Issuance of Options

From October 1 to November 7, 2024, the Company issued 10,900 options at a weighted exercise price of $2.64 to consultants.

Private Placement

On November 1, 2024, the Company issued and sold 1,079,884 shares of its common stock and warrants to purchase 1,079,884 shares of its common stock in a private placement to certain accredited investors and Company directors pursuant to securities purchase agreements dated October 28, 2024 at a price per share of $2.259 for which the Company received gross proceeds of approximately $2.44 million. The warrants are exercisable at a price per share of $2.51, are exercisable commencing six months following issuance, and have a term of five year from the initial exercise date. The securities sold to Company directors participating in the private placement were issued pursuant to the Company’s 2021 Equity Incentive Plan.

Related Party Participation in Private Placement

The following Company directors participated in the aforementioned November 2024 private placement as follows: (i) Stan Smith purchased 100,000 shares of common stock and warrants to purchase up to 100,000 shares of common stock for an aggregate purchase price of approximately $225,900; (ii) Ramiro Guerrero purchased 88,532 shares of common stock and warrants to purchase up to 88,534 shares of common stock for an aggregate purchase

price of approximately $200,000; (iii) Steven Chaouki purchased 22,133 shares of common stock and warrants to purchase up to 22,133 shares of common stock for an aggregate purchase price of approximately $50,000; and (iv) Cristian Luput purchased 22,133 shares of common stock and warrants to purchase up to 22,133 shares of common stock for an aggregate purchase price of approximately $50,000. In addition, David Smith, the son of Company director Stan Smith purchased 40,000 shares of common stock and warrants to purchase up to 40,000 shares of common stock for an aggregate purchase price of approximately $90,360

At-The-Market Offering with H.C. Wainwright

Since October 1, 2024, the Company has sold 285,471 shares of its Common Stock at an average price of approximately $3.22 per share, resulting in aggregate gross proceeds of approximately $918,284, for which it paid Wainwright approximately $27,549 in commissions, resulting in net proceeds to the Company of approximately $890,735. The Company anticipates that the at-the-market offering will continue throughout the next reporting period.