Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
During the three months ended
September 30, 2025, the Company issued an aggregate of 1,180,955 shares of common stock to a third party pursuant to a court-approved
settlement under Section 3(a)(10) of the Securities Act of 1933, in exchange for the settlement of approximately $0.7 million of accounts
payable. The issuances were exempt from registration pursuant to Section 3(a)(10) of the Securities Act. As of November 14, 2025, the
Company had completed the arrangement, settling a total of $1.8 million, and issued 3,148,535 shares of common stock.
In addition, subsequent to
September 30, 2025, the Company issued unregistered warrants to purchase up to an aggregate of 9,903,049 shares of Common Stock in connection
with the October Offerings.
Item 3. Defaults Upon Senior Securities
None.
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Item 4. Mine Safety Disclosures
Not applicable.
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