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

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,508,763) $ (5,212,102)
Adjustments to reconcile net loss to cash flows used in operating activities:    
Depreciation and amortization 44,003 33,145
Amortization of discount on royalty obligation 477,436 480,656
Amortization of debt discount 55,738 621,506
Amortization of right-of-use asset 40,056 62,104
Loss on settlement of debt 187,514 164,602
Change in fair value of upfront purchase price liability 7,426 0
Change in fair value of royalty liability 279,511 0
Other income 0 (32,405)
Stock based compensation 592,604 1,219,254
Imputed interest for related party advances 36,376 43,861
Warrants issued in connection with the Sales Representative Agreement 4,430 0
Changes in operating assets and liabilities:    
Accounts receivable (253,459) 740
Grant receivable (52,026) 76,266
Inventory (9,828) 0
Prepaid expenses (32,137) 14,928
Accounts payable and accrued expenses 286,839 1,442,160
Deposits 0 2,584
Upfront purchase price liability (357,364) 0
Lease liability (40,057) (66,098)
Deferred revenue 0 (4,045)
Deferred revenue, grant (56,590) 56,590
Net cash used in operating activities (2,298,291) (1,096,254)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from common stock subscription and royalty agreement 1,879,110 0
Payment to Economic Injury Disaster loan (1,492) (1,437)
Payment of notes payable - related party (525,700) (11,000)
Payment of notes payable (150,000) 0
Proceeds from notes payable 0 200,000
Proceeds from notes payable - related party 1,147,700 931,502
Net cash provided by financing activities 2,349,618 1,119,065
Net increase (decrease) in cash 51,327 22,811
Cash, beginning of the year 88,033 65,222
Cash, end of the year 139,360 88,033
Supplemental disclosures of cash flow information:    
Interest paid 521,358 10,731
Taxes paid 0 0
Supplemental Noncash investing and financing activities    
Common stock issued in connection with issuance of promissory notes 36,800 213,342
Common stock issued in connection subscription agreement 0 9
Record right to use assets per ASC 842 0 (225,663)
Record lease liability per ASC 842 0 225,663
Common stock issued in connection with APA (Note 4) 153,500 0
Warrants issued in connection with APA (Note 4) 89,770 0
Common stock issued in connection with conversion of promissory notes and accounts payable 1,380,319 1,249,385
Derivative liability recognized in connection with issuance of promissory notes 0 26,730
Warrants issued in connection with issuance of promissory notes $ 0 $ 83,552