Item 2. Unregistered Sales of Equity Securities
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds
During the three months ended June 30, 2026, the Company issued an aggregate of 160,000 warrants to related-party lenders in connection
with additional amounts borrowed under lines of credit. The warrants vested immediately upon issuance, are exercisable at $0.20 per share
and expire five years from the date of issuance.
The warrants, and the shares of common stock issuable upon exercise of the warrants, were
issued without registration under the Securities Act of 1933, as amended, in reliance upon the exemption from registration provided by
Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D.
See Note 7, Stockholders’ Equity, to the condensed consolidated
financial statements included in Part I, Item 1 of this Quarterly Report for additional information regarding the warrants, which information
is incorporated herein by reference.
Purchases
of Equity Securities by the Issuer
There
were no repurchases of equity during the quarter ended June 30, 2026.
Item
3. Defaults upon Senior Securities.
None;
not applicable.
Item
4. Mine Safety Disclosures.
None;
not applicable.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.