, 2025 8,334,336 $ 8,334 $ 85,673,975 $ ( 78,609,787 ) $ 7,072,522

$ ( 75,004,413 )

Stock-based compensation — — 359,255 — 359,255

Exercise of warrants 62,500 63 411,607 — 411,670

Issuance of common stock upon vesting of restricted stock units 5,959 6 ( 6 ) — —

Share repurchases for the payment of employee taxes ( 680 ) ( 1 ) ( 3,631 ) — ( 3,632 )

Net loss — — — ( 1,437,890 ) ( 1,437,890 )

Balance at December 31, 2025 8,402,115 8,402 86,441,200 ( 80,047,677 ) 6,401,925

( 73,219,091 )

Issuance of common stock attributed to equity financings 166,666 167 670,233 670,400

Issuance costs related to equity financings

Stock-based compensation — — 342,135 — 342,135

Exercise of warrants 14,470 15 105,607 — 105,622

Issuance of common stock upon vesting of restricted stock units 47,069 47 ( 47 ) — —

Share repurchases for the payment of employee taxes ( 14,788 ) ( 15 ) ( 60,762 ) — ( 60,777 )

( 2,270,607 )

Net loss — — — ( 2,382,022 ) ( 2,382,022 )

Balance at March 31, 2026 8,615,532 8,616 87,498,366 ( 82,429,699 ) 5,077,283

$ ( 75,489,698 )

Issuance of common stock attributed to equity financings 80,671 81 358,905 — 358,986

Issuance costs related to equity financing — — ( 11,996 ) — ( 11,996 )

Stock-based compensation — — 352,777 — 352,777

Issuance of common stock upon vesting of restricted stock units 8,955 9 ( 9 ) — —

Share repurchases for the payment of employee taxes ( 4,085 ) ( 4 ) ( 3,172 ) — ( 3,176 )

Reverse stock split adjustment 1,909 1 ( 1 ) — —

Net loss — — — ( 2,006,331 ) ( 2,006,331 )

Balance at June 30, 2026 8,702,982 $ 8,703 $ 88,194,870 $ ( 84,436,030 ) $ 3,767,543

See accompanying notes to condensed financial statements

NeuroOne Medical Technologies Corporation

Condensed Statements of Changes in Stockholders’ Equity

Stockholders’

Balance at September 30, 2024 5,135,861 $ 5,136 $ 75,821,290 $ ( 75,004,413 ) $ 822,013

$ ( 78,609,787 )

Stock-based compensation — — 339,224 — 339,224

Exercise of warrants

Issuance of common stock upon vesting of restricted stock units 6,295 6 ( 6 ) — —

Share repurchases for the payment of employee taxes ( 2,075 ) ( 2 ) ( 11,265 ) — ( 11,267 )

( 1,437,890 )

Net income — — — 1,785,322 1,785,322

Balance at December 31, 2024 5,140,081 5,140 76,149,243 ( 73,219,091 ) 2,935,292

( 80,047,677 )

Issuance of common stock attributed to equity financings 59,314 59 413,978 — 414,037

Issuance costs related to equity financings — — ( 95,929 ) — ( 95,929 )

Stock-based compensation — — 250,170 — 250,170

Exercise of warrants

Issuance of common stock upon vesting of restricted stock units 47,017 47 ( 47 ) — —

Share repurchases for the payment of employee taxes ( 15,719 ) ( 15 ) ( 107,090 ) — ( 107,105 )

( 2,085,669 )

Net loss — — — ( 2,270,607 ) ( 2,270,607 )

Balance at March 31, 2025 5,230,693 5,231 76,610,325 ( 75,489,698 ) 1,125,858

$ ( 82,133,346 )

See accompanying notes to condensed financial

Issuance of common stock attributed to equity financing 3,066,666 3,067 9,196,933 — 9,200,000

Issuance costs related to equity financing — — ( 960,717 ) — ( 960,717 )

Stock-based compensation — — 316,654 — 316,654

Issuance of common stock upon vesting of restricted stock units 7,220 7 ( 7 ) — —

Share repurchases for the payment of employee taxes ( 680 ) ( 1 ) ( 3,473 ) — ( 3,474 )

Net loss — — — ( 1,500,868 ) ( 1,500,868 )

Balance at June 30, 2025 8,303,899 $ 8,304 $ 85,159,715 $ ( 76,990,566 ) $ 8,177,453

See accompanying notes to condensed financial statements

NeuroOne Medical Technologies Corporation

Condensed Statements of Cash Flows

Six Months Ended

Nine Months Ended

Operating activities

$ ( 3,523,559 )

$ ( 485,285 )

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:

Net loss $ ( 5,826,243 ) $ ( 1,986,153 )

Adjustments to reconcile net loss to net cash used in operating activities:

Amortization and depreciation 172,554 197,355

Stock-based compensation 1,054,167 906,048

Valuation adjustments for excess or obsolete inventory 1,000 7,500

Amortization of deferred offering costs — 192,647

4 unchanged sentences

Accounts receivable 165,840 176,636

( 1,161,713 )

Inventory ( 64,449 ) 729,952

Prepaid expenses ( 177,568 ) ( 16,902 )

1 unchanged sentence

Accrued expenses, operating leases and other liabilities ( 226,831 ) ( 356,905 )

Net cash (used in) provided by operating activities

( 4,444,546 )

Net cash used in operating activities ( 5,526,335 ) ( 1,311,600 )

Investing activities

3 unchanged sentences

Proceeds from issuance of common stock attributed to equity financings 1,029,386 9,614,037

Issuance costs related equity financings

Issuance costs related to equity financings ( 10,777 ) ( 1,231,873 )

Financing costs in connection with debt facility — ( 297,942 )

2 unchanged sentences

Share repurchases for the payment of employee taxes ( 67,585 ) ( 121,846 )

Net cash provided by provided by (used in) financing activities

Net decrease in cash and cash equivalents

( 3,766,371 )

Net cash provided by financing activities 1,102,478 7,962,376

Net (decrease) increase in cash and cash equivalents ( 4,522,786 ) 6,579,641

Cash and cash equivalents at beginning of period 6,570,382 1,460,042

6 unchanged sentences

Reclass of warrant liability to equity upon exercise $ 342,918 $ —

Amortization of deferred offering costs related to equity financings $ 1,219 $ —

See accompanying notes to condensed financial statements

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

Notes to Condensed Financial Statements (Unaudited)

NOTE 1 – Description of Business and Basis of Presentation

NeuroOne Medical Technologies Corporation (the

“Company” or “NeuroOne”), a Delaware corporation, is a medical technology company focused on the development and

commercialization of thin film electrode for continuous electroencephalogram (“cEEG”) and stereoelectrocencephalography (“sEEG”)

recording, monitoring, ablation and stimulation solutions to diagnose and treat patients with epilepsy, trigeminal neuralgia, Parkinson’s

disease, dystonia, essential tremors, chronic pain due to failed back surgeries and other pain-related neurological disorders.

is also developing the capability to use its sEEG electrode technology to deliver drugs or gene therapy while being able to record activity

before, during, and after delivery.

The Company has received 510(k) clearance from

the United States (“U.S.”) Food and Drug Administration (“FDA”) for four of its devices:

(i) its Evo cortical

electrode technology for recording, monitoring, and stimulating brain tissue for up to 30 days (“Evo Cortical”), (ii) its

Evo® sEEG electrode technology for temporary (less than 30 days) use with recording, monitoring, and stimulation equipment for the

recording, monitoring, and stimulation of electrical signals at the subsurface level of the brain (“Evo sEEG”);

OneRF ablation system for creation of radiofrequency lesions in nervous tissue for functional neurosurgical procedures (the “OneRF

Ablation System”) and (iv) our OneRF TN ablation system for use in procedures to create radiofrequency (RF) lesions for the treatment

of pain, or for lesioning nerve tissue for functional neurosurgical procedures (“OneRF TN Ablation System”, together with

the Evo Cortical, Evo sEEG, and OneRF Ablation System, the “Commercialized Products”).

The Company has a distribution agreement

with Zimmer, Inc.

(“Zimmer”) providing Zimmer with a license to commercialize and distribute the Evo Cortical, Evo sEEG, and

OneRF Ablation System in the brain.

The Company initiated a limited market release of its OneRF TN Ablation System in December 2025 and

completed the limited market release in March 2026.

NeuroOne Medical Technologies Corporation (the “Company” or “NeuroOne”), a Delaware corporation, is a medical technology company focused on the development and commercialization of thin film electrode for continuous electroencephalogram (“cEEG”) and stereoelectrocencephalography (“sEEG”) recording, monitoring, ablation and stimulation solutions to diagnose and treat patients with epilepsy, trigeminal neuralgia, Parkinson’s disease, dystonia, essential tremors, chronic back pain and other pain-related neurological disorders.

The Company is also developing the capability to use its sEEG electrode technology to deliver drugs or gene therapy while being able to record activity before, during, and after delivery.

The Company has received 510(k) clearance from the United States (“U.S.”) Food and Drug Administration (“FDA”) for four of its devices:

(i) its Evo cortical electrode technology for recording, monitoring, and stimulating brain tissue for up to 30 days (“Evo Cortical”), (ii) its Evo® sEEG electrode technology for temporary (less than 30 days) use with recording, monitoring, and stimulation equipment for the recording, monitoring, and stimulation of electrical signals at the subsurface level of the brain (“Evo sEEG”);

(iii) its OneRF ablation system for creation of radiofrequency lesions in nervous tissue for functional neurosurgical procedures (the “OneRF Ablation System”) and (iv) our OneRF TN ablation system for use in procedures to create radiofrequency (RF) lesions for the treatment of pain, or for lesioning nerve tissue for functional neurosurgical procedures (“OneRF TN Ablation System”, together with the Evo Cortical, Evo sEEG, and OneRF Ablation System, the “Commercialized Products”).

The Company has a distribution agreement with Zimmer, Inc.

(“Zimmer”) providing Zimmer with a license to commercialize and distribute the Evo Cortical, Evo sEEG, and OneRF Ablation System in the brain.

The Company initiated a limited market release of its OneRF TN Ablation System in December 2025 and completed the limited market release in March 2026.

The Company’s other products and indications are still under development.

1 unchanged sentence

Global Economic Conditions

Generally, worldwide economic conditions remain

uncertain, particularly due to the conflicts between Russia and Ukraine and in the Middle East, disruptions in the banking system and

financial markets, and increased inflation.

Generally, worldwide economic conditions remain uncertain, particularly due to the conflicts between Russia and Ukraine and in the Middle East, disruptions in the banking system and financial markets, and increased inflation.

The general economic and capital market conditions both in the U.S.

and worldwide, have been

volatile in the past and at times have adversely affected the Company’s access to capital and increased the cost of capital.

capital and credit markets may not be available to support future capital raising activity on favorable terms or at all.

If economic conditions

continue to decline, the Company’s future cost of equity or debt capital and access to the capital markets could be adversely affected.

The Company has experienced minor price increases from our suppliers related to tariffs on imported goods and may experience additional

price increases.

The Company’s operating results could be

materially impacted by changes in the overall macroeconomic environment and other economic factors.

Changes in economic conditions, supply

chain constraints, logistics challenges, labor shortages, the conflicts in Ukraine and the Middle East, disruptions in the banking system

and financial markets, and steps taken by governments and central banks, have led to higher inflation, which has led to an increase in

costs and has caused changes in fiscal and monetary policy, including increased interest rates.

The Company expects to submit a request

for a tariff refund for minor tariffs paid by the Company to the U.S.

government under the International Emergency Economic Powers Act,

but the timing and amount of cash receipt pursuant to such future submission remains uncertain.

We will continue to monitor guidance issued

regarding the refund process.

and worldwide, have been volatile in the past and at times have adversely affected the Company’s access to capital and increased the cost of capital.

The capital and credit markets may not be available to support future capital raising activity on favorable terms or at all.

If economic conditions continue to decline, the Company’s future cost of equity or debt capital and access to the capital markets could be adversely affected.

The Company has experienced minor price increases from our suppliers related to tariffs on imported goods and may experience additional price increases.

The Company’s operating results could be materially impacted by changes in the overall macroeconomic environment and other economic factors.

Changes in economic conditions, supply chain constraints, logistics challenges, labor shortages, the conflicts in Ukraine and the Middle East, disruptions in the banking system and financial markets, and steps taken by governments and central banks, have led to higher inflation, which has led to an increase in costs and has caused changes in fiscal and monetary policy, including increased interest rates.

The Company expects to submit a request for a tariff refund for minor tariffs paid by the Company to the U.S.

government under the International Emergency Economic Powers Act, but the timing and amount of cash receipt pursuant to such future submission remains uncertain.

We will continue to monitor guidance issued regarding the refund process.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements (Unaudited)

Basis of presentation

The accompanying unaudited condensed financial

statements have been prepared by the Company, pursuant to the rules and regulations of the U.S.

Securities and Exchange Commission (the

Certain information and footnote disclosures normally included in financial statements prepared in accordance with

The accompanying unaudited condensed financial statements have been prepared by the Company, pursuant to the rules and regulations of the U.S.

Securities and Exchange Commission (the “SEC”).

Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S.

generally accepted accounting principles (U.S.

GAAP) have been condensed or omitted pursuant to such rules and regulations.

The condensed

financial statements may not include all disclosures required by U.S.

however, the Company believes that the disclosures are adequate

to make the information presented not misleading.

These unaudited condensed financial statements should be read in conjunction with the

audited financial statements and the notes thereto for the year ended September 30, 2025 included in the Company’s Annual Report

on Form 10-K.

The condensed financial statements may not include all disclosures required by U.S.

however, the Company believes that the disclosures are adequate to make the information presented not misleading.

These unaudited condensed financial statements should be read in conjunction with the audited financial statements and the notes thereto for the year ended September 30, 2025 included in the Company’s Annual Report on Form 10-K.

The condensed balance sheet at September 30, 2025 was derived from the audited financial statements of the Company.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

In the opinion of management, all adjustments,

consisting of only normal recurring adjustments that are necessary to present fairly the financial position, results of operations, and

cash flows for the interim periods, have been made.

The results of operations for the interim periods are not necessarily indicative of

the operating results for the full fiscal year or any future periods.

Reverse Stock Split

On April 14, 2026, the

Company filed an amendment to its Amended and Restated Certificate of Incorporation, as amended and/or restated from time to time, to

effectuate a reverse stock split of the Company’s issued and outstanding shares of common stock, par value $ 0.001 per share (the

In the opinion of management, all adjustments, consisting of only normal recurring adjustments that are necessary to present fairly the financial position, results of operations, and cash flows for the interim periods, have been made.

The results of operations for the interim periods are not necessarily indicative of the operating results for the full fiscal year or any future periods.

Reverse Stock Split

Trading of the common stock on The Nasdaq Capital Market commenced on a split-adjusted basis at market

open on April 16, 2026.

All amounts in the condensed financial statements have been retroactively adjusted to reflect the Reverse Stock

As a result of the Reverse

Stock Split, every 6 shares of the Company’s common stock issued or outstanding was automatically reclassified into one validly

issued, fully-paid and non-assessable new share of common stock, subject to the treatment of fractional shares as described below, without

any action on the part of the holders.

Proportional adjustments were made to the number of shares of common stock awarded and available

for issuance under the Company’s equity incentive plans, as well as the exercise price and the number of shares issuable upon the

exercise or conversion of the Company’s outstanding stock options and other equity securities under the Company’s equity incentive

On April 14, 2026, the Company filed an amendment to its Amended and Restated Certificate of Incorporation, as amended and/or restated from time to time, to effectuate a reverse stock split of the Company’s issued and outstanding shares of common stock, par value $ 0.001 per share (the “Reverse Stock Split”).

Trading of the common stock on The Nasdaq Capital Market commenced on a split-adjusted basis at market open on April 16, 2026.

All share and per-share amounts, and related equity amounts as applicable in the condensed financial statements have been retroactively adjusted to reflect the Reverse Stock Split.

As a result of the Reverse Stock Split, every 6 shares of the Company’s common stock issued or outstanding was automatically reclassified into one validly issued, fully-paid and non-assessable new share of common stock, subject to the treatment of fractional shares as described below, without any action on the part of the holders.

Proportional adjustments were made to the number of shares of common stock awarded and available for issuance under the Company’s equity incentive plans, as well as the exercise price and the number of shares issuable upon the exercise or conversion of the Company’s outstanding stock options and other equity securities under the Company’s equity incentive plans.

All outstanding warrants were also adjusted in accordance with their terms.

The shares of common stock outstanding following the

Reverse Stock Split will remain fully paid and non-assessable.

The Reverse Stock Split did not affect the number of authorized shares

of common stock or the par value per share of the common stock.

No fractional shares

were issued in connection with the Reverse Stock Split.

Stockholders who would otherwise be entitled to receive fractional shares as a

result of the Reverse Stock Split were automatically entitled to receive a cash payment equal to the market value of the fractional share.

The Reverse Stock Split affected all stockholders uniformly and did not alter any stockholder’s relative interest in the Company’s

equity securities, except for any adjustments for fractional shares.

The shares of common stock outstanding following the Reverse Stock Split will remain fully paid and non-assessable.

The Reverse Stock Split did not affect the number of authorized shares of common stock or the par value per share of the common stock.

No fractional shares were issued in connection with the Reverse Stock Split.

Stockholders who would otherwise be entitled to receive fractional shares as a result of the Reverse Stock Split were automatically entitled to receive a cash payment equal to the market value of the fractional share.

The Reverse Stock Split affected all stockholders uniformly and did not alter any stockholder’s relative interest in the Company’s equity securities, except for any adjustments for fractional shares.

NOTE 2 – Going Concern

The accompanying condensed financial statements

have been prepared on the basis that the Company will continue as a going concern.

The Company has incurred losses since inception, negative

cash flows from operations, and an accumulated deficit of $ 82.1 million as of March 31, 2026.

To date, the Company’s revenues have

not been sufficient to cover its full operating costs, and as such, it has been dependent on funding operations through the issuance of

debt and sale of equity securities which previously resulted in substantial doubt regarding the Company’s ability to continue as

a going concern.

As of March 31, 2026, the Company had $ 2.8 million in cash and cash equivalents.

The Company believes its current

available cash and cash equivalents coupled with the anticipated increase in product revenues from minimum purchases and improved gross

margins under the distribution agreement with Zimmer (See “Note 7– Zimmer Distribution Agreement and Other Product Revenue”)

and forecasted operating expense reductions, will be sufficient to fund the Company’s operations through September 2026.

of additional funds is not solely within the control of the Company.

These factors raise substantial doubt about the Company’s ability

to continue as a going concern.

The condensed financial statements do not include any adjustments that might result from the outcome of

this condition.

If the Company is unable to raise additional funds, or the Company’s anticipated operating results are not achieved,

management believes planned expenditures may need to be reduced in order to extend the time period that existing resources can fund the

Company’s operations.

The Company intends to fund ongoing activities

by utilizing its current cash and cash equivalents on hand, from product and collaborations revenue and by raising additional capital

through equity or debt financing.

If management is unable to obtain the necessary capital, it may have a material adverse effect on the

operations of the Company and the development of its technology, or the Company may have to cease operations altogether.

The accompanying condensed financial statements have been prepared on the basis that the Company will continue as a going concern.

The Company has incurred losses since inception, negative cash flows from operations, and an accumulated deficit of $ 84.4 million as of June 30, 2026.

To date, the Company’s revenues have not been sufficient to cover its full operating costs, and as such, it has been dependent on funding operations through the issuance of debt and sale of equity securities which previously resulted in substantial doubt regarding the Company’s ability to continue as a going concern.

As of June 30, 2026, the Company had $ 2.0 million in cash and cash equivalents.

The Company believes its current available cash and cash equivalents, including cash received through the ATM Program subsequent to June 30, 2026, coupled with the anticipated increase in product revenues from minimum purchases and improved gross margins under the distribution agreement with Zimmer (See “Note 7– Zimmer Distribution Agreement and Other Product Revenue”) and forecasted operating expense reductions, will be sufficient to fund the Company’s operations into January 2027.

The raising of additional funds is not solely within the control of the Company.

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

The condensed financial statements do not include any adjustments that might result from the outcome of this condition.

If the Company is unable to raise additional funds, or the Company’s anticipated operating results are not achieved, management believes planned expenditures may need to be reduced in order to extend the time period that existing resources can fund the Company’s operations.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

NOTE 3 – Summary of Significant Accounting

Notes to Condensed Financial Statements (Unaudited)

The Company intends to fund ongoing activities by utilizing its current cash and cash equivalents on hand, from product and collaborations revenue and by raising additional capital through equity or debt financing.

If management is unable to obtain the necessary capital, it may have a material adverse effect on the operations of the Company and the development of its technology, or the Company may have to cease operations altogether.

NOTE 3 – Summary of Significant Accounting Policies

Management’s Use of Estimates

The preparation of financial statements in conformity

GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure

of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during

the reporting period.

The preparation of financial statements in conformity with U.S.

GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

Actual results could differ from those estimates.

Segment Information

Operating segments are components of an enterprise

for which separate financial information is available and are evaluated regularly by the Company’s chief operating decision maker

(“CODM”) in deciding how to allocate resources and assessing performance.

The Company’s CODM is its Chief Executive

The Company’s Chief Executive Officer views the Company’s operations and manages its business in one operating

Operating segments are components of an enterprise for which separate financial information is available and are evaluated regularly by the Company’s chief operating decision maker (“CODM”) in deciding how to allocate resources and assessing performance .

The Company’s CODM is its Chief Executive Officer .

The Company’s Chief Executive Officer views the Company’s operations and manages its business in one operating segment.

See “Note 14 – Segment Reporting”.

Cash and Cash Equivalents

The Company considers all highly liquid investments

with an original contractual maturity on date of purchase of less than or equal to three months to be classified and presented as cash

equivalents on the balance sheets.

The Company considers all highly liquid investments with an original contractual maturity on date of purchase of less than or equal to three months to be classified and presented as cash equivalents on the balance sheets.

Cash equivalents are stated at cost, which approximates fair value.

The Company’s cash and cash

equivalents may include demand deposit accounts with large financial institutions, institutional money market funds, U.S.

Treasury securities,

and corporate notes and bonds.

The Company monitors the creditworthiness of the financial institutions, institutional money market funds,

and corporations in which the Company invests its surplus funds.

The Company has experienced no credit losses from its cash and cash equivalent

The Company’s cash and cash equivalents may include demand deposit accounts with large financial institutions, institutional money market funds, U.S.

Treasury securities, and corporate notes and bonds.

The Company monitors the creditworthiness of the financial institutions, institutional money market funds, and corporations in which the Company invests its surplus funds.

The Company has experienced no credit losses from its cash and cash equivalent investments.

Revenue Recognition

The Company entered into a development and distribution

agreement which has current and future revenue recognition implications.

See “Note 7 – Zimmer Distribution Agreement and Other

Product Revenue.”

In determining the appropriate amount of revenue

to be recognized as it fulfills its obligations under its agreements, the Company performs the following steps:

(i) identification of

the promised goods or services in the contract;

(ii) determination of whether the promised goods or services are performance obligations,

including whether they are distinct in the context of the contract;

(iii) measurement of the transaction price, including the constraint

on variable consideration;

The Company entered into a development and distribution agreement which has current and future revenue recognition implications.

See “Note 7 – Zimmer Distribution Agreement and Other Product Revenue.”

In determining the appropriate amount of revenue to be recognized as it fulfills its obligations under its agreements, the Company performs the following steps:

(i) identification of the promised goods or services in the contract;

(ii) determination of whether the promised goods or services are performance obligations, including whether they are distinct in the context of the contract;

(iii) measurement of the transaction price, including the constraint on variable consideration;

(iv) allocation of the transaction price to the performance obligations based on estimated selling prices;

and (v) recognition of revenue when (or as) the Company satisfies each performance obligation.

A performance obligation is a promise in a contract

to transfer a distinct good or service to the customer and is the unit of account in Accounting Standards Codification (“ASC”)

Topic 606, Revenue from Contracts with Customers (“ASC 606”).

Performance obligations may include license rights, development

services, and services associated with regulatory submission and approval processes.

Significant management judgment is required to determine

the level of effort required under an arrangement and the period over which the Company expects to complete its performance obligations

under the arrangement.

If the Company cannot reasonably estimate when its performance obligations are either completed or become inconsequential,

then revenue recognition is deferred until the Company can reasonably make such estimates.

Revenue is then recognized over the remaining

estimated period of performance using the cumulative catch-up method.

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”).

Performance obligations may include license rights, development services, and services associated with regulatory submission and approval processes.

Significant management judgment is required to determine the level of effort required under an arrangement and the period over which the Company expects to complete its performance obligations under the arrangement.

If the Company cannot reasonably estimate when its performance obligations are either completed or become inconsequential, then revenue recognition is deferred until the Company can reasonably make such estimates.

Revenue is then recognized over the remaining estimated period of performance using the cumulative catch-up method.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

Notes to Condensed Financial Statements (Unaudited)

Product Revenue

Revenues from product sales are recognized when

control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration

the Company expects to be entitled to in exchange for those goods or services.

At the inception of each customer contract, performance

obligations are identified and the total transaction price is allocated to the performance obligations.

Revenues from product sales are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services.

At the inception of each customer contract, performance obligations are identified and the total transaction price is allocated to the performance obligations.

Cost of Product Revenue

Cost of product revenue consists of the manufacturing

and materials costs incurred by the Company’s third-party contract manufacturers in connection with OneRF Brain Ablation System

and the OneRF® Trigeminal Nerve Ablation System (the “OneRF Products”), strip and grid cortical electrodes (the “Strip/Grid

Products”), depth electrodes (“sEEG Products”) and outside supplier materials costs in connection with the electrode

cable assembly products (“Electrode Cable Assembly Products”) when sold.

In addition, cost of product revenue includes royalty

fees incurred in connection with the Company’s license agreements as well as valuation adjustments for excess or obsolete inventory.

Cost of product revenue consists of the manufacturing and materials costs incurred by the Company’s third-party contract manufacturers in connection with OneRF Brain Ablation System and the OneRF® Trigeminal Nerve Ablation System (the “OneRF Products”), strip and grid cortical electrodes (the “Strip/Grid Products”), depth electrodes (“sEEG Products”) and outside supplier materials costs in connection with the electrode cable assembly products (“Electrode Cable Assembly Products”) when sold.

In addition, cost of product revenue includes royalty fees incurred in connection with the Company’s license agreements as well as valuation adjustments for excess or obsolete inventory.

License Revenue

As part of the accounting for collaboration arrangements,

the Company must develop assumptions that require judgment to determine the stand-alone selling price of each performance obligation identified

in the contract.

The Company uses key assumptions to determine the stand-alone selling price, which may include forecasted revenues, development

timelines, reimbursement rates for personnel costs, discount rates and probabilities of technical and regulatory success.

allocates the total transaction price to each performance obligation based on the estimated relative stand-alone selling prices of the

promised goods or service underlying each performance obligation.

As part of the accounting for collaboration arrangements, the Company must develop assumptions that require judgment to determine the stand-alone selling price of each performance obligation identified in the contract.

The Company uses key assumptions to determine the stand-alone selling price, which may include forecasted revenues, development timelines, reimbursement rates for personnel costs, discount rates and probabilities of technical and regulatory success.

The Company allocates the total transaction price to each performance obligation based on the estimated relative stand-alone selling prices of the promised goods or service underlying each performance obligation.

Licenses of intellectual property :

license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in

the arrangement, the Company recognizes revenues from non-refundable, up-front fees allocated to the license when the license is transferred

to the customer, and the customer can use and benefit from the license.

For licenses that are bundled with other promises, the Company

utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation

is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing

revenue from non-refundable, up-front fees.

The Company evaluates the measure of progress each reporting period and, if necessary, adjusts

the measure of performance and related revenue recognition.

If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenues from non-refundable, up-front fees allocated to the license when the license is transferred to the customer, and the customer can use and benefit from the license.

For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue from non-refundable, up-front fees.

The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition.

Milestone payments :

At the inception of

each arrangement that includes milestone payments, the Company evaluates whether the milestones are considered probable of being achieved

and estimates the amount to be included in the transaction price using the most likely amount method.

If it is probable that a significant

revenue reversal will not occur, the value of the associated milestone (such as a regulatory submission) is included in the transaction

Milestone payments that are not within the control of the Company, such as approvals from regulators, are not considered probable

of being achieved until those approvals are received.

When the Company’s assessment of probability of achievement changes and variable

consideration becomes probable, any additional estimated consideration is allocated to each performance obligation based on the estimated

relative stand-alone selling prices of the promised goods or service underlying each performance obligation and recorded in license revenues

based upon when the customer obtains control of each element.

For arrangements that include sales-based royalties,

including milestone payments based on the level of sales, and the license is deemed to be the predominant item to which the royalties

relate, the Company recognizes revenue at the later of (a) when the related sales occur, or (b) when the performance obligation to which

some or all of the royalty has been allocated has been satisfied (or partially satisfied).

At the inception of each arrangement that includes milestone payments, the Company evaluates whether the milestones are considered probable of being achieved and estimates the amount to be included in the transaction price using the most likely amount method.

If it is probable that a significant revenue reversal will not occur, the value of the associated milestone (such as a regulatory submission) is included in the transaction price.

Milestone payments that are not within the control of the Company, such as approvals from regulators, are not considered probable of being achieved until those approvals are received.

When the Company’s assessment of probability of achievement changes and variable consideration becomes probable, any additional estimated consideration is allocated to each performance obligation based on the estimated relative stand-alone selling prices of the promised goods or service underlying each performance obligation and recorded in license revenues based upon when the customer obtains control of each element.

For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (a) when the related sales occur, or (b) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied).

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements (Unaudited)

Warrant Liability

The Company issued warrants in connection with

its 2024 Private Placement.

The Company issued warrants in connection with its 2024 Private Placement.

See “Note 12– Stockholders’ Equity”.

The Company accounts for these warrants as a

liability at fair value when warrant pricing protection provisions are not available to other common stockholders.

Additionally, issuance

costs associated with the warrant liability are expensed as incurred and reflected as a financing cost in the accompanying condensed statements

of operations.

The Company adjusts the liability for changes in fair value until the earlier of the exercise or expiration of the warrants

for any period when pricing protections remain in place.

Any future change in the fair value of the warrant liability is recognized in

the condensed statements of operations under the fair value change in warrant liability line item.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

The Company accounts for these warrants as a liability at fair value when warrant pricing protection provisions are not available to other common stockholders.

Additionally, issuance costs associated with the warrant liability are expensed as incurred and reflected as a financing cost in the accompanying condensed statements of operations.

The Company adjusts the liability for changes in fair value until the earlier of the exercise or expiration of the warrants for any period when pricing protections remain in place.

Any future change in the fair value of the warrant liability is recognized in the condensed statements of operations under the fair value change in warrant liability line item.

Fair Value of Financial Instruments

The Company’s accounting for fair value

measurements of assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring or nonrecurring

basis adheres to the Financial Accounting Standards Board (“FASB”) fair value hierarchy that prioritizes the inputs to valuation

techniques used to measure fair value.

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical

assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level

3 measurements).

The Company’s accounting for fair value measurements of assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring or nonrecurring basis adheres to the Financial Accounting Standards Board (“FASB”) fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements).

The three levels of the fair value hierarchy are as follows:

5 unchanged sentences

Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.

As of March 31, 2026 and September 30, 2025, the

fair values of cash, cash equivalents, accounts receivable, inventory, prepaid expenses, deferred offering costs, accounts payable and

accrued expenses and other liabilities approximated their carrying values because of the short-term nature of these assets or liabilities.

The fair value of the warrant liability was based on Level 3 inputs as well as the Company’s underlying stock price and associated

volatility, expected term of the warrants and market interest rates.

There were no transfers between fair value hierarchy levels

during the three and six months ended March 31, 2026 and 2025.

The fair value of financial instruments measured

on a recurring basis is as follows:

As of March 31, 2026

As of June 30, 2026 and September 30, 2025, the fair values of cash, cash equivalents, accounts receivable, inventory, prepaid expenses, deferred offering costs, accounts payable and accrued expenses and other liabilities approximated their carrying values because of the short-term nature of these assets or liabilities.

The fair value of the warrant liability was based on Level 3 inputs as well as the Company’s underlying stock price and associated volatility, expected term of the warrants and market interest rates.

There were no transfers between fair value hierarchy levels during the three and nine months ended June 30, 2026 and 2025.

The fair value of financial instruments measured on a recurring basis is as follows:

As of June 30, 2026

Description Total Level 1 Level 2 Level 3

Warrant liability $ 303,805 $ — $ — $ 303,805

1 unchanged sentence

As of September 30, 2025

Description Total Level 1 Level 2 Level 3

Warrant liability $ 1,266,894 $ — $ — $ 1,266,894

1 unchanged sentence

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

The following table provides a roll-forward of

the warrant liability measured at fair value on a recurring basis using unobservable level 3 inputs for the six months ended March

31, 2026 and 2025, respectively.

Notes to Condensed Financial Statements (Unaudited)

The following table provides a roll-forward of the warrant liability measured at fair value on a recurring basis using unobservable level 3 inputs for the nine months ended June 30, 2026 and 2025, respectively.

Warrant liability

1 unchanged sentence

Change in fair value of warrant liability ( 620,171 ) ( 1,099,421 )

Exercises ( 342,918 ) —

Balance as of end of period $ 303,805 $ 1,040,894

Intellectual Property

The Company has entered into two licensing

agreements with major research institutions, which allow for access to certain patented technology and know-how.

Payments under those

agreements are capitalized and amortized to selling, general and administrative expense over the expected useful life of the acquired

The Company has entered into two licensing agreements with major research institutions, which allow for access to certain patented technology and know-how.

Payments under those agreements are capitalized and amortized to selling, general and administrative expense over the expected useful life of the acquired technology.

Property and Equipment

Property and equipment is recorded at cost and

reduced by accumulated depreciation.

Depreciation expense is recognized over the estimated useful lives of the assets using the straight-line

The estimated useful life for equipment and furniture ranges from three to five years .

Tangible assets acquired for research

and development activities and that have alternative use are capitalized over the useful life of the acquired asset.

Estimated useful

lives are periodically reviewed, and, when appropriate, changes are made prospectively.

When certain events or changes in operating conditions

occur, asset lives may be adjusted and an impairment assessment may be performed on the recoverability of the carrying amounts.

and repairs are charged directly to expense as incurred.

Property and equipment is recorded at cost and reduced by accumulated depreciation.

Depreciation expense is recognized over the estimated useful lives of the assets using the straight-line method.

The estimated useful life for equipment and furniture ranges from three to seven years.

Tangible assets acquired for research and development activities and that have alternative use are capitalized over the useful life of the acquired asset.

Estimated useful lives are periodically reviewed, and, when appropriate, changes are made prospectively.

When certain events or changes in operating conditions occur, asset lives may be adjusted and an impairment assessment may be performed on the recoverability of the carrying amounts.

Maintenance and repairs are charged directly to expense as incurred.

Impairment of Long-Lived Assets

The Company evaluates its long-lived assets, which

consist of licensed intellectual property, property and equipment and right-of-use assets for impairment whenever events or changes in

circumstances indicate that the carrying value of these assets may not be recoverable.

The Company assesses the recoverability of long-lived

assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows.

the asset is considered to be impaired, the amount of impairment is measured as the difference between the carrying value and the fair

value of the impaired asset.

Accounts Receivable and Allowances for Credit

The Company records a provision for credit losses,

when appropriate, based on historical experience, current conditions and reasonable supportable forecasts.

In estimating the allowance

for credit losses, the Company considers, among other factors, the estimate of credit losses over the remaining expected life of the asset,

primarily using historical experience and current economic conditions that could affect the collectability of the balances in the future.

The Company evaluates its long-lived assets, which consist of licensed intellectual property, property and equipment and right-of-use assets for impairment whenever events or changes in circumstances indicate that the carrying value of these assets may not be recoverable.

The Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows.

If the asset is considered to be impaired, the amount of impairment is measured as the difference between the carrying value and the fair value of the impaired asset.

Accounts Receivable and Allowances for Credit Losses

The Company records a provision for credit losses, when appropriate, based on historical experience, current conditions and reasonably supportable forecasts.

In estimating the allowance for credit losses, the Company considers, among other factors, the estimate of credit losses over the remaining expected life of the asset, primarily using historical experience and current economic conditions that could affect the collectability of the balances in the future.

Account balances are charged off against the allowance when the Company believes that it is probable that the receivable will not be recovered.

Actual write-offs may be in excess of the Company’s estimated allowance.

The Company has not incurred any bad debt expense

to date and no allowance for credit losses has been recorded during the periods presented.

Inventory is stated at the lower of cost (using

the first-in, first-out “FIFO” method) or net realizable value.

The Company calculates inventory valuation adjustments for

excess and obsolete inventory, when appropriate, based on current inventory levels, movement, expected useful lives, and estimated future

demand of the products and spare parts.

The Company’s inventory is currently comprised of its commercialized product components,

work-in-process and finished goods.

The commercialized products are produced by a third-party contract manufacturer and electrode cable

assembly components are obtained from outside suppliers.

The Company has not incurred any bad debt expense to date and no allowance for credit losses has been recorded during the periods presented.

Inventory is stated at the lower of cost (using the first-in, first-out “FIFO” method) or net realizable value.

The Company calculates inventory valuation adjustments for excess and obsolete inventory, when appropriate, based on current inventory levels, movement, expected useful lives, and estimated future demand of the products and spare parts.

The Company’s inventory is currently comprised of its commercialized product components, work-in-process and finished goods.

The commercialized products are produced by a third-party contract manufacturer and electrode cable assembly components are obtained from outside suppliers.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

Notes to Condensed Financial Statements (Unaudited)

Research and Development Costs

Research and development costs are charged to

expense as incurred.

Research and development expenses comprise of costs incurred in performing research and development activities, including

compensation and benefits for research and development employees (including stock-based compensation), overhead expenses, cost of laboratory

supplies, clinical trial and related clinical manufacturing expenses, costs related to regulatory operations, fees paid to consultants

and other outside expenses.

Non-refundable advance payments for goods and services that will be used in future research and development

activities are expensed when the activity is performed or when the goods have been received, rather than when payment is made, in accordance

with ASC 730, Research and Development .

Research and development costs are charged to expense as incurred.

Research and development expenses comprise of costs incurred in performing research and development activities, including compensation and benefits for research and development employees (including stock-based compensation), overhead expenses, cost of laboratory supplies, clinical trial and related clinical manufacturing expenses, costs related to regulatory operations, fees paid to consultants and other outside expenses.

Non-refundable advance payments for goods and services that will be used in future research and development activities are expensed when the activity is performed or when the goods have been received, rather than when payment is made, in accordance with ASC 730, Research and Development .

Advertising Expense

Advertising expense is charged to selling, general

and administrative expenses during the period that it is incurred.

Total advertising expense amounted to $ 58,848 and $ 119,399 for

the three and six months ended March 31, 2026, respectively.

Total advertising expense amounted to $ 45,000 and $ 83,543 for the

three and six months ended March 31, 2025, respectively.

Advertising expense is charged to selling, general and administrative expenses during the period that it is incurred.

Total advertising expense amounted to $ 57,207 and $ 176,606 for the three and nine months ended June 30, 2026, respectively.

Total advertising expense amounted to $ 45,120 and $ 128,663 for the three and nine months ended June 30, 2025, respectively.

Selling, General and Administrative

Selling, general and administrative expenses consist

primarily of personnel-related costs including stock-based compensation for personnel in functions not directly associated with research

and development activities.

Other significant costs include legal and litigation costs relating to corporate matters, intellectual property

costs, professional fees for consultants assisting with financial and administrative matters, and sales and marketing in connection with

the commercial sales of the Company’s products.

Selling, general and administrative expenses consist primarily of personnel-related costs including stock-based compensation for personnel in functions not directly associated with research and development activities.

Other significant costs include legal and litigation costs relating to corporate matters, intellectual property costs, professional fees for consultants assisting with financial and administrative matters, and sales and marketing in connection with the commercial sales of the Company’s products.

Stock-Based Compensation

The Company accounts for stock-based compensation

in accordance with the provisions of ASC 718, Compensation — Stock Compensation (“ASC 718”).

Accordingly, compensation

costs related to equity instruments granted are recognized at the grant-date fair value over the requisite service period.

records forfeitures when they occur.

Stock-based compensation arrangements to non-employees are accounted for in accordance with the applicable

provisions of ASC 718.

Income taxes are accounted for under the asset

and liability method.

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between

the financial statement carrying amounts of existing assets and liabilities and their respective tax base and operating loss and tax credit

carryforwards.

Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years

in which those temporary differences are expected to be recovered or settled.

Deferred tax assets are reduced by a valuation allowance

if it is more likely than not that some portion or all of the deferred tax asset will not be realized.

The Company accounts for stock-based compensation in accordance with the provisions of ASC 718, Compensation — Stock Compensation (“ASC 718”).

Accordingly, compensation costs related to equity instruments granted are recognized at the grant-date fair value over the requisite service period.

The Company records forfeitures when they occur.

Stock-based compensation arrangements to non-employees are accounted for in accordance with the applicable provisions of ASC 718.

Income taxes are accounted for under the asset and liability method.

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax base and operating loss and tax credit carryforwards.

Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.

Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax asset will not be realized.

Net Loss Per Share

For the Company, basic loss per share of common

stock is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period.

Diluted earnings or loss per share of common stock

is computed similarly to basic earnings or loss per share except the weighted average shares outstanding are increased to include additional

shares from the assumed exercise of any common stock equivalents, if dilutive.

The Company’s warrants, stock options, and restricted

stock units while outstanding are considered common stock equivalents for this purpose.

Diluted earnings or loss per share of common stock

is computed utilizing the treasury method for the warrants, stock options and restricted stock units.

For the Company, basic loss per share of common stock is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period.

Diluted earnings or loss per share of common stock is computed similarly to basic earnings or loss per share except the weighted average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents, if dilutive.

The Company’s warrants, stock options, and restricted stock units while outstanding are considered common stock equivalents for this purpose.

Diluted earnings or loss per share of common stock is computed utilizing the treasury method for the warrants, stock options and restricted stock units.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

The table below presents the computation of basic

and diluted loss per share:

Three Months Ended

Six Months Ended

Net loss available to common stockholders - basic

$ ( 2,085,669 )

$ ( 2,270,607 )

$ ( 3,523,559 )

Notes to Condensed Financial Statements (Unaudited)

The table below presents the computation of basic and diluted loss per share:

Three Months Ended Nine Months Ended

June 30, June 30,

2026 2025 2026 2025

Net loss available to common stockholders - basic $ ( 2,006,331 ) $ ( 1,500,868 ) $ ( 5,826,243 ) $ ( 1,986,153 )

Weighted average common shares outstanding - basic 8,661,624 8,100,603 8,511,313 6,141,509

1 unchanged sentence

Net loss available to common stockholders – diluted $ ( 2,407,254 ) $ ( 1,500,868 ) $ ( 6,438,772 ) $ ( 1,986,153 )

$ ( 2,085,669 )

$ ( 2,270,607 )

$ ( 3,735,165 )

$ ( 485,285 )

Weighted average common shares outstanding - diluted 8,739,505 8,100,603 8,621,075 6,141,509

Loss per share - diluted $ ( 0.28 ) $ ( 0.19 ) $ ( 0.75 ) $ ( 0.32 )

(1) For the three and six months ended March 31, 2025, no adjustment was made to the numerator and no incremental

shares were added to the denominator for the PIPE Warrants being accounted for as a derivative liability as the PIPE Warrants were out-of-the-money

during these periods.

See “Note 12 – Stockholders’ Equity”.

The following table presents the computation of

weighted average common shares considered in the computation of diluted net loss per share during the three and six months ended March

Three Months Ended

Six Months Ended

The following table presents the computation of weighted average common shares considered in the computation of diluted net loss per share during the three and nine months ended June 30,

Three Months Ended Nine Months Ended

June 30, June 30,

2026 2025 2026 2025

Denominator (weighted average shares)

4 unchanged sentences

Diluted common shares outstanding 8,739,505 8,100,603 8,621,075 6,141,509

The following potential common shares were not

considered in the computation of basic net loss per share as their effect would have been anti-dilutive for the three and six months ended

March 31, 2026 and 2025:

Three Months Ended

Six Months Ended

The following potential common shares were not considered in the computation of basic net loss per share as their effect would have been anti-dilutive for the three and nine months ended June 30, 2026 and 2025:

Three Months Ended Nine Months Ended

June 30, June 30,

2026 2025 2026 2025

Warrants 283,230 1,174,322 251,349 1,174,322

Stock options 1,127,065 1,021,952 1,127,065 1,021,952

1 unchanged sentence

Recent Accounting Pronouncements

In December 2023, the FASB issued Accounting

Standards Update (ASU) 2023-09 Income Taxes (Topic 740):

Improvements to Income Tax Disclosures , which enhances income tax

disclosures primarily related to the rate reconciliation and income taxes paid information.

This guidance also includes certain

other amendments to improve the effectiveness of income tax disclosures.

This ASU is effective for fiscal years beginning after

December 15, 2024, including interim periods within those fiscal years and should be applied on a prospective basis, with

retrospective application permitted.

The Company adopted this guidance on October 1, 2025 and the newly adopted guidance will result

in additional income tax disclosures in its financial statements.

In December 2023, the FASB issued Accounting Standards Update (ASU) 2023-09 Income Taxes (Topic 740):

Improvements to Income Tax Disclosures , which enhances income tax disclosures primarily related to the rate reconciliation and income taxes paid information.

This guidance also includes certain other amendments to improve the effectiveness of income tax disclosures.

This ASU is effective for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years and should be applied on a prospective basis, with retrospective application permitted.

The Company adopted this guidance on October 1, 2025 and the newly adopted guidance will result in additional income tax disclosures in its annual financial statements.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

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

Notes to Condensed Financial Statements (Unaudited)

In November 2024, the FASB issued ASU 2024-03 Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40):

Disaggregation of Income Statement Expenses.

This ASU is intended to improve the disclosures related to expenses and provide

investors more detailed information about certain types of expenses.

This ASU is effective for annual periods beginning after December

15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted.

The Company is currently evaluating

the potential impact that this new standard will have on its financial statements and related disclosures.

This ASU is intended to improve the disclosures related to expenses and provide investors more detailed information about certain types of expenses.

This ASU is effective for annual periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted.

The Company is currently evaluating the potential impact that this new standard will have on its financial statements and related disclosures.

NOTE 4 – Commitments and Contingencies

License Agreement

The Company has entered into an exclusive start-up

company license agreement with the Wisconsin Alumni Research Foundation (“WARF”) for WARF’s neural probe array and thin

film micro electrode technology.

The Company entered into an Amended and Restated Exclusive Start-up Company License Agreement (the “WARF

License”) with WARF on January 21, 2020, which amended and restated in full the prior license agreement between WARF and NeuroOne,

LLC, a predecessor of the Company, dated October 1, 2014, as amended on February 22, 2017, March 30, 2019 and September 18, 2019.

The WARF License grants to the Company an exclusive

license to make, use and sell, in the United States only, products that employ certain licensed patents for a neural probe array

or thin-film micro electrode array and method.

The Company agreed to pay WARF a royalty equal to a single-digit percentage of our product

sales pursuant to the WARF License, with a minimum annual royalty payment of $ 150,000 while the WARF License is in effect.

If the Company

or any of its sublicensees contest the validity of any licensed patent, the royalty rate will be doubled during the pendency of such contest

and, if the contested patent is found to be valid and would be infringed by the Company if not for the WARF License, the royalty rate

will be tripled for the remaining term of the WARF License.

WARF may terminate the WARF License on 30 days’

written notice if we default on the payments of amounts due to WARF or fail to timely submit development reports, actively pursue our

development plan or breach any other covenant in the WARF License and fail to remedy such default in 90 days or in the event of certain

bankruptcy events involving us.

WARF may also terminate the WARF License if, after royalties earned on sales begin to be paid, such earned

royalties cease for more than four calendar quarters.

The WARF License otherwise expires by its terms on the date that no valid claims

on the patents licensed thereunder remain.

WARF License Agreement

The Company has entered into an exclusive start-up company license agreement with the Wisconsin Alumni Research Foundation (“WARF”) for WARF’s neural probe array and thin film micro electrode technology.

The Company entered into an Amended and Restated Exclusive Start-up Company License Agreement (the “WARF License”) with WARF on January 21, 2020, which amended and restated in full the prior license agreement between WARF and NeuroOne, LLC, a predecessor of the Company, dated October 1, 2014, as amended on February 22, 2017, March 30, 2019 and September 18, 2019.

The WARF License grants to the Company an exclusive license to make, use and sell, in the United States only, products that employ certain licensed patents for a neural probe array or thin-film micro electrode array and method.

The Company agreed to pay WARF a royalty equal to a single-digit percentage of our product sales pursuant to the WARF License, with a minimum annual royalty payment of $ 150,000 while the WARF License is in effect.

If the Company or any of its sublicensees contest the validity of any licensed patent, the royalty rate will be doubled during the pendency of such contest and, if the contested patent is found to be valid and would be infringed by the Company if not for the WARF License, the royalty rate will be tripled for the remaining term of the WARF License.

WARF may terminate the WARF License on 30 days’ written notice if we default on the payments of amounts due to WARF or fail to timely submit development reports, actively pursue our development plan or breach any other covenant in the WARF License and fail to remedy such default in 90 days or in the event of certain bankruptcy events involving us.

WARF may also terminate the WARF License if, after royalties earned on sales begin to be paid, such earned royalties cease for more than four calendar quarters.

The WARF License otherwise expires by its terms on the date that no valid claims on the patents licensed thereunder remain.

The Company expects the latest expiration of a licensed patent to occur in 2030.

three months ended March 31, 2026 and 2025, $ 37,500 in royalty fees were incurred related to the WARF License during each of these periods.

During the six months ended March 31, 2026 and 2025, $ 75,000 in royalty fees were incurred during each of these periods related to the

WARF License.

During the three months ended June 30, 2026 and 2025, $ 37,500 in royalty fees were incurred related to the WARF License during each of these periods.

During the nine months ended June 30, 2026 and 2025, $ 112,500 in royalty fees were incurred during each of these periods related to the WARF License.

The royalty fees were reflected as a component of cost of product revenue.

has an exclusive license and development agreement with the Mayo Foundation for Medical Education and Research (“Mayo”) related

to certain intellectual property and development services for thin film micro electrode technology (“Mayo Agreement”).

the Company is successful in obtaining regulatory approval, the Company is to pay royalties to Mayo based on a percentage of net sales

of products of the licensed technology through the term of the Mayo Agreement, set to expire May 25, 2037.

During the three

and six months ended March 31, 2026 and 2025, no royalty fees were incurred related to the Mayo Agreement.

Mayo Agreement

The Company has an exclusive license and development agreement with the Mayo Foundation for Medical Education and Research (“Mayo”) related to certain intellectual property and development services for thin film micro electrode technology (“Mayo Agreement”).

If the Company is successful in obtaining regulatory approval, the Company is to pay royalties to Mayo based on a percentage of net sales of products of the licensed technology through the term of the Mayo Agreement, set to expire October 3, 2034.

During the three and nine months ended June 30, 2026 and 2025, no royalty fees were incurred related to the Mayo Agreement.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

Notes to Condensed Financial Statements (Unaudited)

Facility Leases

Headquarters Lease

On May 20, 2024, the Company amended its non-cancellable

headquarters lease (the “Lease”) with certain landlords (together, the “Landlord”) pursuant to which the Company

leases office space located at 7599 Anagram Drive, Eden Prairie, Minnesota (the “Premises”).

The Company took possession of

the Premises on November 1, 2019, with the term of the Lease ending June 30, 2028, as amended, unless terminated earlier (the “Lease

On May 20, 2024, the Company amended its non-cancellable headquarters lease (the “Lease”) with certain landlords (together, the “Landlord”) pursuant to which the Company leases office space located at 7599 Anagram Drive, Eden Prairie, Minnesota (the “Premises”).

The Company took possession of the Premises on November 1, 2019, with the term of the Lease ending June 30, 2028, as amended, unless terminated earlier (the “Lease Term”).

The base rent for the Premises ranges from $ 6,410 per month to $ 7,107 per month by the end of the Lease Term.

as long as the Company is not in default under the Lease, the Company will be entitled to an abatement of its base rent for the first

two months of the amended Lease Term beginning in April 2025 and for the last month of the amended Lease Term (June 2028).

the Company pays its pro rata share of the Landlord’s annual operating expenses associated with the Premises.

In addition, as long as the Company is not in default under the Lease, the Company will be entitled to an abatement of its base rent for the first two months of the amended Lease Term beginning in April 2025 and for the last month of the amended Lease Term (June 2028).

In addition, the Company pays its pro rata share of the Landlord’s annual operating expenses associated with the Premises.

Los Gatos Lease

In 2021, the Company entered into and commenced

a non-cancellable facility lease (the “Los Gatos Lease”), pursuant to which the Company agreed to rent office space for its

research and development operations located at 718 University Avenue, Suite #111, Los Gatos, California.

The facility space under the

Los Gatos Lease is approximately 1,162 square feet.

In 2021, the Company entered into and commenced a non-cancellable facility lease (the “Los Gatos Lease”), pursuant to which the Company agreed to rent office space for its research and development operations located at 718 University Avenue, Suite #111, Los Gatos, California.

The facility space under the Los Gatos Lease is approximately 1,162 square feet.

In 2022, the Los Gatos Lease was extended for an additional two years to December 31, 2024.

The rent under the extended Los Gatos Lease ranged from $ 4,453 to $ 4,632 per month beginning on January 1, 2023.

17, 2024, the Los Gatos Lease was extended again for an additional two years to December 31, 2026.

The rent under the newly extended Los

Gatos Lease ranges from $ 4,939 to $ 5,087 per month beginning on January 1, 2025.

During the three and six months ended March 31,

2026, rent expense associated with the facility leases amounted to $ 69,785 and $ 140,186 , respectively.

During the three and six months

ended March 31, 2025, rent expense associated with the facility leases amounted to $ 70,065 and $ 139,243 , respectively.

Supplemental cash flow information related to the operating leases

was as follows:

For the six months ended

On December 17, 2024, the Los Gatos Lease was extended again for an additional two years to December 31, 2026.

The rent under the newly extended Los Gatos Lease ranges from $ 4,939 to $ 5,087 per month beginning on January 1, 2025.

During the three and nine months ended June 30, 2026, rent expense associated with the facility leases amounted to $ 99,896 and $ 240,082 , respectively.

During the three and nine months ended June 30, 2025, rent expense associated with the facility leases amounted to $ 70,121 and $ 209,364 , respectively.

Supplemental cash flow information related to the operating leases was as follows:

For the nine months ended

Cash paid for amounts included in the measurement of lease liability:

2 unchanged sentences

Modification of right-of-use asset and associated lease liability $ — $ 111,898

Supplemental balance sheet information related

to the operating leases was as follows:

Supplemental balance sheet information related to the operating leases was as follows:

September 30,

4 unchanged sentences

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

Maturity of the lease liabilities was as follows:

Calendar Year

Notes to Condensed Financial Statements (Unaudited)

Maturity of the operating lease liabilities was as follows:

Calendar Year As of

2026 $ 70,330

Total lease payments 186,853

Less imputed interest ( 11,508 )

Total 175,345

Short-term portion (included in accrued expenses and other liabilities) ( 102,025 )

1 unchanged sentence

Other Contingencies

In the ordinary course of business, from time

to time, the Company may be subject to a broad range of claims and legal proceedings that relate to contractual allegations, patent infringement

and other claims.

The Company establishes accruals when applicable for matters and commitments which it believes losses are probable and

can be reasonably estimated.

In the ordinary course of business, from time to time, the Company may be subject to a broad range of claims and legal proceedings that relate to contractual allegations, patent infringement and other claims.

The Company establishes accruals when applicable for matters and commitments which it believes losses are probable and can be reasonably estimated.

To date, no loss contingency for such matters and potential commitments have been recorded.

Although it is

not possible to predict with certainty the outcome of these matters or potential commitments, the Company is of the opinion that the ultimate

resolution of these matters and potential commitments will not have a material adverse effect on its results of operations or financial

Although it is not possible to predict with certainty the outcome of these matters or potential commitments, the Company is of the opinion that the ultimate resolution of these matters and potential commitments will not have a material adverse effect on its results of operations or financial position.

NOTE 5 – Supplemental Balance Sheet Information

Inventory consisted of the following as of:

March 31, 2026

2026 September 30,

2 unchanged sentences

Finished goods 784,812 1,225,213

Excess and obsolete valuation

reserve adjustments reflected as a reduction of component inventory as of both March 31, 2026 and September 30, 2025 was $ 10,000 .

Total $ 2,290,254 $ 2,226,805

Excess and obsolete valuation reserve adjustments reflected as a reduction of component inventory of $ 11,000 and work-in-process inventory of $ 10,000 as of June 30, 2026 and September 30, 2025, respectively.

Intangible assets rollforward is as follows:

Net Intangibles, September 30, 2025

12 - 13 years

Net Intangibles, March 31, 2026

Amortization expense was $ 5,579 and $ 11,157 for

the three and six months ended March 31, 2026, respectively, and $ 5,579 and $ 11,158 for the three and six months ended March 31, 2025,

respectively.

Net Intangibles, September 30, 2025 12 - 13 years $ 44,946

amortization ( 16,736 )

Net Intangibles, June 30, 2026 $ 28,210

Amortization expense was $ 5,579 and $ 16,736 for the three and nine months ended June 30, 2026, respectively, and $ 5,579 and $ 16,737 for the three and nine months ended June 30, 2025, respectively.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

Notes to Condensed Financial Statements (Unaudited)

Property and Equipment

Property and equipment held for use by category

are presented in the following table:

Property and equipment held for use by category are presented in the following table:

September 30,

3 unchanged sentences

Property and equipment, net $ 202,333 $ 259,222

Depreciation expense was $ 54,450 and $ 114,395

for the three months and six months ended March 31, 2026, respectively, and $ 60,055 and $ 119,603 for the three months and six months ended

March 31, 2025, respectively.

Depreciation expense was $ 41,423 and $ 155,818 for the three months and nine months ended June 30, 2026, respectively, and $ 61,015 and $ 180,618 for the three months and nine months ended June 30, 2025, respectively.

NOTE 6 – Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted

of the following:

Accrued expenses and other liabilities consisted of the following:

September 30,

2 unchanged sentences

Royalty payments 75,000 112,500

NOTE 7 – Zimmer Distribution Agreement

and Other Product Revenue

On October 25, 2024, the Company entered into

the Zimmer Amended and Restated Distribution Agreement (the “Amendment” or “Zimmer Distribution Agreement”) with

Zimmer pursuant to which the Company granted Zimmer the exclusive right and license to distribute its OneRF Ablation System for an upfront

payment of $ 3.0 million, with eligibility for an additional $ 1.0 million payment from Zimmer upon achievement of certain specified net

sales milestones.

The Company and Zimmer previously entered into

an Exclusive Development and Distribution Agreement related to the sEEG and Strip/Grid Product Systems, which was subsequently amended

a couple of times through August 2, 2022( the “EDDA”).

The EDDA executed prior to the Amendment granted Zimmer exclusive global

rights to distribute the Strip/Grid Products and the Electrode Cable Assembly Products.

Additionally, the Company granted Zimmer the exclusive

right and license to distribute certain sEEG Products developed by the Company and together with the Strip/Grid Products and Electrode

Cable Assembly Products, the “Products”.

In addition, under the prior EDDAs, the Company and Zimmer agreed to collaborate

with respect to development activities through a joint development committee composed of an equal number of representatives of Zimmer

and the Company.

Under the Amendment, Zimmer paid the Company $ 3.0

million for an exclusive RF Distribution License (the “RF Distribution License” and “License”) for commercialization

of its OneRF Ablation System in the brain.

Distribution and commercialization of the OneRF® Trigeminal Nerve Ablation System is not

covered by the License.

In addition, the Company is eligible to receive a future milestone payment of $ 1.0 million upon reaching a one-time

sales volume threshold, but does not anticipate achieving this milestone.

The revised term under the Amendment (the “Term”)

began on the effective date of the Amendment and will remain in effect until October 31, 2034.

Upon the expiration of the Term, it may

be renewed upon the mutual written consent of the parties.

The Amended and Restated Exclusive Development and Distribution Agreement may

be terminated before the expiration of the Term in accordance with certain terms under the Amendment.

In addition, the license rights

granted to Zimmer under this Amendment shall be exclusive (i) until September 30, 2032 for the sEEG Products and Strip/Grid Products;

Professional fees and other 101,394 1,435

Total $ 1,135,711 $ 1,292,714

NOTE 7 – Zimmer Distribution Agreement and Other Product Revenue

On October 25, 2024, the Company entered into the Zimmer Amended and Restated Distribution Agreement (the “Amendment” or “Zimmer Distribution Agreement”) with Zimmer pursuant to which the Company granted Zimmer the exclusive right and license to distribute its OneRF Ablation System for an upfront payment of $ 3.0 million, with eligibility for an additional $ 1.0 million payment from Zimmer upon achievement of certain specified net sales milestones.

The Company and Zimmer previously entered into an Exclusive Development and Distribution Agreement related to the sEEG and Strip/Grid Product Systems, which was subsequently amended on multiple occasions through August 2, 2022 (the “EDDA”).

The EDDA executed prior to the Amendment granted Zimmer exclusive global rights to distribute the Strip/Grid Products and the Electrode Cable Assembly Products.

Additionally, the Company granted Zimmer the exclusive right and license to distribute certain sEEG Products developed by the Company and together with the Strip/Grid Products and Electrode Cable Assembly Products, the “Products”.

In addition, under the prior EDDAs, the Company and Zimmer agreed to collaborate with respect to development activities through a joint development committee composed of an equal number of representatives of Zimmer and the Company.

Under the Amendment, Zimmer paid the Company $ 3.0 million for an exclusive RF Distribution License (the “RF Distribution License” and “License”) for commercialization of its OneRF Ablation System in the brain.

Distribution and commercialization of the OneRF® Trigeminal Nerve Ablation System is not covered by the License.

In addition, the Company is eligible to receive a future milestone payment of $ 1.0 million upon reaching a one-time sales volume threshold, but does not anticipate achieving this milestone.

The revised term under the Amendment (the “Term”) began on the effective date of the Amendment and will remain in effect until October 31, 2034.

Upon the expiration of the Term, it may be renewed upon the mutual written consent of the parties.

The Amended and Restated Exclusive Development and Distribution Agreement may be terminated before the expiration of the Term in accordance with certain terms under the Amendment.

In addition, the license rights granted to Zimmer under this Amendment shall be exclusive (i) until September 30, 2032 for the sEEG Products and Strip/Grid Products;

and (ii) until October 31, 2034 for the OneRF Ablation System in the brain.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

Notes to Condensed Financial Statements (Unaudited)

License Revenue

The Amendment was accounted for under the provisions

of ASC 606 as a separate contract from the prior EDDAs.

In accordance with the provisions under ASC 606, the Company identified the

transfer of the RF Distribution License as the sole performance obligation of the RF Distribution License.

The distribution rights granted

to Zimmer, inclusive of the access to the underlying intellectual property for future production of the OneRF Product if required, was

found to have significant standalone functionality as no additional substantive input was required by the Company on a go forward basis.

The Amendment was accounted for under the provisions of ASC 606 as a separate contract from the prior EDDAs.

In accordance with the provisions under ASC 606, the Company identified the transfer of the RF Distribution License as the sole performance obligation of the RF Distribution License.

The distribution rights granted to Zimmer, inclusive of the access to the underlying intellectual property for future production of the OneRF Product if required, was found to have significant standalone functionality as no additional substantive input was required by the Company on a go forward basis.

Lastly, ancillary support related to the Amendment was concluded to be a perfunctory obligation and de minimis in terms of required resources.

The transaction price associated with the Amendment

was $ 3.0 million, which was comprised solely of the One RF Exclusivity Fee and was allocated totally to RF Distribution License performance

The transaction price associated with the Amendment was $ 3.0 million, which was comprised solely of the One RF Exclusivity Fee and was allocated totally to RF Distribution License performance obligation.

Sales Volume Milestone and Payment

The sales volume milestone associated with the

Amendment was determined by sales or usage-based thresholds.

The sales volume milestone was accounted for under the sales milestone recognition

constraint and will be accounted for as constrained variable consideration.

The Company has applied the sales volume constraint to

the milestone payment and will not recognize revenue until the sales volume threshold occurs.

The sales volume milestone associated with the Amendment was determined by sales or usage-based thresholds.

The sales volume milestone was accounted for under the sales milestone recognition constraint and will be accounted for as constrained variable consideration.

The Company has applied the sales volume constraint to the milestone payment and will not recognize revenue until the sales volume threshold occurs.

Product Revenue

Product revenue recognized during the three and

six months ended March 31, 2026 was $ 2,391,185 and $ 5,283,820 , respectively, and was comprised of sales of OneRF Products.

Product revenue recognized during the three and

six months ended March 31, 2025 was $ 1,386,550 and $ 4,660,717 , respectively, and was comprised solely of OneRF Product revenue

Product revenue recognized during the three and nine months ended June 30, 2026 was $ 1,973,105 and $ 6,727,790 , respectively, and was comprised of sales of OneRF Products.

Product revenue recognized during the three and nine months ended June 30, 2025 was $ 1,696,050 and $ 6,356,767 , respectively, and was comprised solely of OneRF Product revenue.

Recognition of License Revenue

The Company determined that the RF Distribution

License represented functional intellectual property given Zimmer’s access to the underlying intellectual property associated with

the OneRF Product.

As such, the revenue related to the license was recognized at the point in time in which the license/know-how was delivered

to Zimmer which occurred in October 2024.

Revenue recognized under the Amendment during the six months ended March 31, 2025 was $ 3.0 million.

No license revenue was recognized during the three and six months ended March 31, 2026.

The Company determined that the RF Distribution License represented functional intellectual property given Zimmer’s access to the underlying intellectual property associated with the OneRF Product.

As such, the revenue related to the license was recognized at the point in time in which the license/know-how was delivered to Zimmer which occurred in October 2024.

Revenue recognized under the Amendment during the nine months ended June 30, 2025 was $ 3.0 million.

No license revenue was recognized during the three and nine months ended June 30, 2026.

NOTE 8 – Stock-Based Compensation

During the three and six months ended March 31,

2026 and 2025, stock-based compensation expense related to stock-based awards was included in selling, general and administrative and

research and development costs as follows in the accompanying condensed statements of operations.

Three Months Ended

Six Months Ended

During the three and nine months ended June 30, 2026 and 2025, stock-based compensation expense related to stock-based awards was included in selling, general and administrative and research and development costs as follows in the accompanying condensed statements of operations.

Three Months Ended Nine Months Ended

June 30, June 30,

2026 2025 2026 2025

Selling, general and administrative $ 293,214 $ 246,709 $ 835,073 $ 711,896

2 unchanged sentences

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

Notes to Condensed Financial Statements (Unaudited)

2025 Equity Incentive Plan

On January 10, 2025, the Board of Directors of

the Company adopted the NeuroOne Medical Technologies Corporation 2025 Equity Incentive Plan (the “2025 Plan”).

14, 2025, at the 2025 annual meeting of stockholders, the stockholders of the Company approved the 2025 Plan.

The 2025 Plan is the successor to and continuation

of the Company’s 2017 Equity Incentive Plan (the “2017 Plan”) and to the Company’s 2016 Equity Incentive Plan

(together, the “Prior Plans”).

On January 10, 2025, the Board of Directors of the Company adopted the NeuroOne Medical Technologies Corporation 2025 Equity Incentive Plan (the “2025 Plan”).

On February 14, 2025, at the 2025 annual meeting of stockholders, the stockholders of the Company approved the 2025 Plan.

The 2025 Plan is the successor to and continuation of the Company’s 2017 Equity Incentive Plan (the “2017 Plan”) and to the Company’s 2016 Equity Incentive Plan (together, the “Prior Plans”).

As of the Effective Date, (i) no additional awards may be granted under the Prior Plans;

any Returning Shares will become available for issuance pursuant to Awards granted under the 2025 Plan;

and (iii) all outstanding awards

granted under the Prior Plans will remain subject to the terms of the Prior Plans (except to the extent such outstanding awards result

in returning shares that become available for issuance pursuant to awards granted under the 2025 Plan).

Initially, the maximum number of shares of the

Company’s common stock that may be issued under the 2025 Plan may not exceed (1) 500,000 and (2) any shares subject to

outstanding stock awards under the 2017 Plan that are forfeited or otherwise returned to the share reserve.

See “Note 15 - Subsequent

(ii) any Returning Shares will become available for issuance pursuant to Awards granted under the 2025 Plan;

and (iii) all outstanding awards granted under the Prior Plans will remain subject to the terms of the Prior Plans (except to the extent such outstanding awards result in returning shares that become available for issuance pursuant to awards granted under the 2025 Plan).

Initially, the maximum number of shares of the Company’s common stock that may be issued under the 2025 Plan may not exceed (1) 500,000 and (2) any shares subject to outstanding stock awards under the 2017 Plan that are forfeited or otherwise returned to the share reserve.

On April 3, 2026, at the 2026 annual meeting of stockholders, the stockholders of the Company approved the increase in share authorization under the 2025 Plan by 250,000 shares for a revised aggregate total of 750,000 shares.

In addition, an evergreen provision was approved whereby the number of shares available under the 2025 Plan will be increased automatically on January 1 each year between January 1, 2027 and January 1, 2031.

The aggregate number of shares of common stock that may be issued pursuant to awards (as defined in the 2025 Plan) by an amount equal to 5 % of the fully diluted shares (as defined in the 2025 Plan) as of the last day of the preceding calendar year, provided, however that the Board of Directors may act prior to the effective date of any such annual increase to provide that the increase for such year will be a lesser number of shares of common stock.

Inducement Plan

In October 2021, the Company adopted the NeuroOne

Medical Technologies Corporation 2021 Inducement Plan (the “Inducement Plan”), pursuant to which the Company reserved 70,058 shares

of its common stock to be used exclusively for grants of awards to individuals who were not previously employees or directors of the

Company, as an inducement material to the individual’s entry into employment with the Company within the meaning of Rule 5635(c)(4)

of the Nasdaq Listing Rules.

The Inducement Plan was approved by the Company’s Board of Directors without stockholder approval

in accordance with such a rule.

On November 9, 2023, the Company’s Board of Directors adopted the First Amendment to the Company’s

Inducement Plan, increasing the aggregate number of shares of common stock that may be issued pursuant to equity incentive awards under

the Inducement Plan by 25,000 shares.

Additionally, on May 20, 2025, the Board of Directors adopted the Second Amendment to

the Company’s Inducement Plan, increasing the aggregate number of shares of common stock that may be issued pursuant to equity

incentive awards under the Inducement Plan by an additional 95,833 shares.

Lastly, on February 25, 2026, the Board of Directors

adopted the Third Amendment to the Company’s Inducement Plan, increasing the aggregate number of shares of common stock that may

be issued pursuant to equity incentive awards under the Inducement Plan by an additional 83,333 shares for an aggregate total

of 274,224 shares.

In October 2021, the Company adopted the NeuroOne Medical Technologies Corporation 2021 Inducement Plan (the “Inducement Plan”), pursuant to which the Company reserved 70,058 shares of its common stock to be used exclusively for grants of awards to individuals who were not previously employees or directors of the Company, as an inducement material to the individual’s entry into employment with the Company within the meaning of Rule 5635(c)(4) of the Nasdaq Listing Rules.

The Inducement Plan was approved by the Company’s Board of Directors without stockholder approval in accordance with such a rule.

On November 9, 2023, the Company’s Board of Directors adopted the First Amendment to the Company’s Inducement Plan, increasing the aggregate number of shares of common stock that may be issued pursuant to equity incentive awards under the Inducement Plan by 25,000 shares.

Additionally, on May 20, 2025, the Board of Directors adopted the Second Amendment to the Company’s Inducement Plan, increasing the aggregate number of shares of common stock that may be issued pursuant to equity incentive awards under the Inducement Plan by an additional 95,833 shares.

Lastly, on February 25, 2026, the Board of Directors adopted the Third Amendment to the Company’s Inducement Plan, increasing the aggregate number of shares of common stock that may be issued pursuant to equity incentive awards under the Inducement Plan by an additional 83,333 shares for an aggregate total of 274,224 shares.

Stock Options

During the three months ended March 31, 2026

and 2025, the Company granted 83,334 and 8,514 stock options, respectively, to its board of directors and officers.

During the six months

ended March 31, 2026 and 2025, the Company granted 84,135 and 8,514 stock options, respectively, to its board of directors and officers.

During the three months ended June 30, 2026 and 2025, the Company granted 29,027 and 547,593 stock options, respectively, to its board of directors, officers and employees.

During the nine months ended June 30, 2026 and 2025, the Company granted 113,162 and 556,107 stock options, respectively, to its board of directors, officers and employees.

Vesting generally occurs over a 12 to 48 month period based on a time of service condition.

The grant date fair value of the grants issued

during the three months ended March 31, 2026 and 2025 was $ 3.35 and $ 5.87 per share, respectively.

The grant date fair value of the grants

issued during the six months ended March 31, 2026 and 2025 was $ 3.35 and $ 5.87 per share, respectively.

The total expense for the three months ended

March 31, 2026 and 2025 related to stock options was $ 243,854 and $ 128,378 , respectively.

The total expense for the six months ended

March 31, 2026 and 2025 related to stock options was $ 489,088 and $ 331,332 , respectively.

The total number of stock options outstanding

as of March 31, 2026 and September 30, 2025 was 1,098,038 and 1,013,903 , respectively.

The grant date fair value of the grants issued during the three months ended June 30, 2026 and 2025 was $ 3.35 and $ 2.98 per share, respectively.

The grant date fair value of the grants issued during the nine months ended June 30, 2026 and 2025 was $ 3.38 and $ 3.03 per share, respectively.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

The weighted-average assumptions used in the

Black-Scholes option-pricing model are as follows for the stock options granted during the three and six months ended March 31, 2026

Three Months Ended Six Months Ended

March 31, March 31,

Notes to Condensed Financial Statements (Unaudited)

The total expense for the three months ended June 30, 2026 and 2025 related to stock options was $ 253,243 and $ 203,095 , respectively.

The total expense for the nine months ended June 30, 2026 and 2025 related to stock options was $ 742,331 and $ 534,426 , respectively.

The total number of stock options outstanding as of June 30, 2026 and September 30, 2025 was 1,127,065 and 1,013,903 , respectively.

The weighted-average assumptions used in the Black-Scholes option-pricing model are as follows for the stock options:

Three Months Ended Nine Months Ended

June 30, June 30,

2026 2025 2026 2025

3 unchanged sentences

Risk free interest rate 4.1 % 4.0 % 3.7 % 4.0 %

During the three months ended March 31, 2026

and 2025, 27,059 and 18,282 stock options vested, respectively, and zero stock options were forfeited during these periods.

six months ended March 31, 2026 and 2025, 55,443 and 84,024 stock options vested, respectively, and zero stock options were forfeited

during these periods, respectively.

During the three and six months ended March 31, 2026 and 2025, no options were exercised.

During the three months ended June 30, 2026 and 2025, 177,687 and 22,762 stock options vested, respectively, and zero and 3,205 stock options were forfeited during these periods, respectively.

During the nine months ended June 30, 2026 and 2025, 233,130 and 106,786 stock options vested, respectively, and zero and 3,205 stock options were forfeited during these periods, respectively.

During the three and nine months ended June 30, 2026 and 2025, no options were exercised.

Restricted Stock Units

During the six months ended March 31, 2026, the

Company granted an aggregate of 1,293 restricted stock units (“RSUs”) to a non-employee director under the 2025 Plan.

weighted average grant date fair value of the RSUs granted during the six months ended March 31, 2026 was $ 4.30 per RSU.

The RSUs granted

vest over a one-year period in equal monthly installments, subject to the recipient’s continued service on such dates.

During the three and six months ended March 31,

2025, the Company granted an aggregate of 13,887 RSUs to non-employee directors under the 2025 Plan.

The weighted average grant date

fair value of the RSUs granted during the three and six months ended March 31, 2025 was $ 7.20 per RSU.

The RSUs granted vest over a one-year

period in equal monthly installments, subject to the recipient’s continued service on such dates.

During the three months ended March 31, 2026

and 2025, 45,915 and 48,088 RSUs vested, respectively, and no RSUs were forfeited during these periods.

During the six months ended March

31, 2026 and 2025, 51,983 and 54,390 RSUs vested, respectively, and no RSUs were forfeited during these periods.

The total expense for

the three months ended March 31, 2026 and 2025 related to these RSUs was $ 98,281 and $ 121,792 , respectively.

The total expense for the

six months ended March 31, 2026 and 2025 related to these RSUs was $ 212,302 and $ 258,062 , respectively.

The total RSUs outstanding as

of March 31, 2026 and September 30, 2025 was 84,750 and 135,439 , respectively.

As of March 31, 2026, 307,010 shares were available

in the aggregate for future issuance under the 2025 Plan, 2017 Plan and Inducement Plan.

Unrecognized stock-based compensation was $ 2,454,928

as of March 31, 2026.

During the three and nine months ended June 30, 2026, the Company granted an aggregate of 27,956 and 29,249 restricted stock units (“RSUs”) to a non-employee directors under the 2025 Plan.

The weighted average grant date fair value of the RSUs granted during the three and nine months ended June 30, 2026 was $ 4.77 and $ 4.75 per RSU.

The RSUs granted vest over a one-year period in equal monthly installments, subject to the recipient’s continued service on such dates.

During the nine months ended June 30, 2025, the Company granted an aggregate of zero and 13,890 RSUs to non-employee directors under the 2025 Plan.

The weighted average grant date fair value of the RSUs granted during the three and nine months ended June 30, 2025 was $ 7.20 per RSU.

The RSUs granted vest over a one-year period in equal monthly installments, subject to the recipient’s continued service on such dates.

During the three months ended June 30, 2026 and 2025, 7,311 and 5,962 RSUs vested, respectively, and zero and 417 RSUs were forfeited during these periods, respectively.

During the nine months ended June 30, 2026 and 2025, 59,294 and 60,355 RSUs vested, respectively, and zero and 417 RSUs were forfeited during these periods, respectively.

The total expense for the three months ended June 30, 2026 and 2025 related to these RSUs was $ 99,534 and $ 113,559 , respectively.

The total expense for the nine months ended June 30, 2026 and 2025 related to these RSUs was $ 311,836 and $ 371,622 , respectively.

The total RSUs outstanding as of June 30, 2026 and September 30, 2025 was 105,390 and 135,439 , respectively.

As of June 30, 2026, 250,708 shares were available in the aggregate for future issuance under the 2025 Plan, 2017 Plan and Inducement Plan.

Unrecognized stock-based compensation was $ 2.3 million as of June 30, 2026.

The unrecognized share-based expense is expected to be recognized over a weighted average period of 2.1 years.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements (Unaudited)

NOTE 9 – Concentrations

For the three months and six months ended March

31, 2026, one customer accounted for 99.4 % and 99.7 % of the Company’s product revenue, respectively.

For the three months and six months ended March

31, 2025, one customer accounted for 100.0 % and 93.9 % of the Company’s product revenue, respectively.

For the three months and nine months ended June 30, 2026, one customer accounted for 100 % and 99.8 % of the Company’s product revenue, respectively.

For the three months and nine months ended June 30, 2025, one customer accounted for 100.0 % and 93.9 % of the Company’s product revenue, respectively.

Supplier concentration

One contract manufacturer produces all of the

Company’s Strip/Grid Products and sEEG Products and another supplier was responsible for the development of the Company’s

OneRF Ablation System generator.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

One contract manufacturer produces all of the Company’s Strip/Grid Products and sEEG Products and another supplier was responsible for the development of the Company’s OneRF Ablation System generator.

NOTE 10 – Income Taxes

The effective tax rate for the three and six

months ended March 31, 2026 and 2025 was zero percent.

As a result of the analysis of all available evidence as of March 31, 2026 and September

30, 2025, the Company recorded a full valuation allowance on its net deferred tax assets.

Consequently, the Company reported no income

tax benefit during the three and six months ended March 31, 2026 and 2025.

If the Company’s assumptions change and the

Company believes that it will be able to realize these deferred tax assets, the tax benefits relating to any reversal of the valuation

allowance on deferred tax assets will be recognized as a reduction of future income tax expense.

If the assumptions do not change,

each period the Company could record an additional valuation allowance on any increases in the deferred tax assets.

The effective tax rate for the three and nine months ended June 30, 2026 and 2025 was zero percent.

As a result of the analysis of all available evidence as of June 30, 2026 and September 30, 2025, the Company recorded a full valuation allowance on its net deferred tax assets.

Consequently, the Company reported no income tax benefit during the three and nine months ended June 30, 2026 and 2025.

If the Company’s assumptions change and the Company believes that it will be able to realize these deferred tax assets, the tax benefits relating to any reversal of the valuation allowance on deferred tax assets will be recognized as a reduction of future income tax expense.

If the assumptions do not change, each period the Company could record an additional valuation allowance on any increases in the deferred tax assets.

NOTE 11 – Debt Financing

On August 2, 2024, the Company entered into a loan

and security agreement (the “Debt Facility Agreement”) with Growth Opportunity Funding, LLC, as the lender (the “Lender”),

which provided for a delayed draw term loan facility in an aggregate principal amount not to exceed $ 3.0 million (the “Debt Facility”).

The Company was permitted to borrow loans under the Debt Facility from time to time (collectively, the “Loans”), for general

corporate purposes and subject to certain specified conditions, until the earliest of:

(i) November 30, 2024, (ii) the occurrence of

any Monetization Event or Change of Control (as each defined in the Debt Facility Agreement), or (iii) at the Lender’s option,

upon the occurrence and during the continuance of an event of default under the Debt Facility Agreement.

On November 7, 2024, the Company

terminated the Debt Facility Agreement, and no amounts were drawn under the Debt Facility Agreement.

The Company paid a termination fee

of $ 125,000 to the Lender and incurred additional legal fees of $ 7,091 related to the termination.

The Company also incurred non-termination

Debt Facility costs of $ 192,647 during the six months ended March 31, 2025.

At closing of the Debt

Facility, the Company issued to the Lender a warrant exercisable for five years for 16,666 shares of common stock at an exercise price

of $ 3.96 per share, subject to adjustment (the “Closing Date Debt Facility Warrant”).

The Closing Date Debt Facility Warrant

was accounted for and classified as equity on the accompanying condensed balance sheets.

On August 2, 2024, the Company entered into a loan and security agreement (the “Debt Facility Agreement”) with Growth Opportunity Funding, LLC, as the lender (the “Lender”), which provided for a delayed draw term loan facility in an aggregate principal amount not to exceed $ 3.0 million (the “Debt Facility”).

The Company was permitted to borrow loans under the Debt Facility from time to time (collectively, the “Loans”), for general corporate purposes and subject to certain specified conditions, until the earliest of:

(i) November 30, 2024, (ii) the occurrence of any Monetization Event or Change of Control (as each defined in the Debt Facility Agreement), or (iii) at the Lender’s option, upon the occurrence and during the continuance of an event of default under the Debt Facility Agreement.

On November 7, 2024, the Company terminated the Debt Facility Agreement, and no amounts were drawn under the Debt Facility Agreement.

The Company paid a termination fee of $ 125,000 to the Lender and incurred additional legal fees of $ 7,091 related to the termination.

The Company also incurred non-termination Debt Facility costs of $ 192,647 during the nine months ended June 30, 2025.

At closing of the Debt Facility, the Company issued to the Lender a warrant exercisable for five years for 16,666 shares of common stock at an exercise price of $ 3.96 per share, subject to adjustment (the “Closing Date Debt Facility Warrant”).

The Closing Date Debt Facility Warrant was accounted for and classified as equity on the accompanying condensed balance sheets.

NOTE 12 – Stockholders’ Equity

March 2026 Private Placement

On March 1, 2026, the

Company entered into a securities purchase agreement (the “March 2026 Private Placement”) with a newly appointed officer

of the Company, David Wambeke, to issue and sell 166,666 shares of the Company’s common stock at a price per share equal to $ 4.02242 .

On March 1, 2026, the Company entered into a securities purchase agreement (the “March 2026 Private Placement”) with a newly appointed officer of the Company, to issue and sell 166,666 shares of the Company’s common stock at a price per share equal to $ 4.02242 .

The March 2026 Private Placement closed on March 2, 2026 upon which the Company received gross proceeds in the amount of $ 670,400 .

costs in connection with the March 2026 Private Placement were nil .

August 2024 Private

On August 1, 2024, the

Company entered into a Securities Purchase Agreement with certain accredited investors (the “Purchasers”), pursuant

to which the Company, in a private placement (the “2024 Private Placement”), agreed to issue and sell an aggregate of (i)

490,741 shares of the Company’s common stock and (ii) warrants to purchase an aggregate of 368,052 shares of common stock (the

“PIPE Warrants”) at a purchase price of $ 5.40 per unit, consisting of one share and a PIPE Warrant to purchase 0.75 shares

of common stock, resulting in total gross proceeds of approximately $ 2.65 million before deducting expenses.

Issuance costs attributed

to 2024 Private Placement amounted to approximately $ 0.2 million.

The 2024 Private Placement closed on August 2, 2024.

The PIPE Warrants are

exercisable beginning on the date of issuance, have an initial exercise price of $ 7.14 per share, subject to adjustment, and will expire

on the third anniversary of the date of issuance.

One of the Purchasers in the 2024 Private Placement included Paul Buckman, a director

on the Company’s Board of Directors.

In April 2025, the exercise price was reset to $ 2.79 upon the close of the April 2025 Financing

for all of the PIPE Warrants, except for the PIPE Warrants to purchase 3,472 shares of common stock issued to a director on our Board

of Directors for which the exercise price was reset to $ 5.26 per share.

Issuance costs in connection with the March 2026 Private Placement were nil .

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

The PIPE Warrants were accounted for and classified

as liabilities on the accompanying condensed balance sheets given certain price reset provisions not used for a fair valuation under

a fixed for fixed settlement scenario as required for equity balance sheet classification.

A Monte Carlo simulation model

was used to estimate the aggregate fair value of the PIPE Warrants.

Input assumptions used were as follows on March 31, 2026 and September

Notes to Condensed Financial Statements (Unaudited)

August 2024 Private Placement

On August 1, 2024, the Company entered into a Securities Purchase Agreement with certain accredited investors (the “Purchasers”), pursuant to which the Company, in a private placement (the “2024 Private Placement”), agreed to issue and sell an aggregate of (i) 490,741 shares of the Company’s common stock and (ii) warrants to purchase an aggregate of 368,052 shares of common stock (the “PIPE Warrants”) at a purchase price of $ 5.40 per unit, consisting of one share and a PIPE Warrant to purchase 0.75 shares of common stock, resulting in total gross proceeds of approximately $ 2.65 million before deducting expenses.

Issuance costs attributed to 2024 Private Placement amounted to approximately $ 0.2 million.

The 2024 Private Placement closed on August 2, 2024.

The PIPE Warrants are exercisable beginning on the date of issuance, have an initial exercise price of $ 7.14 per share, subject to adjustment, and will expire on the third anniversary of the date of issuance.

One of the Purchasers in the 2024 Private Placement included Paul Buckman, a director on the Company’s Board of Directors.

In April 2025, the exercise price was reset to $ 2.79 upon the close of the April 2025 Financing for all of the PIPE Warrants, except for the PIPE Warrants to purchase 3,472 shares of common stock issued to a director on our Board of Directors for which the exercise price was reset to $ 5.26 per share.

The PIPE Warrants were accounted for and classified as liabilities on the accompanying condensed balance sheets given certain price reset provisions not used for a fair valuation under a fixed for fixed settlement scenario as required for equity balance sheet classification.

A Monte Carlo simulation model was used to estimate the aggregate fair value of the PIPE Warrants.

Input assumptions used were as follows on June 30, 2026 and September 30, 2025:

risk-free interest rate 3.92 % and 3.55 %, respectively;

1 unchanged sentence

respectively;

expected life

of 1.34 years and 1.84 years, respectively;

expected life of 1.09 years and 1.84 years, respectively;

and expected dividend yield zero percent for both dates.

The underlying stock price used

was the market price as quoted on Nasdaq as of March 31, 2026 and September 30, 2025.

The Company recorded the fair value change of the

PIPE Warrants in the amount of $ 8,271 and a benefit of $( 214,469 ) to the fair value change in warrant liability line item on the accompanying

condensed statements of operations for the three and six months ended March 31, 2026, respectively.

The Company recorded the fair value

change of the PIPE Warrants in the amount of a $( 390,351 ) benefit and a $( 779,796 ) benefit to the fair value change in warrant liability

line item on the accompanying condensed statements of operations for the three and six months ended March 31, 2025, respectively.

The underlying stock price used was the market price as quoted on Nasdaq as of June 30, 2026 and September 30, 2025.

The Company recorded the fair value change of the PIPE Warrants in the amount of a $ 405,702 benefit and a $ 620,171 benefit associated with the fair value change in the warrant liability line item on the accompanying condensed statements of operations for the three and nine months ended June 30, 2026, respectively.

The Company recorded the fair value change of the PIPE Warrants in the amount of a $ 319,625 benefit and a $ 1,099,421 benefit to the fair value change in warrant liability line item on the accompanying condensed statements of operations for the three and nine months ended June 30, 2025, respectively.

At-The-Market Offering

On December 21, 2022, the Company entered into

a Capital on Demand TM Sales Agreement (the “Sales Agreement”) with JonesTrading Institutional Services LLC (“JonesTrading”)

that created an at-the-market offering program (“ATM”) under which the Company may offer and sell common stock having an

aggregate offering price of up to $ 14.5 million.

JonesTrading is entitled to a commission at a fixed commission rate of up to 3 %

of the gross proceeds.

2023, the Company changed the amount of common stock that can be sold pursuant to the Sales Agreement to $ 4.8 million (including shares

previously sold).

On April 3, 2025, we decreased the amount of

common stock available under the ATM to zero , and August 15, 2025, we increased the amount of common stock that can be sold pursuant

to the Sales Agreement to $ 6,750,000 .

During the three and six months ended March 31,

2025, 59,314 shares of common stock were issued under the ATM for an aggregate offering price of $ 414,037 .

Issuance costs incurred under

the ATM during the three and six months ended March 31, 2025 were $ 95,929 .

There were no shares issued out of the ATM during the three

and six months ended March 31, 2026.

The total aggregate offering price and common

stock issued since inception of the ATM Program through March 31, 2026 was $ 8,000,600 and 924,081 shares, respectively.

issuance costs incurred under the ATM Program through March 31, 2026 was $ 617,882 , inclusive of deferred offering costs.

On December 21, 2022, the Company entered into a Capital on Demand TM Sales Agreement (the “Sales Agreement”) with JonesTrading Institutional Services LLC (“JonesTrading”) that created an at-the-market offering program (“ATM”) under which the Company may offer and sell common stock having an aggregate offering price of up to $ 14.5 million.

JonesTrading is entitled to a commission at a fixed commission rate of up to 3 % of the gross proceeds.

In 2023, the Company changed the amount of common stock that can be sold pursuant to the Sales Agreement to $ 4.8 million (including shares previously sold).

On April 3, 2025, we decreased the amount of common stock available under the ATM to zero , and on August 15, 2025, we increased the amount of common stock that can be sold pursuant to the Sales Agreement to $ 6,750,000 .

On June 12, 2026, we increased the amount of common stock that can be sold pursuant to the Sales Agreement to $ 13,400,000 .

During the three and nine months ended June 30, 2026, 80,671 shares of common stock were issued under the ATM for an aggregate offering price of $ 358,986 .

Issuance costs incurred under the ATM during the three and nine months ended June 30, 2026 were $ 11,996 .

During the three and nine months ended June 30, 2025, 59,314 shares of common stock were issued under the ATM for an aggregate offering price of $ 414,037 .

Issuance costs incurred under the ATM during the three and nine months ended June 30, 2025 were $ 9,325 and $ 105,254 , respectively.

The total aggregate offering price and common stock issued since inception of the ATM Program through June 30, 2026 was $ 8,359,586 and 1,004,752 shares, respectively.

Cumulative issuance costs incurred under the ATM Program through June 30, 2026 was $ 629,878 , inclusive of deferred offering costs.

See Note 15 – Subsequent Events.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements (Unaudited)

Warrant Activity and Summary

3 unchanged sentences

Outstanding at September 30, 2025 1,149,323 $ 2.79 - 33.66 $ 21.92 0.96

Issued — $ — $ — —

Exercised (1) ( 93,750 ) $ 2.79 $ 2.79 —

Expired ( 694,462 ) $ 31.50 $ 31.50 —

Outstanding at March 31, 2026 361,111 $ 2.79 - 33.66 $ 8.47 1.52

Outstanding and exercisable at March 31, 2026 361,111 $ 2.79 - 33.66 $ 8.47 1.52

Outstanding at June 30, 2026 361,111 $ 2.79 - 33.66 $ 8.47 1.28

Outstanding and exercisable at June 30, 2026 361,111 $ 2.79 - 33.66 $ 8.47 1.28

(1) 16,780 of the shares exercised were withheld in connection with a cashless exercise.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

The following table summarizes information about

warrants outstanding as of March 31, 2026:

The following table summarizes information about warrants outstanding as of June 30, 2026:

Exercise Price Number Outstanding Weighted Average

1 unchanged sentence

life (Years) Number Exercisable as of

March 31, 2026

$ 2.79 245,830 1.09 245,830

5 unchanged sentences

NOTE 13 – Defined Contribution Plan

The Company has a 401(k) defined contribution

plan (the “401K Plan”) for all employees age 21 and older.

Employees can defer up to 100 % of their compensation through

payroll withholdings into the 401K Plan subject to federal law limits.

The Company may match 100 % of deferrals up to 3 % of

one’s contributions.

The Company has a 401(k) defined contribution plan (the “401K Plan”) for all employees age 21 and older.

Employees can defer up to 100 % of their compensation through payroll withholdings into the 401K Plan subject to federal law limits.

The Company may match 100 % of deferrals up to 3 % of one’s contributions.

The Company’s matching contributions to employee deferrals are discretionary.

The Company may also make

discretionary profit sharing contributions under the 401K Plan in the future, but it has not done so through March 31, 2026.

Employee contributions and any employer matching

contributions made to satisfy certain non-discrimination tests required by the Internal Revenue Code are 100 % vested upon contribution.

Discretionary employer matches to employee deferrals vest over a six year period beginning on the second anniversary of an employee’s

date of hire.

Discretionary profit sharing contributions vest over a five year period beginning on the first anniversary of an employee’s

date of hire.

The Company did not make any contributions to the 401K Plan during the three and six months ended March 31, 2026 and 2025.

The Company may also make discretionary profit sharing contributions under the 401K Plan in the future, but it has not done so through June 30, 2026.

Employee contributions and any employer matching contributions made to satisfy certain non-discrimination tests required by the Internal Revenue Code are 100 % vested upon contribution.

Discretionary employer matches to employee deferrals vest over a six year period beginning on the second anniversary of an employee’s date of hire.

Discretionary profit sharing contributions vest over a five year period beginning on the first anniversary of an employee’s date of hire.

The Company did not make any contributions to the 401K Plan during the three and nine months ended June 30, 2026.

During the three and nine months ended June 30, 2025, the Company contributed zero and $ 31,105 to the 401K Plan, respectively.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements (Unaudited)

NOTE 14 – Segment Reporting

Operating segments are defined as components

of an enterprise about which separate discrete information is available for evaluation by the CODM in deciding how to allocate resources

in assessing performance.

The Company has one reportable segment, which is the business of development and commercialization

of products related to comprehensive neuromodulation cEEG and sEEG recording, monitoring, ablation, and stimulation solutions (“Neuromodulation

Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the CODM in deciding how to allocate resources in assessing performance.

The Company has one reportable segment, which is the business of development and commercialization of products related to comprehensive neuromodulation cEEG and sEEG recording, monitoring, ablation, and stimulation solutions (“Neuromodulation Products”).

NeuroOne is a medical technology company focused on developing and commercializing Neuromodulation Products.

recognizes the Neuromodulation Products as one reporting segment.

The accounting policies of the Neuromodulation

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

The CODM assesses performance for

the Neuromodulation Products segment based on net loss income, which is reported on the statements of operations as net loss.

of segment assets is reported on the balance sheet as total assets.

The Company recognizes the Neuromodulation Products as one reporting segment.

The accounting policies of the Neuromodulation Products segment are the same as those described in the summary of significant accounting policies.

The CODM assesses performance for the Neuromodulation Products segment based on net loss, which is reported on the statements of operations as net loss.

The measure of segment assets is reported on the balance sheet as total assets.

The Company does not have any intra-entity sales or transfers.

The CODM uses cash forecast models in deciding

how to invest into the Neuromodulation Products segment.

Such cash forecast models are reviewed to assess the entity-wide operating results

and performance.

The CODM uses cash forecast models in deciding how to invest into the Neuromodulation Products segment.

Such cash forecast models are reviewed to assess the entity-wide operating results and performance.

Net loss is used to monitor budget versus actual results.

Monitoring budgeted versus actual results is used in assessing

performance of the segment and in establishing management’s compensation.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

The statements of operations below are inclusive

of the significant expense categories regularly reviewed by the CODM for the three and six months ended March 31, 2026 and 2025:

Monitoring budgeted versus actual results is used in assessing performance of the segment and in establishing management’s compensation.

The statements of operations below are inclusive of the significant expense categories regularly reviewed by the CODM for the three and nine months ended June 30, 2026 and 2025:

Three months ended

Six months ended

June 30, Nine months ended

2026 2025 2026 2025

Product revenue $ 1,973,105 $ 1,696,050 $ 6,727,790 $ 6,356,767

4 unchanged sentences

General and administrative 1,693,450 1,264,808 4,651,242 4,501,069

Sales 261,079 150,009 634,372 512,361

Marketing 227,239 204,133 700,980 589,388

Development 1,172,517 1,039,733 3,727,222 3,379,700

Quality assurance 252,636 142,752 555,701 485,676

1 unchanged sentence

Loss from operations ( 2,424,312 ) ( 1,886,600 ) ( 6,528,816 ) ( 2,855,409 )

( 2,100,844 )

( 2,680,016 )

( 3,808,151 )

Fair value change in warrant liability 405,702 319,625 620,171 1,099,421

Financing costs — ( 9,325 ) — ( 334,063 )

Other income 12,279 75,432 82,402 103,898

Loss before income taxes ( 2,006,331 ) ( 1,500,868 ) ( 5,826,243 ) ( 1,986,153 )

( 2,085,669 )

( 2,270,607 )

( 3,523,559 )

Provision for income taxes — — — —

$ ( 2,085,669 )

$ ( 2,270,607 )

$ ( 3,523,559 )

$ ( 485,285 )

Net loss $ ( 2,006,331 ) $ ( 1,500,868 ) $ ( 5,826,243 ) $ ( 1,986,153 )

NOTE 15 – Subsequent Events

On April 3, 2026, at the 2026 annual meeting

of stockholders, the stockholders of the Company approved the increase in share authorization under the 2025 Plan by 250,000 shares.

In addition, an evergreen provision was approved whereby the number of shares available under the 2025 Plan will be increased

automatically on January 1 each year between January 1, 2027 and January 1, 2031.

The aggregate number of shares of common stock

that may be issued pursuant to awards (as defined in the 2025 Plan) by an amount equal to 5 % of the fully diluted shares (as defined

in the 2025 Plan) as of the last day of the preceding calendar year, provided, however that the Board of Directors may act prior to

the effective date of any such annual increase to provide that the increase for such year will be a lesser number of shares of

common stock.

On July 13, 2026, we issued an additional 400,346 shares of common stock for gross proceeds in the amount of $ 1,041,180 in connection with the ATM Program.

Following this issuance, the exercise price of existing PIPE Warrants was reset to $ 2.5227 , except for the PIPE Warrants to purchase 3,472 shares of common stock issued to a director on our Board of Directors for which the exercise price remains $ 5.26 per share.

NeuroOne Medical Technologies Corporation

Management’s Discussion

and Analysis of Financial Condition and Results of Operations

The following discussion

of our financial condition and results of operations should be read in conjunction with the financial statements and notes included in

Part I “Financial Information”, Item I “Financial Statements” of this Quarterly Report on Form 10-Q (the “Report”)

and the audited financial statements and related footnotes included in our Annual Report on Form 10-K for the year ended September 30,

Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion of our financial condition and results of operations should be read in conjunction with the financial statements and notes included in Part I “Financial Information”, Item I “Financial Statements” of this Quarterly Report on Form 10-Q (the “Report”) and the audited financial statements and related footnotes included in our Annual Report on Form 10-K for the year ended September 30, 2025.

Forward-Looking Statements

This Report contains

forward-looking statements that involve substantial risks and uncertainties.

In some cases, you can identify forward-looking statements

by the words “may,” “might,” “will,” “could,” “would,” “should,”

“expect,” “intend,” “plan,” “objective,” “anticipate,” “believe,”

“estimate,” “predict,” “project,” “potential,” “target,” “seek,”

“contemplate,” “continue” and “ongoing,” or the negative of these terms, or other comparable terminology

intended to identify statements about the future.

These statements involve known and unknown risks, uncertainties and other factors that

may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed

or implied by these forward-looking statements.

Although we believe that we have a reasonable basis for each forward-looking statement

contained in this Report, we caution you that these statements are based on a combination of facts and factors currently known by us

and our expectations of the future, about which we cannot be certain.

This Report contains forward-looking statements that involve substantial risks and uncertainties.

In some cases, you can identify forward-looking statements by the words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “objective,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “target,” “seek,” “contemplate,” “continue” and “ongoing,” or the negative of these terms, or other comparable terminology intended to identify statements about the future.

These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements.

Although we believe that we have a reasonable basis for each forward-looking statement contained in this Report, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain.

Forward-looking statements include statements about:

our ability to maintain

regulatory clearance of our cortical strip and grid electrode technology, and our OneRF ablation system;

our ability to successfully

commercialize our technology in the United States;

our ability to achieve

or sustain profitability;

our ability to raise additional

capital and to fund our operations;

the availability of additional

capital on acceptable terms or at all as or when needed;

the clinical utility of

our cortical strip, grid and depth electrode, RF ablation system, and technology under development;

our ability to develop

additional applications of our cortical strip, grid and depth electrode technology with the benefits we hope to offer as compared

to existing technology, or at all;

the results of our development

and distribution relationship with Zimmer, Inc.

we have been the victim

of a cyber-related crime, and our controls may not be successful in avoiding future cyber-related crimes;

the performance, productivity,

reliability and regulatory compliance of our third-party manufacturers of our cortical strip, grid electrode and depth electrode

and RF ablation technology;

our ability to develop

future generations of our cortical strip, grid and depth electrode technology;

our future development

our ability to obtain reimbursement

coverage for our cortical strip, grid and depth electrode technology;

● our ability to maintain regulatory clearance of our commercial products;

● the results of our development and distribution relationship with Zimmer, Inc.

(“Zimmer”), and Zimmer’s ability to commercialize our technology in the United States;

● our ability to achieve or sustain profitability;

● our ability to raise additional capital and to fund our operations;

● the availability of additional capital on acceptable terms or at all as or when needed;

● we have been the victim of a cyber-related crime, and our controls may not be successful in avoiding future cyber-related crimes;

● the performance, productivity, reliability and regulatory compliance of our third-party manufacturers of our products;

● our ability to develop our products in development;

● our future development priorities;

NeuroOne Medical Technologies Corporation

our expectations about

the willingness of healthcare providers to recommend our cortical strip, grid and depth electrode and RF ablation technology to people

with epilepsy, Parkinson’s disease, dystonia, essential tremors, chronic back pain and other related neurological disorders;

our future commercialization,

marketing and manufacturing capabilities and strategy;

our ability to comply with

applicable regulatory requirements;

our ability to maintain

our intellectual property position;

our expectations regarding

international opportunities for commercializing our cortical strip, grid and depth electrode technology under including technology

under development;

our estimates regarding

the size of, and future growth in, the market for our technology, including technology under development;

our estimates regarding

our future expenses and needs for additional financing.

Forward-looking statements

are based on management’s current expectations, estimates, forecasts and projections about our business and the industry in which

we operate, and management’s beliefs and assumptions are not guarantees of future performance or development and involve known

and unknown risks, uncertainties and other factors that are in some cases beyond our control.

You should refer to the “Risk Factors”

section of our Annual Report on Form 10-K for a discussion of important factors that may cause our actual results to differ materially

from those expressed or implied by our forward-looking statements.

As a result of these factors, we cannot assure you that the forward-looking

statements in this Report will prove to be accurate.

Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy

may be material.

In light of the significant uncertainties in these forward-looking statements, you should not regard these statements

as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame,

These forward-looking

statements speak only as of the date of this Report.

Except as required by law, we assume no obligation to update or revise these forward-looking

statements for any reason, even if new information becomes available in the future.

You should, however, review the factors and risks

and other information we describe in the reports we will file from time to time with the Securities and Exchange Commission (the “SEC”)

after the date of this Report.

We are a medical technology

company focused on (i) diagnostic, ablation and deep brain stimulation technology for brain related conditions such as epilepsy and Parkinson’s

● our expectations about the willingness of healthcare providers to recommend our technology to people with epilepsy, Parkinson’s disease, dystonia, essential tremors, facial pain, chronic back pain and other related neurological disorders;

● our future commercialization, marketing and manufacturing capabilities and strategy;

● our ability to comply with applicable regulatory requirements;

● our ability to maintain our intellectual property position;

● our expectations regarding international opportunities for commercializing our products;

● our estimates regarding the size of, and future growth in, the market for our technology, including technology under development;

● our estimates regarding our future expenses and needs for additional financing.

Forward-looking statements are based on management’s current expectations, estimates, forecasts and projections about our business and the industry in which we operate, and management’s beliefs and assumptions are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control.

You should refer to the “Risk Factors” section of our Annual Report on Form 10-K for a discussion of important factors that may cause our actual results to differ materially from those expressed or implied by our forward-looking statements.

As a result of these factors, we cannot assure you that the forward-looking statements in this Report will prove to be accurate.

Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material.

In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all.

These forward-looking statements speak only as of the date of this Report.

Except as required by law, we assume no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.

You should, however, review the factors and risks and other information we describe in the reports we will file from time to time with the Securities and Exchange Commission (the “SEC”) after the date of this Report.

We are a medical technology company focused on (i) diagnostic, ablation and deep brain stimulation technology for brain related conditions such as epilepsy and Parkinson’s disease;

(ii) ablation and stimulation for pain management throughout the body;

and (iii) drug delivery including diagnostic and stimulation

capabilities.

We are developing and

commercializing thin film electrode technology for continuous electroencephalogram (“cEEG”) and stereoelectrocencephalography

(“sEEG”), spinal cord stimulation, brain stimulation, drug delivery and ablation solutions for patients suffering from epilepsy,

trigeminal neuralgia, Parkinson’s disease, dystonia, essential tremors, chronic back pain and other pain-related neurological disorders.

The Company is also developing the capability to use its sEEG electrode technology to deliver drugs or gene therapy while being able

to record activity before, during, and after delivery.

We have received 510(k)

clearance for four of our devices from the Food and Drug Administration (“FDA”), including:

(i) our Evo cortical electrode

technology for recording, monitoring, and stimulating brain tissue for up to 30 days (“Evo Cortical”), (ii) our Evo sEEG

electrode technology for temporary (less than 30 days) use with recording, monitoring, and stimulation equipment for the recording, monitoring,

and stimulation of electrical signals at the subsurface level of the brain (“Evo sEEG”), (iii) our OneRF ablation system

for creation of radiofrequency lesions in nervous tissue for functional neurosurgical procedures (“OneRF Ablation System”),

(iv) our OneRF TN ablation system for use in procedures to create radiofrequency (RF) lesions for the treatment of pain, or for lesioning

nerve tissue for functional neurosurgical procedures (“OneRF TN Ablation System”).

We have a distribution agreement with

(“Zimmer”) providing Zimmer with a license to commercialize and distribute the Evo Cortical, Evo sEEG, and OneRF

Ablation System in the brain.

We initiated a limited market release of the OneRF TN Ablation System in December 2025 and completed the

limited market release in March 2026.

and (iii) drug delivery to the brain including diagnostic and stimulation capabilities.

We are developing and commercializing thin film electrode technology for continuous electroencephalogram (“cEEG”) and stereoelectrocencephalography (“sEEG”), spinal cord stimulation, brain stimulation, drug delivery and ablation solutions for patients suffering from epilepsy, trigeminal neuralgia, Parkinson’s disease, dystonia, essential tremors, chronic back pain and other pain-related neurological disorders.

The Company is also developing the capability to use its sEEG electrode technology to deliver drugs, stem cells or gene therapy while being able to record activity before, during, and after delivery.

We have received 510(k) clearance for four of our devices from the Food and Drug Administration (“FDA”), including:

(i) our Evo cortical electrode technology for recording, monitoring, and stimulating brain tissue for up to 30 days (“Evo Cortical”), (ii) our Evo sEEG electrode technology for temporary (less than 30 days) use with recording, monitoring, and stimulation equipment for the recording, monitoring, and stimulation of electrical signals at the subsurface level of the brain (“Evo sEEG”), (iii) our OneRF ablation system for creation of radiofrequency lesions in nervous tissue for functional neurosurgical procedures (“OneRF Ablation System”), (iv) our OneRF TN ablation system for use in procedures to create radiofrequency (RF) lesions for the treatment of pain, or for lesioning nerve tissue for functional neurosurgical procedures (“OneRF TN Ablation System”).

We have a distribution agreement with Zimmer, Inc.

(“Zimmer”) providing Zimmer with a license to commercialize and distribute the Evo Cortical, Evo sEEG, and OneRF Ablation System in the brain.

We initiated a limited market release of the OneRF TN Ablation System in December 2025 and completed the limited market release in March 2026.

The Company’s other products and indications are still under development.

NeuroOne Medical Technologies Corporation

We have largely incurred

losses since inception.

As of March 31, 2026, we had accumulated deficit of $82.1 million, primarily as a result of expenses incurred

in connection with our research and development, selling, general and administrative expenses associated with our operations and interest

expense, fair value adjustments and loss on extinguishments related to our debt, offset in part by license and product revenues.

Prior to FDA clearance

of certain of our products, our main sources of cash, cash equivalents and short-term investments were proceeds from the issuances of

notes, common stock, warrants and unsecured loans.

We have largely incurred losses since inception.

As of June 30, 2026, we had an accumulated deficit of $84.4 million, primarily as a result of expenses incurred in connection with our research and development, selling, general and administrative expenses associated with our operations and interest expense, fair value adjustments and loss on extinguishments related to our debt, offset in part by license and product revenues.

Prior to FDA clearance of certain of our products, our main sources of cash, cash equivalents and short-term investments were proceeds from the issuances of notes, common stock, warrants and unsecured loans.

See “ Liquidity and Capital Resources—Capital Resources ” below.

we have begun to generate revenue from the sale of our Evo Cortical, Evo sEEG, OneRF Ablation System, and OneRF TN Ablation System,

and through milestone and other payments from our current collaboration and distribution arrangement with Zimmer, we expect to continue

to incur significant expenses and may incur increasing operating and net losses for the foreseeable future until we generate a higher

level of revenue from commercial sales.

We may be unable to

raise additional funds when needed on favorable terms or at all.

Our failure to raise such capital as and when needed would have a negative

impact on our financial condition and our ability to develop and commercialize our cortical strip, grid electrode and depth electrode

technology and future products and our ability to pursue our business strategy.

See “Liquidity and Capital Resources—Liquidity

Outlook” below.

While we have begun to generate revenue from the sale of our Evo Cortical, Evo sEEG, OneRF Ablation System, and OneRF TN Ablation System, and through milestone and other payments from our current collaboration and distribution arrangement with Zimmer, we expect to continue to incur significant expenses and may incur increasing operating and net losses for the foreseeable future until we generate a higher level of revenue from commercial sales.

We may be unable to raise additional funds when needed on favorable terms or at all.

Our failure to raise such capital as and when needed would have a negative impact on our financial condition and our ability to develop and commercialize our cortical strip, grid electrode and depth electrode technology and future products and our ability to pursue our business strategy.

See “Liquidity and Capital Resources—Liquidity Outlook” below.

Recent Developments

1 unchanged sentence

Reverse Stock Split

On April 14, 2026, we

filed an amendment to our Amended and Restated Certificate of Incorporation, as amended and/or restated from time to time, to effectuate

a reverse stock split of our issued and outstanding shares of common stock, par value $0.001 per share, which became effective on April

15, 2026 at 5:00 p.m.

On April 14, 2026, we filed an amendment to our Amended and Restated Certificate of Incorporation, as amended and/or restated from time to time, to effectuate a reverse stock split of our issued and outstanding shares of common stock, par value $0.001 per share, which became effective on April 15, 2026 at 5:00 p.m.

Eastern Time (the “Reverse Stock Split”).

Trading of the common stock on The Nasdaq Capital Market

commenced on a split-adjusted basis at market open on April 16, 2026.

All amounts in the condensed financial statements have been retroactively

adjusted to reflect the Reverse Stock Split.

As a result of the Reverse

Stock Split, every 6 shares of our common stock issued or outstanding was automatically reclassified into one validly issued, fully-paid

and non-assessable new share of common stock, subject to the treatment of fractional shares as described below, without any action on

the part of the holders.

Proportional adjustments were made to the number of shares of common stock awarded and available for issuance

under our equity incentive plans, as well as the exercise price and the number of shares issuable upon the exercise or conversion of

our outstanding stock options and other equity securities under our equity incentive plans.

All outstanding warrants were also adjusted

in accordance with their terms.

Trading of the common stock on The Nasdaq Capital Market commenced on a split-adjusted basis at market open on April 16, 2026.

All amounts in the condensed financial statements have been retroactively adjusted to reflect the Reverse Stock Split.

As a result of the Reverse Stock Split, every 6 shares of our common stock issued or outstanding was automatically reclassified into one validly issued, fully-paid and non-assessable new share of common stock, subject to the treatment of fractional shares as described below, without any action on the part of the holders.

Proportional adjustments were made to the number of shares of common stock awarded and available for issuance under our equity incentive plans, as well as the exercise price and the number of shares issuable upon the exercise or conversion of our outstanding stock options and other equity securities under our equity incentive plans.

All outstanding warrants were also adjusted in accordance with their terms.

The shares of common stock outstanding following the Reverse Stock Split remain fully paid and non-assessable.

The Reverse Stock Split did not affect the number of authorized shares of common stock or the par value per share of the common stock.

No fractional shares

were issued in connection with the Reverse Stock Split.

Stockholders who would otherwise be entitled to receive fractional shares as

a result of the Reverse Stock Split were automatically entitled to receive a cash payment equal to the market value of the fractional

The Reverse Stock Split affected all stockholders uniformly and did not alter any stockholder’s relative interest in our

equity securities, except for any adjustments for fractional shares.

No fractional shares were issued in connection with the Reverse Stock Split.

The Reverse Stock Split affected all stockholders uniformly and did not alter any stockholder’s relative interest in our equity securities, except for any adjustments for fractional shares.

NeuroOne Medical Technologies Corporation

2025 Equity Incentive Plan

On April 3, 2026, at the 2026

annual meeting of stockholders, our stockholders approved the increase in share authorization under the 2025 Equity Incentive Plan (the

“2025 Plan”) by 250,000 shares.

In addition, an evergreen provision was approved whereby the number of shares available under

the 2025 Plan will be increased automatically on January 1 each year between January 1, 2027 and January 1, 2031.

The aggregate number

of shares of common stock that may be issued pursuant to awards (as defined in the 2025 Plan) by an amount equal to 5% of the fully diluted

shares (as defined in the 2025 Plan) as of the last day of the preceding calendar year, provided, however that our Board of Directors

may act prior to the effective date of any such annual increase to provide that the increase for such year will be a lesser number of

shares of common stock.

On April 3, 2026, at the 2026 annual meeting of stockholders, our stockholders approved the increase in share authorization under the 2025 Equity Incentive Plan (the “2025 Plan”) by 250,000 shares.

The aggregate number of shares of common stock that may be issued pursuant to awards (as defined in the 2025 Plan) by an amount equal to 5% of the fully diluted shares (as defined in the 2025 Plan) as of the last day of the preceding calendar year, provided, however that our Board of Directors may act prior to the effective date of any such annual increase to provide that the increase for such year will be a lesser number of shares of common stock.

March 2026 Private Placement

On March 1, 2026, we

entered into a securities purchase agreement (the “March 2026 Private Placement”) with a newly appointed officer of the Company,

David Wambeke, to issue and sell 166,666 shares of our common stock at a price per share equal to $4.02242.

The March 2026 Private Placement

closed on March 2, 2026 upon which we received gross proceeds in the amount of $670,400.

Trigeminal Limited

Market Release

We initiated a limited

market release of the OneRF TN Ablation System in December 2025 and completed the limited market release in March 2026.

The Company is

currently evaluating the distribution options for the OneRF TN Ablation System.

Nasdaq Minimum Bid

Price Notification

On May 6, 2025, we received

a letter from the Listing Qualifications Department of Nasdaq Stock Market (“Nasdaq”) notifying that because the closing

bid price of our common stock was below $1.00 per share for the prior 30 consecutive business days, we are not in compliance with the

minimum bid price requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Marketplace Rule 5550(a)(2)

(the “Minimum Bid Price Requirement”).

In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), we had a period of 180 calendar

days, or until November 3, 2025, to regain compliance with the Minimum Bid Price Requirement.

On November 4, 2025,

we received a letter from Nasdaq notifying us that we have been granted a 180-day extension, until May 4, 2026, to regain compliance

with the Minimum Bid Price Requirement.

On April 30, 2026, we

received a letter from Nasdaq notifying us that we have regained compliance with the Minimum Bid Price Requirement as a result of the

closing bid price of the Company’s common stock being at $1.00 per share or greater for the prior 10 consecutive business days.

On March 1, 2026, we entered into a securities purchase agreement (the “March 2026 Private Placement”) with a newly appointed officer of the Company, to issue and sell 166,666 shares of our common stock at a price per share equal to $4.02242.

The March 2026 Private Placement closed on March 2, 2026 upon which we received gross proceeds in the amount of $670,400.

Trigeminal Limited Market Release

We initiated a limited market release of the OneRF TN Ablation System in December 2025 and completed the limited market release in March 2026.

The Company is currently evaluating the distribution options for the OneRF TN Ablation System.

Nasdaq Minimum Bid Price Notification

On May 6, 2025, we received a letter from the Listing Qualifications Department of Nasdaq Stock Market (“Nasdaq”) notifying us that because the closing bid price of our common stock was below $1.00 per share for the prior 30 consecutive business days, we are not in compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Marketplace Rule 5550(a)(2) (the “Minimum Bid Price Requirement”).

In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), we had a period of 180 calendar days, or until November 3, 2025, to regain compliance with the Minimum Bid Price Requirement.

On November 4, 2025, we received a letter from Nasdaq notifying us that we have been granted a 180-day extension, until May 4, 2026, to regain compliance with the Minimum Bid Price Requirement.

On April 30, 2026, we received a letter from Nasdaq notifying us that we have regained compliance with the Minimum Bid Price Requirement as a result of the closing bid price of the Company’s common stock being at $1.00 per share or greater for the prior 10 consecutive business days.

Accordingly, the letter indicated we are in compliance with the Minimum Bid Price Requirement and the matter is closed.

Global Economic Conditions

Generally, worldwide economic conditions remain

uncertain, particularly due to the conflicts between Russia and Ukraine and in the Middle East, disruptions in the banking system and

financial markets, and increased inflation.

The general economic and capital market conditions both in the U.S.

and worldwide, have been

volatile in the past and at times have adversely affected our access to capital and increased the cost of capital.

The capital and credit

markets may not be available to support future capital raising activity on favorable terms or at all.

If economic conditions continue

to decline, our future cost of equity or debt capital and access to the capital markets could be adversely affected.

We have experienced

minor price increases from our suppliers related to tariffs on imported goods, and may experience additional price increases.

to submit a request for a tariff refund for minor tariffs paid by the Company to the U.S.

government under the International Emergency

Economic Powers Act, but the timing and amount of cash receipt pursuant to such future submission remains uncertain.

We will continue

to monitor guidance issued regarding the refund process.

and worldwide, have been volatile in the past and at times have adversely affected our access to capital and increased the cost of capital.

The capital and credit markets may not be available to support future capital raising activity on favorable terms or at all.

If economic conditions continue to decline, our future cost of equity or debt capital and access to the capital markets could be adversely affected.

We have experienced minor price increases from our suppliers related to tariffs on imported goods, and may experience additional price increases.

We expect to submit a request for a tariff refund for minor tariffs paid by the Company to the U.S.

government under the International Emergency Economic Powers Act, but the timing and amount of cash receipt pursuant to such future submission remains uncertain.

We will continue to monitor guidance issued regarding the refund process.

NeuroOne Medical Technologies Corporation

Our operating results

could be materially impacted by changes in the overall macroeconomic environment and other economic factors.

Changes in economic conditions,

supply chain constraints, logistics challenges, labor shortages, increased inflation, the conflicts in Ukraine and the Middle East, disruptions

in the banking system and financial markets, and steps taken by governments and central banks, have led to higher inflation, which has

led to an increase in costs and has caused changes in fiscal and monetary policy, including increased interest rates.

Our operating results could be materially impacted by changes in the overall macroeconomic environment and other economic factors.

Changes in economic conditions, supply chain constraints, logistics challenges, labor shortages, increased inflation, the conflicts in Ukraine and the Middle East, disruptions in the banking system and financial markets, and steps taken by governments and central banks, have led to higher inflation, which has led to an increase in costs and has caused changes in fiscal and monetary policy, including increased interest rates.

Financial Overview

Product Revenue

Our product revenue

was derived from the sale of our Evo Cortical, Evo sEEG, and OneRF Ablation Systems when they occur, which have each received FDA 510(k)

Product Gross

Our product revenue was derived from the sale of our Evo Cortical, Evo sEEG, and OneRF Ablation Systems when they occur, which have each received FDA 510(k) clearance.

Product Gross Profit

represents our product revenue less our cost of product revenue.

Our cost of product revenue consists of the manufacturing and materials

costs incurred by our third-party contract manufacturers in connection with our Evo Cortical, Evo sEEG, and OneRF Ablation Systems, and

outside supplier costs of producing our electrode cable assembly products.

In addition, the cost of product revenue includes royalty

fees incurred in connection with our license agreements as well as valuation adjustments for excess or obsolete inventory.

Product gross profit represents our product revenue less our cost of product revenue.

Our cost of product revenue consists of the manufacturing and materials costs incurred by our third-party contract manufacturers in connection with our Evo Cortical, Evo sEEG, and OneRF Ablation Systems, and outside supplier costs of producing our electrode cable assembly products.

In addition, the cost of product revenue includes royalty fees incurred in connection with our license agreements as well as valuation adjustments for excess or obsolete inventory.

License Revenue

The Company determined

that the RF Distribution License granted under the Zimmer Amended and Restated Distribution Agreement represented functional intellectual

property given Zimmer’s access to the underlying intellectual property associated with the OneRF Ablation System in the brain.

As such, the revenue related to the license was recognized at the point in time in which the license/know-how was delivered to Zimmer

which occurred in October 2024.

Revenue recognized under the Amendment during the three months ended year ended December 31, 2024

was $3.0 million.

For further discussion about the determination of license revenue, product revenue and cost of product revenue,

and for a discussion of milestones and royalty payments under the Zimmer Amended and Restated Distribution Agreement, see “—Liquidity

and Capital Resources—Liquidity Outlook” below and see “Note 7 — Zimmer Distribution Agreement and Other Product

Revenue” to our condensed financial statements included in “Part 1, Item 1 – Financial Statements” of this Report.

Selling, General

and Administrative

Selling, general and

administrative expenses consist primarily of personnel-related costs including stock-based compensation for personnel in functions not

directly associated with research and development activities.

Other significant costs include legal and litigation costs relating to

corporate matters, intellectual property costs, professional fees for consultants assisting with financial and administrative matters,

and sales and marketing in connection with the commercial sale of our Evo Cortical, Evo sEEG, and OneRF Ablation Systems.

We anticipate

that our selling, general and administrative expenses will increase in the future to support our continued research and development activities,

further commercialization of our technology, and the increased costs of operating as a public company.

Research and Development

Research and development

expenses consist of expenses incurred in performing research and development activities in developing our technology.

The Company determined that the RF Distribution License granted under the Zimmer Amended and Restated Distribution Agreement represented functional intellectual property given Zimmer’s access to the underlying intellectual property associated with the OneRF Ablation System in the brain.

As such, the revenue related to the license was recognized at the point in time in which the license/know-how was delivered to Zimmer which occurred in October 2024.

Revenue recognized under the Amendment during the three months ended December 31, 2024 was $3.0 million.

For further discussion about the determination of license revenue, product revenue and cost of product revenue, and for a discussion of milestones and royalty payments under the Zimmer Amended and Restated Distribution Agreement, see “—Liquidity and Capital Resources—Liquidity Outlook” below and see “Note 7 — Zimmer Distribution Agreement and Other Product Revenue” to our condensed financial statements included in “Part 1, Item 1 – Financial Statements” of this Report.

Selling, General and Administrative

We anticipate that our selling, general and administrative expenses will increase in the future to support our continued research and development activities, further commercialization of our technology, and the increased costs of operating as a public company.

Research and Development

expenses include compensation and benefits for research and development employees including stock-based compensation, overhead expenses,

laboratory supplies, clinical trial and related clinical manufacturing expenses, costs related to regulatory operations, fees paid to

consultants and other outside expenses.

Research and development costs are expensed as incurred and costs incurred by third parties are

expensed as the contracted work is performed.

Research and development expenses consist of expenses incurred in performing research and development activities in developing our technology.

Research and development expenses include compensation and benefits for research and development employees including stock-based compensation, overhead expenses, laboratory supplies, clinical trial and related clinical manufacturing expenses, costs related to regulatory operations, fees paid to consultants and other outside expenses.

Research and development costs are expensed as incurred and costs incurred by third parties are expensed as the contracted work is performed.

NeuroOne Medical Technologies Corporation

Fair Value Change

in Warrant Liability

The net change in the

fair value line item is attributed to the warrant liability while outstanding.

Fair Value Change in Warrant Liability

The net change in the fair value line item is attributed to the warrant liability while outstanding.

Financing Costs

Financing costs consists

of the amortization of the deferred issuance costs and other lending and issuance costs in connection with the debt facility described

further below.

Other income primarily

consists of interest income related to our cash and cash equivalents,

Financing costs consists of the amortization of the deferred issuance costs and other lending and issuance costs in connection with the debt facility described further below.

Other income primarily consists of interest income related to our cash and cash equivalents,

Results of Operations

Comparison of the Three Months Ended March

31, 2026 and 2025

The following table sets forth the results of

operations for the three months ended March 31, 2026 and 2025, respectively.

Three Months Ended

Comparison of the Three Months Ended June 30, 2026 and 2025

The following table sets forth the results of operations for the three months ended June 30, 2026 and 2025, respectively.

Three Months Ended June 30,

2026 2025 Period to

Product revenue $ 1,973,105 $ 1,696,050 $ 277,055

7 unchanged sentences

Fair value change in warrant liability 405,702 319,625 86,077

Financing costs — (9,325 ) 9,325

Other income 12,279 75,432 (63,153 )

Loss before income taxes (2,006,331 ) (1,500,868 ) (505,463 )

Provision for income taxes — — —

$ (2,085,669 )

$ (2,270,607 )

Product Revenue and Product Gross Profit

Product revenue was $2.4 million during the three

months ended March 31, 2026 with a gross profit and gross profit percentage of $1.3 million and 53.8%, respectively.

Product revenue

was $1.4 million during the three months ended March 31, 2025 with a gross profit and gross profit percentage of $0.8 million and 55.6%,

respectively.

The decrease in gross profit percentage during the current period was largely due to higher component costs in the current

period coupled with a slightly lower average selling price attributed to a change in sales mix.

Product revenue consisted of OneRF Products

related sales during the periods presented.

The cost of product revenue consisted of the manufacturing and materials costs incurred by

our third-party contract manufacturers in connection with our OneRF Products and outside supplier materials costs.

In addition, cost

of product revenue included royalty fees incurred of approximately of $38,000 in connection with our license agreements during each of

the three months ended March 31, 2026 and 2025.

Net loss $ (2,006,331 ) $ (1,500,868 ) $ (505,463 )

NeuroOne Medical Technologies Corporation

Selling, General and Administrative Expenses

Product Revenue and Product Gross Profit

Product revenue was $2.0 million during the three months ended June 30, 2026 with a gross profit and gross profit percentage of $1.2 million and 59.9%, respectively.

Product revenue was $1.7 million during the three months ended June 30, 2025 with a gross profit and gross profit percentage of $0.9 million and 53.9%, respectively.

The increase in gross profit percentage during the current period was largely due to a change in sales mix and sales of higher margin products.

Product revenue consisted of OneRF Products related sales during the periods presented.

The cost of product revenue consisted of the manufacturing and materials costs incurred by our third-party contract manufacturers in connection with our OneRF Products and outside supplier materials costs.

In addition, cost of product revenue included royalty fees incurred of approximately $38,000 in connection with our license agreements during each of the three months ended June 30, 2026 and 2025.

Selling, General and Administrative Expenses

were $1.9 million during each of the three months ended March 31, 2026 and 2025.

The slight decrease of $21,000 in the current quarter

over the comparable prior year quarter was largely attributed to lower legal costs of $0.1 million and lower professional fees of $0.1

million, offset by higher administrative payroll and stock-based compensation of $0.1 million and by sales and marketing costs of $0.1

Selling, general and administrative expenses included $0.3 million and $0.2 million of stock-based compensation during the three

months ended March 31, 2026 and 2025, respectively.

Selling, general and administrative expenses were $2.2 million during the three months ended June 30, 2026 compared to $1.6 million during the three months ended June 30, 2025.

The increase of $0.6 million in the current quarter over the comparable prior year quarter was largely attributed to higher payroll costs, including stock-based compensation, of $0.3 million, sales and marketing costs of $0.1 million, professional fees of $0.1 million and higher operating costs of $0.1 million on a net basis.

Selling, general and administrative expenses included $0.3 million and $0.2 million of stock-based compensation during the three months ended June 30, 2026 and 2025, respectively.

Research and Development Expenses

Research and development expenses were $1.5 million

during each of the three months ended March 31, 2026 and 2025.

The slight decrease of $43,000 in the current period over the prior year

period was attributed largely to the timing of product development activities in the current quarter when compared to the comparable

prior year quarter.

Research and development expenses primarily included salary-related expenses and costs related to consulting services,

materials and supplies associated with the development of additional applications of our thin-film electrode technology, including the

delivery of drugs or gene therapy to the brain, and basivertebral nerve ablation (BVNA) and spinal cord stimulation for treatment of

chronic lower back pain.

Research and development expenses included $0.1 million of stock-based compensation during the each of the three

months ended March 31, 2026 and 2025.

Research and development expenses were $1.4 million during the three months ended June 30, 2026 compared to $1.2 million during the three months ended June 30, 2025.

The increase of $0.2 million in the current period over the prior year period was attributed largely to the timing of product development activities in the current quarter when compared to the comparable prior year quarter.

Research and development expenses primarily included salary-related expenses and costs related to consulting services, materials and supplies associated with the development of additional applications of our thin-film electrode technology, including the delivery of drugs or gene therapy to the brain, and basivertebral nerve ablation (BVNA) and spinal cord stimulation for treatment of chronic lower back pain.

Research and development expenses included $0.1 million of stock-based compensation during each of the three months ended June 30, 2026 and 2025.

Fair Value Change in Warrant Liability

The net change in fair

value of the warrant liability during the three months ended March 31, 2026 was $8,000 compared to a $(0.4) million benefit during the

three months ended March 31, 2025.

The net change in fair value of the warrant liability during the three months ended June 30, 2026 was a $0.4 million benefit compared to a $0.3 million benefit during the three months ended June 30, 2025.

The change was due primarily to fluctuations in our common stock fair value.

Other income during the three months ended March

31, 2026 and 2025 related to interest income on our cash, cash equivalents and short-term investments in the amount of $23,000 and $19,000,

respectively.

Comparison of the Six Months Ended March 31,

2026 and 2025

The following table sets forth the results of

operations for the six months ended March 31, 2026 and 2025, respectively.

Six Months Ended

Financing costs

We did not incur any financing costs during the three months ended June 30, 2026.

Financing costs during the three months ended June 30, 2025 consisted of the costs associated with the at-the market offering facility (described further below) in the amount of $9,000.

Other income during the three months ended June 30, 2026 and 2025 related to interest income on our cash, cash equivalents and short-term investments in the amount of $12,000 and $75,000, respectively.

NeuroOne Medical Technologies Corporation

Comparison of the Nine Months Ended June 30, 2026 and 2025

The following table sets forth the results of operations for the nine months ended June 30, 2026 and 2025, respectively.

Nine Months Ended June 30,

2026 2025 Period to

Product revenue $ 6,727,790 $ 6,356,767 $ 371,023

9 unchanged sentences

Financing costs — (334,063 ) 334,063

Other income 82,402 103,898 (21,496 )

Loss before income taxes (5,826,243 ) (1,986,153 ) (3,840,090 )

Provision for income taxes — — —

$ (3,523,559 )

$ (3,038,274 )

NeuroOne Medical Technologies Corporation

Net loss $ (5,826,243 ) $ (1,986,153 ) $ (3,840,090 )

Product Revenue and Product Gross Profit

Product revenue was $5.3 million during the six

months ended March 31, 2026 with a gross profit and gross profit percentage of $2.9 million and 54.0%, respectively.

Product revenue

was $4.7 million during the six months ended March 31, 2025 with a gross profit and gross profit percentage of $2.7 million and 57.9%,

respectively.

The decrease in gross profit percentage during the current period was largely due to higher product costs coupled with

a slightly lower average selling price associated with the sales mix.

Product revenue was $6.7 million during the nine months ended June 30, 2026 with a gross profit and gross profit percentage of $3.7 million and 55.6%, respectively.

Product revenue was $6.4 million during the nine months ended June 30, 2025 with a gross profit and gross profit percentage of $3.6 million and 56.8%, respectively.

The decrease in gross profit percentage during the current period was largely due to the sales mix and sales of higher margin products in the prior year period.

Product revenue consisted of OneRF Products during the period presented.

The cost of product revenue consisted of the manufacturing and materials costs incurred by our third-party contract manufacturers in

connection with our OneRF Products and outside supplier materials costs.

In addition, cost of product revenue included royalty fees incurred

of approximately $75,000 in connection with our license agreements during each of the six months ended March 31, 2026 and 2025.

In addition, cost of product revenue included royalty fees incurred of approximately $0.1 million in connection with our license agreements during each of the nine months ended June 30, 2026 and 2025.

License Revenue

License revenue was $3.0 million for the six

months ended March 31, 2025 related to the distribution license granted to Zimmer for the OneRF Product in the brain in October 2024.

No license revenue was generated from the Amended and Restated Zimmer Development Agreement during the six months ended March 31, 2026.

Selling, General and Administrative Expenses

No license revenue was generated from the Amended and Restated Zimmer Development Agreement during the nine months ended June 30, 2026.

License revenue was $3.0 million for the nine months ended June 30, 2025 related to the distribution license granted to Zimmer for the OneRF Product in the brain in October 2024.

Selling, General and Administrative Expenses

were $3.8 million for the six months ended March 31, 2026, compared to $4.0 million for the six months ended March 31, 2025.

million decrease in the current six-month period compared to the comparable prior year period was primarily due to lower legal costs

of $0.3 million and lower professional fees of $0.2 million, offset by higher administrative payroll of $0.2 million and marketing and

sales costs of $0.1 million.

Selling, general and administrative expenses included $0.5 million of stock-based compensation during each

of the six months ended March 31, 2026 and 2025.

Research and Development Expenses

Research and development expenses were $2.9 million

for the six months ended March 31, 2026, compared to $2.7 million for the six months ended March 31, 2025.

The $0.2 million increase

period over period was attributed to the timing development activities during the current six-month period when compared to the comparable

prior year period.

Research and development primarily included salary-related expenses and costs related to consulting services, materials

and supplies associated with the development of additional applications of our thin-film electrode technology, including the delivery

of drugs or gene therapy to the brain, and basivertebral nerve ablation (BVNA) and spinal cord stimulation for treatment of chronic lower

Research and development expenses included $0.2 million and $0.1 million of stock-based compensation during the six months

ended March 31, 2026 and 2025, respectively.

Selling, general and administrative expenses were $6.0 million for the nine months ended June 30, 2026, compared to $5.6 million for the nine months ended June 30, 2025.

The $0.4 million increase in the current nine-month period compared to the comparable prior year period was primarily due to higher payroll related costs of $0.5 million inclusive of stock-based compensation, sales and marketing costs of $0.3 million and other operating expenses of $0.1 million on a net basis, offset in part by lower legal costs of $0.3 million and lower professional fees of $0.2 million.

Selling, general and administrative expenses included $0.8 million and $0.7 million of stock-based compensation during the nine months ended June 30, 2026 and 2025, respectively.

NeuroOne Medical Technologies Corporation

Fair Value Change

in Warrant Liability

The net change in fair

value of the warrant liability during the six months ended March 31, 2026 was $(0.2) million benefit compared to a $(0.8) million benefit

for the six months ended March 31, 2025.

Research and Development Expenses

Research and development expenses were $4.3 million for the nine months ended June 30, 2026, compared to $3.9 million for the nine months ended June 30, 2025.

The $0.4 million increase period over period was attributed to the timing of development activities during the current nine-month period when compared to the comparable prior year period.

Research and development primarily included salary-related expenses and costs related to consulting services, materials and supplies associated with the development of additional applications of our thin-film electrode technology, including the delivery of drugs or gene therapy to the brain, and basivertebral nerve ablation (BVNA) and spinal cord stimulation for treatment of chronic lower back pain.

Research and development expenses included $0.2 million of stock-based compensation during each of the nine months ended June 30, 2026 and 2025.

Fair Value Change in Warrant Liability

The net change in fair value of the warrant liability during the nine months ended June 30, 2026 was a $0.6 million benefit compared to a $1.1 million benefit for the nine months ended June 30, 2025.

The change was due primarily to fluctuations in our common stock fair value.

Financing Costs

Financing costs during

the six months ended March 31, 2025 consisted of the amortization of the deferred issuance costs associated with the debt facility (described

further below) in the amount of $0.2 million and additional legal and loan facility termination costs of $0.1 million upon the termination

of the Debt Facility in November 2024.

We did not incur any financing costs during the six months ended March 31, 2026.

Other income during the six months ended March

31, 2026 and 2025 consisted of $70,000 and $28,000 related to interest income attributed to our cash and cash equivalents, respectively.

Liquidity and Capital

As of March 31, 2026,

our principal source of liquidity consisted of cash and cash equivalents in the aggregate of approximately $2.8 million.

While we began

to generate revenue in fiscal year 2021 from commercial sales and through milestone and other payments under our agreement with Zimmer,

we expect to continue to incur significant expenses and increasing operating and net losses for the foreseeable future until and unless

we generate an adequate level of revenue from commercial sales to cover expenses.

Our most significant cash requirements relate to the

funding of our ongoing product development and commercialization operations.

Our additional material cash needs include commitments under

operating leases, royalty obligations under our intellectual property licenses with the Wisconsin Alumni Research Foundation and the

Mayo Foundation for Medical Education and Research as well as other administrative services.

See “Funding Requirements” below

for more information.

We anticipate that our expenses will increase substantially as we continue to develop and commercialize our electrode

technology and pursue pre-clinical and clinical trials, seek regulatory approvals, manufacture products, market and distribute our OneRF

Products, hire additional staff, add operational, financial and management systems and continue to operate as a public company.

We did not incur any financing costs during the nine months ended June 30, 2026.

Financing costs during the nine months ended June 30, 2025 consisted of the amortization of the deferred issuance costs associated with the debt facility (described further below) in the amount of $0.2 million and additional legal and loan facility termination costs of $0.1 million upon the termination of the Debt Facility in November 2024.

Other income during each of the nine month periods ended June 30, 2026 and 2025 consisted of $0.1 million related to interest income attributed to our cash and cash equivalents.

Liquidity and Capital Resources

As of June 30, 2026, our principal source of liquidity consisted of cash and cash equivalents in the aggregate of approximately $2.0 million.

While we began to generate revenue in fiscal year 2021 from commercial sales and through milestone and other payments under our agreement with Zimmer, we expect to continue to incur significant expenses and increasing operating and net losses for the foreseeable future until and unless we generate an adequate level of revenue from commercial sales to cover expenses.

Our most significant cash requirements relate to the funding of our ongoing product development and commercialization operations.

Our additional material cash needs include commitments under operating leases, royalty obligations under our intellectual property licenses with the Wisconsin Alumni Research Foundation and the Mayo Foundation for Medical Education and Research as well as other administrative services.

See “Funding Requirements” below for more information.

We anticipate that our expenses will increase substantially as we continue to develop and commercialize our electrode technology and pursue pre-clinical and clinical trials, seek regulatory approvals, manufacture products, market and distribute our OneRF Products, hire additional staff, add operational, financial and management systems and continue to operate as a public company.

Capital Resources

Our sources of cash

and cash equivalents to date have been limited to license, collaboration and product revenues, along with proceeds from the issuances

of notes with warrants, common stock with and without warrants and unsecured loans with the terms of our more recent financings described

Our sources of cash and cash equivalents to date have been limited to license, collaboration and product revenues, along with proceeds from the issuances of notes with warrants, common stock with and without warrants and unsecured loans with the terms of our more recent financings described below.

NeuroOne Medical Technologies Corporation

March 2026 Private Placement

On March 1, 2026, we

entered into the March 2026 Private Placement with a newly appointed officer of the Company, David Wambeke, to issue and sell 166,666

shares of our common stock at a price per share equal to $4.02242.

The March 2026 Private Placement closed on March 2, 2026 upon which

we received gross proceeds in the amount of $670,400.

On March 1, 2026, we entered into the March 2026 Private Placement with a newly appointed officer of the Company, to issue and sell 166,666 shares of our common stock at a price per share equal to $4.02242.

The March 2026 Private Placement closed on March 2, 2026 upon which we received gross proceeds in the amount of $670,400.

Issuance costs in connection with the March 2026 Private Placement were nil.

NeuroOne Medical Technologies Corporation

April 2025 Financing

On April 4, 2025, we

entered into an underwriting agreement with Ladenburg, relating to the issuance and sale of 2,666,666 shares of our common stock, at

a price to the public of $3.00.

In addition, under the terms of the underwriting agreement, we granted Ladenburg an option, exercisable

for 45 days, to purchase up to an additional 400,000 shares of common stock on the same terms as the offering, which was exercised in

Issuance costs in connection with the April 2025 Financing amounted to approximately $1.0 million which included a 7.0% commission

to the Underwriter and legal and other expenses in the amount of $0.3 million.

The Company received approximately $8.2 million in net

On April 4, 2025, we entered into an underwriting agreement with Ladenburg, relating to the issuance and sale of 2,666,666 shares of our common stock, at a price to the public of $3.00.

In addition, under the terms of the underwriting agreement, we granted Ladenburg an option, exercisable for 45 days, to purchase up to an additional 400,000 shares of common stock on the same terms as the offering, which was exercised in full.

Issuance costs in connection with the April 2025 Financing amounted to approximately $1.0 million which included a 7.0% commission to the Underwriter and legal and other expenses in the amount of $0.3 million.

The Company received approximately $8.2 million in net proceeds.

August 2024 Private Placement

On August 1, 2024, we

entered into a Securities Purchase Agreement with certain purchasers, pursuant to which we, in a private placement, agreed

to issue and sell an aggregate of (i) 490,741 shares of our Company’s common stock (the “Shares”), and (ii) warrants

to purchase an aggregate of 368,052 shares of common stock (the “PIPE Warrants”) at a purchase price of $5.40 per unit, consisting

of one share and a PIPE Warrant to purchase 0.75 shares of common stock, resulting in total gross proceeds of approximately $2.65 million

before deducting expenses.

On August 1, 2024, we entered into a Securities Purchase Agreement with certain purchasers, pursuant to which we, in a private placement, agreed to issue and sell an aggregate of (i) 490,741 shares of our Company’s common stock (the “Shares”), and (ii) warrants to purchase an aggregate of 368,052 shares of common stock (the “PIPE Warrants”) at a purchase price of $5.40 per unit, consisting of one share and a PIPE Warrant to purchase 0.75 shares of common stock, resulting in total gross proceeds of approximately $2.65 million before deducting expenses.

The 2024 Private Placement closed on August 2, 2024.

Issuance costs attributed to the 2024 Private Placement

amounted to $0.2 million.

The PIPE Warrants are

exercisable beginning on the date of issuance and had an initial exercise price of $7.14 per share, subject to adjustment.

In April 2025,

the exercise price was reset to $2.79 upon the close of the April 2025 Financing for all of the PIPE Warrants, except for the PIPE Warrants

to purchase 3,472 shares of common stock issued to a director on our Board of Directors for which the exercise price was reset to $5.26

Issuance costs attributed to the 2024 Private Placement amounted to $0.2 million.

The PIPE Warrants are exercisable beginning on the date of issuance and had an initial exercise price of $7.14 per share, subject to adjustment.

In April 2025, the exercise price was reset to $2.79 upon the close of the April 2025 Financing for all of the PIPE Warrants, except for the PIPE Warrants to purchase 3,472 shares of common stock issued to a director on our Board of Directors for which the exercise price was reset to $5.26 per share.

The PIPE Warrants will expire on the third anniversary of the date of issuance.

In connection with the

2024 Private Placement, we agreed to file a registration statement with the SEC covering the resale of the Shares and the shares of common

stock issuable upon exercise of the PIPE Warrants which became effective on September 13, 2024.

In connection with the 2024 Private Placement, we agreed to file a registration statement with the SEC covering the resale of the Shares and the shares of common stock issuable upon exercise of the PIPE Warrants which became effective on September 13, 2024.

At-The-Market Offering

On December 21, 2022,

we entered into a Capital on Demand TM Sales Agreement (“Sales Agreement”) with JonesTrading Institutional

Services LLC (“JonesTrading”) to create an at-the-market offering program (“ATM Program”) under which we may

offer and sell shares having an aggregate offering price of up to $14.5 million.

JonesTrading is entitled to a commission at a fixed

commission rate of up to 3% of the gross proceeds.

On April 3, 2025, we decreased the amount of common stock that can be sold pursuant

to the Sales Agreement to zero, and on August 15, 2025, we increased the amount of common stock that can be sold pursuant to the Sales

Agreement to $6,750,000.

Through March 31, 2026, we have issued 924,081 shares of common stock under the ATM Program for gross proceeds

in the amount of $8.0 million.

We incurred issuance costs in connection with the ATM Program in the amount of $0.6 million through March

On December 21, 2022, we entered into a Capital on Demand TM Sales Agreement (“Sales Agreement”) with JonesTrading Institutional Services LLC (“JonesTrading”) to create an at-the-market offering program (“ATM Program”) under which we may offer and sell shares having an aggregate offering price of up to $14.5 million.

JonesTrading is entitled to a commission at a fixed commission rate of up to 3% of the gross proceeds.

On April 3, 2025, we decreased the amount of common stock that can be sold pursuant to the Sales Agreement to zero, and on August 15, 2025, we increased the amount of common stock that can be sold pursuant to the Sales Agreement to $6,750,000.

On June 12, 2026, we increased the amount of common stock that can be sold pursuant to the Sales Agreement to $13,400,000.

Through June 30, 2026, we have issued 1,004,752 shares of common stock under the ATM Program for gross proceeds in the amount of $8.4 million.

We incurred issuance costs in connection with the ATM Program in the amount of $0.6 million through June 30, 2026.

Debt Facility Financing

On August 2, 2024, we

entered into the Debt Facility Agreement with Growth Opportunity Funding, LLC, as the Lender, which provided for a delayed draw term

loan facility in an aggregate principal amount not to exceed $3.0 million.

We were permitted to borrow loans under the Debt Facility

Agreement from time to time, for general corporate purposes and subject to certain specified conditions, until the earliest of:

30, 2024, (ii) the occurrence of any Monetization Event or a Change of Control, as each defined in the Debt Facility Agreement, or (iii)

at the Lender’s option, upon the occurrence and during the continuance of an event of default under the Debt Facility Agreement.

On August 2, 2024, we entered into the Debt Facility Agreement with Growth Opportunity Funding, LLC, as the Lender, which provided for a delayed draw term loan facility in an aggregate principal amount not to exceed $3.0 million.

We were permitted to borrow loans under the Debt Facility Agreement from time to time, for general corporate purposes and subject to certain specified conditions, until the earliest of:

(i) November 30, 2024, (ii) the occurrence of any Monetization Event or a Change of Control, as each defined in the Debt Facility Agreement, or (iii) at the Lender’s option, upon the occurrence and during the continuance of an event of default under the Debt Facility Agreement.

On November 7, 2024, the Company terminated the Debt Facility Agreement, and no amounts were drawn under the Debt Facility Agreement.

costs incurred under the debt facility financing was $0.4 million.

NeuroOne Medical

Technologies Corporation

Total costs incurred under the debt facility financing was $0.4 million.

NeuroOne Medical Technologies Corporation

Funding Requirements

As noted above, certain

of our cash requirements relate to the funding of our ongoing product development and commercialization operations and our milestone

and royalty obligations under our intellectual property licenses with WARF and Mayo.

See “Item 1—Business—Clinical

Development and Regulatory Pathway—Clinical Experience, Future Development and Clinical Trial Plans” in our Annual Report

on Form 10-K for the year ended September 30, 2025 for a discussion of design, development, pre-clinical and clinical activities that

we may conduct in the future, including expected cash expenditures required for some of those activities, to the extent we are able to

estimate such costs.

Under the Amended and

Restated License and Development Agreement with Mayo (the “Mayo Development Agreement”), we have agreed to pay Mayo a royalty

equal to a single-digit percentage of certain of our product sales pursuant to the Mayo Development Agreement.

– Commitments and Contingencies” to our condensed financial statements included in “Part 1, Item 1 –

Financial Statements” of this Report for more information about the WARF License and the Mayo Development Agreement.

Our other cash requirements

within the next twelve months include accounts payable, accrued expenses, purchase commitments and other current liabilities.

cash requirements greater than twelve months from various contractual obligations and commitments include operating leases and contracted

Refer to “Note 4 – Commitments and Contingencies” to our condensed financial statements included

in “Part 1, Item 1 – Financial Statements” of this Report for further detail of our lease obligations and the

timing of expected future payments.

Contracted services include agreements with third-party service providers for clinical research,

product development, manufacturing, supplies, payroll services, equipment maintenance services, and audits for periods up to fiscal year

We expect to satisfy

our short-term and long-term obligations through cash on hand and revenue from commercial sales to cover expenses.

As noted above, certain of our cash requirements relate to the funding of our ongoing product development and commercialization operations and our milestone and royalty obligations under our intellectual property licenses with WARF and Mayo.

See “Item 1—Business—Clinical Development and Regulatory Pathway—Clinical Experience, Future Development and Clinical Trial Plans” in our Annual Report on Form 10-K for the year ended September 30, 2025 for a discussion of design, development, pre-clinical and clinical activities that we may conduct in the future, including expected cash expenditures required for some of those activities, to the extent we are able to estimate such costs.

Under the Amended and Restated License and Development Agreement with Mayo (the “Mayo Development Agreement”), we have agreed to pay Mayo a royalty equal to a single-digit percentage of certain of our product sales pursuant to the Mayo Development Agreement.

See “Note 4 – Commitments and Contingencies” to our condensed financial statements included in “Part 1, Item 1 – Financial Statements” of this Report for more information about the WARF License and the Mayo Development Agreement.

Our other cash requirements within the next twelve months include accounts payable, accrued expenses, purchase commitments and other current liabilities.

Our other cash requirements greater than twelve months from various contractual obligations and commitments include operating leases and contracted services.

Refer to “Note 4 – Commitments and Contingencies” to our condensed financial statements included in “Part 1, Item 1 – Financial Statements” of this Report for further detail of our lease obligations and the timing of expected future payments.

Contracted services include agreements with third-party service providers for clinical research, product development, manufacturing, supplies, payroll services, equipment maintenance services, and audits for periods up to fiscal year 2028.

We expect to satisfy our short-term and long-term obligations through cash on hand and revenue from commercial sales to cover expenses.

Liquidity Outlook

For a discussion of

potential fee payments under the Amended and Restated Zimmer Development Agreement, see “Note 7 — Zimmer Distribution Agreement

and Other Product Revenue” to our condensed financial statements included in “Part 1, Item 1 – Financial Statements”

of this Report.

Even though we have received regulatory clearance to expand the use of our Evo sEEG electrode technology for up to 30

days, commercial sales of the sEEG electrodes and OneRF Ablation System are expected to take some time to be a significant source of

Zimmer has exclusive global rights to distribute our strip and grid cortical electrodes, depth electrodes and electrode cable

assembly products.

Zimmer’s failure to timely develop or commercialize these products would have a material adverse effect on our

business and operating results.

In October 2024, we entered into an Amended and Restated Distribution Agreement with Zimmer (“Zimmer

Distribution Agreement”) to provide Zimmer with the exclusive right and license to distribute our OneRF Ablation System in the

brain for an upfront payment of $3.0 million, with eligibility for an additional $1.0 million payment from Zimmer upon achievement of

certain specified net sales milestones.

As of March 31, 2026,

we had cash and cash equivalents in the aggregate of approximately $2.8 million.

Management has noted the existence of substantial doubt

about our ability to continue as a going concern.

Additionally, our independent registered public accounting firm included an explanatory

paragraph in the report on our financial statements as of and for the years ended September 30, 2025 and 2024, respectively, noting the

existence of substantial doubt about our ability to continue as a going concern.

Our existing cash and cash equivalents may not be sufficient

to fund our operating expenses through at least twelve months from the date of this filing.

To continue to fund operations, we will need

to secure additional funding through public or private equity or debt financing, through collaborations or partnerships with other companies,

or other sources.

For a discussion of potential fee payments under the Amended and Restated Zimmer Development Agreement, see “Note 7 — Zimmer Distribution Agreement and Other Product Revenue” to our condensed financial statements included in “Part 1, Item 1 – Financial Statements” of this Report.

Even though we have received regulatory clearance to expand the use of our Evo sEEG electrode technology for up to 30 days, commercial sales of the sEEG electrodes and OneRF Ablation System are expected to take some time to be a significant source of liquidity.

Zimmer has exclusive global rights to distribute our strip and grid cortical electrodes, depth electrodes and electrode cable assembly products.

Zimmer’s failure to timely commercialize these products would have a material adverse effect on our business and operating results.

In October 2024, we entered into an Amended and Restated Distribution Agreement with Zimmer (“Zimmer Distribution Agreement”) to provide Zimmer with the exclusive right and license to distribute our OneRF Ablation System in the brain for an upfront payment of $3.0 million, with eligibility for an additional $1.0 million payment from Zimmer upon achievement of certain specified net sales milestones.

As of June 30, 2026, we had cash and cash equivalents in the aggregate of approximately $2.0 million.

Management has noted the existence of substantial doubt about our ability to continue as a going concern.

Additionally, our independent registered public accounting firm included an explanatory paragraph in the report on our financial statements as of and for the years ended September 30, 2025 and 2024, respectively, noting the existence of substantial doubt about our ability to continue as a going concern.

Our existing cash and cash equivalents may not be sufficient to fund our operating expenses through at least twelve months from the date of this filing.

To continue to fund operations, we will need to secure additional funding through public or private equity or debt financing, through collaborations or partnerships with other companies, or other sources.

NeuroOne Medical Technologies Corporation

We may not be able to

raise additional capital on terms acceptable to us, or at all.

Any failure to raise capital when needed could compromise our ability

to execute on our business plan.

If we are unable to raise additional funds, or if our anticipated operating results are not achieved,

we believe planned expenditures may need to be reduced in order to extend the time period that existing resources can fund our operations.

If we are unable to obtain the necessary capital in the future from operating results or future financing, it may have a material adverse

effect on our operations and the development of our technology, or we may have to cease operations altogether.

The development and

commercialization of our cortical strip, grid electrode, depth electrode, ablation system technology and future products and technology

is subject to numerous uncertainties, and we could use our cash and cash equivalent resources sooner than we expect.

Additionally, the

process of developing medical devices is costly, and the timing of progress in pre-clinical tests and clinical trials is uncertain.

ability to successfully transition to profitability will be dependent upon achieving further regulatory approvals and achieving a level

of product sales adequate to support our cost structure.

We cannot assure you that we will ever be profitable or generate positive cash

flow from operating activities.

Our other cash requirements

within the next twelve months include accounts payable, accrued expenses, purchase commitments and other current liabilities.

cash requirements greater than twelve months from various contractual obligations and commitments include operating leases and contracted

We expect to satisfy

our short term and long term obligations through cash on hand and, until we generate an adequate level of revenue from commercial sales

to cover expenses, if ever, from future equity and debt financings.

The following is a summary of cash flows for

each of the periods set forth below.

Six Months Ended

Net cash (used in) provided by operating activities

$ (4,444,546 )

We may not be able to raise additional capital on terms acceptable to us, or at all.

Any failure to raise capital when needed could compromise our ability to execute on our business plan.

If we are unable to raise additional funds, or if our anticipated operating results are not achieved, we believe planned expenditures may need to be reduced in order to extend the time period that existing resources can fund our operations.

If we are unable to obtain the necessary capital in the future from operating results or future financing, it may have a material adverse effect on our operations and the development of our technology, or we may have to cease operations altogether.

The development and commercialization of our cortical strip, grid electrode, depth electrode, ablation system technology and future products and technology is subject to numerous uncertainties, and we could use our cash and cash equivalent resources sooner than we expect.

Additionally, the process of developing medical devices is costly, and the timing of progress in pre-clinical tests and clinical trials is uncertain.

Our ability to successfully transition to profitability will be dependent upon achieving further regulatory approvals and achieving a level of product sales adequate to support our cost structure.

We cannot assure you that we will ever be profitable or generate positive cash flow from operating activities.

Our other cash requirements within the next twelve months include accounts payable, accrued expenses, purchase commitments and other current liabilities.

Our other cash requirements greater than twelve months from various contractual obligations and commitments include operating leases and contracted services.

We expect to satisfy our short term and long term obligations through cash on hand and, until we generate an adequate level of revenue from commercial sales to cover expenses, if ever, from future equity and debt financings.

The following is a summary of cash flows for each of the periods set forth below.

Nine Months Ended

Net cash used in operating activities $ (5,526,335 ) $ (1,311,600 )

Net cash used in investing activities (98,929 ) (71,135 )

Net cash provided by (used in) financing activities

Net decrease in cash and cash equivalents

$ (3,766,371 )

Net cash (used in) provided by operating activities

Net cash used in operating activities was $4.4

million for the six months ended March 31, 2026, which consisted of a net loss of $3.5 million partially offset by non-cash stock-based

compensation, depreciation, amortization related to intangible assets, a fair value change in warrant liability and operating lease expense,

totaling approximately $0.7 million in the aggregate.

The net change in our net operating assets and liabilities associated with fluctuations

in our operating activities resulted in a cash use of approximately $1.6 million.

The change in operating assets and liabilities consisted

of an increase in our accounts receivable and prepaid expenses as well as of a decrease in our accounts payable and accrued expenses

attributed to the timing of payments, partially offset by decrease in our inventory.

Net cash provided by operating activities was

$152,000 for the six months ended March 31, 2025, which consisted of a net loss of $0.5 million partially offset by non-cash stock-based

compensation, depreciation, amortization related to intangible assets, a fair value change in warrant liability and operating lease expense,

totaling approximately $0.2 million in the aggregate.

Our net loss was further adjusted to account for the reclassification of debt termination

costs to financing activities in the amount of $0.1 million.

The net change in our net operating assets and liabilities associated with

fluctuations in our operating activities resulted in a cash source of approximately $0.3 million.

The net cash source stemming from the

change in operating assets and liabilities was primarily attributable to both a decrease in inventory and prepaid expenses, partially

offset by a net decrease in our aggregate accrued expenses, other liabilities and accounts payable as well as by an increase in our accounts

receivable attributed to the timing of payments.

Net cash provided by financing activities 1,102,478 7,962,376

Net (decrease) increase in cash and cash equivalents $ (4,522,786 ) $ 6,579,641

Net cash used in operating activities

Net cash used in operating activities was $5.5 million for the nine months ended June 30, 2026, which consisted of a net loss of $5.8 million partially offset by non-cash stock-based compensation, depreciation, amortization related to intangible assets, a fair value change in warrant liability and operating lease expense, totaling approximately $0.7 million in the aggregate.

The net change in our net operating assets and liabilities associated with fluctuations in our operating activities resulted in a cash use of approximately $0.4 million.

The change in operating assets and liabilities consisted primarily of a decrease in our accounts payable and accrued expenses attributed to the timing of payments and by an increase in both our prepaid expenses and inventory purchases;

a decrease in our accounts receivable given the timing of collections served to partially offset the net cash use impact during the period.

Net cash used in operating activities was $1.3 million for the nine months ended June 30, 2025, which consisted of a net loss of $2.0 million partially offset by non-cash stock-based compensation, depreciation, amortization related to intangible assets, a fair value change in warrant liability and operating lease expense, totaling approximately $0.3 million in the aggregate.

Our net loss was further adjusted to account for the reclassification of debt and equity facility termination costs to financing activities in the amount of $0.1 million.

The net change in our net operating assets and liabilities associated with fluctuations in our operating activities resulted in a cash source of approximately $0.3 million.

The net cash source stemming from the change in operating assets and liabilities was primarily attributable to both a decrease in accounts receivable and inventory, partially offset by a net decrease in our aggregate accrued expense and accounts payable as well as by a slight increase in our prepaid expenses associated with the timing of payments.

NeuroOne Medical Technologies Corporation

Net cash used in investing activities

Net cash used in investing activities was $79,000

for the six months ended March 31, 2026 and consisted of outlays for purchases of property and equipment.

Net cash used in investing activities was $28,000

for the six months ended March 31, 2025 and consisted of outlays for purchases of property and equipment.

Net cash provided by (used in) financing activities

Net cash provided by financing activities was

$0.8 million for the six months ended March 31, 2026, which consisted of proceeds from a private placement in the amount of $0.7 million

and from the exercise of warrants in the amount of $0.2 million.

The proceeds were offset in part by issuance costs and by repurchases

of common stock for the payment of employee taxes in the amount of $0.1 million in the aggregate.

Net cash used in financing activities was $0.3

million for the six months ended March 31, 2025, which consisted of issuance costs and repurchases of common stock for the payment of

employee taxes in the amount of $0.7 million in the aggregate, offset partially by proceeds from the ATM of $0.4 million.

Critical Accounting

Our financial statements

are prepared in accordance with U.S.

Net cash used in investing activities was $99,000 for the nine months ended June 30, 2026 and consisted of outlays for purchases of property and equipment.

Net cash used in investing activities was $71,000 for the nine months ended June 30, 2025 and consisted of outlays for purchases of property and equipment.

Net cash provided by financing activities

Net cash provided by financing activities was $1.1 million for the nine months ended June 30, 2026, which consisted of net proceeds from the March 2026 private placement in the amount of $0.7 million, the ATM Program in the amount of $0.3 million and from the exercise of warrants in the amount of $0.2 million.

The proceeds were offset in part by issuance costs and by repurchases of common stock for the payment of employee taxes in the amount of $0.1 million in the aggregate.

Net cash provided by financing activities was $8.0 million for the nine months ended June 30, 2025, which consisted of net proceeds from the April 2025 Financing of $8.2 million and from the ATM Program in the amount of $0.3 million, offset by debt facility issuance costs of $0.3 million, issuance costs paid in connection with a prior year private placement of approximately $0.1 million and repurchases of common stock for the payment of employee taxes in the amount of $0.1 million.

Critical Accounting Estimates

Our financial statements are prepared in accordance with U.S.

generally accepted accounting principles.

These accounting principles require us to make estimates

and judgments that can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the

reported amounts of revenue and expense during the periods presented.

We believe that the estimates and judgments upon which we rely

are reasonably based upon information available to us at the time that we make these estimates and judgments.

To the extent that there

are material differences between these estimates and actual results, our financial results will be affected.

The accounting policies

that reflect our more significant estimates and judgments and which we believe are the most critical to aid in fully understanding and

evaluating our reported financial results are described in Note 3 — “Summary of Significant Accounting Policies” to

our condensed financial statements in “Part 1, Item 1 – Financial Statements” of this Report.

Of these policies, the

following are considered critical to an understanding of our condensed financial statements included in “Part 1, Item 1 –

Financial Statements” of this Report as they require the application of the most subjective and the most complex judgments:

For discussion about

the determination of license revenue and product revenue, see “Note 7 — Zimmer Distribution Agreement and Other Product Revenue”

to our condensed financial statements included in “Part 1, Item 1 – Financial Statements” of this Report.

we have not had, nor expect to have in the future, significant variable consideration adjustments related to product revenue, such as

chargebacks, sales allowances and sales returns.

These accounting principles require us to make estimates and judgments that can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenue and expense during the periods presented.

We believe that the estimates and judgments upon which we rely are reasonably based upon information available to us at the time that we make these estimates and judgments.

To the extent that there are material differences between these estimates and actual results, our financial results will be affected.

The accounting policies that reflect our more significant estimates and judgments and which we believe are the most critical to aid in fully understanding and evaluating our reported financial results are described in Note 3 — “Summary of Significant Accounting Policies” to our condensed financial statements in “Part 1, Item 1 – Financial Statements” of this Report.

Of these policies, the following are considered critical to an understanding of our condensed financial statements included in “Part 1, Item 1 – Financial Statements” of this Report as they require the application of the most subjective and the most complex judgments:

For discussion about the determination of license revenue and product revenue, see “Note 7 — Zimmer Distribution Agreement and Other Product Revenue” to our condensed financial statements included in “Part 1, Item 1 – Financial Statements” of this Report.

To date, we have not had, nor expect to have in the future, significant variable consideration adjustments related to product revenue, such as chargebacks, sales allowances and sales returns.

Fair Value of Warrant liability

We issued warrants in

connection with our August 2024 Private Placement.

The warrants were classified as a liability on our balance sheet and were recorded

at fair value as certain provisions precluded equity accounting treatment for these instruments.

We will continue to adjust the liabilities

for changes in fair value until the earlier of the exercise, expiration, or until such time that cash settlement or indexation provisions

are no longer in effect for the warrants.

For discussions about the application of fair value associated with the warrants, see

“Note 12 – Stockholders’ Equity” to our condensed financial statements included in “Part 1, Item 1 –

Financial Statements” of this Report.

Recent Accounting

Pronouncements

Refer to “Note

3— Summary of Significant Accounting Policies” to our condensed financial statements included in “Part 1, Item 1 –

Financial Statements” of this Report for a discussion of recently issued accounting pronouncements.

We issued warrants in connection with our August 2024 Private Placement.

The warrants were classified as a liability on our balance sheet and were recorded at fair value as certain provisions precluded equity accounting treatment for these instruments.

We will continue to adjust the liabilities for changes in fair value until the earlier of the exercise, expiration, or until such time that cash settlement or indexation provisions are no longer in effect for the warrants.

For discussions about the application of fair value associated with the warrants, see “Note 12 – Stockholders’ Equity” to our condensed financial statements included in “Part 1, Item 1 – Financial Statements” of this Report.

NeuroOne Medical Technologies Corporation

Quantitative and Qualitative Disclosures

About Market Risk

Not applicable for smaller

reporting companies.

Recent Accounting Pronouncements

Refer to “Note 3— Summary of Significant Accounting Policies” to our condensed financial statements included in “Part 1, Item 1 – Financial Statements” of this Report for a discussion of recently issued accounting pronouncements.

Quantitative and Qualitative Disclosures About Market Risk

Not applicable for smaller reporting companies.

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