Annual report [Section 13 and 15(d), not S-K Item 405]

Subsequent Events

v3.26.1
Subsequent Events
12 Months Ended
Dec. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events
17.
SUBSEQUENT EVENTS
In March 2026, the Company amended its existing promissory notes (the "Notes") with an Investor to include a conversion feature to which the outstanding balance of the Notes may be converted at the option of the holder into shares of the Company's common stock at a fixed conversion price of $0.06 per share. The outstanding principal amounts of the Notes were also increased by 20%. After such adjustment, the amended Notes have an aggregate outstanding principal amount of $2,256,000. The amendments also provide that if, after the sale of the conversion shares received upon a conversion, the Investor receives net proceeds of less than 100% of the principal amount of the Notes converted, and the aggregate shortfall under both Notes exceeds $94,000, the Company will issue a new note on substantially the same terms and conditions of the amended Notes (the "Third Note") with a principal amount equal to the aggregate shortfall in excess of $94,000. If issued, the Third Note will be due April 6, 2027. There is no stated maximum number of shares of common stock that may be issuable in respect of conversions pursuant to the Third Note.