Item 4 — Purpose of Transaction
The Reporting Person acquired the securities in connection with his service as a director of the Issuer and for investment purposes. In his capacity as the Chairman of the Issuer, the Reporting Person may have influence over the corporate activities of the Issuer, including activities which may relate to items described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. Subject to the Issuer's Insider Trading Policy, the Reporting Person may from time to time buy or sell securities of the Issuer as appropriate for his personal circumstances. Except as set forth herein, the Reporting Person does not have any present plans or proposals at this time that relate to or would result in any of the transactions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. The Support Agreement described in Item 6 of this Schedule 13D will require the Reporting Person to vote in favor of Issuer proposals to be considered at a meeting or meetings of stockholders to: (i) approve the conversion of shares of the Issuer's Series C Non-Voting Convertible Preferred Stock into shares of Common Stock in accordance with the rules of the Nasdaq Stock Market LLC), (ii) if deemed necessary or appropriate by the Issuer or as otherwise required by applicable law or contract, the approval of an amendment to the Issuer's certificate of incorporation, to authorize sufficient shares of Common Stock for the conversion of Series C Preferred Stock issued pursuant to an Agreement and Plan of Merger that the Issuer entered into on August 5, 2026 and/or to effectuate a reverse stock split for the purpose of maintaining compliance with Nasdaq listing standards and (iii) if reasonably expected to facilitate the aforementioned proposals, approve a change in the number or term of directors or the filling of any existing vacancies on the Issuer's Board of Directors and other proposals. The Reporting Person continuously assesses the Issuer's business, financial condition, results of operations and prospects, general economic conditions, other developments and additional investment opportunities and all other factors deemed relevant in determining whether additional shares of Common Stock will be acquired by the Reporting Person or, if applicable, his affiliates or whether the Reporting Person or, if applicable, any such affiliate will dispose of shares of Common Stock. At any time, additional shares of Common Stock may be acquired or some or all of shares of Common Stock beneficially owned by the Reporting Person may be sold, in either case in the open market, in privately negotiated transactions or otherwise. Accordingly, the Reporting Person reserves the right to change his intentions and develop plans or proposals at any time, as he deems appropriate. The information set forth in Item 6 of this Schedule 13D is incorporated by reference into this Item 4.