Item 4 — Purpose of Transaction
On April 27, 2023, the Issuer issued a Promissory Note to the Sponsor in the original principal amount of up to $2,500,000 (the "Note"), which was subsequently amended and restated on January 8, 2024, and further amended on May 31, 2024 and March 20, 2026. On April 24, 2026, the Issuer and the Sponsor entered into a Note Modification and Conversion Agreement (as amended, the "Conversion Agreement"), which modified the terms of the Note and provided for optional conversion into shares of Common Stock. The Conversion Agreement was amended on April 29, 2026, July 31, 2026, and August 12, 2026. On August 12, 2026, the Sponsor converted $1,292,521 of principal into 1,207,965 shares of Common Stock at a conversion price of $1.07 per share, pursuant to the Conversion Agreement. Following the Issuer's 1-for-4 reverse stock split, the Sponsor holds 301,991 shares from this conversion.